Strings Music Festival

Analysis

Strings Music Festival is a registered charity in United States, based in Steamboat SPR, CO. It received its IRS tax-exemption ruling in January 1989, 37 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 September 2023, Strings Music Festival reported income of $2.7m and spending of $3.2m, spending 116% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.2m to $2.7m (+22%), an average of +5.0% a year. The sharpest change came in the year to September 2021, when income rose by 94%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Strings Music Festival sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within CO. Charities of a similar size with the same main cause include Creative Arkansas Community and Exchange Inc Cache ($2.7m), Apollos Fire Baroque ($2.7m) and The Arts Campus at Willits ($2.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 47% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $242k (7.6% of expenses). Other salaries and wages came to $707k. At year end it held assets of $8.9m against liabilities of $61k, net assets of $8.8m. It reported 37 employees.