Oklahoma Philharmonic Society Inc

Analysis

Oklahoma Philharmonic Society Inc is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in December 1988, 38 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 2023, Oklahoma Philharmonic Society Inc reported income of $6.1m and spending of $6.7m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.8m to $6.1m (+4.9%), an average of +1.2% a year. The sharpest change came in the year to June 2022, when income rose by 57%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Oklahoma Philharmonic Society Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within OK. Charities of a similar size with the same main cause include Cicero Research ($6.1m), Association for the Preservation of Virginia Antiquities ($6.1m) and Northeastern Pennsylvania Educational Television Association ($6.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $287k (4.3% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $16.9m against liabilities of $1.1m, net assets of $15.8m. It reported 251 employees.