Riverside Symphony Inc
- Assets
- $342.1k
- Revenue
- $381.7k
- Investments
- $0.0
- Employees
- 48
- Location
- New York, NY
- Founding
- 08/1983
- Data as of
- 06/2021
- EIN
- 13-3168350
Organization Overview
Riverside Symphony Inc is located in New York, NY. The organization was established in 1983. 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 06/2021, Riverside Symphony Inc employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverside Symphony Inc 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 06/2021, Riverside Symphony Inc generated $381.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $207.9k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (12.4%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP, PROMOTE AND INCREASE INTEREST IN CLASSICAL AND CONTEMPORARY MUSIC AND COMPOSERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONCERTS/SALONS RIVERSIDE SYMPHONY WAS UNABLE TO PRODUCE A CONCERT SEASON THIS YEAR DUE TO COVID19 PANDEMIC RESTRICTIONS AND VENUE CLOSURES.
MUSIC MEMORY FOURTEEN SCHOOLS, REPRESENTING THOUSANDS OF NYC PUBLIC SCHOOL STUDENTS, ENROLLED IN RIVERSIDE SYMPHONY'S 2020-21 MUSIC MEMORY PROGRAM.TWO PROFESSIONAL DEVELOPMENT WORKSHOPS TOOK PLACE OVER ZOOM THIS YEAR, IN JANUARY 2021 AND APRIL 2021, LED BY MUSIC MEMORY DIRECTOR MATT MALONE. THE WORKSHOPS CENTER AROUND THE EXPLORATION OF MM CURRICULUM AND ITS SUGGESTED TIMELINE, MEANING EACH WORKSHOP COMPRISES A PRESENTATION AND DISCUSSION OF UPCOMING CONTENT. WORKSHOPS ARE RUN IN THE SOCRATIC STYLE, WITH OPEN DIALOGUE BETWEEN TEACHERS AND MALONE, EVALUATING THE BENEFITS OF VARIOUS TEACHING METHODS AND THE MOST EFFECTIVE STRATEGIES FOR IMPLEMENTING MM LESSONS. ADDITIONALLY, THE ORCHESTRA HAS BEEN WORKING TO DEVELOP ITS "MEET THE ORCHESTRA" VIDEO SERIES AS A SUPPLEMENTAL RESOURCE FOR OUR MUSIC MEMORY TEACHERS. THE VIDEOS FEATURE THE ORCHESTRA'S PRINCIPAL MUSICIANS EXPLAINING THEIR INSTRUMENTS AND DISCUSSING THEIR LIVES AS MUSICIANS, AIDED BY A GENEROUS SELECTION OF MUSICAL EXAMPLES. THREE VIDEOS COMPLETED PRODUCTION AND THE SERIES LAUNCHED ON APRIL 14, 2021.THE 2020-21 MUSIC MEMORY PROJECT CULMINATED THIS YEAR ON MAY 19, 2021, WHEN THE ANNUAL CITYWIDE FINALS COMPETITION TOOK PLACE VIRTUALLY OVER ZOOM, FEATURING A LIVE PERFORMANCE FROM RIVERSIDE'S PRINCIPAL PIANIST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Korf Director / President | Trustee | 40 | $72,050 |
George Rothman Director | Trustee | 1.5 | $4,727 |
Edward L Schiff Vice Chairman | OfficerTrustee | 1.5 | $0 |
Michael C Nardo Chairman | OfficerTrustee | 1.5 | $0 |
Phillip Y Zhang Treasurer | OfficerTrustee | 1.5 | $0 |
Lynn Spurgat Secretary | OfficerTrustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $10,124 |
| Related organizations | $0 |
| Government grants | $75,450 |
| All other contributions, gifts, grants, and similar amounts not included above | $296,088 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $381,662 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $381,723 |
| 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. | $72,050 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,469 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $661 |
| Payroll taxes | $11,133 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,356 |
| Advertising and promotion | $0 |
| Office expenses | $13,034 |
| Information technology | $2,437 |
| Royalties | $0 |
| Occupancy | $13,500 |
| Travel | $0 |
| 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 | $0 |
| Insurance | -$2,563 |
| All other expenses | $163 |
| Total functional expenses | $207,887 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $188,940 |
| Savings and temporary cash investments | $100,061 |
| Pledges and grants receivable | $8,588 |
| 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 | $11,103 |
| Prepaid expenses and deferred charges | $27,499 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,892 |
| Total assets | $342,083 |
| Accounts payable and accrued expenses | $3,402 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $45,755 |
| Other liabilities | $0 |
| Total liabilities | $49,157 |
| Net assets without donor restrictions | $278,926 |
| Net assets with donor restrictions | $14,000 |
| 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 | $342,083 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Riverside Symphony Inc has recieved totaling $125,934.
| Awarding Organization | Amount |
|---|---|
Joseph & Laura Wortman Foundation 9-150033131768 New York, NY PURPOSE: GENERAL OEPRATING | $67,523 |
The George L Shields Foundation Inc Bethesda, MD PURPOSE: FOR PROGRAM SERVICES | $15,000 |
Morrison & Foerster Foundation San Francisco, CA PURPOSE: MUSIC MEMORY PROGRAM | $10,000 |
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $10,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $5,411 |
John S And Florence G Lawrence Foundation Inc New York, NY PURPOSE: GENERAL PURPOSES | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Boston Symphony Orchestra Inc Boston, MA | $745,262,219 | $89,872,398 |
Philharmonic-Symphony Society Of New York Inc New York, NY | $534,569,080 | $138,634,882 |
Philadelphia Orchestra Association Philadelphia, PA | $211,538,479 | $41,118,272 |
Pittsburgh Symphony Inc Pittsburgh, PA | $194,466,393 | $30,739,984 |
New Jersey Symphony Orchestra Newark, NJ | $12,634,412 | $12,910,552 |
Buffalo Philharmonic Orchestra Society Inc Buffalo, NY | $15,185,404 | $13,394,584 |
Rochester Philharmonic Orchestra Inc Rochester, NY | $20,757,567 | $7,702,051 |
Cape Arts & Entertainment Inc West Barnstable, MA | $10,466,895 | $5,101,262 |
Orpheus Chamber Orchestra Inc New York, NY | $1,908,737 | $3,345,104 |
Boston Youth Symphony Orchestra Inc Boston, MA | $8,731,148 | $5,999,512 |
Hartford Symphony Orchestra Inc Hartford, CT | $12,831,218 | $4,378,736 |
Musical Associates Of Central New York Inc Syracuse, NY | $3,413,784 | $4,180,183 |