The Festival Foundation

Analysis

The Festival Foundation is a registered charity in United States, based in Traverse City, MI. It received its IRS tax-exemption ruling in December 2007, 19 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, The Festival Foundation reported income of $5.4m and spending of $5.3m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.0m to $5.4m (+32%), an average of +7.3% a year. The sharpest change came in the year to December 2021, when income rose by 549%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Festival Foundation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within MI. Charities of a similar size with the same main cause include Sheboygan County Y M C a ($5.4m), Help on the Way ($5.4m) and Mountain Home Montana Inc ($5.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.7% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $129k (2.4% of expenses). Other salaries and wages came to $474k. At year end it held assets of $1.4m against liabilities of $260k, net assets of $1.1m. It reported 16 employees.