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Charleston Symphony Orchestra EIN 57-6000192

Charleston Symphony Orchestra

EIN  57-6000192 Public charity (501(c)(3)) Charleston, SC Founded 1936
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/23/26 · see original filing: IRS
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Size
$1–10M
What they do
Inspires and engages the community with exceptional musical performances and educational programs.
Leadership
Michael a Smith · Chief Executive Officer · $162K
Money in and out
$5.8M revenue, $5.5M expenses
Bottom line
80% program efficiency

Inspires and engages the community with exceptional musical performances and educational programs. For fiscal year 2024 it reported $5.8M in revenue, $5.5M in expenses, and $9.6M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$5.8M
Pt VIII · Ln 12
Total expenses
$5.5M
Pt IX · Ln 25
Net assets
$9.6M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $261K
Where spending went · Part IX cols B–D
Program services $0.80 Management & general $0.08 Fundraising $0.12
Program efficiency
80%
of spending reaches programs▲ +2% vs prior filing year
Operating runway
20.8mo
months of highly liquid reserves at operating expense rate▲ +13% vs prior filing year
Surplus margin
+5%
revenue over expenses, this year▲ +23% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$5.8M
FY2024▲ +13%
Expenses
$5.5M
FY2024▲ +12%
Total assets
$11.3M
FY2024▲ +5%
Total liabilities
$1.7M
FY2024▼ -13%
Total revenue
$5.8M
Pt VIII · Ln 12
Total expenses
$5.5M
Pt IX · Ln 25
Net assets
$9.6M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$261K
Total assetsPt X · Ln 16$11.3M
Program-expense ratioPt IX · col B80%
Voting members of governing bodyPt I · Ln 326
Independent voting membersPt I · Ln 426
Mission & Programs · Part III

Where the work happens

2 program services account for $4.4M of program spending, described in the organization's own filed words · FY2024.
01

The symphony presented over 75 concerts and special events at more than a dozen venues throughout the 2024-2025 season, showcasing both internationally renowned musicians and local artists.

$3.8Mprogram expense
02

The symphony is committed to providing high-quality artistic and educational programming that is accessible to individuals of all ages and backgrounds. Each of the symphony's 24 core musicians dedicates approximately one-third of their professional time to education and community engagement initiatives, collectively reaching more than…

$580Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCharleston Symphony Orchestra
EINHdr · item D57-6000192
Principal addressHdr · item CCharleston, SC
WebsiteHdr · item Jcharlestonsymphony.org
Year of formationHdr · item L1936
State of legal domicileHdr · item MSC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A690)
Ruling yearIRS BMFMar 1946

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a26
Independent voting membersPt VI · Ln 1b26
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Michael a Smith
Chief Executive Officer
$162,225Pt VII · Sec A
$0Pt VII · Sec A
Clyde Hiers
Director
$0Pt VII · Sec A
Kay Maybank
Director
$0Pt VII · Sec A
Wendi Huff
Director
$0Pt VII · Sec A
Tracy Grooms
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Anne Olson
Director
$0Pt VII · Sec A

Michael a Smith’s $162K as Chief Executive Officer is at the 71st percentile of top reported officer pay among 3916 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Michael a Smith$162,225$162,500$131,125$119,481$116,567$119,786
Kenneth King Kei Lam————$128,750$126,735
Yuriy Bekker————$96,950$101,479

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$3.5M · 61%
Program service revenue$2.1M · 37%
Investment income$97K · 2%
Other revenue$38K · 1%
Contributions & grants61%$3.5M
Program service revenue37%$2.1M
Investment income2%$97K
Other revenue1%$38K
— government grantsLn 1e$343K
Total revenueLn 12$5.8M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.80 Management & general $0.08 Fundraising $0.12
Program services80%$4.4M
Management & general8%$448K
Fundraising12%$638K
Total functional expensesLn 25$5.5M

Balance Sheet

Part X · end of year
CashLn 1$9.5M
Total assetsLn 16$11.3M
Total liabilitiesLn 26$1.7M
Total net assetsLn 32$9.6M
Months of cash on handcomputed20.7

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $9.5M · Operating expenses (Pt IX) $5.5M · Less non-cash grants $5K · Cash operating expenses/yr $5.5M
20.8 months
Where the money goes
Program services
Program services $4.4M · Total expenses $5.5M
80%
Management & General
Management & general $448K · Total expenses $5.5M
8%
Fundraising
Fundraising $638K · Total expenses $5.5M
12%
Cost to raise $1
Fundraising expense (3-yr avg) $527K · Solicited contributions (3-yr avg) $3.0M
$0.17 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $3.5M · Total revenue $5.8M
61%
Government reliance
Government grants $343K · Total revenue $5.8M
6%
Earned-income share
Program service revenue $2.1M · Total revenue $5.8M
37%
Investment reliance
Investment income $97K · Total revenue $5.8M
+2%
Program self-sufficiency
Program service revenue $2.1M · Total expenses $5.5M
39%
Growth & trend
Revenue growth (YoY)
This year $5.8M · Prior year $5.1M
+13%
Revenue CAGR
FY2019 $3.5M · FY2024 $5.8M
+10%
Net-asset trend (YoY)
End of year $9.6M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $5.8M · Expenses $5.5M
+5%
Liabilities-to-Assets
Total liabilities — · Total assets $11.3M
—
Net-asset ratio
Net assets $9.6M · Total assets $11.3M
85%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $11.3M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Michael a Smith · Reported title CHIEF EXECUTIVE OFFICER · Highest reported compensation $162K · Total expenses $5.5M
3%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $3.3M · Total expenses $5.5M
61%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 80%——
Overhead ratio 8%——
Fundraising cost ratio 18%——
Revenue growth 13%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2025
Daniel Island Community Fund INCFY2025$8K
David Wallace Smith and Joan Stowell Smith Charitable FoundatioFY2025$3K
Elizabeth Calvin Bonner Foundation TrustFY2025$500
Total grants receivedfrom 3 funders$12K
See all 3 funders →

Similar Organizations

Closest in mission — by what they do
California Symphony Orchestra INCCA
Berkeley Symphony OrchestraCA
Chicago Symphony OrchestraIL
Central Wisconsin Symphony Orchestra INCWI
San Luis Obispo Symphony INCCA
Santa Barbara Symphony Orchestra AssociationCA
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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$5.1M revenue · ⤓ 990 PDF
FY2023$5.4M revenue · ⤓ 990 PDF
FY2022$9.2M revenue · ⤓ 990 PDF
FY2021$3.9M revenue · ⤓ 990 PDF
FY2020$3.5M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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