Des Moines Symphony Association

Analysis

Des Moines Symphony Association is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in January 1959, 67 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, Des Moines Symphony Association reported income of $3.2m and spending of $3.9m, spending 125% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.7m to $3.2m (-14%), an average of -3.7% a year. The sharpest change came in the year to June 2022, when income rose by 99%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Des Moines Symphony Association sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within IA. Charities of a similar size with the same main cause include Fort Wayne Museum of Art Inc ($3.2m), New York State School Music Association ($3.2m) and California Humanities ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $461k (12% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $20.2m against liabilities of $1.1m, net assets of $19.1m. It reported 282 employees.