Ithaca Festival Inc

Analysis

Ithaca Festival Inc is a registered charity in United States, based in Ithaca, NY. It received its IRS tax-exemption ruling in September 1989, 37 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Ithaca Festival Inc reported income of $115k and spending of $121k, spending 106% of what it took in. Across the 2 years on record, from August 2022 to August 2023, income fell from $133k to $115k (-14%), an average of -14% a year. Over the whole period it spent 114% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ithaca Festival Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 39th percentile within NY. Charities of a similar size with the same main cause include We Are All Music Foundation Inc ($115k), Seven West Forty Third Street Foundation Inc ($115k) and Beelzebubs Alumni Association Inc ($115k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 3.2% and program service revenue 97% of the total. At year end it held assets of $37k against liabilities of $58k, net assets of -$21k.