Florida West Coast Symphony Inc

Analysis

Florida West Coast Symphony Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in May 1986, 40 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2024, Florida West Coast Symphony Inc reported income of $66.5m and spending of $14.3m, leaving 79% of income unspent that year. Across the 5 years on record, from July 2020 to July 2024, income grew from $13.7m to $66.5m (+384%), an average of +48% a year. The sharpest change came in the year to July 2024, when income rose by 559%. Over the whole period it spent 43% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Florida West Coast Symphony Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Mount Vernon Ladies Association of the Union ($66.1m), Denver Center for the Performing Arts ($66.8m) and Gordon Research Conferences ($65.7m).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 92% and program service revenue 5.9% of the total. Compensation of current officers, directors and key employees was $710k (5.0% of expenses). Other salaries and wages came to $7.6m. At year end it held assets of $83.5m against liabilities of $3.0m, net assets of $80.6m. It reported 356 employees.