Shoals Symphony Orchestra

Analysis

Shoals Symphony Orchestra is a registered charity in United States, based in Florence, AL. It received its IRS tax-exemption ruling in May 1987, 39 years ago. 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, Shoals Symphony Orchestra reported income of $475k and spending of $507k, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $232k to $475k (+105%), an average of +20% a year. The sharpest change came in the year to June 2022, when income rose by 51%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Shoals Symphony Orchestra sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 72nd percentile within AL. Charities of a similar size with the same main cause include Photographic Society of America Endowment Fund II ($475k), Foundation for Shamanic Studies Inc ($475k) and Ebenezer Christian Church ($475k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 39% and program service revenue 61% of the total. Other salaries and wages came to $81k. At year end it held assets of $240k against liabilities of $23k, net assets of $217k. It reported 3 employees.