North Carolina Symphony Society Inc

Analysis

North Carolina Symphony Society Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in February 1945, 81 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, North Carolina Symphony Society Inc reported income of $14.9m and spending of $16.7m, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $26.4m to $14.9m (-44%), an average of -13% a year. The sharpest change came in the year to June 2020, when income dropped by 44%. Over the whole period it spent 75% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, North Carolina Symphony Society Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include One Club for Creativity Inc ($14.9m), Society for Mining Metallurgy and Exploration Inc ($14.9m) and International Society of Automation ($14.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $1.4m (8.5% of expenses). Other salaries and wages came to $7.2m. It paid $70k in professional fundraising fees. At year end it held assets of $32.4m against liabilities of $3.6m, net assets of $28.8m. It reported 278 employees.