Musicfest Northwest

Analysis

Musicfest Northwest is a registered charity in United States, based in Spokane, WA. It received its IRS tax-exemption ruling in March 2022, 4 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 August 2023, Musicfest Northwest reported income of $51k and spending of $145k, spending 284% of what it took in. Across the 2 years on record, from August 2022 to August 2023, income grew from $10k to $51k (+394%), an average of +394% a year. The sharpest change came in the year to August 2023, when income rose by 394%. Over the whole period it spent 260% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Musicfest Northwest sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 14th percentile within WA. Charities of a similar size with the same main cause include Alta District Historial Societyinc ($51k), Jasper County Museum Foundation ($51k) and The Greenwood County Historical Society Inc ($51k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 51% and program service revenue 48% of the total. At year end it held assets of $195k against liabilities of $1,656, net assets of $193k.