Fort Wayne Philharmonic Orchestra Inc

Analysis

Fort Wayne Philharmonic Orchestra Inc is a registered charity in United States, based in Fort Wayne, IN. It received its IRS tax-exemption ruling in September 1951, 75 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, Fort Wayne Philharmonic Orchestra Inc reported income of $3.9m and spending of $4.7m, spending 118% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $7.0m to $3.9m (-43%), an average of -13% a year. The sharpest change came in the year to August 2023, when income dropped by 55%. Over the whole period it spent 79% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fort Wayne Philharmonic Orchestra Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within IN. Charities of a similar size with the same main cause include City Theatre Company Inc ($3.9m), Common Sense Institute ($3.9m) and Athenaeum Center for Thought & Culture ($3.9m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 49% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $216k (4.6% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $31.8m against liabilities of $632k, net assets of $31.1m. It reported 262 employees.