Roots & Heritage Festival Inc

Analysis

Roots & Heritage Festival Inc is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in June 2023, 3 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Roots & Heritage Festival Inc reported income of $68k and spending of $77k, spending 113% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $36k to $68k (+90%), an average of +38% a year. The sharpest change came in the year to December 2022, when income rose by 103%. Over the whole period it spent 114% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Roots & Heritage Festival Inc sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 25th percentile within KY. Charities of a similar size with the same main cause include Fire Fighters Historical Preservation Foundation of Missour ($68k), Manchester Historical Society ($68k) and United Youth Theatre Inc ($68k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. At year end it held assets of $13k against liabilities of $5,000, net assets of $8,295.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.