Lexington Philharmonic Society Inc
EIN: 616033529 · Lexington, KY · NTEE: A690
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $1.2M |
| Net Assets | $-163,902 |
Is Lexington Philharmonic Society Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Lexington Philharmonic Society Inc
Lexington Philharmonic Society Inc (EIN: 616033529) is a nonprofit organization based in Lexington, KY, classified under NTEE code A690. The organization reported total revenue of $1.3M and total assets of $66K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lexington Philharmonic Society Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lexington Philharmonic Society Inc is a mid-size nonprofit that has been operating for 63 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of -0.6%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.1M |
| Total Expenses | $1.2M |
| Surplus / Deficit | $-111,688 |
| Total Assets | $52K |
| Total Liabilities | $216K |
| Net Assets | $-163,902 |
| Operating Margin | -10.6% |
| Debt-to-Asset Ratio | 412.3% |
| Months of Reserves | 0.5 months |
Financial Health Grade: D
In 2024, Lexington Philharmonic Society Inc reported a deficit of $112K with expenses exceeding revenue, holds 0.5 months of operating reserves (limited), has a debt-to-asset ratio of 412.3% (high leverage).
Financial Trends
Over 14 years of filings (2011–2024), Lexington Philharmonic Society Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +14.0% | +16.1% | -51.7% |
| 2023 | +11.5% | +17.5% | -18.4% |
| 2022 | +13.4% | +100.8% | -57.5% |
| 2021 | -27.8% | -55.6% | +188.0% |
| 2020 | -10.2% | -28.8% | -19.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1963 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Lexington Philharmonic Society 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 Lexington Philharmonic Society 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $112K, with expenses exceeding revenue.
- Debt-to-asset ratio: 412.3%.
Frequently Asked Questions about Lexington Philharmonic Society Inc
Is Lexington Philharmonic Society Inc a legitimate charity?
Lexington Philharmonic Society Inc (EIN: 616033529) is a registered tax-exempt nonprofit based in Kentucky. It has 14 years of IRS 990 filings on record. Total revenue: $1.3M. No red flags identified. Financial health grade: D.
How does Lexington Philharmonic Society Inc spend its money?
Lexington Philharmonic Society Inc reported $1.3M in total revenue in IRS 990 filings. 14 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Lexington Philharmonic Society Inc tax-deductible?
Lexington Philharmonic Society Inc is registered as a tax-exempt nonprofit (EIN: 616033529). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Lexington Philharmonic Society Inc located?
Lexington Philharmonic Society Inc is headquartered in Lexington, Kentucky and files with the IRS under EIN 616033529. It is classified under NTEE code A690.
How many years of IRS 990 filings does Lexington Philharmonic Society Inc have?
Lexington Philharmonic Society Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.3M in total revenue.
Filing History
IRS 990 filing history for Lexington Philharmonic Society Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Lexington Philharmonic Society Inc's revenue has declined by 7.8%, moving from $1.1M to $1.1M. Total assets decreased by 49.1% over the same period, from $103K to $52K. Total functional expenses fell by 4.2%, from $1.2M to $1.2M. In its most recent filing year (2024), Lexington Philharmonic Society Inc reported a deficit of $112K, with expenses exceeding revenue. The organization holds $216K in liabilities against $52K in assets (debt-to-asset ratio: 412.3%), resulting in net assets of $-163,902.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $1.1M | $1.2M | $52K | $216K | — | View 990 |
| 2023 | $928K | $1.0M | $109K | $161K | — | View 990 |
| 2022 | $833K | $858K | $133K | $106K | — | View 990 |
| 2021 | $734K | $427K | $313K | $261K | — | View 990 |
| 2020 | $1.0M | $962K | $109K | $364K | — | View 990 |
| 2019 | $1.1M | $1.4M | $135K | $445K | — | View 990 |
| 2018 | $1.3M | $1.4M | $88K | $179K | — | View 990 |
| 2017 | $1.3M | $1.3M | $165K | $183K | — | View 990 |
| 2016 | $1.3M | $1.3M | $191K | $238K | — | View 990 |
| 2015 | $1.2M | $1.3M | $177K | $241K | — | View 990 |
| 2014 | $1.3M | $1.2M | $264K | $271K | — | View 990 |
| 2013 | $1.2M | $1.2M | $225K | $307K | — | View 990 |
| 2012 | $1.4M | $1.3M | $194K | $265K | — | View 990 |
| 2011 | $1.1M | $1.2M | $103K | $305K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.1M, expenses of $1.2M, and assets of $52K (revenue +14.0% year-over-year).
- 2023: Revenue of $928K, expenses of $1.0M, and assets of $109K (revenue +11.5% year-over-year).
- 2022: Revenue of $833K, expenses of $858K, and assets of $133K (revenue +13.4% year-over-year).
- 2021: Revenue of $734K, expenses of $427K, and assets of $313K (revenue -27.8% year-over-year).
- 2020: Revenue of $1.0M, expenses of $962K, and assets of $109K (revenue -10.2% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.4M, and assets of $135K (revenue -14.1% year-over-year).
- 2018: Revenue of $1.3M, expenses of $1.4M, and assets of $88K (revenue +2.0% year-over-year).
- 2017: Revenue of $1.3M, expenses of $1.3M, and assets of $165K (revenue +0.3% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.3M, and assets of $191K (revenue +7.3% year-over-year).
- 2015: Revenue of $1.2M, expenses of $1.3M, and assets of $177K (revenue -5.3% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.2M, and assets of $264K (revenue +6.3% year-over-year).
- 2013: Revenue of $1.2M, expenses of $1.2M, and assets of $225K (revenue -14.3% year-over-year).
- 2012: Revenue of $1.4M, expenses of $1.3M, and assets of $194K (revenue +21.5% year-over-year).
- 2011: Revenue of $1.1M, expenses of $1.2M, and assets of $103K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lexington Philharmonic Society Inc:
Data Sources and Methodology
This transparency report for Lexington Philharmonic Society 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.