Texarkana Symphony Orchestra

Analysis

Texarkana Symphony Orchestra is a registered charity in United States, based in Texarkana, AR. It received its IRS tax-exemption ruling in February 2007, 19 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 May 2023, Texarkana Symphony Orchestra reported income of $1.8m and spending of $1.8m, spending 99% of its income. Across the 4 years on record, from May 2020 to May 2023, income grew from $553k to $1.8m (+220%), an average of +47% a year. The sharpest change came in the year to May 2022, when income rose by 103%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Texarkana Symphony Orchestra sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within AR. Charities of a similar size with the same main cause include Society of Environmental Journalists ($1.8m), The Broadway League Foundation Inc ($1.8m) and Hurleyville Performing Arts Centre Inc ($1.8m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 47% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $122k (7.0% of expenses). Other salaries and wages came to $268k. At year end it held assets of $203k against liabilities of $212k, net assets of -$9,007. It reported 10 employees.