Festival in the Park of Danville Inc

Analysis

Festival in the Park of Danville Inc is a registered charity in United States, based in Danville, VA. It received its IRS tax-exemption ruling in January 1988, 38 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Festival in the Park of Danville Inc reported income of $55k and spending of $54k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $53k to $55k (+3.0%), an average of +0.7% a year. The sharpest change came in the year to December 2020, when income dropped by 100%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Festival in the Park of Danville Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 21st percentile within VA. Charities of a similar size with the same main cause include Manneqart Inc ($55k), California Armenian Legislative Caucus ($55k) and Greater Renovo Area Heritage Park ($55k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 88% of the total. At year end it held assets of $41k against liabilities of $0, net assets of $41k.