Pegasus the Orchestra Inc

Analysis

Pegasus the Orchestra Inc is a registered charity in United States, based in Rochelle Park, NJ. It received its IRS tax-exemption ruling in April 2019, 7 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 December 2023, Pegasus the Orchestra Inc reported income of $94k and spending of $111k, spending 118% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $156k to $94k (-40%), an average of -12% a year. The sharpest change came in the year to December 2022, when income rose by 423%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Pegasus the Orchestra Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 43rd percentile within NJ. Charities of a similar size with the same main cause include George and Rebecca Barnes Foundation Inc ($94k), Christian News and Information Institute Inc ($94k) and Momi Museum of Imagination and Innovation a NJ Nonprofit Corp ($94k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $27k against liabilities of $0, net assets of $27k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.