Concerto Soloists

Analysis

Concerto Soloists is a registered charity in United States, based in Philadlephia, PA. It received its IRS tax-exemption ruling in January 1977, 49 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, Concerto Soloists reported income of $1.2m and spending of $1.2m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $903k to $1.2m (+33%), an average of +7.4% a year. The sharpest change came in the year to June 2022, when income rose by 135%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Concerto Soloists sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 79th percentile within PA. Charities of a similar size with the same main cause include Great Platte River Road Memorial Foundation ($1.2m), Pilgrim Society ($1.2m) and Performing Arts Center Inc ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 70% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $93k (7.9% of expenses). Other salaries and wages came to $439k. At year end it held assets of $608k against liabilities of $653k, net assets of -$45k. It reported 121 employees.