Red Lodge Music Festival

Analysis

Red Lodge Music Festival is a registered charity in United States, based in Billings, MT. It received its IRS tax-exemption ruling in October 1967, 59 years ago. 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 September 2023, Red Lodge Music Festival reported income of $171k and spending of $151k, spending 89% of its income. Across the 2 years on record, from September 2022 to September 2023, income grew from $124k to $171k (+37%), an average of +37% a year. The sharpest change came in the year to September 2023, when income rose by 37%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Red Lodge Music Festival sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 49th percentile within MT. Charities of a similar size with the same main cause include Grant County Historical Society ($171k), Project Refit ($171k) and Buddy and Sara Gibson Ministry ($171k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 20% and program service revenue 71% of the total. At year end it held assets of $135k against liabilities of $0, net assets of $135k.