Albuquerque Folk Festival

Analysis

Albuquerque Folk Festival 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 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 October 2023, Albuquerque Folk Festival reported income of $76k and spending of $58k, leaving 24% of income unspent that year. Across the 4 years on record, from October 2020 to October 2023, income grew from $13k to $76k (+484%), an average of +80% a year. The sharpest change came in the year to October 2021, when income rose by 300%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Albuquerque Folk Festival sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 25th percentile within NM. Charities of a similar size with the same main cause include Gilbert Baker Foundation Ltd ($76k), Glory of Peace and Love ($76k) and Jacob Leisler Institute for the Study of Early New York History in ($76k).

On its Form 990-EZ for the period ending October 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. At year end it held assets of $31k against liabilities of $1,038, net assets of $30k.