Alabama Symphony Endowment

Analysis

Alabama Symphony Endowment is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in March 1996, 30 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Alabama Symphony Endowment reported income of $1.9m and spending of $878k, leaving 54% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.4m to $1.9m (-56%), an average of -19% a year. The sharpest change came in the year to June 2023, when income rose by 72%. Over the whole period it spent 40% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Alabama Symphony Endowment sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 89th percentile within AL. Charities of a similar size with the same main cause include Center for Discovery Magnet Services Corporation ($1.9m), United Way of the Black Hills ($1.9m) and Finger Lakes Grassroots Festival Organization Inc ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% of the total. At year end it held assets of $18.7m against liabilities of $0, net assets of $18.7m.