Ocala Symphony Orchestra Inc

Analysis

Ocala Symphony Orchestra Inc is a registered charity in United States, based in Ocala, FL. It received its IRS tax-exemption ruling in August 1977, 49 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 2023, Ocala Symphony Orchestra Inc reported income of $2.8m and spending of $3.1m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.9m to $2.8m (+51%), an average of +11% a year. The sharpest change came in the year to June 2020, when income rose by 115%. Over the whole period it spent 72% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ocala Symphony Orchestra Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within FL. Charities of a similar size with the same main cause include Birmingham Regional Paratransit Consortium ($2.8m), Family Resource and Referral Inc ($2.8m) and Prairie Enthusiasts Inc ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $150k (4.9% of expenses). Other salaries and wages came to $633k. At year end it held assets of $9.7m against liabilities of $3.5m, net assets of $6.3m. It reported 36 employees.