Berea Arts Fest Inc

Analysis

Berea Arts Fest Inc is a registered charity in United States, based in Berea, OH. It received its IRS tax-exemption ruling in July 1991, 35 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, Berea Arts Fest Inc reported income of $57k and spending of $66k, spending 117% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $58k to $57k (-1.5%), an average of -1.5% a year. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Berea Arts Fest Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 23rd percentile within OH. Charities of a similar size with the same main cause include Style-City Music ($57k), Little Theatre of Jefferson City ($57k) and Windy City Entertainment Inc ($57k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 42% of the total. At year end it held assets of $82k against liabilities of $28k, net assets of $54k.