Amarillo Symphony Inc

Analysis

Amarillo Symphony Inc is a registered charity in United States, based in Amarillo, TX. It received its IRS tax-exemption ruling in September 1945, 81 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 June 2023, Amarillo Symphony Inc reported income of $2.4m and spending of $2.6m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.9m to $2.4m (+26%), an average of +5.9% a year. The sharpest change came in the year to June 2022, when income rose by 62%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Amarillo Symphony Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include Breckenridge History ($2.4m), Ballet Lubbock ($2.4m) and Coastal Discovery Museum ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $100k (3.9% of expenses). Other salaries and wages came to $1.1m. It paid $9,500 in professional fundraising fees. At year end it held assets of $6.2m against liabilities of $784k, net assets of $5.4m. It reported 318 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.