Wichita Falls Youth Symphony Orchestra

Analysis

Wichita Falls Youth Symphony Orchestra is a registered charity in United States, based in Wichita Falls, TX. It received its IRS tax-exemption ruling in November 1995, 31 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 May 2023, Wichita Falls Youth Symphony Orchestra reported income of $198k and spending of $188k, spending 95% of its income. Across the 4 years on record, from May 2020 to May 2023, income fell from $260k to $198k (-24%), an average of -8.7% a year. The sharpest change came in the year to May 2022, when income rose by 129%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Wichita Falls Youth Symphony Orchestra sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 57th percentile within TX. Charities of a similar size with the same main cause include Groove Inc ($198k), Arts by the People Inc ($198k) and Mount Athos Foundation of America Inc ($198k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 82% and program service revenue 8.0% of the total. Compensation of current officers, directors and key employees was $27k (15% of expenses). Other salaries and wages came to $84k. At year end it held assets of $140k against liabilities of $1,223, net assets of $139k. It reported 7 employees.