Hartford Symphony Orchestra Inc

Analysis

Hartford Symphony Orchestra Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in December 1949, 77 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 August 2023, Hartford Symphony Orchestra Inc reported income of $4.5m and spending of $5.2m, spending 115% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $7.0m to $4.5m (-35%), an average of -10% a year. The sharpest change came in the year to August 2020, when income dropped by 36%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hartford Symphony Orchestra Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within CT. Charities of a similar size with the same main cause include Our Generation Speaks ($4.5m), Coalition to Salute Americas Heroes Foundation ($4.5m) and University Resident Theatre Association Inc ($4.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 70% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $336k (6.5% of expenses). Other salaries and wages came to $2.2m. It paid $38k in professional fundraising fees. At year end it held assets of $12.0m against liabilities of $1.3m, net assets of $10.8m. It reported 277 employees.