Charlotte Symphony Orchestra Society Inc

Analysis

Charlotte Symphony Orchestra Society Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in December 1959, 67 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, Charlotte Symphony Orchestra Society Inc reported income of $23.4m and spending of $12.3m, leaving 47% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.7m to $23.4m (+100%), an average of +19% a year. The sharpest change came in the year to June 2023, when income rose by 63%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Charlotte Symphony Orchestra Society Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Institute of Contemporary Art ($23.2m), Coriell Institute for Medical Research Inc ($23.4m) and Woodwell Climate Research Center ($23.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $352k (2.9% of expenses). Other salaries and wages came to $5.7m. It paid $152k in professional fundraising fees. At year end it held assets of $29.6m against liabilities of $1.9m, net assets of $27.7m. It reported 310 employees.