Winston Salem Symphony Assoc

Analysis

Winston Salem Symphony Assoc is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in April 1952, 74 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Winston Salem Symphony Assoc reported income of $2.8m and spending of $3.0m, spending 110% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $3.0m to $2.8m (-8.7%), an average of -2.3% a year. The sharpest change came in the year to May 2022, when income rose by 58%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Winston Salem Symphony Assoc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NC. Charities of a similar size with the same main cause include Mijente Support Committee ($2.8m), Peoples Music School Inc ($2.8m) and American Jewish Historical Society ($2.8m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 60% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $162k (5.3% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $6.4m against liabilities of $808k, net assets of $5.6m. It reported 111 employees.