Lakeland Symphony Society Inc

Analysis

Lakeland Symphony Society Inc is a registered charity in United States, based in Parsippany, NJ. It received its IRS tax-exemption ruling in May 1999, 27 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 2024, Lakeland Symphony Society Inc reported income of $125k and spending of $121k, spending 96% of its income. Across the 2 years on record, from June 2023 to June 2024, income grew from $115k to $125k (+8.8%), an average of +8.8% a year. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lakeland Symphony Society Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 50th percentile within NJ. Charities of a similar size with the same main cause include Vistas Lifelong Learning Inc ($125k), Seymour Area Arts Council ($125k) and Elk City Renewal Association Inc ($125k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 16% and program service revenue 78% of the total. At year end it held assets of $79k against liabilities of $0, net assets of $79k.