Charleston Literary Festival Inc

Analysis

Charleston Literary Festival Inc is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in June 2017, 9 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, Charleston Literary Festival Inc reported income of $1.1m and spending of $1.0m, spending 94% of its income. Across the 6 years on record, from August 2019 to December 2023, income grew from $365k to $1.1m (+193%), an average of +24% a year. The sharpest change came in the year to December 2023, when income rose by 182%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Charleston Literary Festival Inc sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 83rd percentile within SC. Charities of a similar size with the same main cause include Pennsylvania Avenue Black Arts and Entertainment District Inc ($1.1m), Cabd Inc ($1.1m) and Repertory Dance Theatre ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $75k (7.4% of expenses). At year end it held assets of $540k against liabilities of $90k, net assets of $450k.