Rhode Island Philharmonic Orchestra & Music School

Analysis

Rhode Island Philharmonic Orchestra & Music School is a registered charity in United States, based in E Providence, RI. It received its IRS tax-exemption ruling in September 1952, 74 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, Rhode Island Philharmonic Orchestra & Music School reported income of $7.2m and spending of $7.8m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.5m to $7.2m (+31%), an average of +7.1% a year. The sharpest change came in the year to June 2022, when income rose by 67%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Rhode Island Philharmonic Orchestra & Music School sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within RI. Charities of a similar size with the same main cause include This Is the Place Foundation ($7.2m), Cincinnati Opera Association ($7.2m) and The Walden Woods Project ($7.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $397k (5.1% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $14.9m against liabilities of $4.6m, net assets of $10.3m. It reported 357 employees.