Greater Akron Musical Association Inc Sponsor for Akron Symphony Orc

Analysis

Greater Akron Musical Association Inc Sponsor for Akron Symphony Orc is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in October 1964, 62 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, Greater Akron Musical Association Inc Sponsor for Akron Symphony Orc reported income of $1.9m and spending of $1.8m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $1.9m (+8.7%), an average of +2.1% a year. The sharpest change came in the year to June 2022, when income rose by 63%. 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, Greater Akron Musical Association Inc Sponsor for Akron Symphony Orc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within OH. Charities of a similar size with the same main cause include The New Festival Inc ($1.9m), Concord Antiquarian Society ($1.9m) and Printing United Foundation ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $72k (4.1% of expenses). Other salaries and wages came to $965k. At year end it held assets of $479k against liabilities of $183k, net assets of $295k. It reported 249 employees.