Binghamton Philharmonic Inc

Analysis

Binghamton Philharmonic Inc is a registered charity in United States, based in Binghamton, NY. It received its IRS tax-exemption ruling in November 1976, 50 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 June 2023, Binghamton Philharmonic Inc reported income of $1.6m and spending of $772k, leaving 51% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $798k to $1.6m (+97%), an average of +18% a year. The sharpest change came in the year to June 2022, when income rose by 92%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Binghamton Philharmonic Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Institute of Southern Jewish Life Inc ($1.6m), Historical Society of Berks County ($1.6m) and Central City Opera House Association Endowment Fund ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $61k (7.9% of expenses). Other salaries and wages came to $391k. At year end it held assets of $1.5m against liabilities of $194k, net assets of $1.3m. It reported 171 employees.