Columbia Music Festival Assoc

Analysis

Columbia Music Festival Assoc is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in April 1938, 88 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 June 2023, Columbia Music Festival Assoc reported income of $370k and spending of $423k, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $399k to $370k (-7.1%), an average of -1.8% a year. The sharpest change came in the year to June 2022, when income rose by 72%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Columbia Music Festival Assoc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 70th percentile within SC. Charities of a similar size with the same main cause include Dawn Mountain ($370k), Side Street Projects ($371k) and Wichita Falls Ballet Theater Inc ($370k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $80k (19% of expenses). Other salaries and wages came to $136k. At year end it held assets of $285k against liabilities of $0, net assets of $285k. It reported 6 employees.