Cape Ann Symphony Orchestra Inc

Analysis

Cape Ann Symphony Orchestra Inc is a registered charity in United States, based in Gloucester, MA. It received its IRS tax-exemption ruling in July 1968, 58 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cape Ann Symphony Orchestra Inc reported income of $249k and spending of $309k, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $281k to $249k (-11%), an average of -2.9% a year. The sharpest change came in the year to June 2022, when income rose by 192%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cape Ann Symphony Orchestra Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 61st percentile within MA. Charities of a similar size with the same main cause include National Association of Women Artists Inc ($249k), Vienna Jammers Percussion Ensemble Inc ($249k) and Bronx Opera Company Inc ($249k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $29k (9.4% of expenses). At year end it held assets of $332k against liabilities of $294k, net assets of $38k. It reported 1 employees.