Philadelphia Music & Arts Festival LLC

Analysis

Philadelphia Music & Arts Festival LLC is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in November 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, Philadelphia Music & Arts Festival LLC reported income of $331k and spending of $279k, spending 84% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $265k to $331k (+25%), an average of +25% a year. The sharpest change came in the year to December 2023, when income rose by 25%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Philadelphia Music & Arts Festival LLC sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 61st percentile within PA. Charities of a similar size with the same main cause include Rokeby Museum Inc ($331k), Lynnfield Youth Hockey Assn Inc ($331k) and Jacarandamusic ($331k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $142k against liabilities of $7,012, net assets of $135k.