Knoxville Symphony Society Inc

Analysis

Knoxville Symphony Society Inc is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in May 1950, 76 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 May 2023, Knoxville Symphony Society Inc reported income of $4.5m and spending of $4.5m, spending 100% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $4.3m to $4.5m (+4.3%), an average of +1.1% a year. The sharpest change came in the year to May 2022, when income rose by 34%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Knoxville Symphony Society Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within TN. Charities of a similar size with the same main cause include Blue Ridge Public Television ($4.5m), Victims of Communism Memorial Foundation Inc ($4.5m) and Buffalo Olmsted Parks Conservancy Inc ($4.5m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 54% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $205k (4.5% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $1.5m against liabilities of $903k, net assets of $596k. It reported 201 employees.