Festival of Lights

Analysis

Festival of Lights is a registered charity in United States, based in Carthage, IL. It received its IRS tax-exemption ruling in May 2024, 2 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 2022, Festival of Lights reported income of $205k and spending of $218k, spending 107% of what it took in. Across the 3 years on record, from December 2020 to December 2022, income grew from $81k to $205k (+153%), an average of +59% a year. The sharpest change came in the year to December 2021, when income rose by 222%. Over the whole period it spent 115% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Festival of Lights sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 55th percentile within IL. Charities of a similar size with the same main cause include Elite Baseball Club Inc ($205k), Great Neck Athletic Association ($205k) and Alton Fighting Irish Soccer Club NFP ($205k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 3.3% and program service revenue 97% of the total. At year end it held assets of $78k against liabilities of $42k, net assets of $36k.