Fairbanks Symphony Assoc Inc
- Assets
- $2.1m
- Revenue
- $378.0k
- Investments
- $0.0
- Employees
- 10
- Location
- Fairbanks, AK
- Founding
- 12/1972
- Data as of
- 06/2022
- EIN
- 23-7212781
Organization Overview
Fairbanks Symphony Assoc Inc is located in Fairbanks, AK. The organization was established in 1972. 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, Fairbanks Symphony Assoc Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairbanks Symphony Assoc 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 06/2022, Fairbanks Symphony Assoc Inc generated $378.0k 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 (4.6%) each year. All expenses for the organization totaled $331.2k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE MUSICAL ARTS IN FAIRBANKS AND THROUGHOUT ALASKA BY PERFORMING SYMPHONIC MUSIC OF THE HIGHEST CALIBER AND BY OFFERING EDUCATIONAL PROGRAMS FOR INDIVIDUALS OF ALL AGES DESIGNED TO TRAIN NEW MUSICIANS, CULTIVATE MUSICAL KNOWLEDGE AND FOSTER INDIVIDUAL DEVELOPMENT AND MUSIC APPRECIATION.
Describe the Organization's Program Activity:
CONCERT PRODUCTION - THE ALL-VOLUNTEER COMMUNITY ORCHESTRA PRESENTS EIGHT CONCERTS ANNUALLY. ONE CONCERT FEATURE WINNERS OF THE ANNUAL CONCERTO COMPETITION (SEE EDUCATIONAL PROJECTS), ONE HOLIDAY CONCERT, AND ONE HALLOWEEN CONCERT. ALL CONCERTS ARE PERFORMED WITH THE ORCHESTRA.
EDUCATION PROJECTS - THE ORGANIZATION PROVIDES EDUCATIONAL OPPORTUNITIES THROUGHOUT THE YEAR THROUGH THE ANNUAL CONCERTO COMPETITION, CHILDREN'S CONCERT (ELEMENTARY AND JUNIOR HIGH STUDENTS ARE BUSED TO THE CONCERT HALL TO HEAR A SYMPHONY PERFORMANCE SPECIFICALLY DESIGNED FOR THEM), THE FAIRBANKS SUZUKI INSTITUTE (A WEEKLONG WORKSHOP FOR MUSICIANS AND TEACHERS STUDYING THE SUZUKI METHOD), FAIRBANKS YOUTH ORCHESTRA, NORTH STAR STRINGS, AND KIDS2CONCERTS (PROVIDING CONCERT TICKETS FOR STUDENTS TO ATTEND SYMPHONY CONCERTS).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chuck Lemke President | OfficerTrustee | 6.93 | $0 |
Anton K Johnsen Vice President | OfficerTrustee | 0.75 | $0 |
Patty Mongold Treasurer | OfficerTrustee | 0.75 | $0 |
Katie Yarrow Secretary | OfficerTrustee | 0.38 | $0 |
Anna Zilberkant Director | Trustee | 1.25 | $0 |
Daniel Strawser Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $390 |
| Membership dues | $12,600 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $81,654 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $94,644 |
| Total Program Service Revenue | $167,068 |
| Investment income | $101,525 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $14,713 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $377,950 |
| 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. | $64,712 |
| Compensation of current officers, directors, key employees. | $64,712 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,286 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,803 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,356 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $192 |
| Fees for services: Other | $48,504 |
| Advertising and promotion | $28,452 |
| Office expenses | $41,403 |
| Information technology | $100 |
| Royalties | $0 |
| Occupancy | $17,703 |
| Travel | $12,522 |
| 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 | $14,325 |
| Insurance | $7,667 |
| All other expenses | $591 |
| Total functional expenses | $331,197 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,878 |
| Savings and temporary cash investments | $227,352 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,239 |
| 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 | $5,932 |
| Net Land, buildings, and equipment | $35,808 |
| Investments—publicly traded securities | $1,649,179 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,126,388 |
| Accounts payable and accrued expenses | $5,209 |
| Grants payable | $0 |
| Deferred revenue | $29,329 |
| 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 | $18,107 |
| Total liabilities | $52,645 |
| Net assets without donor restrictions | $663,668 |
| Net assets with donor restrictions | $1,410,075 |
| 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 | $2,126,388 |