Galesburg Symphony Society

Analysis

Galesburg Symphony Society is a registered charity in United States, based in Galesburg, IL. It received its IRS tax-exemption ruling in June 1962, 64 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, Galesburg Symphony Society reported income of $228k and spending of $182k, leaving 20% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $208k to $228k (+9.7%), an average of +2.3% a year. The sharpest change came in the year to June 2021, when income rose by 65%. Over the whole period it spent 61% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Galesburg Symphony Society sits at the 63rd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 57th percentile within IL. Charities of a similar size with the same main cause include Northern California Music & Art Culture Center Inc ($228k), Adena Mansion and Gardens Society ($228k) and Community Folk Art Center Inc ($228k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 5.3% of the total. Other salaries and wages came to $46k. At year end it held assets of $1.8m against liabilities of $969k, net assets of $818k. It reported 3 employees.