Highlands Chamber Music Festival Inc

Analysis

Highlands Chamber Music Festival Inc is a registered charity in United States, based in Highlands, NC. It received its IRS tax-exemption ruling in March 1984, 42 years ago. 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, Highlands Chamber Music Festival Inc reported income of $542k and spending of $537k, spending 99% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $484k to $542k (+12%), an average of +2.9% a year. The sharpest change came in the year to September 2021, when income rose by 101%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Highlands Chamber Music Festival Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within NC. Charities of a similar size with the same main cause include Upward Bound Camp for Persons with Special Needs Inc ($542k), LA Jolla Rotary Foundation ($542k) and Forgotten Soldiers Outreach Inc ($542k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 60% and program service revenue 22% of the total. Other salaries and wages came to $74k. At year end it held assets of $1.3m against liabilities of $2,476, net assets of $1.3m. It reported 3 employees.