Charleston Wine & Food Festival
Charleston Wine & Food Festival reports a $1.5 million deficit in 2023 after a strong surplus in 2022, with fluctuating revenues and assets.
EIN: 202671674 · Charleston, SC · NTEE: K12 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.6M |
| Total Expenses | $6.0M |
| Program Spending | 75% |
| Net Assets | $579K |
| Transparency Score | 65/100 |
Is Charleston Wine & Food Festival Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Charleston Wine & Food Festival directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Charleston Wine & Food Festival
Charleston Wine & Food Festival (EIN: 202671674) is a nonprofit organization based in Charleston, SC, classified under NTEE code K12. The organization reported total revenue of $4.6M and total assets of $977K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Charleston Wine & Food Festival's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Charleston Wine & Food Festival is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.5M |
| Total Expenses | $6.0M |
| Surplus / Deficit | $-1,502,141 |
| Total Assets | $1.1M |
| Total Liabilities | $561K |
| Net Assets | $579K |
| Operating Margin | -33.1% |
| Debt-to-Asset Ratio | 49.2% |
| Months of Reserves | 2.3 months |
Financial Health Grade: C
In 2023, Charleston Wine & Food Festival reported a deficit of $1.5M with expenses exceeding revenue, holds 2.3 months of operating reserves (limited), has a debt-to-asset ratio of 49.2% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Charleston Wine & Food Festival's revenue has grown at a compound annual growth rate (CAGR) of 5.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -32.6% | +13.0% | -46.5% |
| 2022 | +974.7% | +383.8% | +132.2% |
| 2021 | -85.2% | -71.9% | -32.2% |
| 2020 | +2.7% | -1.1% | +39.5% |
| 2019 | -0.2% | +12.2% | +24.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Charleston Wine & Food Festival with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Charleston Wine & Food Festival allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.5M, with expenses exceeding revenue.
- Debt-to-asset ratio: 49.2%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no compensation is directly paid to officers as reported on the IRS 990, which is a positive sign for transparency in this specific area.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Charleston Wine & Food Festival's IRS 990 filings:
- Significant operating deficit in 2023 ($1.5M loss)
- High increase in liabilities in 2023 ($560,618 from $48,492)
- Volatile revenue and expense patterns year-over-year
- Decrease in assets from $2.1M in 2022 to $1.1M in 2023
Strengths
The following positive indicators were identified for Charleston Wine & Food Festival:
- Consistent reporting of 0% officer compensation
- Demonstrated ability to generate substantial revenue in peak years (e.g., $6.7M in 2022)
- Long filing history (13 filings) indicating established operations
Frequently Asked Questions about Charleston Wine & Food Festival
Is Charleston Wine & Food Festival a legitimate charity?
Based on AI analysis of IRS 990 filings, Charleston Wine & Food Festival (EIN: 202671674) some concerns. Mission Score: 65/100. 4 red flags identified, 3 strengths noted.
How does Charleston Wine & Food Festival spend its money?
Charleston Wine & Food Festival directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Charleston Wine & Food Festival tax-deductible?
Charleston Wine & Food Festival is registered as a tax-exempt nonprofit (EIN: 202671674). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Charleston Wine & Food Festival's spending goes to programs?
Charleston Wine & Food Festival directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Charleston Wine & Food Festival compare to similar nonprofits?
With a transparency score of 65/100 (Good), Charleston Wine & Food Festival is above average for NTEE category K12 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Charleston Wine & Food Festival located?
Charleston Wine & Food Festival is headquartered in Charleston, South Carolina and files with the IRS under EIN 202671674. It is classified under NTEE code K12.
How many years of IRS 990 filings does Charleston Wine & Food Festival have?
Charleston Wine & Food Festival has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $4.6M in total revenue.
Is Charleston Wine & Food Festival financially stable given the recent deficit?
The organization experienced a $1.5 million deficit in 2023, with expenses of $6,042,534 exceeding revenue of $4,540,393. This raises concerns about short-term financial stability, especially compared to the $1.4 million surplus in 2022.
