Traverse Symphony Orchestra

Analysis

Traverse Symphony Orchestra is a registered charity in United States, based in Traverse City, MI. It received its IRS tax-exemption ruling in March 1990, 36 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 August 2023, Traverse Symphony Orchestra reported income of $2.1m and spending of $1.1m, leaving 45% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $785k to $2.1m (+162%), an average of +27% a year. The sharpest change came in the year to August 2023, when income rose by 111%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Traverse Symphony Orchestra sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within MI. Charities of a similar size with the same main cause include Artists Repertory Theatre ($2.1m), Museum of South Texas History ($2.1m) and Active Implementation Research Network Inc ($2.1m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 82% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $120k (11% of expenses). Other salaries and wages came to $184k. At year end it held assets of $1.6m against liabilities of $139k, net assets of $1.5m. It reported 7 employees.