Fort Smith Music and Arts Festival Inc

Analysis

Fort Smith Music and Arts Festival Inc is a registered charity in United States, based in Fort Smith, AR. It received its IRS tax-exemption ruling in March 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, Fort Smith Music and Arts Festival Inc reported income of $464k and spending of $804k, spending 173% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $468k to $464k (-0.8%), an average of -0.2% a year. The sharpest change came in the year to December 2020, when income rose by 62%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fort Smith Music and Arts Festival Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 71st percentile within AR. Charities of a similar size with the same main cause include Greater Hartford Festival of Jazz ($464k), Jazzmobile Inc ($464k) and Silver Beach Carousel Society Inc ($464k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 55% of the total. At year end it held assets of $178k against liabilities of $0, net assets of $178k.