Michigan Fiber Festival Inc

Analysis

Michigan Fiber Festival Inc is a registered charity in United States, based in Hastings, MI. It received its IRS tax-exemption ruling in July 1996, 30 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 December 2023, Michigan Fiber Festival Inc reported income of $123k and spending of $110k, spending 90% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $114k to $123k (+7.8%), an average of +7.8% a year. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Michigan Fiber Festival Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 42nd percentile within MI. Charities of a similar size with the same main cause include Mount Lebanon Band Builders ($123k), Country Dance & Song Society Inc ($123k) and Greater Ridgewood Historical Society Inc ($123k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.8% and program service revenue 95% of the total. At year end it held assets of $154k against liabilities of $0, net assets of $154k.