Utah Symphony & Opera

Analysis

Utah Symphony & Opera is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in September 1975, 51 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Utah Symphony & Opera reported income of $25.1m and spending of $26.9m, spending 107% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $27.5m to $25.1m (-8.7%), an average of -2.2% a year. The sharpest change came in the year to August 2020, when income dropped by 31%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Utah Symphony & Opera sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within UT. Charities of a similar size with the same main cause include Petersen Automotive Museum Foundation ($25.1m), Fort Worth Museum of Science and History ($25.3m) and Battleship Texas Foundation Inc ($25.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 62% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $1.6m (5.9% of expenses). Other salaries and wages came to $12.5m. At year end it held assets of $59.4m against liabilities of $4.8m, net assets of $54.6m. It reported 642 employees.