Florida Litfest Inc

Analysis

Florida Litfest Inc is a registered charity in United States, based in Tallahassee, FL. It received its IRS tax-exemption ruling in April 2014, 12 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 June 2023, Florida Litfest Inc reported income of $652k and spending of $737k, spending 113% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $289k to $652k (+126%), an average of +31% a year. The sharpest change came in the year to June 2023, when income rose by 91%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Florida Litfest Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 76th percentile within FL. Charities of a similar size with the same main cause include Richardson Architecture Center Inc ($651k), Southold Dance Theater Inc ($652k) and Northfield Arts Guild ($651k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. At year end it held assets of $102k against liabilities of $54k, net assets of $48k.

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.