Virginia Highlands Festival Incorporated

Analysis

Virginia Highlands Festival Incorporated is a registered charity in United States, based in Abingdon, VA. It received its IRS tax-exemption ruling in July 1974, 52 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, Virginia Highlands Festival Incorporated reported income of $298k and spending of $283k, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $312k to $298k (-4.4%), an average of -1.1% a year. The sharpest change came in the year to December 2021, when income rose by 87%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Virginia Highlands Festival Incorporated sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 61st percentile within VA. Charities of a similar size with the same main cause include Homestead Youth Arts Center Inc ($298k), Childrens Musical Theatre of Bartlesville ($298k) and C G Jung Study Center ($298k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $47k (17% of expenses). At year end it held assets of $69k against liabilities of $61k, net assets of $7,487. It reported 1 employees.