Holland Tulip Time Festival Inc

Analysis

Holland Tulip Time Festival Inc is a registered charity in United States, based in Holland, MI. It received its IRS tax-exemption ruling in November 2008, 18 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, Holland Tulip Time Festival Inc reported income of $2.2m and spending of $2.1m, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $2.3m to $2.2m (-2.3%), an average of -0.6% a year. The sharpest change came in the year to September 2022, when income rose by 94%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Holland Tulip Time Festival Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within MI. Charities of a similar size with the same main cause include The Mattress Factory ($2.2m), Friends of the Chicago River ($2.2m) and Rancho Los Alamitos Foundation ($2.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 34% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $133k (6.3% of expenses). Other salaries and wages came to $244k. At year end it held assets of $1.5m against liabilities of $437k, net assets of $1.0m. It reported 20 employees.