Elgin Symphony Orchestra Assoc

Analysis

Elgin Symphony Orchestra Assoc is a registered charity in United States, based in Elgin, IL. It received its IRS tax-exemption ruling in October 1983, 43 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 2024, Elgin Symphony Orchestra Assoc reported income of $1.8m and spending of $2.1m, spending 115% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $2.3m to $1.8m (-23%), an average of -5.1% a year. The sharpest change came in the year to June 2022, when income rose by 47%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Elgin Symphony Orchestra Assoc 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 85th percentile within IL. Charities of a similar size with the same main cause include Chicago Psychoanalytic Institute ($1.8m), American Friends of Sufi Arts Culture and Knowledge ($1.8m) and Art 4 Life ($1.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 68% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $175k (8.5% of expenses). Other salaries and wages came to $965k. At year end it held assets of $192k against liabilities of $541k, net assets of -$348k. It reported 214 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.