Lowell Festival Foundation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 1,438,881 | 1,531,550 | −92,669 | 1.8 | 12% |
| 2021 | 126,924 | 209,775 | −82,851 | 8.3 | 61% |
| 2022 | 1,338,861 | 843,592 | 495,269 | 9.1 | 21% |
| 2023 | 1,529,587 | 1,552,966 | −23,379 | 4.8 | 14% |
| 2024 | 1,824,172 | 1,949,382 | −125,210 | 3.5 | 11% |
In its most recent public year (2024), this organization spent $125,210 more than it brought in. Its reserves stood at about 3.5 months of spending, up from 1.8 in 2020. Staff pay was 11% of spending. $70,541 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2024. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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