Friends of the Marthas Vineyard Concert Series

Analysis

Friends of the Marthas Vineyard Concert Series is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 2021, 5 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, Friends of the Marthas Vineyard Concert Series reported income of $8.7m and spending of $10.0m, spending 115% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $198k to $8.7m (+4280%), an average of +562% a year. The sharpest change came in the year to December 2022, when income rose by 3163%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Marthas Vineyard Concert Series sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within IL. Charities of a similar size with the same main cause include Machon Mashe Rockeach Inc ($8.7m), National Institute for Trial Advocacy ($8.7m) and Aperture Foundation Inc ($8.7m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $1.4m against liabilities of $2.0m, net assets of -$641k.