Tuesday Evening Concert Series

Analysis

Tuesday Evening Concert Series is a registered charity in United States, based in Charlottesvle, VA. It received its IRS tax-exemption ruling in April 1987, 39 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, Tuesday Evening Concert Series reported income of $422k and spending of $489k, spending 116% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $372k to $422k (+13%), an average of +2.5% a year. The sharpest change came in the year to June 2022, when income rose by 78%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Tuesday Evening Concert Series sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within VA. Charities of a similar size with the same main cause include Simple Good ($422k), North Haven Foundation ($422k) and Reformed Heritage Christian School Association ($422k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 55% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $101k (21% of expenses). Other salaries and wages came to $43k. At year end it held assets of $1.3m against liabilities of $223k, net assets of $1.1m. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.