What caused the significant increase in liabilities in 2023?
Liabilities jumped from $48,492 in 2022 to $560,618 in 2023. This substantial increase warrants further investigation into the nature of these obligations and their impact on the organization's financial health.
How does the organization manage its cash flow with such volatile revenue?
Revenue has fluctuated dramatically, from $626,948 in 2021 to $6,737,889 in 2022, and then down to $4,540,393 in 2023. Managing cash flow effectively with such variability is critical and requires robust financial planning.
Are there any indirect forms of executive compensation not captured by the 0% officer comp?
While direct officer compensation is reported as 0%, it's important to ensure that no key management personnel are compensated through related organizations or other mechanisms not reflected in this specific line item on the 990.
Filing History
IRS 990 filing history for Charleston Wine & Food Festival showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Charleston Wine & Food Festival's revenue has grown by 96.3%, moving from $2.3M to $4.5M. Total assets increased by 353.9% over the same period, from $251K to $1.1M. Total functional expenses rose by 163.7%, from $2.3M to $6.0M. In its most recent filing year (2023), Charleston Wine & Food Festival reported a deficit of $1.5M, with expenses exceeding revenue. The organization holds $561K in liabilities against $1.1M in assets (debt-to-asset ratio: 49.2%), resulting in net assets of $579K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.5M | $6.0M | $1.1M | $561K | — | — |
| 2022 | $6.7M | $5.3M | $2.1M | $48K | — | View 990 |
| 2021 | $627K | $1.1M | $917K | $225K | — | View 990 |
| 2020 | $4.2M | $3.9M | $1.4M | $182K | — | View 990 |
| 2019 | $4.1M | $4.0M | $970K | $113K | — | View 990 |
| 2018 | $4.1M | $3.5M | $778K | $78K | — | View 990 |
| 2017 | $3.1M | $3.1M | $202K | $92K | — | View 990 |
| 2016 | $2.6M | $2.6M | $183K | $49K | — | View 990 |
| 2015 | $2.4M | $2.4M | $186K | $43K | — | View 990 |
| 2014 | $1.9M | $2.0M | $121K | $20K | — | View 990 |
| 2013 | $2.2M | $2.3M | $224K | $21K | — | View 990 |
| 2012 | $2.7M | $2.7M | $224K | $4K | — | View 990 |
| 2011 | $2.3M | $2.3M | $251K | $9K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.5M, expenses of $6.0M, and assets of $1.1M (revenue -32.6% year-over-year).
- 2022: Revenue of $6.7M, expenses of $5.3M, and assets of $2.1M (revenue +974.7% year-over-year).
- 2021: Revenue of $627K, expenses of $1.1M, and assets of $917K (revenue -85.2% year-over-year).
- 2020: Revenue of $4.2M, expenses of $3.9M, and assets of $1.4M (revenue +2.7% year-over-year).
- 2019: Revenue of $4.1M, expenses of $4.0M, and assets of $970K (revenue -0.2% year-over-year).
- 2018: Revenue of $4.1M, expenses of $3.5M, and assets of $778K (revenue +32.9% year-over-year).
- 2017: Revenue of $3.1M, expenses of $3.1M, and assets of $202K (revenue +21.2% year-over-year).
- 2016: Revenue of $2.6M, expenses of $2.6M, and assets of $183K (revenue +7.1% year-over-year).
- 2015: Revenue of $2.4M, expenses of $2.4M, and assets of $186K (revenue +26.4% year-over-year).
- 2014: Revenue of $1.9M, expenses of $2.0M, and assets of $121K (revenue -15.4% year-over-year).
- 2013: Revenue of $2.2M, expenses of $2.3M, and assets of $224K (revenue -15.3% year-over-year).
- 2012: Revenue of $2.7M, expenses of $2.7M, and assets of $224K (revenue +14.6% year-over-year).
- 2011: Revenue of $2.3M, expenses of $2.3M, and assets of $251K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Charleston Wine & Food Festival:
Data Sources and Methodology
This transparency report for Charleston Wine & Food Festival is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.