Homegrown Music Festival
EIN: 412012133 · Duluth, MN · NTEE: S21
| Metric | Value |
|---|---|
| Total Revenue | $120K |
| Total Expenses | $130K |
| Net Assets | $97K |
Is Homegrown Music Festival Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Homegrown Music Festival
Homegrown Music Festival (EIN: 412012133) is a nonprofit organization based in Duluth, MN, classified under NTEE code S21. The organization reported total revenue of $120K and total assets of $99K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Homegrown Music Festival's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Homegrown Music Festival is a small nonprofit that has been operating for 25 years, with 7 years of IRS 990 filings on record (2012–2018). Revenue has grown at a compound annual rate of 5.1%.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
| Total Revenue | $120K |
| Total Expenses | $130K |
| Surplus / Deficit | $-9,809 |
| Total Assets | $99K |
| Total Liabilities | $2K |
| Net Assets | $97K |
| Operating Margin | -8.2% |
| Debt-to-Asset Ratio | 1.6% |
| Months of Reserves | 9.2 months |
Financial Health Grade: B
In 2018, Homegrown Music Festival reported a deficit of $10K with expenses exceeding revenue, holds 9.2 months of operating reserves (strong position), has a debt-to-asset ratio of 1.6% (very low leverage).
Financial Trends
Over 7 years of filings (2012–2018), Homegrown Music Festival's revenue has grown at a compound annual growth rate (CAGR) of 5.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2018 | +7.0% | +0.6% | -9.5% |
| 2017 | -11.9% | +12.6% | -13.0% |
| 2016 | +10.9% | +21.9% | +8.0% |
| 2015 | +25.9% | +0.0% | +22.9% |
| 2014 | -2.1% | +26.5% | -2.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2001 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Homegrown Music Festival has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Homegrown Music Festival with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $10K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.6%.
Frequently Asked Questions about Homegrown Music Festival
Is Homegrown Music Festival a legitimate charity?
Homegrown Music Festival (EIN: 412012133) is a registered tax-exempt nonprofit based in Minnesota. It has 7 years of IRS 990 filings on record. Total revenue: $120K. No red flags identified. Financial health grade: B.
How does Homegrown Music Festival spend its money?
Homegrown Music Festival reported $120K in total revenue in IRS 990 filings. 7 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Homegrown Music Festival tax-deductible?
Homegrown Music Festival is registered as a tax-exempt nonprofit (EIN: 412012133). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Homegrown Music Festival located?
Homegrown Music Festival is headquartered in Duluth, Minnesota and files with the IRS under EIN 412012133. It is classified under NTEE code S21.
How many years of IRS 990 filings does Homegrown Music Festival have?
Homegrown Music Festival has 7 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 $120K in total revenue.
Filing History
IRS 990 filing history for Homegrown Music Festival showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2012–2018), Homegrown Music Festival's revenue has grown by 35.1%, moving from $89K to $120K. Total assets increased by 25.8% over the same period, from $79K to $99K. Total functional expenses rose by 115.9%, from $60K to $130K. In its most recent filing year (2018), Homegrown Music Festival reported a deficit of $10K, with expenses exceeding revenue. The organization holds $2K in liabilities against $99K in assets (debt-to-asset ratio: 1.6%), resulting in net assets of $97K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2018 | $120K | $130K | $99K | $2K | — | View 990 |
| 2017 | $112K | $129K | $109K | $2K | — | View 990 |
| 2016 | $127K | $114K | $126K | $2K | — | View 990 |
| 2015 | $115K | $94K | $116K | $940 | — | View 990 |
| 2014 | $91K | $94K | $95K | $0 | — | View 990 |
| 2013 | $93K | $74K | $97K | $0 | — | View 990 |
| 2012 | $89K | $60K | $79K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2018: Revenue of $120K, expenses of $130K, and assets of $99K (revenue +7.0% year-over-year).
- 2017: Revenue of $112K, expenses of $129K, and assets of $109K (revenue -11.9% year-over-year).
- 2016: Revenue of $127K, expenses of $114K, and assets of $126K (revenue +10.9% year-over-year).
- 2015: Revenue of $115K, expenses of $94K, and assets of $116K (revenue +25.9% year-over-year).
- 2014: Revenue of $91K, expenses of $94K, and assets of $95K (revenue -2.1% year-over-year).
- 2013: Revenue of $93K, expenses of $74K, and assets of $97K (revenue +4.9% year-over-year).
- 2012: Revenue of $89K, expenses of $60K, and assets of $79K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Homegrown Music Festival:
Data Sources and Methodology
This transparency report for Homegrown Music 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.