Grand Rapids Symphony Foundation

Analysis

Grand Rapids Symphony Foundation is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in March 2017, 9 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Grand Rapids Symphony Foundation reported income of $339k and spending of $1.8m, spending 518% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $981k to $339k (-65%), an average of -23% a year. The sharpest change came in the year to August 2021, when income rose by 449%. Over the whole period it spent 114% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Grand Rapids Symphony Foundation sits at the 71st percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 64th percentile within MI. Charities of a similar size with the same main cause include Authentic Community Theatre Inc Janet Brooks Treasurer ($339k), Badger Steam & Gas Engine Club Inc ($339k) and German American Heritage Center ($339k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 2.8% of the total. At year end it held assets of $27.5m against liabilities of $16k, net assets of $27.5m.