Milwaukee World Festival Inc

Analysis

Milwaukee World Festival Inc is a registered charity in United States, based in Milwaukee, WI. 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 (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, Milwaukee World Festival Inc reported income of $75.4m and spending of $76.7m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $53.6m to $75.4m (+41%), an average of +8.9% a year. The sharpest change came in the year to December 2021, when income rose by 1033%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Milwaukee World Festival Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within WI. Charities of a similar size with the same main cause include The Colburn School ($74.2m), Manhattan School of Music ($75.5m) and Academy of Mathematics & Science South Inc ($73.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $2.8m (3.7% of expenses). Other salaries and wages came to $7.8m. At year end it held assets of $110.2m against liabilities of $84.8m, net assets of $25.3m. It reported 2,003 employees.

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.