Festa Italia Foundation

Analysis

Festa Italia Foundation is a registered charity in United States, based in Monterey, CA. It received its IRS tax-exemption ruling in April 1998, 28 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 December 2023, Festa Italia Foundation reported income of $54k and spending of $25k, leaving 53% of income unspent that year. Across the 3 years on record, from December 2019 to December 2023, income fell from $55k to $54k (-0.2%), an average of -0.1% a year. The sharpest change came in the year to December 2022, when income rose by 87%. Over the whole period it spent 32% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Festa Italia Foundation sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 23rd percentile within CA. Charities of a similar size with the same main cause include White Wings & Silver Strings ($54k), Ol Front Porch Music Festival ($54k) and Society for the Restoration of the Gary Bathing Beach Aquatorium ($54k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 30% of the total. At year end it held assets of $432k against liabilities of $2,185, net assets of $430k.