Cityfest Inc

Analysis

Cityfest Inc is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in February 1986, 40 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Cityfest Inc reported income of $1.9m and spending of $1.4m, leaving 25% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.9m to $1.9m (-0.1%), an average of +-0.0% a year. The sharpest change came in the year to June 2022, when income rose by 162%. Over the whole period it spent 79% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Cityfest Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 83rd percentile within DE. Charities of a similar size with the same main cause include Boise Timbers Thorns Soccer Club Inc ($1.9m), Moyo Missions Inc ($1.9m) and Rhode Island Interscholastic League Inc ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 8.0% of the total. At year end it held assets of $2.3m against liabilities of $662k, net assets of $1.7m.