Overture Center Foundation Inc

Analysis

Overture Center Foundation Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in June 2002, 24 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Overture Center Foundation Inc reported income of $28.9m and spending of $27.4m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $18.4m to $28.9m (+57%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 220%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Overture Center Foundation Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within WI. Charities of a similar size with the same main cause include Jacksonville Symphony Association ($28.8m), 5th Avenue Theatre Association ($29.0m) and Atlas Economic Research Foundation ($28.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $887k (3.2% of expenses). Other salaries and wages came to $6.5m. At year end it held assets of $33.6m against liabilities of $10.2m, net assets of $23.3m. It reported 453 employees.