Memphis Symphony Orchestra Inc

Analysis

Memphis Symphony Orchestra Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in February 1956, 70 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 June 2024, Memphis Symphony Orchestra Inc reported income of $5.7m and spending of $4.6m, spending 80% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $5.6m to $5.7m (+1.3%), an average of +0.3% a year. The sharpest change came in the year to June 2022, when income rose by 34%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Memphis Symphony Orchestra 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 93rd percentile, and in the 93rd percentile within TN. Charities of a similar size with the same main cause include Union Arts Center ($5.7m), Bellingrath-Morse Foundation ($5.7m) and Natural History Museum of the Adirondacks ($5.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 79% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $131k (2.9% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $9.0m against liabilities of $450k, net assets of $8.5m. It reported 189 employees.