Philharmonic-Symphony Society of New York Inc

Analysis

Philharmonic-Symphony Society of New York Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 1928, 98 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, Philharmonic-Symphony Society of New York Inc reported income of $96.9m and spending of $91.9m, spending 95% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $86.4m to $96.9m (+12%), an average of +2.9% a year. The sharpest change came in the year to August 2021, when income rose by 28%. Over the whole period it spent 68% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Philharmonic-Symphony Society of New York Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Sae International ($93.7m), Playhouse Square Foundation ($97.2m) and Boston Symphony Orchestra Inc ($93.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 64% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $4.3m (4.7% of expenses). Other salaries and wages came to $33.9m. It paid $254k in professional fundraising fees. At year end it held assets of $591.9m against liabilities of $137.0m, net assets of $454.9m. It reported 791 employees.