The Vail Jazz Foundation Inc

Analysis

The Vail Jazz Foundation Inc is a registered charity in United States, based in Vail, CO. It received its IRS tax-exemption ruling in December 1995, 31 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, The Vail Jazz Foundation Inc reported income of $1.0m and spending of $1.7m, spending 160% of what it took in. Across the 5 years on record, from October 2019 to December 2023, income fell from $1.3m to $1.0m (-18%), an average of -4.8% a year. The sharpest change came in the year to October 2021, when income rose by 86%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Vail Jazz Foundation Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 78th percentile within CO. Charities of a similar size with the same main cause include Preserve Rhode Island ($1.0m), Illinois Press Foundation Inc ($1.0m) and Huguenot Historical Society New Paltz N Y Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $63k (3.8% of expenses). Other salaries and wages came to $588k. At year end it held assets of $460k against liabilities of $25k, net assets of $435k. It reported 12 employees.