Sitka Music Festival Inc

Analysis

Sitka Music Festival Inc is a registered charity in United States, based in Sitka, AK. It received its IRS tax-exemption ruling in April 1980, 46 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, Sitka Music Festival Inc reported income of $531k and spending of $597k, spending 112% of what it took in. Across the 6 years on record, from August 2019 to December 2023, income fell from $1.2m to $531k (-54%), an average of -14% a year. The sharpest change came in the year to December 2023, when income rose by 172%. Over the whole period it spent 49% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sitka Music Festival Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 68th percentile within AK. Charities of a similar size with the same main cause include Burlington Riverfront Entertainment ($531k), Ella Sharp Museum Association of Jackson ($531k) and Center for Severe Weather Research Inc ($531k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 27% of the total. Other salaries and wages came to $212k. At year end it held assets of $4.2m against liabilities of $15k, net assets of $4.1m. It reported 5 employees.