Friends of the Festival Foundation

Analysis

Friends of the Festival Foundation is a registered charity in United States, based in Orange City, IA. It received its IRS tax-exemption ruling in January 2003, 23 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Friends of the Festival Foundation reported income of $338k and spending of $310k, spending 92% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $219k to $338k (+54%), an average of +11% a year. The sharpest change came in the year to September 2021, when income rose by 82%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Festival Foundation sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 66th percentile within IA. Charities of a similar size with the same main cause include Southwest Symphony Orchestra Inc ($338k), International Society for CNS Drug Development Inc ($338k) and The City Choir of Washington ($338k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 18% and program service revenue 82% of the total. At year end it held assets of $149k against liabilities of $0, net assets of $149k.