Project Step Inc Symphony Hall
Project Step Inc Symphony Hall: Strong Financials, High Program Spending
EIN: 222505816 · Boston, MA · NTEE: A6E0 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $2.6M |
| Total Expenses | $773K |
| Program Spending | 85% |
| Net Assets | $8.9M |
| Transparency Score | 85/100 |
Is Project Step Inc Symphony Hall Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Project Step Inc Symphony Hall directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Project Step Inc Symphony Hall
Project Step Inc Symphony Hall (EIN: 222505816) is a nonprofit organization based in Boston, MA, classified under NTEE code A6E0. The organization reported total revenue of $2.6M and total assets of $9.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Project Step Inc Symphony Hall's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Project Step Inc Symphony Hall is a mid-size nonprofit that has been operating for 42 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 21.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.5M |
| Total Expenses | $773K |
| Surplus / Deficit | +$5.8M |
| Total Assets | $8.9M |
| Total Liabilities | $46K |
| Net Assets | $8.9M |
| Operating Margin | 88.2% |
| Debt-to-Asset Ratio | 0.5% |
| Months of Reserves | 138.3 months |
Financial Health Grade: A
In 2023, Project Step Inc Symphony Hall reported a surplus of $5.8M with revenue exceeding expenses, holds 138.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.5% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Project Step Inc Symphony Hall's revenue has grown at a compound annual growth rate (CAGR) of 21.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +635.3% | +5.4% | +197.4% |
| 2022 | -16.5% | +7.2% | -12.4% |
| 2021 | +28.6% | +12.7% | +32.3% |
| 2020 | +2.5% | -9.7% | +15.5% |
| 2019 | +6.4% | -5.4% | +6.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Project Step Inc Symphony Hall with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Project Step Inc Symphony Hall allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $5.8M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.5%.
Executive Compensation Analysis
Executive compensation cannot be fully assessed without specific salary figures for key personnel, as the provided data only includes total expenses.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Project Step Inc Symphony Hall:
- Significant revenue growth in 2023 to $6,539,500, indicating strong fundraising or grant acquisition.
- Healthy asset base of $8,904,494 in 2023, providing financial stability.
- Consistent low liability-to-asset ratio, with liabilities at $45,511 against assets of $8,904,494 in 2023.
- Zero reported lobbying costs, suggesting a focus on direct mission activities.
Frequently Asked Questions about Project Step Inc Symphony Hall
Is Project Step Inc Symphony Hall a legitimate charity?
Based on AI analysis of IRS 990 filings, Project Step Inc Symphony Hall (EIN: 222505816) appears legitimate. Mission Score: 85/100. 0 red flags identified, 4 strengths noted.
How does Project Step Inc Symphony Hall spend its money?
Project Step Inc Symphony Hall directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Project Step Inc Symphony Hall tax-deductible?
Project Step Inc Symphony Hall is registered as a tax-exempt nonprofit (EIN: 222505816). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Project Step Inc Symphony Hall's spending goes to programs?
Project Step Inc Symphony Hall directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Project Step Inc Symphony Hall compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Project Step Inc Symphony Hall is above average for NTEE category A6E0 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Project Step Inc Symphony Hall located?
Project Step Inc Symphony Hall is headquartered in Boston, Massachusetts and files with the IRS under EIN 222505816. It is classified under NTEE code A6E0.
How many years of IRS 990 filings does Project Step Inc Symphony Hall have?
Project Step Inc Symphony Hall has 12 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 $2.6M in total revenue.
What does Project Step Inc Symphony Hall do?
Project Step Inc Symphony Hall is a nonprofit organization in the Arts, Culture & Humanities sector, located in Boston, Massachusetts. It is classified under NTEE code A6E0.
How much revenue does Project Step Inc Symphony Hall have?
Project Step Inc Symphony Hall reported total revenue of $2,575,840. Based on 12 IRS 990 filings on record.
What are Project Step Inc Symphony Hall's total assets?
Project Step Inc Symphony Hall holds total assets of $9,366,101 as reported in IRS 990 filings.
Where is Project Step Inc Symphony Hall located?
Project Step Inc Symphony Hall is based in Boston, Massachusetts.
What is Project Step Inc Symphony Hall's EIN?
Project Step Inc Symphony Hall's Employer Identification Number (EIN) is 222505816. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Project Step Inc Symphony Hall?
Project Step Inc Symphony Hall is classified under NTEE code A6E0 (Arts, Culture & Humanities).
Is Project Step Inc Symphony Hall a registered 501(c)(3)?
Yes, Project Step Inc Symphony Hall is recognized as a tax-exempt organization by the IRS. EIN: 222505816.
Does Project Step Inc Symphony Hall file IRS Form 990?
Yes, Project Step Inc Symphony Hall has 12 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Project Step Inc Symphony Hall's revenue in 2023?
In the 202306 filing period, Project Step Inc Symphony Hall reported total revenue of $6,539,500, total expenses of $772,822, and net assets of $8,904,494.
Is Project Step Inc Symphony Hall's revenue growing or declining?
Project Step Inc Symphony Hall's revenue is growing. Revenue went from $889,419 (202206) to $6,539,500 (202306), a +635.3% change. Based on 12 filings on record.
