The Maryland Symphony Orchestra Inc

Analysis

The Maryland Symphony Orchestra Inc is a registered charity in United States, based in Hagerstown, MD. It received its IRS tax-exemption ruling in February 1983, 43 years ago. 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 June 2023, The Maryland Symphony Orchestra Inc reported income of $1.7m and spending of $1.7m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.8m to $1.7m (-4.6%), an average of -1.2% a year. The sharpest change came in the year to June 2020, when income dropped by 21%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Maryland Symphony Orchestra Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MD. Charities of a similar size with the same main cause include Central New York Technology Development Organization Inc ($1.7m), Monsignor Walter J Donovan Catholic High School Inc ($1.7m) and Southeast Childhood Collective ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $28k (1.6% of expenses). Other salaries and wages came to $980k. At year end it held assets of $5.1m against liabilities of $411k, net assets of $4.7m. It reported 201 employees.