Carmel Bach Festival Inc

Analysis

Carmel Bach Festival Inc is a registered charity in United States, based in Carmel, CA. It received its IRS tax-exemption ruling in April 1961, 65 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, Carmel Bach Festival Inc reported income of $2.9m and spending of $3.2m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.6m to $2.9m (+11%), an average of +2.6% a year. The sharpest change came in the year to December 2021, when income rose by 50%. 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, Carmel Bach Festival Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include Burchfield-Penney Art Center ($2.9m), Richmond Performing Arts Alliance ($2.9m) and American Center for Optics Manufacturing Inc ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $227k (7.0% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $818k against liabilities of $192k, net assets of $626k. It reported 150 employees.