Houston Symphony Society

Analysis

Houston Symphony Society is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in April 1941, 85 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Houston Symphony Society reported income of $33.4m and spending of $34.4m, spending 103% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $30.5m to $33.4m (+9.5%), an average of +2.3% a year. The sharpest change came in the year to May 2022, when income rose by 29%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Houston Symphony Society sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include Civil-Military Innovation Institute Inc ($33.3m), Hope Media Group ($33.4m) and Virginia Museum of Fine Arts Foundation ($33.3m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 68% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $1.5m (4.4% of expenses). Other salaries and wages came to $16.2m. It paid $70k in professional fundraising fees. At year end it held assets of $7.7m against liabilities of $19.8m, net assets of -$12.0m. It reported 589 employees.