Lubbock Symphony Orchestra

Analysis

Lubbock Symphony Orchestra is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in December 1948, 78 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 2024, Lubbock Symphony Orchestra reported income of $2.3m and spending of $2.3m, spending 103% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.3m to $2.3m (+73%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 90%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lubbock Symphony Orchestra sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include Sierra Repertory Theatre Incor Porated ($2.3m), Friends of the Musees Des Arts Decoratifs ($2.3m) and Larta Institute ($2.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 45% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $341k (15% of expenses). At year end it held assets of $6.0m against liabilities of $530k, net assets of $5.5m.