Lima Symphony Orchestra Association Inc

Analysis

Lima Symphony Orchestra Association Inc is a registered charity in United States, based in Lima, OH. It received its IRS tax-exemption ruling in January 1957, 69 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 2023, Lima Symphony Orchestra Association Inc reported income of $964k and spending of $804k, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $743k to $964k (+30%), an average of +6.7% a year. The sharpest change came in the year to June 2022, when income rose by 28%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lima Symphony Orchestra Association Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within OH. Charities of a similar size with the same main cause include Depew-Lancaster Boys & Girls Club ($964k), Brendan Senior Housing Corporation ($964k) and Malamalama Waldorf School Inc ($964k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 74% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $81k (10% of expenses). Other salaries and wages came to $103k. At year end it held assets of $701k against liabilities of $285k, net assets of $417k. It reported 9 employees.