West Virginia Italian Heritage Festival Inc

Analysis

West Virginia Italian Heritage Festival Inc is a registered charity in United States, based in Clarksburg, WV. It received its IRS tax-exemption ruling in September 1979, 47 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 October 2023, West Virginia Italian Heritage Festival Inc reported income of $399k and spending of $388k, spending 97% of its income. Across the 5 years on record, from October 2018 to October 2023, income fell from $428k to $399k (-6.9%), an average of -1.8% a year. The sharpest change came in the year to October 2022, when income rose by 84%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, West Virginia Italian Heritage Festival Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 65th percentile within WV. Charities of a similar size with the same main cause include Dancing Dreams ($399k), Cheyenne Center for Creativity Inc ($399k) and Southwest Renewal Foundation of High Point ($399k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 35% and program service revenue 65% of the total. Other salaries and wages came to $19k. At year end it held assets of $18k against liabilities of $73k, net assets of -$55k.