Asheville Symphony Society Inc

Analysis

Asheville Symphony Society Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in May 1963, 63 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, Asheville Symphony Society Inc reported income of $2.8m and spending of $2.4m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.3m to $2.8m (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2022, when income rose by 248%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Asheville Symphony Society Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include Association for Community Education Inc ($2.8m), West Virginia Symphony Orchestra Inc ($2.8m) and Atlas Performing Arts Center ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $131k (5.4% of expenses). Other salaries and wages came to $921k. At year end it held assets of $3.1m against liabilities of $862k, net assets of $2.2m. It reported 185 employees.