Puerto Rican Festival Inc

Analysis

Puerto Rican Festival Inc is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in September 1997, 29 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 December 2023, Puerto Rican Festival Inc reported income of $320k and spending of $286k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $297k to $320k (+7.7%), an average of +1.9% a year. The sharpest change came in the year to December 2021, when income rose by 419%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Puerto Rican Festival Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Historic Railroad Square Association ($320k), Alabama Veterans Museum & Archives ($320k) and Lansing Art Gallery & Education Center ($320k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 46% of the total. At year end it held assets of $38k against liabilities of $2,835, net assets of $35k.