Charleston Symphony Orchestra

Analysis

Charleston Symphony Orchestra is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in March 1946, 80 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, Charleston Symphony Orchestra reported income of $5.4m and spending of $4.5m, spending 84% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $3.5m to $5.4m (+51%), an average of +15% a year. The sharpest change came in the year to June 2022, when income rose by 137%. Over the whole period it spent 68% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Charleston Symphony Orchestra sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within SC. Charities of a similar size with the same main cause include Openai Inc ($5.4m), Oakleaf Endowment TR Fbo Minnesota Orchestra 063097 ($5.4m) and Institute of Noetic Sciences ($5.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 68% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $135k (3.0% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $9.7m against liabilities of $1.4m, net assets of $8.2m. It reported 334 employees.