Riverartsfest

Analysis

Riverartsfest is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in December 2012, 14 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 December 2023, Riverartsfest reported income of $438k and spending of $288k, leaving 34% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $330k to $438k (+33%), an average of +7.4% a year. The sharpest change came in the year to December 2021, when income rose by 301%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Riverartsfest sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within TN. Charities of a similar size with the same main cause include Oconee Cultural Arts Foundation ($438k), West Michigan Home School Fine Arts Association Inc ($438k) and Deltaville Maritime Museum & Holly Point Nature Park Inc ($438k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 65% of the total. At year end it held assets of $490k against liabilities of $2,700, net assets of $487k.