Skaneateles Festival Inc

Analysis

Skaneateles Festival Inc is a registered charity in United States, based in Skaneateles, NY. It received its IRS tax-exemption ruling in November 1980, 46 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, Skaneateles Festival Inc reported income of $1.1m and spending of $718k, leaving 33% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $779k to $1.1m (+37%), an average of +8.2% a year. The sharpest change came in the year to December 2021, when income rose by 182%. Over the whole period it spent 67% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Skaneateles Festival Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Lincoln Collection Endowment ($1.1m), Teatro Nuovo Inc ($1.1m) and Songfest ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $88k (12% of expenses). Other salaries and wages came to $386k. At year end it held assets of $2.8m against liabilities of $140k, net assets of $2.7m. It reported 27 employees.