Project Step Inc Symphony Hall

Analysis

Project Step Inc Symphony Hall is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in October 1984, 42 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 2023, Project Step Inc Symphony Hall reported income of $6.5m and spending of $773k, leaving 88% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $808k to $6.5m (+709%), an average of +69% a year. The sharpest change came in the year to June 2023, when income rose by 635%. Over the whole period it spent 34% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Project Step Inc Symphony Hall sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include Zeiterion Theatre Inc ($6.5m), Northwest Maritime Center ($6.5m) and Nashville Ballet ($6.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $108k (14% of expenses). Other salaries and wages came to $230k. At year end it held assets of $8.9m against liabilities of $46k, net assets of $8.9m. It reported 5 employees.