Morgan Park Summer Music Festival Association Inc

Analysis

Morgan Park Summer Music Festival Association Inc is a registered charity in United States, based in Glen Cove, NY. It received its IRS tax-exemption ruling in July 1978, 48 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Morgan Park Summer Music Festival Association Inc reported income of $1.2m and spending of $207k, leaving 83% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $227k to $1.2m (+440%), an average of +52% a year. The sharpest change came in the year to December 2023, when income rose by 674%. Over the whole period it spent 35% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Morgan Park Summer Music Festival Association Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 78th percentile within NY. Charities of a similar size with the same main cause include Gore Place Society ($1.2m), Cyberup ($1.2m) and Bone Creek Art Museum ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% of the total. At year end it held assets of $6.5m against liabilities of $0, net assets of $6.5m.