Midcoast Symphony Orchestra

Analysis

Midcoast Symphony Orchestra is a registered charity in United States, based in Brunswick, ME. It received its IRS tax-exemption ruling in April 1992, 34 years ago. 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 June 2023, Midcoast Symphony Orchestra reported income of $266k and spending of $203k, leaving 24% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $137k to $266k (+94%), an average of +25% a year. The sharpest change came in the year to June 2023, when income rose by 352%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Midcoast Symphony Orchestra sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 53rd percentile within ME. Charities of a similar size with the same main cause include Foundation for Public Affairs ($266k), The Foundation of the St Andrews Society of Philadelphia ($266k) and Appa-Association of Higher Education Facilities Officers ($266k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $28k (14% of expenses). Other salaries and wages came to $75k. At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m. It reported 4 employees.