Richmond Symphony Foundation

Analysis

Richmond Symphony Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in April 1989, 37 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, Richmond Symphony Foundation reported income of $779k and spending of $881k, spending 113% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.3m to $779k (-38%), an average of -11% a year. The sharpest change came in the year to June 2022, when income rose by 161%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Richmond Symphony Foundation sits at the 75th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within VA. Charities of a similar size with the same main cause include Troy Hockey Association ($779k), Pop Warner Little Scholars Inc ($780k) and Smith Hill Community Development Corporation ($779k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% of the total. Other salaries and wages came to $75k. At year end it held assets of $22.7m against liabilities of $11k, net assets of $22.7m.