Panama City Symphony Inc

Analysis

Panama City Symphony Inc is a registered charity in United States, based in Panama City, FL. It received its IRS tax-exemption ruling in April 1998, 28 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, Panama City Symphony Inc reported income of $350k and spending of $327k, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $242k to $350k (+45%), an average of +9.7% a year. The sharpest change came in the year to June 2022, when income rose by 36%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Panama City Symphony Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 67th percentile within FL. Charities of a similar size with the same main cause include Opera on the James ($350k), 1941 Historical Aircraft Group Inc ($350k) and Thomasville Entertainment Foundation Inc ($350k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 14% of the total. At year end it held assets of $211k against liabilities of $1,200, net assets of $210k.