New Mexico Philharmonic Inc

Analysis

New Mexico Philharmonic Inc is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in July 2010, 16 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 August 2023, New Mexico Philharmonic Inc reported income of $2.4m and spending of $2.6m, spending 109% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.4m to $2.4m (+2.8%), an average of +0.7% a year. The sharpest change came in the year to August 2022, when income rose by 45%. 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, New Mexico Philharmonic Inc 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 87th percentile, and in the 88th percentile within NM. Charities of a similar size with the same main cause include Academy of American Poets Incorporated ($2.4m), Theatre Memphis ($2.4m) and Deetjens Inc ($2.4m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 49% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $120k (4.6% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $815k against liabilities of $613k, net assets of $202k. It reported 248 employees.