Symphony Space Inc

Analysis

Symphony Space Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1978, 48 years ago. 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 June 2023, Symphony Space Inc reported income of $5.5m and spending of $6.7m, spending 121% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $7.6m to $5.5m (-27%), an average of -7.6% a year. The sharpest change came in the year to June 2020, when income dropped by 34%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Symphony Space Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($5.5m), Girl Scouts of Citrus Council Inc ($5.5m) and Greater Metro Parks Foundation ($5.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 47% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $373k (5.6% of expenses). Other salaries and wages came to $2.9m. It paid $33k in professional fundraising fees. At year end it held assets of $21.3m against liabilities of $1.3m, net assets of $20.0m. It reported 140 employees.