Colorado Springs Philharmonic Orchestra

Analysis

Colorado Springs Philharmonic Orchestra is a registered charity in United States, based in Colorado SPGS, CO. It received its IRS tax-exemption ruling in September 2003, 23 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 July 2023, Colorado Springs Philharmonic Orchestra reported income of $4.0m and spending of $4.0m, spending 100% of its income. Across the 5 years on record, from July 2019 to July 2023, income fell from $4.1m to $4.0m (-4.6%), an average of -1.2% a year. The sharpest change came in the year to July 2022, when income rose by 142%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Colorado Springs Philharmonic Orchestra sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within CO. Charities of a similar size with the same main cause include Eric Carle Museum of Picture Book Art Inc ($4.0m), Oklahoma Hall of Fame Inc ($4.0m) and Amigos Del Museo Del Barrio ($3.9m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 48% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $385k (9.7% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $4.2m against liabilities of $1.4m, net assets of $2.8m. It reported 221 employees.