Festival Music Society of Indiana

Analysis

Festival Music Society of Indiana is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in August 1967, 59 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 September 2023, Festival Music Society of Indiana reported income of $119k and spending of $222k, spending 186% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $222k to $119k (-46%), an average of -14% a year. The sharpest change came in the year to September 2023, when income dropped by 62%. Over the whole period it spent 66% 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 Music Society of Indiana sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 39th percentile within IN. Charities of a similar size with the same main cause include New Mexico Geological Society Inc ($119k), Elgin Public Museum Incorporated ($119k) and International Choral Festival Inc ($119k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 31% and program service revenue 66% of the total. It paid $10k in professional fundraising fees. At year end it held assets of $2.6m against liabilities of $2,612, net assets of $2.6m.