Pittsburgh Symphony Inc

Analysis

Pittsburgh Symphony Inc is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in September 1938, 88 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 August 2023, Pittsburgh Symphony Inc reported income of $30.8m and spending of $39.2m, spending 127% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $36.5m to $30.8m (-16%), an average of -4.2% a year. The sharpest change came in the year to August 2021, when income dropped by 32%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Pittsburgh Symphony Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within PA. Charities of a similar size with the same main cause include Intrepid Museum Foundation Inc ($30.8m), French American School of New York Inc ($30.9m) and Omaha Performing Arts Society ($30.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 53% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $1.2m (3.0% of expenses). Other salaries and wages came to $18.2m. It paid $164k in professional fundraising fees. At year end it held assets of $165.4m against liabilities of $19.2m, net assets of $146.2m. It reported 595 employees.