Independent Television Festivalincorporated

Analysis

Independent Television Festivalincorporated is a registered charity in United States, based in Rosemount, MN. It received its IRS tax-exemption ruling in December 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Independent Television Festivalincorporated reported income of $174k and spending of $259k, spending 149% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $750k to $174k (-77%), an average of -31% a year. The sharpest change came in the year to December 2020, when income dropped by 73%. Over the whole period it spent 119% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Independent Television Festivalincorporated sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within MN. Charities of a similar size with the same main cause include Albertville City Schools Foundation ($174k), Children of the World Learning Center ($174k) and Falmouth Education Foundation Inc ($174k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $17k (6.4% of expenses). Other salaries and wages came to $17k. At year end it held assets of $25k against liabilities of $740k, net assets of -$715k. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.