Spartanburg Philharmonic

Analysis

Spartanburg Philharmonic is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in August 1957, 69 years ago. 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 2024, Spartanburg Philharmonic reported income of $970k and spending of $943k, spending 97% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $788k to $970k (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2022, when income rose by 56%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Spartanburg Philharmonic sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 82nd percentile within SC. Charities of a similar size with the same main cause include Camp Tekawitha Retreat & Conference Center ($970k), Comanche County Memorial Hospital Foundation Inc ($970k) and Lincoln Community Center Assn Inc ($970k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 64% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $84k (8.9% of expenses). Other salaries and wages came to $396k. At year end it held assets of $743k against liabilities of $8,854, net assets of $734k. It reported 136 employees.