Reading Symphony Orchestra Assn
- Assets
- $2.1m
- Revenue
- $1.8m
- Investments
- $538.7k
- Employees
- 216
- Location
- Reading, PA
- Founding
- 09/1943
- Data as of
- 06/2022
- EIN
- 23-1741046
Organization Overview
Reading Symphony Orchestra Assn is located in Reading, PA. The organization was established in 1943. 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, Reading Symphony Orchestra Assn employed 216 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reading Symphony Orchestra Assn 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, Reading Symphony Orchestra Assn generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $1.6m during the year ending 06/2022. While expenses have increased by 3.8% per year over the past 7 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
TO PROVIDE AND PROMOTE HIGH-QUALITY SYMPHONIC MUSIC TO CITIZENS OF READING AND BERKS COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORCHESTRA PERFORMANCES:THE READING SYMPHONY ORCHESTRA IS ONE OF THE OLDEST, CONTINUOUSLY OPERATING ORCHESTRAS IN THE UNITED STATES. THE ORCHESTRA HAS EVOLVED FROM AN ORGANIZATION WHOSE MISSION WAS LIMITED TO PERFORMING CLASSICAL MUSIC FOR PEOPLE IN THE READING AREA, TO ONE THAT HAS BECOME FULLY INTEGRATED INTO THE FABRIC OF THE COMMUNITY. SEE CONTINUATION ON SCHEDULE O.EACH SEASON THERE ARE NON-SUBSCRIPTION CONCERTS, INCLUDING A NEW YEARS EVE AND POPS CONCERT AND A FREE CONCERT FOR THE GREATER BERKS COUNTY AREA. APPROXIMATELY 20,000 PEOPLE FROM ALL WALKS OF LIFE ATTENDED PERFORMANCES BY THE ORCHESTRA DURING THE YEAR.THE READING SYMPHONY ORCHESTRA RETURNED TO REGULAR PROGRAMMING AFTER THE PANDEMIC. PROGRAMMING INCLUDED PRESENTING THE JULY 4TH CONCERT ATTENDED BY MORE THAN 6,500 PEOPLE.
ORCHESTRA EDUCATION:ORCHESTRA EDUCATION EXTENDS TO SCHOOL-DAY CONCERTS FOR THOUSANDS OF LOCAL STUDENTS. SEE CONTINUATION ON SCHEDULE O.THE READING SYMPHONY'S ORCHESTRA ZONE PROGRAM IS ALSO SEEKING TO IMPROVE THE SUCCESS OF THE MUSIC PROGRAM IN THE READING SCHOOL DISTRICT BY HELPING THEM TO RETAIN INSTRUMENTAL STUDENTS AS THEY LEAVE 5TH GRADE AND PROGRESS ON THROUGH HIGH SCHOOL. THE AIM IS TO GIVE THESE STUDENTS THE ADVANTAGES OF YEAR-ROUND PRIVATE MUSIC LESSONS, THUS AFFORDING THE ABILITY TO EXCEL NOT ONLY IN THEIR MUSIC STUDIES, BUT ALSO ACADEMIC PERFORMANCE ACROSS THE BOARD, NOT TO MENTION FOSTERING SELF-ESTEEM AND ACHIEVEMENT. THE READING SYMPHONY YOUTH ORCHESTRAS PERFORM AT LEAST TWICE ON THEIR OWN EACH SEASON, AND PERFORM ON THE STAGE DURING THE FULL SYMPHONY SUBSCRIPTION CONCERTS THREE TIMES PER YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Gross Executive Director | Officer | 40 | $104,334 |
Andrew Constantine Music Director | 40 | $101,485 | |
Michael Duff ESQ President | OfficerTrustee | 2 | $0 |
Amy Kreider First Vice President | OfficerTrustee | 2 | $0 |
Kevin Deacosta Second Vice President | OfficerTrustee | 2 | $0 |
Fred Opalinski Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $166,036 |
| Related organizations | $0 |
| Government grants | $295,118 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,004,374 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,465,528 |
| Total Program Service Revenue | $370,204 |
| Investment income | $18,429 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,121 |
| Net Income from Fundraising Events | -$80,261 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,809,021 |
| 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. | $107,906 |
| Compensation of current officers, directors, key employees. | $32,372 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $597,768 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,195 |
| Payroll taxes | $60,985 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,961 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,691 |
| Fees for services: Other | $121,745 |
| Advertising and promotion | $99,150 |
| Office expenses | $19,740 |
| Information technology | $0 |
| Royalties | $2,997 |
| Occupancy | $42,400 |
| 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 | $474 |
| Insurance | $11,383 |
| All other expenses | $0 |
| Total functional expenses | $1,624,416 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,016 |
| Savings and temporary cash investments | $219,201 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $330,127 |
| 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 | $37,093 |
| Net Land, buildings, and equipment | $15,500 |
| Investments—publicly traded securities | $877,126 |
| Investments—other securities | $538,681 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,131,744 |
| Accounts payable and accrued expenses | $92,951 |
| Grants payable | $0 |
| Deferred revenue | $163,166 |
| 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 | $256,117 |
| Net assets without donor restrictions | $934,280 |
| Net assets with donor restrictions | $941,347 |
| 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 | $2,131,744 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Reading Symphony Orchestra Assn has recieved totaling $403,058.
| Awarding Organization | Amount |
|---|---|
Reading Musical Foundation Reading, PA PURPOSE: RESTRICTED GRANT FOR CONCERT AND OUTREACH EXPENSES | $119,107 |
Presser Foundation Philadelphia, PA PURPOSE: CAPITAL SUPPORT | $75,000 |
Presser Foundation Philadelphia, PA PURPOSE: CAPITAL SUPPORT | $75,000 |
Marlin Miller Jr Family Foundation Reading, PA PURPOSE: ANNUAL FUND | $25,000 |
Wyomissing Foundation Inc Wyomissing, PA PURPOSE: COMMUNITY GRANT - CELEBRATION OF WOMEN IN ARTS | $15,000 |
Katherine H Keiser Trust Buffalo, NY PURPOSE: CHARITABLE | $12,323 |
Endowment Analysis
| Beg. Balance | $602,624 |
| Earnings | -$88,473 |
| Other Expense | $23,691 |
| Ending Balance | $490,460 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baltimore Symphony Orchestra Inc Baltimore, MD | $16,033,795 | $20,177,740 |
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 |
Columbus Symphony Orchestra Inc Columbus, OH | $23,849,025 | $7,378,126 |
Rochester Philharmonic Orchestra Inc Rochester, NY | $20,757,567 | $7,702,051 |
Dayton Performing Arts Alliance Dayton, OH | $10,536,333 | $6,130,805 |
National Philharmonic Orchestra & Chorale Of Mongomery County Inc North Bethesda, MD | $1,849,727 | $2,888,620 |
Orpheus Chamber Orchestra Inc New York, NY | $1,908,737 | $3,345,104 |
Musical Associates Of Central New York Inc Syracuse, NY | $3,413,784 | $4,180,183 |
West Virginia Symphony Orchestra Inc Charleston, WV | $1,691,632 | $2,378,375 |
Harrisburg Symphony Association Harrisburg, PA | $13,261,535 | $3,046,479 |
Allentown Symphony Association Inc Allentown, PA | $15,521,853 | $2,408,487 |