Harbor Springs Festival of the Book

Analysis

Harbor Springs Festival of the Book is a registered charity in United States, based in Harbor SPGS, MI. It received its IRS tax-exemption ruling in December 2015, 11 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 December 2023, Harbor Springs Festival of the Book reported income of $447k and spending of $393k, spending 88% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $234k to $447k (+91%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 55%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Harbor Springs Festival of the Book 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 68th percentile within MI. Charities of a similar size with the same main cause include Lehigh County Historical Society ($447k), Carver County Historical Society Inc ($447k) and Trinity One Theatre Troupe Inc ($447k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $57k (14% of expenses). Other salaries and wages came to $13k. At year end it held assets of $224k against liabilities of $5,161, net assets of $219k. It reported 3 employees.