Virginia Symphony Orchestra

Analysis

Virginia Symphony Orchestra is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in January 1957, 69 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 June 2023, Virginia Symphony Orchestra reported income of $6.8m and spending of $9.3m, spending 136% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $9.3m to $6.8m (-27%), an average of -7.5% a year. The sharpest change came in the year to June 2022, when income rose by 33%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Virginia Symphony Orchestra sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within VA. Charities of a similar size with the same main cause include Conga Kids ($6.8m), Opera America Inc ($6.9m) and Baltimore Teacher Network ($6.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $208k (2.2% of expenses). Other salaries and wages came to $4.0m. At year end it held assets of $3.1m against liabilities of $1.2m, net assets of $1.9m. It reported 300 employees.