The Virginia Symphony Foundation

Analysis

The Virginia Symphony Foundation is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in November 1988, 38 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Virginia Symphony Foundation reported income of $1.4m and spending of $366k, leaving 73% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $1.4m (+15%), an average of +3.5% a year. The sharpest change came in the year to June 2021, when income rose by 4967%. Over the whole period it spent 30% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Virginia Symphony Foundation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within VA. Charities of a similar size with the same main cause include Avoyelles Parish Council on the Aging ($1.4m), Gbta Foundation ($1.4m) and Catholic Charities Bloomington Inc ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 102% of the total. At year end it held assets of $9.9m against liabilities of $5,054, net assets of $9.9m.