Symphonicity the Symphony Orchestra of Virginia Beach

Analysis

Symphonicity the Symphony Orchestra of Virginia Beach is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in December 1982, 44 years ago. 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, Symphonicity the Symphony Orchestra of Virginia Beach reported income of $383k and spending of $405k, spending 106% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $378k to $383k (+1.3%), an average of +0.4% a year. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Symphonicity the Symphony Orchestra of Virginia Beach sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within VA. Charities of a similar size with the same main cause include Clare House Inc ($383k), Connecticut Burns Care Foundation Incorporated ($383k) and Friends of Detroit Rowing Inc ($383k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $95k (23% of expenses). Other salaries and wages came to $16k. At year end it held assets of $381k against liabilities of $36k, net assets of $345k. It reported 7 employees.