New Jersey Symphony Orchestra

Analysis

New Jersey Symphony Orchestra is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in March 1944, 82 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, New Jersey Symphony Orchestra reported income of $14.0m and spending of $16.7m, spending 119% of what it took in. Across the 6 years on record, from June 2019 to August 2023, income grew from $12.9m to $14.0m (+8.9%), an average of +1.7% a year. The sharpest change came in the year to August 2021, when income rose by 1807%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New Jersey Symphony Orchestra sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NJ. Charities of a similar size with the same main cause include American Academy of Arts and Sciences ($14.0m), Old Town School of Folk Music Inc ($14.0m) and Columbus Symphony Orchestra Inc ($14.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 77% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $1.1m (6.6% of expenses). Other salaries and wages came to $6.9m. It paid $97k in professional fundraising fees. At year end it held assets of $9.8m against liabilities of $2.9m, net assets of $7.0m. It reported 425 employees.