Brevard Symphony Orchestra Inc

Analysis

Brevard Symphony Orchestra Inc is a registered charity in United States, based in Melbourne, FL. It received its IRS tax-exemption ruling in December 1966, 60 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, Brevard Symphony Orchestra Inc reported income of $869k and spending of $1.1m, spending 131% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $869k (-27%), an average of -7.6% a year. The sharpest change came in the year to June 2022, when income rose by 94%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Brevard Symphony Orchestra Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within FL. Charities of a similar size with the same main cause include Peggy R McConnell Worthington Center for the Arts ($869k), Oxnard Performing Arts Center Corporation ($870k) and Capital Community Television Inc ($869k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 38% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $95k (8.3% of expenses). Other salaries and wages came to $130k. At year end it held assets of $2.3m against liabilities of $255k, net assets of $2.0m. It reported 5 employees.