Symphony Tacoma

Analysis

Symphony Tacoma is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in March 1961, 65 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 2023, Symphony Tacoma reported income of $1.0m and spending of $1.4m, spending 139% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $1.0m (-15%), an average of -3.9% a year. The sharpest change came in the year to June 2023, when income dropped by 38%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Symphony Tacoma sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within WA. Charities of a similar size with the same main cause include Automotive Hall of Fame Inc ($1.0m), Tiffin Theatre Inc ($1.0m) and Asociacion Acirc Corp ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $96k (6.6% of expenses). Other salaries and wages came to $772k. At year end it held assets of $1.6m against liabilities of $96k, net assets of $1.5m. It reported 145 employees.