South Beach Seafood Festival

Analysis

South Beach Seafood Festival is a registered charity in United States, based in Palmetto Bay, FL. It received its IRS tax-exemption ruling in June 2018, 8 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, South Beach Seafood Festival reported income of $851k and spending of $1.1m, spending 130% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $132k to $851k (+546%), an average of +86% a year. The sharpest change came in the year to December 2021, when income rose by 318%. Over the whole period it spent 130% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, South Beach Seafood Festival sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 79th percentile within FL. Charities of a similar size with the same main cause include Midland United Girls Softball Association ($850k), San Bernardino County Safety Employees Benefit Assoc Charity ($853k) and Making a Change Group ($850k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 85% of the total. At year end it held assets of $241k against liabilities of $932k, net assets of -$691k.

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.