Bangor Symphony Orchestra
- Assets
- $3.4m
- Revenue
- $1.1m
- Investments
- $17.7k
- Employees
- 6
- Location
- Bangor, ME
- Founding
- 06/1968
- Data as of
- 06/2022
- EIN
- 01-0024645
Organization Overview
Bangor Symphony Orchestra is located in Bangor, ME. The organization was established in 1968. According to its NTEE Classification (A69) the organization is classified as: Symphony Orchestras, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Bangor Symphony Orchestra employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bangor Symphony Orchestra is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Bangor Symphony Orchestra generated $1.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $844.9k during the year ending 06/2022. While expenses have increased by 0.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE BANGOR SYMPHONY ORCHESTRA PROVIDES POWERFUL, ENRICHING AND DIVERSE MUSICAL EXPERIENCES THROUGH LIVE CONCERT PERFORMANCES AND EDUCATION PROGRAMS OF THE HIGHEST QUALITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONCERTS - THE BSO PRODUCES LIVE CLASSICAL MUSIC PERFORMANCES FOR OVER 10,000 ATTENDEES FROM THROUGHOUT CENTRAL MAINE. THE BSO PRODUCES MULTIPLE CLASSICAL MUSIC CONCERTS, A POPS CONCERT, EDUCATIONAL CONCERTS FOR YOUNG PEOPLE.
EDUCATION - THROUGH THE BANGOR SYMPHONY YOUTH ORCHESTRAS AND VARIOUS OUTREACH PROGRAMS. THE BSO PROVIDES ACCESSIBLE EDUCATIONAL OPPORTUNITIES TO YOUTH IN THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Sutherland President | OfficerTrustee | 1 | $0 |
Jennifer Eastman Treasurer | OfficerTrustee | 1 | $0 |
Kay Rand Secretary | OfficerTrustee | 1 | $0 |
Thomas Gower Vice President | OfficerTrustee | 1 | $0 |
Charles Burger Director | Trustee | 1 | $0 |
Edward Allman Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $519,028 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $519,028 |
| Total Program Service Revenue | $233,034 |
| Investment income | $49,751 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $89,438 |
| Net Income from Fundraising Events | $42,105 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,063,559 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $67,500 |
| Compensation of current officers, directors, key employees. | $43,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $132,271 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,836 |
| Payroll taxes | $16,238 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,312 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,411 |
| Office expenses | $28,036 |
| Information technology | $3,596 |
| Royalties | $0 |
| Occupancy | $78,055 |
| Travel | $28,171 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,594 |
| Insurance | $7,244 |
| All other expenses | $132,327 |
| Total functional expenses | $844,905 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $247,865 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $138,498 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,018 |
| Net Land, buildings, and equipment | $35,540 |
| Investments—publicly traded securities | $2,929,629 |
| Investments—other securities | $17,698 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,375,248 |
| Accounts payable and accrued expenses | $18,959 |
| Grants payable | $0 |
| Deferred revenue | $17,650 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $36,609 |
| Net assets without donor restrictions | $383,670 |
| Net assets with donor restrictions | $2,954,969 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,375,248 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Portland Maine Symphony Orchestra Portland, ME | $16,462,994 | $4,332,163 |
Bangor Symphony Orchestra Bangor, ME | $3,375,248 | $1,063,559 |
Symphony New Hampshire Nashua, NH | $872,145 | $560,729 |
Seacoast Community Chamber Orchestra Portsmouth, NH | $211,073 | $295,031 |
Portland Chamber Music Festival Portland, ME | $151,545 | $228,015 |
New Hampshire Philharmonic Orchestra Incorporated Concord, NH | $175,360 | $278,577 |
Midcoast Symphony Orchestra Brunswick, ME | $0 | $58,732 |
Camerata New England Inc Hanover, NH | $17,034 | $0 |
Lakes Region Symphony Orchestra Meredith, NH | $165,424 | $0 |
The Nashua Community Chamber Orchestra Nashua, NH | $58,844 | $0 |