Colorado Music Festival

Analysis

Colorado Music Festival is a registered charity in United States, based in Boulder, CO. It received its IRS tax-exemption ruling in July 1976, 50 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 December 2023, Colorado Music Festival reported income of $3.4m and spending of $3.3m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.8m to $3.4m (+20%), an average of +4.7% a year. The sharpest change came in the year to December 2021, when income rose by 66%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Colorado Music Festival sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within CO. Charities of a similar size with the same main cause include Lowndes-Valdosta Arts Commission Inc ($3.4m), Reader Institute for Community Journalism Inc ($3.4m) and Beth Morrison Projects ($3.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $112k (3.4% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $1.7m against liabilities of $825k, net assets of $864k. It reported 189 employees.