Philadelphia Chamber Music Society

Analysis

Philadelphia Chamber Music Society is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in October 1986, 40 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 September 2023, Philadelphia Chamber Music Society reported income of $2.5m and spending of $1.9m, leaving 24% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.0m to $2.5m (+22%), an average of +5.1% a year. The sharpest change came in the year to September 2021, when income rose by 45%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Philadelphia Chamber Music Society sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within PA. Charities of a similar size with the same main cause include Historic Saranac Lake Inc ($2.5m), National Scholastic Press Association ($2.5m) and Philadelphias Magic Gardens ($2.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 69% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $147k (7.8% of expenses). Other salaries and wages came to $254k. At year end it held assets of $11.1m against liabilities of $373k, net assets of $10.7m.