The Wilmington Symphony Orchestra Inc

Analysis

The Wilmington Symphony Orchestra Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in April 1986, 40 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 June 2023, The Wilmington Symphony Orchestra Inc reported income of $624k and spending of $572k, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $431k to $624k (+45%), an average of +9.7% a year. The sharpest change came in the year to June 2022, when income rose by 93%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Wilmington Symphony Orchestra Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within NC. Charities of a similar size with the same main cause include Canopy Studio Inc ($624k), Little Theatre of Manchester Inc ($624k) and Ballet Vero Beach Inc ($624k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $58k (10% of expenses). Other salaries and wages came to $143k. At year end it held assets of $703k against liabilities of $206k, net assets of $496k.