Long Bay Symphonic Society Ltd

Analysis

Long Bay Symphonic Society Ltd is a registered charity in United States, based in Myrtle Beach, SC. It received its IRS tax-exemption ruling in August 1988, 38 years ago. 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 May 2023, Long Bay Symphonic Society Ltd reported income of $774k and spending of $760k, spending 98% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $533k to $774k (+45%), an average of +9.8% a year. The sharpest change came in the year to May 2022, when income rose by 72%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Long Bay Symphonic Society Ltd sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 80th percentile within SC. Charities of a similar size with the same main cause include Celebration Lutheran School Inc ($774k), Racing Industry Charitable Foundation Inc ($774k) and LMWS Inc ($774k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 51% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $57k (7.5% of expenses). Other salaries and wages came to $180k. At year end it held assets of $193k against liabilities of $30k, net assets of $163k. It reported 6 employees.