National Jazz Festival Inc

Analysis

National Jazz Festival Inc is a registered charity in United States, based in Middletown, DE. It received its IRS tax-exemption ruling in May 2020, 6 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 July 2023, National Jazz Festival Inc reported income of $56k and spending of $64k, spending 116% of what it took in. Across the 2 years on record, from July 2022 to July 2023, income grew from $10k to $56k (+436%), an average of +436% a year. The sharpest change came in the year to July 2023, when income rose by 436%. Over the whole period it spent 122% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, National Jazz Festival Inc sits at the 25th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 20th percentile within DE. Charities of a similar size with the same main cause include New Wave Dance Youth and Community Development Inc ($56k), Southern Regional H S Music Parents Organization ($56k) and Rome Community Theater Inc ($56k).

On its Form 990-EZ for the period ending July 2023, revenue came from contributions and grants 24% and program service revenue 61% of the total. At year end it held assets of $13k against liabilities of $9,428, net assets of $3,412.