Chattanooga Symphony and Opera Association

Analysis

Chattanooga Symphony and Opera Association is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in December 1951, 75 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 May 2024, Chattanooga Symphony and Opera Association reported income of $2.0m and spending of $2.7m, spending 135% of what it took in. Across the 6 years on record, from May 2019 to May 2024, income fell from $2.3m to $2.0m (-15%), an average of -3.1% a year. The sharpest change came in the year to May 2022, when income rose by 122%. Over the whole period it spent 117% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Chattanooga Symphony and Opera Association sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within TN. Charities of a similar size with the same main cause include Group I Acting Company Inc ($2.0m), Arthur Aviles Typical Theatre ($2.0m) and Youth Financial Literacy Foundation ($2.0m).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 55% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $97k (3.6% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $1.0m against liabilities of $462k, net assets of $544k. It reported 237 employees.