Cedar Rapids Freedom Festival Inc

Analysis

Cedar Rapids Freedom Festival Inc is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in March 1993, 33 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, Cedar Rapids Freedom Festival Inc reported income of $420k and spending of $474k, spending 113% of what it took in. Across the 4 years on record, from September 2020 to September 2023, income grew from $274k to $420k (+53%), an average of +15% a year. The sharpest change came in the year to September 2021, when income rose by 28%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cedar Rapids Freedom Festival Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 70th percentile within IA. Charities of a similar size with the same main cause include Talea Ensemble Incorporated ($420k), State Theatre for the Arts ($420k) and Hawaii Academy of Science ($420k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 84% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $64k (14% of expenses). Other salaries and wages came to $42k. At year end it held assets of $163k against liabilities of $1,108, net assets of $162k. It reported 6 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.