Madison Festivals Inc

Analysis

Madison Festivals Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in April 1981, 45 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Madison Festivals Inc reported income of $1.4m and spending of $1.3m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.6m to $1.4m (-13%), an average of -3.3% a year. The sharpest change came in the year to December 2021, when income rose by 6461%. Over the whole period it spent 105% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Madison Festivals Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within WI. Charities of a similar size with the same main cause include Alabama Golf Association Inc ($1.4m), Cascade Boosters Club Incorporated ($1.4m) and Pacesetter Soccer Club ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.8% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $128k (9.5% of expenses). Other salaries and wages came to $72k. At year end it held assets of $605k against liabilities of $410k, net assets of $195k. It reported 2 employees.