Festival of the Arts in Grand Rapids

Analysis

Festival of the Arts in Grand Rapids is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in July 2002, 24 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 September 2023, Festival of the Arts in Grand Rapids reported income of $247k and spending of $424k, spending 172% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $391k to $247k (-37%), an average of -11% a year. The sharpest change came in the year to September 2020, when income dropped by 42%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Festival of the Arts in Grand Rapids sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 57th percentile within MI. Charities of a similar size with the same main cause include Kern River Valley Art Association ($247k), Pocono Mountains Music Festival ($247k) and California Dance Ensemble ($247k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 55% and program service revenue 45% of the total. Other salaries and wages came to $57k. It paid $3,499 in professional fundraising fees. At year end it held assets of $161k against liabilities of $151k, net assets of $10k. It reported 1 employees.