Springfield Symphony Orchestra

Analysis

Springfield Symphony Orchestra is a registered charity in United States, based in Springfield, MA. It received its IRS tax-exemption ruling in July 1945, 81 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 May 2023, Springfield Symphony Orchestra reported income of $1.4m and spending of $1.9m, spending 135% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $1.4m to $1.4m (-3.1%), an average of -0.8% a year. The sharpest change came in the year to May 2023, when income rose by 17%. Over the whole period it spent 117% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Springfield Symphony Orchestra sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MA. Charities of a similar size with the same main cause include Oconee Performing Arts Society Inc ($1.4m), Upstate Films Limited ($1.4m) and Neighborhood Music School Association ($1.4m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 39% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $104k (5.6% of expenses). Other salaries and wages came to $776k. At year end it held assets of $6.8m against liabilities of $147k, net assets of $6.7m. It reported 170 employees.