Sitka Music Festival Foundation

Analysis

Sitka Music Festival Foundation is a registered charity in United States, based in Sitka, AK. It received its IRS tax-exemption ruling in January 1982, 44 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, Sitka Music Festival Foundation reported income of $144k and spending of $54k, leaving 63% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $50k to $144k (+187%), an average of +30% a year. The sharpest change came in the year to December 2021, when income rose by 166%. 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 Foundation sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 41st percentile within AK. Charities of a similar size with the same main cause include Berkeley Castle Foundation Inc ($144k), Festival Ballet Virginia Inc ($144k) and Sbdny Inc ($144k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% of the total. At year end it held assets of $1.5m against liabilities of $0, net assets of $1.5m.