Cape May Jazz Festival Foundation

Analysis

Cape May Jazz Festival Foundation is a registered charity in United States, based in Cape May, NJ. It received its IRS tax-exemption ruling in March 2020, 6 years ago. 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 June 2023, Cape May Jazz Festival Foundation reported income of $235k and spending of $248k, spending 106% of what it took in. Across the 2 years on record, from December 2022 to June 2023, income fell from $462k to $235k (-49%), an average of -49% a year. The sharpest change came in the year to June 2023, when income dropped by 49%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cape May Jazz Festival Foundation sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 64th percentile within NJ. Charities of a similar size with the same main cause include PTA New York Congress ($235k), San Diego County Parks Society ($235k) and Hamilton Heights Neighborhood Organization Inc ($235k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 82% of the total. At year end it held assets of $11k against liabilities of $0, net assets of $11k.