Mankato Symphony Orchestra Association Inc

Analysis

Mankato Symphony Orchestra Association Inc is a registered charity in United States, based in Mankato, MN. It received its IRS tax-exemption ruling in May 1976, 50 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Mankato Symphony Orchestra Association Inc reported income of $368k and spending of $273k, leaving 26% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $656k to $368k (-44%), an average of -14% a year. The sharpest change came in the year to June 2022, when income rose by 191%. Over the whole period it spent 68% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mankato Symphony Orchestra Association Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within MN. Charities of a similar size with the same main cause include Mint Museum Auxiliary ($368k), Florida Lighthouse Association Inc ($368k) and Somervell History Foundation ($368k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 9.8% of the total. Compensation of current officers, directors and key employees was $63k (23% of expenses). Other salaries and wages came to $27k. At year end it held assets of $722k against liabilities of $6,921, net assets of $715k. It reported 3 employees.