Wichita Falls Symphony Orchestra Inc

Analysis

Wichita Falls Symphony Orchestra Inc is a registered charity in United States, based in Wichita Falls, TX. It received its IRS tax-exemption ruling in April 1950, 76 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 May 2024, Wichita Falls Symphony Orchestra Inc reported income of $970k and spending of $821k, spending 85% of its income. Across the 5 years on record, from May 2020 to May 2024, income grew from $665k to $970k (+46%), an average of +9.9% a year. The sharpest change came in the year to May 2022, when income rose by 71%. Over the whole period it spent 99% 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 Symphony Orchestra Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Page Seventy Three Productions Inc ($969k), Pendleton Round-Up Foundation ($970k) and Quincy Community Theatre ($969k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 85% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $55k (6.7% of expenses). Other salaries and wages came to $68k. At year end it held assets of $1.5m against liabilities of $5,150, net assets of $1.4m. It reported 149 employees.