Great Lakes Chamber Music Festival Operating Corporation

Analysis

Great Lakes Chamber Music Festival Operating Corporation is a registered charity in United States, based in Southfield, MI. It received its IRS tax-exemption ruling in June 2004, 22 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 July 2023, Great Lakes Chamber Music Festival Operating Corporation reported income of $694k and spending of $615k, spending 89% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $580k to $694k (+20%), an average of +4.6% a year. The sharpest change came in the year to July 2020, when income dropped by 38%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Great Lakes Chamber Music Festival Operating Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within MI. Charities of a similar size with the same main cause include Saratoga Arts Inc ($694k), Ballet Artists of Wny Inc ($694k) and Charlotte County Art Guild Inc ($694k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 84% and program service revenue 13% of the total. At year end it held assets of $798k against liabilities of $45k, net assets of $753k.