Festival on the Brazos

Analysis

Festival on the Brazos is a registered charity in United States, based in Waco, TX. It received its IRS tax-exemption ruling in December 1970, 56 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 June 2023, Festival on the Brazos reported income of $595k and spending of $523k, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $456k to $595k (+30%), an average of +6.9% a year. The sharpest change came in the year to June 2022, when income rose by 89%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Festival on the Brazos sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 77th percentile within TX. Charities of a similar size with the same main cause include Piedmont Dispute Resolution Center Inc ($595k), Global Health Media Project Limited ($595k) and Worcester Chamber Music Society Inc ($594k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 40% and program service revenue 59% of the total. At year end it held assets of $239k against liabilities of $0, net assets of $239k.