Festival Center Inc

Analysis

Festival Center Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in June 1987, 39 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Festival Center Inc reported income of $1.5m and spending of $1.7m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.5m (+44%), an average of +9.6% a year. The sharpest change came in the year to December 2023, when income rose by 107%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Festival Center Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 61st percentile within DC. Charities of a similar size with the same main cause include Charleston Recovery Center Inc ($1.5m), Consumer Debt Counselors Inc ($1.5m) and Sixth Man Center Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $94k (5.4% of expenses). Other salaries and wages came to $436k. It paid $20k in professional fundraising fees. At year end it held assets of $8.4m against liabilities of $4.9m, net assets of $3.6m. It reported 10 employees.