Dogwood Arts Festival Inc

Analysis

Dogwood Arts Festival Inc is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in February 1968, 58 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 June 2023, Dogwood Arts Festival Inc reported income of $2.4m and spending of $2.2m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.5m to $2.4m (-1.7%), an average of -0.4% a year. The sharpest change came in the year to June 2021, when income rose by 53%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Dogwood Arts Festival Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within TN. Charities of a similar size with the same main cause include Cultural Arts Center at Glen Allen Foundation ($2.4m), Maritime and Seafood Industry Museum of Biloxi Inc ($2.4m) and Loft Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $100k (4.5% of expenses). Other salaries and wages came to $247k. At year end it held assets of $1.8m against liabilities of $330k, net assets of $1.5m. It reported 7 employees.