Chamber Music Society of Palm Beach Inc

Analysis

Chamber Music Society of Palm Beach Inc is a registered charity in United States, based in Palm Beach, FL. It received its IRS tax-exemption ruling in June 2015, 11 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, Chamber Music Society of Palm Beach Inc reported income of $1.0m and spending of $1.0m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $761k to $1.0m (+32%), an average of +9.8% a year. The sharpest change came in the year to June 2022, when income rose by 25%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Chamber Music Society of Palm Beach Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 81st percentile within FL. Charities of a similar size with the same main cause include Port Huron Museum of Arts & History ($1.0m), Amplifier Foundation ($1.0m) and Green Box Arts Project ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 74% and program service revenue 9.2% of the total. Compensation of current officers, directors and key employees was $172k (17% of expenses). At year end it held assets of $749k against liabilities of $0, net assets of $749k. It reported 2 employees.