Austin Symphony Orchestra Society

Analysis

Austin Symphony Orchestra Society is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in July 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 August 2023, Austin Symphony Orchestra Society reported income of $6.6m and spending of $6.3m, spending 96% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $5.0m to $6.6m (+32%), an average of +7.1% a year. The sharpest change came in the year to August 2022, when income rose by 80%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Austin Symphony Orchestra Society 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 95th percentile within TX. Charities of a similar size with the same main cause include Kaleideum ($6.6m), Mid Atlantic Arts Inc ($6.6m) and Harid Conservatory of Music Inc ($6.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 57% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $389k (6.1% of expenses). Other salaries and wages came to $2.9m. It paid $56k in professional fundraising fees. At year end it held assets of $8.5m against liabilities of $1.6m, net assets of $6.9m. It reported 243 employees.