Anacortes Arts Festival

Analysis

Anacortes Arts Festival is a registered charity in United States, based in Anacortes, WA. It received its IRS tax-exemption ruling in January 2003, 23 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, Anacortes Arts Festival reported income of $493k and spending of $710k, spending 144% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $371k to $493k (+33%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 55%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Anacortes Arts Festival sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 69th percentile within WA. Charities of a similar size with the same main cause include Theater Bug Inc ($493k), Maltz Jupiter Theatre Foundation Inc ($493k) and Americana Music Association Foundation ($493k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.6% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $102k (14% of expenses). Other salaries and wages came to $64k. At year end it held assets of $395k against liabilities of $0, net assets of $395k. It reported 4 employees.