Richmond Symphony Orchestra Association

Analysis

Richmond Symphony Orchestra Association is a registered charity in United States, based in Richmond, IN. It received its IRS tax-exemption ruling in August 1961, 65 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 June 2023, Richmond Symphony Orchestra Association reported income of $568k and spending of $581k, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $460k to $568k (+23%), an average of +5.4% a year. The sharpest change came in the year to June 2021, when income rose by 33%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Richmond Symphony Orchestra Association sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within IN. Charities of a similar size with the same main cause include Musicalliance Inc ($568k), World of Westchase Inc ($568k) and Bandwith Music Ltd ($568k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 47% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $60k (10% of expenses). Other salaries and wages came to $15k. At year end it held assets of $2.0m against liabilities of $18k, net assets of $2.0m. It reported 2 employees.