Madison Symphony Orchestra Inc

Analysis

Madison Symphony Orchestra Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in August 1953, 73 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, Madison Symphony Orchestra Inc reported income of $5.6m and spending of $5.5m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.0m to $5.6m (+12%), an average of +2.8% a year. The sharpest change came in the year to June 2022, when income rose by 59%. 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, Madison Symphony Orchestra Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within WI. Charities of a similar size with the same main cause include Sangre de Cristo Arts & Conference Center Inc ($5.6m), Arden Theatre Company ($5.6m) and Tampa Museum of Art Inc ($5.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $575k (11% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $8.1m against liabilities of $1.3m, net assets of $6.8m. It reported 205 employees.