Olympic Music Festival

Analysis

Olympic Music Festival is a registered charity in United States, based in Port Townsend, WA. It received its IRS tax-exemption ruling in February 1980, 46 years ago. 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, Olympic Music Festival reported income of $303k and spending of $370k, spending 122% of what it took in. Across the 5 years on record, from September 2019 to December 2023, income grew from $292k to $303k (+3.9%), an average of +1.0% a year. The sharpest change came in the year to December 2021, when income rose by 75%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Olympic Music Festival sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 60th percentile within WA. Charities of a similar size with the same main cause include Anansi Day School ($303k), Sunshine Enrichment Cooperative ($303k) and Delaware Athletic Boosters Inc ($303k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 21% of the total. Other salaries and wages came to $203k. At year end it held assets of $162k against liabilities of $6,053, net assets of $156k. It reported 4 employees.