New Jersey Festival Orchestra

Analysis

New Jersey Festival Orchestra is a registered charity in United States, based in Westfield, NJ. It received its IRS tax-exemption ruling in June 1985, 41 years ago. 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 2023, New Jersey Festival Orchestra reported income of $716k and spending of $759k, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $783k to $716k (-8.6%), an average of -2.2% a year. The sharpest change came in the year to June 2022, when income rose by 50%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Jersey Festival Orchestra sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 79th percentile within NJ. Charities of a similar size with the same main cause include St Pauls Home Inc ($715k), Schools of Banking ($716k) and Curious Communications Inc ($715k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 40% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $122k (16% of expenses). Other salaries and wages came to $410k. At year end it held assets of $456k against liabilities of $7,943, net assets of $448k. It reported 137 employees.