Twin Cities International Film Festival

Analysis

Twin Cities International Film Festival is a registered charity in United States, based in St Louis Park, MN. It received its IRS tax-exemption ruling in October 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Twin Cities International Film Festival reported income of $531k and spending of $579k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to March 2024, income grew from $367k to $531k (+45%), an average of +9.7% a year. The sharpest change came in the year to March 2023, when income rose by 67%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Twin Cities International Film Festival sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within MN. Charities of a similar size with the same main cause include Ella Sharp Museum Association of Jackson ($531k), Virginia African American Cultural Center ($531k) and Sitka Music Festival Inc ($531k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 80% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $102k (18% of expenses). Other salaries and wages came to $135k. At year end it held assets of $54k against liabilities of $73k, net assets of -$19k. It reported 5 employees.

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.