Iris Orchestra Inc
- Assets
- $364.9k
- Revenue
- $883.9k
- Investments
- $0.0
- Employees
- 7
- Location
- Germantown, TN
- Founding
- 03/2007
- Data as of
- 06/2020
- 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 06/2021, Iris Orchestra Inc employed 7 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 06/2020, Iris Orchestra Inc generated $883.9k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $817.6k during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (1.4%) 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
2020
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 |
|---|---|---|---|
Marcia Kaufmann Executive Director | Officer | 40 | $77,721 |
Rick Broer Director/chair | OfficerTrustee | 1 | $0 |
Susan Pfeffer Director/secretary | OfficerTrustee | 1 | $0 |
Nancy Russell Director/treasurer | OfficerTrustee | 1 | $0 |
Brandi Cox Director | Trustee | 1 | $0 |
Sarah Mcbride Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $706,599 |
| Investment income | $772 |
| 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 | $115 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $883,913 |
| 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. | $87,882 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $144,160 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | -$494 |
| Payroll taxes | $17,121 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,811 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,200 |
| Advertising and promotion | $45,511 |
| Office expenses | $1,772 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $4,482 |
| All other expenses | $0 |
| Total functional expenses | $817,582 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $211,119 |
| Savings and temporary cash investments | $100,859 |
| Pledges and grants receivable | $50,000 |
| 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 | $1,800 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,100 |
| Total assets | $364,878 |
| Accounts payable and accrued expenses | $7,625 |
| Grants payable | $0 |
| Deferred revenue | $89,810 |
| 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 | $132,985 |
| 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 | $231,893 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Iris Orchestra Inc has recieved totaling $140,736.
| Awarding Organization | Amount |
|---|---|
Formanek Foundation Memphis, TN PURPOSE: TO SUPPORT AND PROMOTE THE ARTS IN THE MID-SOUTH | $75,000 |
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $33,951 |
Arts Memphis Memphis, TN PURPOSE: OPERATING SUPPORT & RECOVERY | $26,500 |
Goldsmith Foundation Incorporated Memphis, TN PURPOSE: ANNUAL SUPPORT | $5,000 |
Reginald Wurzburg Foundation Orlando, FL PURPOSE: GENERAL OPERATING | $250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $35 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Saint Louis Symphony Orchestra St Louis, MO | $77,659,859 | $61,304,520 |
Kansas City Symphony Kansas City, MO | $64,822,369 | $17,397,853 |
North Carolina Symphony Society Inc Raleigh, NC | $32,524,457 | $22,246,893 |
Charlotte Symphony Orchestra Society Inc Charlotte, NC | $18,656,267 | $14,331,249 |
Saint Louis Symphony Endowment Trust Saint Louis, MO | $280,111,729 | $18,922,089 |
Nashville Symphony Association Nashville, TN | $100,031,908 | $12,366,678 |
The Louisville Orchestra Inc Louisville, KY | $7,756,568 | $11,516,592 |
Virginia Symphony Orchestra Norfolk, VA | $5,267,903 | $8,191,490 |
Richmond Symphony Richmond, VA | $2,392,826 | $8,372,945 |
Knoxville Symphony Society Inc Knoxville, TN | $1,484,079 | $3,960,669 |
Memphis Symphony Orchestra Inc Memphis, TN | $6,274,797 | $4,582,397 |
Alabama Symphonic Association Inc Birmingham, AL | $2,772,905 | $5,743,069 |