Chicago Youth Symphony Orchestras

Analysis

Chicago Youth Symphony Orchestras is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in December 1948, 78 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 2023, Chicago Youth Symphony Orchestras reported income of $1.9m and spending of $2.1m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.2m to $1.9m (-14%), an average of -3.7% a year. The sharpest change came in the year to June 2022, when income rose by 115%. 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, Chicago Youth Symphony Orchestras 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 86th percentile, and in the 85th percentile within IL. Charities of a similar size with the same main cause include Arts Council of Fort Worth and Tarrant County Inc ($1.9m), M Gorman Phychological Associates Inc ($1.9m) and Whitney Institute ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 32% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $96k (4.6% of expenses). Other salaries and wages came to $854k. At year end it held assets of $2.1m against liabilities of $752k, net assets of $1.3m. It reported 49 employees.