The Crape Myrtle Festival Incorporated

Analysis

The Crape Myrtle Festival Incorporated is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in July 1993, 33 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, The Crape Myrtle Festival Incorporated reported income of $84k and spending of $86k, spending 102% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $42k to $84k (+99%), an average of +99% a year. The sharpest change came in the year to December 2023, when income rose by 99%. Over the whole period it spent 110% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, The Crape Myrtle Festival Incorporated sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 30th percentile within NC. Charities of a similar size with the same main cause include Midland Lacrosse Club ($84k), Sunwest Baseball ($84k) and Natick Lacrosse Inc ($84k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 101% of the total. At year end it held assets of $21k against liabilities of $0, net assets of $21k.