What is Project Step Inc Symphony Hall's most recent 990 filing?
The most recent IRS Form 990 filing for Project Step Inc Symphony Hall covers tax period 202306. It shows revenue of $6,539,500, expenses of $772,822, total assets of $8,904,494, and liabilities of $45,511.
How much does Project Step Inc Symphony Hall spend on programs vs administration?
Based on IRS 990 analysis, Project Step Inc Symphony Hall allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Project Step Inc Symphony Hall a trustworthy charity?
Based on AI analysis of IRS 990 data, Project Step Inc Symphony Hall appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 4 strengths noted.
What are Project Step Inc Symphony Hall's strengths?
Positive indicators for Project Step Inc Symphony Hall include: Significant revenue growth in 2023 to $6,539,500, indicating strong fundraising or grant acquisition.. Healthy asset base of $8,904,494 in 2023, providing financial stability.. Consistent low liability-to-asset ratio, with liabilities at $45,511 against assets of $8,904,494 in 2023.. Zero reported lobbying costs, suggesting a focus on direct mission activities.. These findings are derived from AI analysis of the organization's financial filings.
How does Project Step Inc Symphony Hall compensate executives?
Executive compensation cannot be fully assessed without specific salary figures for key personnel, as the provided data only includes total expenses. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Project Step Inc Symphony Hall?
• 2023 filings show total revenue of $6,539,500, a significant increase from previous years. • Executive compensation is not explicitly detailed in the provided data, making a full assessment difficult. • The organization consistently reports 0% lobbying costs across all available years. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
What factors contributed to the dramatic increase in revenue from $889,419 in 2022 to $6,539,500 in 2023?
The provided data does not specify the exact sources, but such a substantial increase suggests a major grant, a successful capital campaign, or a significant one-time donation in the 2023 fiscal year.
How does the organization manage to maintain such a low liability figure relative to its assets, and what does this imply about its financial management?
The consistently low liabilities (e.g., $45,511 in 2023) against growing assets (e.g., $8,904,494 in 2023) indicate prudent financial management, minimal reliance on debt, and strong cash flow, contributing to long-term stability.
Filing History
IRS 990 filing history for Project Step Inc Symphony Hall showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Project Step Inc Symphony Hall's revenue has grown by 748.5%, moving from $771K to $6.5M. Total assets increased by 520.8% over the same period, from $1.4M to $8.9M. Total functional expenses rose by 92.6%, from $401K to $773K. In its most recent filing year (2023), Project Step Inc Symphony Hall reported a surplus of $5.8M, with revenue exceeding expenses. The organization holds $46K in liabilities against $8.9M in assets (debt-to-asset ratio: 0.5%), resulting in net assets of $8.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.5M | $773K | $8.9M | $46K | — | — |
| 2022 | $889K | $733K | $3.0M | $30K | — | View 990 |
| 2021 | $1.1M | $684K | $3.4M | $18K | — | View 990 |
| 2020 | $828K | $607K | $2.6M | $73K | — | View 990 |
| 2019 | $808K | $672K | $2.2M | $14K | — | View 990 |
| 2018 | $759K | $710K | $2.1M | $11K | — | View 990 |
| 2017 | $790K | $692K | $2.0M | $3K | — | View 990 |
| 2016 | $912K | $652K | $1.8M | $15K | — | View 990 |
| 2015 | $794K | $629K | $1.7M | $32K | — | View 990 |
| 2014 | $388K | $446K | $1.6M | $6K | — | View 990 |
| 2013 | $481K | $426K | $1.6M | $6K | — | View 990 |
| 2012 | $771K | $401K | $1.4M | $18K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.5M, expenses of $773K, and assets of $8.9M (revenue +635.3% year-over-year).
- 2022: Revenue of $889K, expenses of $733K, and assets of $3.0M (revenue -16.5% year-over-year).
- 2021: Revenue of $1.1M, expenses of $684K, and assets of $3.4M (revenue +28.6% year-over-year).
- 2020: Revenue of $828K, expenses of $607K, and assets of $2.6M (revenue +2.5% year-over-year).
- 2019: Revenue of $808K, expenses of $672K, and assets of $2.2M (revenue +6.4% year-over-year).
- 2018: Revenue of $759K, expenses of $710K, and assets of $2.1M (revenue -3.8% year-over-year).
- 2017: Revenue of $790K, expenses of $692K, and assets of $2.0M (revenue -13.4% year-over-year).
- 2016: Revenue of $912K, expenses of $652K, and assets of $1.8M (revenue +14.8% year-over-year).
- 2015: Revenue of $794K, expenses of $629K, and assets of $1.7M (revenue +104.6% year-over-year).
- 2014: Revenue of $388K, expenses of $446K, and assets of $1.6M (revenue -19.3% year-over-year).
- 2013: Revenue of $481K, expenses of $426K, and assets of $1.6M (revenue -37.6% year-over-year).
- 2012: Revenue of $771K, expenses of $401K, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Project Step Inc Symphony Hall:
Data Sources and Methodology
This transparency report for Project Step Inc Symphony Hall 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.