Tamworth Music Festival Inc
Tamworth Music Festival Inc. shows consistent operations with recent deficits, growing assets, and no reported officer compensation.
EIN: 20464351 · Staunton, VA · NTEE: A68 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $463K |
| Total Expenses | $419K |
| Program Spending | 80% |
| Net Assets | $216K |
| Transparency Score | 85/100 |
Is Tamworth Music Festival Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Tamworth Music Festival Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Tamworth Music Festival Inc
Tamworth Music Festival Inc (EIN: 20464351) is a nonprofit organization based in Staunton, VA, classified under NTEE code A68. The organization reported total revenue of $463K and total assets of $232K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Tamworth Music Festival Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Tamworth Music Festival Inc is a small nonprofit that has been operating for 32 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $395K |
| Total Expenses | $419K |
| Surplus / Deficit | $-23,390 |
| Total Assets | $217K |
| Total Liabilities | $490 |
| Net Assets | $216K |
| Operating Margin | -5.9% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 6.2 months |
Financial Health Grade: B
In 2023, Tamworth Music Festival Inc reported a deficit of $23K with expenses exceeding revenue, holds 6.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Tamworth Music Festival Inc's revenue has grown at a compound annual growth rate (CAGR) of 11.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.1% | -8.5% | -11.2% |
| 2022 | +18.5% | +90.8% | -27.2% |
| 2021 | +42.7% | +212.1% | +29.1% |
| 2020 | -40.3% | -75.8% | +122.8% |
| 2019 | +29.3% | +7.0% | +76.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1994 |
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 Tamworth Music Festival Inc with a Mission Score of 85 out of 100 (Excellent). 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: 80%
- fundraising: 5%
According to IRS 990 filings, Tamworth Music Festival Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $23K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which is a positive sign for donor confidence.
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 Tamworth Music Festival Inc's IRS 990 filings:
- Operational deficits in the last two reported periods (202312 and 202212) where expenses exceeded revenue.
Strengths
The following positive indicators were identified for Tamworth Music Festival Inc:
- Consistent reporting of 0% officer compensation, indicating efficient use of funds or volunteer leadership.
- Significant growth in assets over the past decade, from $22,859 in 2014 to $216,640 in 2023.
- Very low liabilities relative to assets, indicating a strong balance sheet.
- Consistent operational activity and revenue generation over a long period (13 filings).
Frequently Asked Questions about Tamworth Music Festival Inc
Is Tamworth Music Festival Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Tamworth Music Festival Inc (EIN: 20464351) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Tamworth Music Festival Inc spend its money?
Tamworth Music Festival Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Tamworth Music Festival Inc tax-deductible?
Tamworth Music Festival Inc is registered as a tax-exempt nonprofit (EIN: 20464351). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Tamworth Music Festival Inc's spending goes to programs?
Tamworth Music Festival Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Tamworth Music Festival Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Tamworth Music Festival Inc is above average for NTEE category A68 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Tamworth Music Festival Inc located?
Tamworth Music Festival Inc is headquartered in Staunton, Virginia and files with the IRS under EIN 20464351. It is classified under NTEE code A68.
How many years of IRS 990 filings does Tamworth Music Festival Inc have?
Tamworth Music Festival Inc 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 $463K in total revenue.
Is Tamworth Music Festival Inc. financially stable?
While the organization has experienced operational deficits in the last two reported periods (202312 and 202212), its assets have grown substantially over the past decade, from $22,859 in 2014 to $216,640 in 2023, and liabilities are very low. This suggests a reasonable level of financial stability, supported by accumulated reserves.
How does Tamworth Music Festival Inc. manage executive compensation?
The IRS 990 filings consistently report 0% for officer compensation across all 13 periods, indicating that the organization does not pay its officers or that compensation is reported in a different category, which is a strong indicator of efficient use of funds for its mission.
Has the organization's revenue been growing?
Yes, the organization's revenue has shown a general upward trend over the past decade, increasing from $179,442 in 2014 to $395,415 in 2023, with some fluctuations year-to-year.
What is the trend in the organization's assets?
The organization's assets have shown significant growth, increasing from $22,859 in 2014 to $216,640 in 2023, indicating a healthy accumulation of resources over time.
Filing History
IRS 990 filing history for Tamworth Music Festival Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Tamworth Music Festival Inc's revenue has grown by 281%, moving from $104K to $395K. Total assets increased by 1195.7% over the same period, from $17K to $217K. Total functional expenses rose by 342.3%, from $95K to $419K. In its most recent filing year (2023), Tamworth Music Festival Inc reported a deficit of $23K, with expenses exceeding revenue. The organization holds $490 in liabilities against $217K in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $216K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $395K | $419K | $217K | $490 | — | — |
| 2022 | $373K | $458K | $244K | $290 | — | View 990 |
| 2021 | $315K | $240K | $335K | $1K | — | View 990 |
| 2020 | $220K | $77K | $260K | $321 | — | View 990 |
| 2019 | $369K | $317K | $116K | $772 | — | — |
| 2018 | $285K | $296K | $66K | $2K | — | View 990 |
| 2017 | $285K | $259K | $73K | $519 | — | View 990 |
| 2016 | $223K | $227K | $47K | $0 | — | View 990 |
| 2015 | $241K | $208K | $56K | $0 | — | View 990 |
| 2014 | $179K | $169K | $23K | $0 | — | View 990 |
| 2013 | $136K | $149K | $12K | $0 | — | View 990 |
| 2012 | $115K | $106K | $26K | $0 | — | View 990 |
| 2011 | $104K | $95K | $17K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $395K, expenses of $419K, and assets of $217K (revenue +6.1% year-over-year).
- 2022: Revenue of $373K, expenses of $458K, and assets of $244K (revenue +18.5% year-over-year).
- 2021: Revenue of $315K, expenses of $240K, and assets of $335K (revenue +42.7% year-over-year).
- 2020: Revenue of $220K, expenses of $77K, and assets of $260K (revenue -40.3% year-over-year).
- 2019: Revenue of $369K, expenses of $317K, and assets of $116K (revenue +29.3% year-over-year).
- 2018: Revenue of $285K, expenses of $296K, and assets of $66K (revenue +-0.0% year-over-year).
- 2017: Revenue of $285K, expenses of $259K, and assets of $73K (revenue +27.7% year-over-year).
- 2016: Revenue of $223K, expenses of $227K, and assets of $47K (revenue -7.3% year-over-year).
- 2015: Revenue of $241K, expenses of $208K, and assets of $56K (revenue +34.3% year-over-year).
- 2014: Revenue of $179K, expenses of $169K, and assets of $23K (revenue +32.3% year-over-year).
- 2013: Revenue of $136K, expenses of $149K, and assets of $12K (revenue +18.0% year-over-year).
- 2012: Revenue of $115K, expenses of $106K, and assets of $26K (revenue +10.7% year-over-year).
- 2011: Revenue of $104K, expenses of $95K, and assets of $17K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Tamworth Music Festival Inc:
Data Sources and Methodology
This transparency report for Tamworth Music Festival Inc 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.