Penfield Symphony Orchestra Inc

Analysis

Penfield Symphony Orchestra Inc is a registered charity in United States, based in Penfield, NY. It received its IRS tax-exemption ruling in September 1984, 42 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 2024, Penfield Symphony Orchestra Inc reported income of $687k and spending of $85k, leaving 88% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $106k to $687k (+551%), an average of +45% a year. The sharpest change came in the year to June 2024, when income rose by 588%. Over the whole period it spent 33% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Penfield Symphony Orchestra Inc 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 71st percentile within NY. Charities of a similar size with the same main cause include State Chamber Research Foundation Oklahoma 21st Century ($687k), Minnesota USA Wrestling Inc ($687k) and House of Mercy Inc ($687k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 86% and program service revenue 4.2% of the total. Compensation of current officers, directors and key employees was $27k (31% of expenses). Other salaries and wages came to $1,000. At year end it held assets of $1.0m against liabilities of $3,278, net assets of $1.0m. It reported 4 employees.