Iris Orchestra Inc
- Assets
- $485.1k
- Revenue
- $597.9k
- Investments
- $0.0
- Employees
- 6
- Location
- Germantown, TN
- Founding
- 03/2007
- Data as of
- 06/2021
- EIN
- 20-4091251
Organization Overview
Iris Orchestra Inc is located in Germantown, TN. The organization was established in 2007. 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 06/2024, Iris Orchestra Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iris Orchestra 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, Iris Orchestra Inc generated $597.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $577.5k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (6.0%) per year over the past 7 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
ESTABLISH & MAINTAIN FOR THE COMMUNITY BOTH ARTS & EDUCATION RELATED TO THE HIGHEST QUALITY OF MUSIC EXCELLENCE; PERFORM WIDELY DIVERSE PROGRAMS; PROMOTE THE ARTS AND MUSIC; BUILD AWARENESS OF THE UNIQUENESS OF THE IRIS ORCHESTRA AND SECURE FUNDING TO SUPPORT THE ORCHESTRA AND ACCESS TO IT BY THE COMMUNITY; SUPPORT NEW MUSIC; PRESERVE TRADITION OF EXCELLENCE IN IRIS PERFORMANCES; EXPAND OPPORTUNITIES TO SHOWCASE THE IRIS ORCHESTRA; AND PROVIDE OPPORTUNITIES FOR EDUCATIONAL PROGRAMS & ENHANCE CLASSICAL MUSIC APPRECIATION IN ALL VENTURES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESTABLISHED AND MAINTAINED FOR THE COMMUNITY BOTH ARTS & EDUCATION RELATED TO THE HIGHEST QUALITY OF MUSIC EXCELLENCE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rebecca Arendt Executive Director | Officer | 40 | $80,000 |
Dr James Bo Adams Chair | OfficerTrustee | 1 | $0 |
Michael Peeler Treasurer | OfficerTrustee | 1 | $0 |
Meryl Rosen Secretary | OfficerTrustee | 1 | $0 |
Dave Depeters Director | Trustee | 1 | $0 |
Mariko Krause Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $488,508 |
| Investment income | $90 |
| 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 | $597,859 |
| Statement of Expenses | |
|---|---|
| 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. | $87,159 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $124,661 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,546 |
| Payroll taxes | $15,564 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,493 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,540 |
| Advertising and promotion | $25,862 |
| Office expenses | $3,710 |
| Information technology | $3,784 |
| Royalties | $0 |
| Occupancy | $13,200 |
| 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 | $4,776 |
| All other expenses | $0 |
| Total functional expenses | $577,537 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $269,437 |
| Savings and temporary cash investments | $199,963 |
| Pledges and grants receivable | $0 |
| 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 | $14,600 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,100 |
| Total assets | $485,100 |
| Accounts payable and accrued expenses | $6,295 |
| Grants payable | $0 |
| Deferred revenue | $191,040 |
| 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 | $35,550 |
| Other liabilities | $0 |
| Total liabilities | $232,885 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $252,215 |