Minot Symphony Association Inc

Analysis

Minot Symphony Association Inc is a registered charity in United States, based in Minot, ND. It received its IRS tax-exemption ruling in October 1966, 60 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, Minot Symphony Association Inc reported income of $163k and spending of $189k, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $192k to $163k (-15%), an average of -4.0% a year. The sharpest change came in the year to June 2023, when income dropped by 49%. Over the whole period it spent 71% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Minot Symphony Association Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 41st percentile within ND. Charities of a similar size with the same main cause include Power of the Arts Inc ($163k), Northwest Mississippi Theatre Guild Inc ($163k) and Artspartners of Central Illinois Inc ($163k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 51% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $49k (26% of expenses). At year end it held assets of $977k against liabilities of $19k, net assets of $958k.