Festival of Arts of Laguna Beach

Analysis

Festival of Arts of Laguna Beach is a registered charity in United States, based in Laguna Beach, CA. It received its IRS tax-exemption ruling in February 1940, 86 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 September 2023, Festival of Arts of Laguna Beach reported income of $10.4m and spending of $9.6m, spending 92% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $10.7m to $10.4m (-2.5%), an average of -0.6% a year. The sharpest change came in the year to September 2021, when income rose by 1337%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Festival of Arts of Laguna Beach sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include An Claidheamh Soluis Inc ($10.4m), Plimoth Patuxet Museums Inc ($10.4m) and Nelson Gallery Foundation ($10.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 11% and program service revenue 81% of the total. At year end it held assets of $12.7m against liabilities of $846k, net assets of $11.9m. It reported 367 employees.