African American Cultural Festival of Raleigh Wake County Inc

Analysis

African American Cultural Festival of Raleigh Wake County Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in February 2014, 12 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, African American Cultural Festival of Raleigh Wake County Inc reported income of $417k and spending of $387k, spending 93% of its income. Across the 4 years on record, from December 2018 to December 2023, income grew from $266k to $417k (+57%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 30%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, African American Cultural Festival of Raleigh Wake County Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within NC. Charities of a similar size with the same main cause include National Society of the Daughters of the American Revolution ($417k), Youth Music Monterey ($417k) and California Wine Education Foundation ($416k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $112k (29% of expenses). At year end it held assets of $92k against liabilities of $8,832, net assets of $83k. It reported 3 employees.