Festivals for Good Corporation

Analysis

Festivals for Good Corporation is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in May 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 2022, Festivals for Good Corporation reported income of $4.2m and spending of $4.4m, spending 105% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $818k to $4.2m (+409%), an average of +72% a year. The sharpest change came in the year to December 2022, when income rose by 6722%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Festivals for Good Corporation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within LA. Charities of a similar size with the same main cause include Memphis Museums Inc ($4.2m), American Society for Psychical Research Inc ($4.2m) and Hudson Valley Shakespeare Festival Inc ($4.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $235k against liabilities of $408k, net assets of -$172k.