Illinois Philharmonic Orchestra

Analysis

Illinois Philharmonic Orchestra is a registered charity in United States, based in Park Forest, IL. It received its IRS tax-exemption ruling in February 1976, 50 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 May 2024, Illinois Philharmonic Orchestra reported income of $931k and spending of $1.1m, spending 121% of what it took in. Across the 5 years on record, from May 2020 to May 2024, income grew from $916k to $931k (+1.7%), an average of +0.4% a year. The sharpest change came in the year to May 2022, when income rose by 25%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Illinois Philharmonic Orchestra sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within IL. Charities of a similar size with the same main cause include Centre for the Arts at Mizner Park Inc ($931k), Iqra International Educational Foundation Inc ($932k) and American Needlepoint Guild Inc ($931k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 64% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $89k (7.9% of expenses). Other salaries and wages came to $581k. At year end it held assets of $4.6m against liabilities of $99k, net assets of $4.5m. It reported 182 employees.