Springfield Old Capitol Art Fair

Analysis

Springfield Old Capitol Art Fair is a registered charity in United States, based in Springfield, IL. It received its IRS tax-exemption ruling in June 1987, 39 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, Springfield Old Capitol Art Fair reported income of $71k and spending of $85k, spending 120% of what it took in. Across the 4 years on record, from September 2019 to September 2023, income fell from $101k to $71k (-30%), an average of -11% a year. The sharpest change came in the year to September 2022, when income rose by 802%. Over the whole period it spent 114% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Springfield Old Capitol Art Fair sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 29th percentile within IL. Charities of a similar size with the same main cause include Pittsburgh Chinese Culture Center Inc ($71k), Historic Morgantown Post Office Building Inc ($71k) and Afghan American Foundation ($71k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 21% and program service revenue 76% of the total. At year end it held assets of $82k against liabilities of $0, net assets of $82k.

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.