American Symphony Orchestra Inc

Analysis

American Symphony Orchestra Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1964, 62 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, American Symphony Orchestra Inc reported income of $2.9m and spending of $2.8m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.3m to $2.9m (+24%), an average of +5.5% a year. The sharpest change came in the year to June 2022, when income rose by 160%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, American Symphony Orchestra Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Fine Arts Discovery Series Inc ($2.9m), The National Public Housing Museum ($2.9m) and Jazz St Louis ($2.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 46% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $147k (5.3% of expenses). Other salaries and wages came to $1.4m. It paid $82k in professional fundraising fees. At year end it held assets of $2.3m against liabilities of $3.1m, net assets of -$878k. It reported 316 employees.