Nantucket Comedy Festival Inc

Analysis

Nantucket Comedy Festival Inc is a registered charity in United States, based in Nantucket, MA. It received its IRS tax-exemption ruling in October 2009, 17 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, Nantucket Comedy Festival Inc reported income of $263k and spending of $272k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $226k to $263k (+16%), an average of +3.9% a year. The sharpest change came in the year to December 2021, when income rose by 98%. Over the whole period it spent 112% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Nantucket Comedy Festival Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 62nd percentile within MA. Charities of a similar size with the same main cause include Lafayette Area Catholic Schools Foundation Inc ($263k), Maple Valley Anthon Oto School Foundation Inc ($263k) and Southwest Mississippi Junior College Development Foundation ($263k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $60k (22% of expenses). At year end it held assets of $4,332 against liabilities of $131k, net assets of -$127k.

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.