Cherry Creek Arts Festival

Analysis

Cherry Creek Arts Festival is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in October 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Cherry Creek Arts Festival reported income of $2.1m and spending of $2.5m, spending 116% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $2.8m to $2.1m (-25%), an average of -6.9% a year. The sharpest change came in the year to September 2021, when income rose by 285%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cherry Creek Arts Festival sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within CO. Charities of a similar size with the same main cause include National Association of Watch and Clock Collectors Inc ($2.1m), Institute for Higher Education Policy ($2.1m) and Culture Aid Nola ($2.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 53% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $138k (5.6% of expenses). Other salaries and wages came to $214k. At year end it held assets of $3.1m against liabilities of $317k, net assets of $2.8m. It reported 5 employees.