Detroit Symphony Orchestra Hall Inc

Analysis

Detroit Symphony Orchestra Hall Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in July 1952, 74 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 August 2023, Detroit Symphony Orchestra Hall Inc reported income of $39.2m and spending of $39.9m, spending 102% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $41.0m to $39.2m (-4.2%), an average of -1.1% a year. The sharpest change came in the year to August 2022, when income rose by 45%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Detroit Symphony Orchestra Hall Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MI. Charities of a similar size with the same main cause include Fort Worth Art Association Endowment Foundation ($39.2m), Borealis Philanthropy ($39.4m) and Window to the World Communications Inc ($39.1m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 70% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $2.6m (6.4% of expenses). Other salaries and wages came to $17.2m. It paid $189k in professional fundraising fees. At year end it held assets of $116.6m against liabilities of $10.2m, net assets of $106.4m. It reported 715 employees.