North Carolina Association of Festivals

Analysis

North Carolina Association of Festivals is a registered charity in United States, based in Lexington, NC. It received its IRS tax-exemption ruling in September 2014, 12 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, North Carolina Association of Festivals reported income of $72k and spending of $68k, spending 94% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $66k to $72k (+8.7%), an average of +8.7% a year. Over the whole period it spent 90% 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 Association of Festivals sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 26th percentile within NC. Charities of a similar size with the same main cause include Laker Band Boosters in ($72k), Seaside Arts Council ($72k) and Lafayette Rambler Band Inc ($72k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 40% and program service revenue 60% of the total. At year end it held assets of $29k against liabilities of $0, net assets of $29k.