Hyde Park Jazz Festival

Analysis

Hyde Park Jazz Festival is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 2009, 17 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, Hyde Park Jazz Festival reported income of $479k and spending of $534k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $331k to $479k (+45%), an average of +9.7% a year. The sharpest change came in the year to December 2021, when income rose by 142%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hyde Park Jazz Festival sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 69th percentile within IL. Charities of a similar size with the same main cause include The Foundation for Advancements in Science and Education ($479k), Adopt the Arts Foundation ($479k) and Workshop 13 Inc ($479k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $74k (14% of expenses). At year end it held assets of $293k against liabilities of $14k, net assets of $278k. It reported 2 employees.