Mainsail Art Festival Incorporated

Analysis

Mainsail Art Festival Incorporated is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in April 1989, 37 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, Mainsail Art Festival Incorporated reported income of $209k and spending of $201k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $188k to $209k (+11%), an average of +2.7% a year. The sharpest change came in the year to December 2022, when income rose by 367%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mainsail Art Festival Incorporated sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 58th percentile within FL. Charities of a similar size with the same main cause include Mandarin Institute ($209k), Main Street Charles City ($209k) and Pacific International Choral Festiv ($209k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 88% of the total. At year end it held assets of $186k against liabilities of $0, net assets of $186k.