International Friendship Gardens Music Festival Inc

Analysis

International Friendship Gardens Music Festival Inc is a registered charity in United States, based in Michigan City, IN. It received its IRS tax-exemption ruling in February 1946, 80 years ago. 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 December 2023, International Friendship Gardens Music Festival Inc reported income of $619k and spending of $636k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $612k to $619k (+1.1%), an average of +0.3% a year. The sharpest change came in the year to December 2021, when income rose by 18%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, International Friendship Gardens Music Festival Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within IN. Charities of a similar size with the same main cause include Capital Caring Advanced Illness Services Inc ($619k), Cove Valley Christian Youth Camp ($619k) and Mercy Housing California Senior Properties ($619k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 62% of the total. Other salaries and wages came to $297k. At year end it held assets of $843k against liabilities of $91k, net assets of $752k. It reported 20 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.