Hendersonville Symphony Orchestra Inc
EIN: 561063207 · Hendersonville, NC · NTEE: A69Z
Is Hendersonville Symphony Orchestra Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hendersonville Symphony Orchestra Inc
Hendersonville Symphony Orchestra Inc (EIN: 561063207) is a nonprofit organization based in Hendersonville, NC, classified under NTEE code A69Z. The organization reported total revenue of $487K and total assets of $655K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hendersonville Symphony Orchestra Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hendersonville Symphony Orchestra Inc is a small nonprofit that has been operating for 53 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -5.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $272K |
| Total Expenses | $367K |
| Surplus / Deficit | $-94,268 |
| Total Assets | $530K |
| Total Liabilities | $45K |
| Net Assets | $485K |
| Operating Margin | -34.6% |
| Debt-to-Asset Ratio | 8.4% |
| Months of Reserves | 17.3 months |
Financial Health Grade: B
In 2023, Hendersonville Symphony Orchestra Inc reported a deficit of $94K with expenses exceeding revenue, holds 17.3 months of operating reserves (strong position), has a debt-to-asset ratio of 8.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Hendersonville Symphony Orchestra Inc's revenue has declined at a compound annual growth rate (CAGR) of -5.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -5.4% | +14.5% | -6.7% |
| 2022 | +75.3% | +329.8% | -15.9% |
| 2021 | -54.1% | -77.7% | +23.6% |
| 2020 | -1.8% | -19.4% | -15.1% |
| 2019 | +3.0% | +1.4% | -7.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2100 |
| IRS Ruling Date | 1973 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Hendersonville Symphony Orchestra Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hendersonville Symphony Orchestra Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $94K, with expenses exceeding revenue.
- Debt-to-asset ratio: 8.4%.
Frequently Asked Questions about Hendersonville Symphony Orchestra Inc
Is Hendersonville Symphony Orchestra Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Hendersonville Symphony Orchestra Inc (EIN: 561063207) insufficient data. 0 red flags identified, 0 strengths noted.
How does Hendersonville Symphony Orchestra Inc spend its money?
Detailed spending breakdown data is not yet available for Hendersonville Symphony Orchestra Inc. Check back for updated IRS 990 analysis.
Are donations to Hendersonville Symphony Orchestra Inc tax-deductible?
Hendersonville Symphony Orchestra Inc is registered as a tax-exempt nonprofit (EIN: 561063207). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Hendersonville Symphony Orchestra Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hendersonville Symphony Orchestra Inc's revenue has declined by 45.7%, moving from $502K to $272K. Total assets decreased by 30.8% over the same period, from $766K to $530K. Total functional expenses rose by 5.3%, from $348K to $367K. In its most recent filing year (2023), Hendersonville Symphony Orchestra Inc reported a deficit of $94K, with expenses exceeding revenue. The organization holds $45K in liabilities against $530K in assets (debt-to-asset ratio: 8.4%), resulting in net assets of $485K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $272K | $367K | $530K | $45K | — | View 990 |
| 2022 | $288K | $320K | $568K | $3K | — | View 990 |
| 2021 | $164K | $75K | $675K | $2K | — | View 990 |
| 2020 | $358K | $334K | $546K | $496 | — | View 990 |
| 2019 | $365K | $414K | $644K | $72K | — | View 990 |
| 2018 | $355K | $408K | $699K | $70K | — | View 990 |
| 2017 | $403K | $429K | $746K | $72K | — | View 990 |
| 2016 | $341K | $458K | $786K | $113K | — | View 990 |
| 2015 | $434K | $461K | $825K | $77K | — | View 990 |
| 2014 | $432K | $410K | $854K | $65K | — | View 990 |
| 2013 | $389K | $389K | $796K | $59K | — | View 990 |
| 2012 | $407K | $457K | $755K | $50K | — | View 990 |
| 2011 | $502K | $348K | $766K | $21K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $272K, expenses of $367K, and assets of $530K (revenue -5.4% year-over-year).
- 2022: Revenue of $288K, expenses of $320K, and assets of $568K (revenue +75.3% year-over-year).
- 2021: Revenue of $164K, expenses of $75K, and assets of $675K (revenue -54.1% year-over-year).
- 2020: Revenue of $358K, expenses of $334K, and assets of $546K (revenue -1.8% year-over-year).
- 2019: Revenue of $365K, expenses of $414K, and assets of $644K (revenue +3.0% year-over-year).
- 2018: Revenue of $355K, expenses of $408K, and assets of $699K (revenue -12.0% year-over-year).
- 2017: Revenue of $403K, expenses of $429K, and assets of $746K (revenue +18.2% year-over-year).
- 2016: Revenue of $341K, expenses of $458K, and assets of $786K (revenue -21.4% year-over-year).
- 2015: Revenue of $434K, expenses of $461K, and assets of $825K (revenue +0.3% year-over-year).
- 2014: Revenue of $432K, expenses of $410K, and assets of $854K (revenue +11.2% year-over-year).
- 2013: Revenue of $389K, expenses of $389K, and assets of $796K (revenue -4.5% year-over-year).
- 2012: Revenue of $407K, expenses of $457K, and assets of $755K (revenue -18.9% year-over-year).
- 2011: Revenue of $502K, expenses of $348K, and assets of $766K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hendersonville Symphony Orchestra Inc:
Data Sources and Methodology
This transparency report for Hendersonville Symphony Orchestra Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.