Fort Worth Symphony Orchestra Association Inc

Analysis

Fort Worth Symphony Orchestra Association Inc is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in October 1958, 68 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 July 2023, Fort Worth Symphony Orchestra Association Inc reported income of $13.6m and spending of $15.4m, spending 113% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $12.2m to $13.6m (+11%), an average of +2.7% a year. The sharpest change came in the year to July 2021, when income rose by 65%. 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, Fort Worth Symphony Orchestra Association Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within TX. Charities of a similar size with the same main cause include The High Desert Museum ($13.6m), Geffen Playhouse Inc ($13.6m) and Midland Center for the Arts Inc ($13.6m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 62% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $767k (5.0% of expenses). Other salaries and wages came to $6.6m. At year end it held assets of $35.1m against liabilities of $2.9m, net assets of $32.2m. It reported 439 employees.