Princeton Symphony Orchestra Inc

Analysis

Princeton Symphony Orchestra Inc is a registered charity in United States, based in Princeton, NJ. It received its IRS tax-exemption ruling in December 1980, 46 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 2024, Princeton Symphony Orchestra Inc reported income of $2.9m and spending of $3.8m, spending 128% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $3.5m to $2.9m (-16%), an average of -3.3% a year. The sharpest change came in the year to June 2020, when income dropped by 24%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Princeton Symphony Orchestra Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NJ. Charities of a similar size with the same main cause include Lawrence Arts Center Inc ($2.9m), Penumbra Theatre Company Inc ($2.9m) and John P McGovern Museum of Health & Medical Science ($2.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 64% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $245k (6.5% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $10.5m against liabilities of $1.2m, net assets of $9.4m. It reported 312 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.