Pawleys Island Festival of Music and Art Inc

Analysis

Pawleys Island Festival of Music and Art Inc is a registered charity in United States, based in Pawleys Isl, SC. It received its IRS tax-exemption ruling in August 1998, 28 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 December 2023, Pawleys Island Festival of Music and Art Inc reported income of $512k and spending of $478k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $395k to $512k (+30%), an average of +6.7% a year. The sharpest change came in the year to December 2021, when income rose by 412%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Pawleys Island Festival of Music and Art Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 75th percentile within SC. Charities of a similar size with the same main cause include Speak Up Tampa Bay Public Access Television Inc ($512k), Chicken Bone Beach Historical Foundation Inc ($512k) and Grouseland Foundation Inc ($512k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $66k (14% of expenses). At year end it held assets of $434k against liabilities of $0, net assets of $434k.