Miami Symphony Orchestra Inc

Analysis

Miami Symphony Orchestra Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in May 1990, 36 years ago. 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 August 2023, Miami Symphony Orchestra Inc reported income of $1.5m and spending of $1.6m, spending 107% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.1m to $1.5m (+35%), an average of +7.7% a year. The sharpest change came in the year to August 2023, when income rose by 64%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Miami Symphony Orchestra Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include Dailys Foundation Inc ($1.5m), Ruth Page Foundation ($1.5m) and North Texas Solutions for Recovery Inc ($1.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 69% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $185k (11% of expenses). Other salaries and wages came to $103k. At year end it held assets of $52k against liabilities of $3.1m, net assets of -$3.0m. It reported 4 employees.