Fotofest Inc

Analysis

Fotofest Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in August 1984, 42 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 April 2023, Fotofest Inc reported income of $1.8m and spending of $1.7m, spending 91% of its income. Across the 5 years on record, from April 2019 to April 2023, income grew from $1.0m to $1.8m (+81%), an average of +16% a year. The sharpest change came in the year to April 2022, when income rose by 54%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fotofest Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 89th percentile within TX. Charities of a similar size with the same main cause include Blank Forms Inc ($1.8m), McSweeneys Literary Arts Fund ($1.8m) and RPM Nautical Foundation ($1.8m).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 62% and program service revenue 7.8% of the total. Compensation of current officers, directors and key employees was $110k (6.6% of expenses). Other salaries and wages came to $298k. At year end it held assets of $2.4m against liabilities of $771k, net assets of $1.6m. It reported 12 employees.