Albuquerque International Balloon Fiesta Inc

Analysis

Albuquerque International Balloon Fiesta Inc is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in December 1999, 27 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 2023, Albuquerque International Balloon Fiesta Inc reported income of $17.2m and spending of $14.9m, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.7m to $17.2m (+47%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 5379%. Over the whole period it spent 87% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Albuquerque International Balloon Fiesta Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NM. Charities of a similar size with the same main cause include Florida Citrus Sports Events Inc ($17.2m), USA Triathlon of Colorado ($17.4m) and Florida Strawberry Festival Inc ($17.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $156k (1.1% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $18.1m against liabilities of $585k, net assets of $17.5m. It reported 37 employees.