Multi-Cultural Festival of WV Inc

Analysis

Multi-Cultural Festival of WV Inc is a registered charity in United States, based in Charleston, WV. It received its IRS tax-exemption ruling in May 1996, 30 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Multi-Cultural Festival of WV Inc reported income of $278k and spending of $292k, spending 105% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $200k to $278k (+39%), an average of +39% a year. The sharpest change came in the year to December 2023, when income rose by 39%. Over the whole period it spent 107% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Multi-Cultural Festival of WV 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 60th percentile, and in the 59th percentile within WV. Charities of a similar size with the same main cause include Hagerstown Youth Hockey Association Incorporated ($278k), Troup Co Recreation Endowment Fund ($278k) and Little League Baseball Inc ($278k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $6,525 (2.2% of expenses). At year end it held assets of $7,297 against liabilities of $0, net assets of $7,297.