Choral Masterworks Festival Inc

Analysis

Choral Masterworks Festival Inc is a registered charity in United States, based in Tampa, 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 June 2023, Choral Masterworks Festival Inc reported income of $270k and spending of $281k, spending 104% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $263k to $270k (+2.5%), an average of +0.8% a year. The sharpest change came in the year to June 2022, when income rose by 40%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Choral Masterworks Festival Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 63rd percentile within FL. Charities of a similar size with the same main cause include Pennsylvania Heritage Foundation ($270k), West Michigan Community Help Network ($270k) and South Side Suzuki Cooperative ($270k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 76% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $94k (33% of expenses). Other salaries and wages came to $14k. At year end it held assets of $59k against liabilities of $54k, net assets of $4,884. It reported 3 employees.