North Carolina Azalea Festival Wilmington Inc

Analysis

North Carolina Azalea Festival Wilmington Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in November 2016, 10 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 September 2023, North Carolina Azalea Festival Wilmington Inc reported income of $3.4m and spending of $1.7m, leaving 51% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.0m to $3.4m (+69%), an average of +14% a year. The sharpest change came in the year to September 2021, when income rose by 1983%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, North Carolina Azalea Festival Wilmington Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within NC. Charities of a similar size with the same main cause include Cornelius Arts Community Center Inc ($3.4m), B612 Foundation ($3.4m) and International Food Information Council Foundation ($3.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 54% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $79k (4.7% of expenses). Other salaries and wages came to $99k. At year end it held assets of $1.7m against liabilities of $38k, net assets of $1.7m. It reported 12 employees.