Mankato Symphony Orchestra Association Inc
- Assets
- $638.8k
- Revenue
- $425.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Mankato, MN
- Founding
- 05/1976
- Data as of
- 06/2022
- EIN
- 23-7319396
Organization Overview
Mankato Symphony Orchestra Association Inc is located in Mankato, MN. The organization was established in 1976. 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, Mankato Symphony Orchestra Association Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mankato Symphony Orchestra Association 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, Mankato Symphony Orchestra Association Inc generated $425.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $258.1k during the year ending 06/2022. 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 OFFER EXCITING, HIGH QUALITY MUSICAL EVENTS AND MUSICAL EDUCATION FOR SOUTH CENTRAL MINNESOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION PRESENTED SYMPHONY CONCERTS FOR THE GENERAL PUBLIC, CONDUCTED SYMPHONY PRACTICES AND CONCERTS, AND PROVIDED MUSICAL EDUCATION AND PERFORMANCE OPPORTUNITIES FOR MUSICIANS AND THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bethel Balge Executive Director | Officer | 40 | $61,000 |
Sarah Houle Director | Trustee | 1.5 | $420 |
Benjamin Findley President | OfficerTrustee | 8 | $0 |
Christopher Paul Vice President | OfficerTrustee | 4 | $0 |
Viktoria Davis Secretary | OfficerTrustee | 4 | $0 |
David Knopick Treasurer | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $76,483 |
| All other contributions, gifts, grants, and similar amounts not included above | $211,070 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $287,553 |
| Total Program Service Revenue | $32,163 |
| Investment income | $10,616 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $95,520 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $425,852 |
| 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. | $61,387 |
| Compensation of current officers, directors, key employees. | $61,387 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,738 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,640 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,213 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,457 |
| Fees for services: Other | $99,709 |
| Advertising and promotion | $6,168 |
| Office expenses | $2,277 |
| Information technology | $0 |
| Royalties | $2,093 |
| Occupancy | $1,200 |
| 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 | $1,504 |
| Insurance | $1,484 |
| All other expenses | $9,028 |
| Total functional expenses | $258,099 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,605 |
| Savings and temporary cash investments | $8,379 |
| Pledges and grants receivable | $62,205 |
| 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 | $150 |
| Net Land, buildings, and equipment | $3,534 |
| Investments—publicly traded securities | $471,904 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $638,777 |
| Accounts payable and accrued expenses | $6,094 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,094 |
| Net assets without donor restrictions | $519,153 |
| Net assets with donor restrictions | $113,530 |
| 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 | $638,777 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mankato Symphony Orchestra Association Inc has recieved totaling $38,500.
| Awarding Organization | Amount |
|---|---|
Mankato Area Foundation Mankato, MN PURPOSE: Program assistance. | $30,500 |
Prairie Lakes Regional Arts Council Inc Waseca, MN PURPOSE: ACH-A | $8,000 |
Endowment Analysis
| Beg. Balance | $48,050 |
| Ending Balance | $48,050 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minnesota Orchestral Association Minneapolis, MN | $187,473,763 | $23,588,719 |
Milwaukee Symphony Orchestra Inc Milwaukee, WI | $122,941,209 | $33,243,126 |
Saint Paul Chamber Orchestra Society St Paul, MN | $57,703,244 | $22,202,532 |
Madison Symphony Orchestra Inc Madison, WI | $6,807,074 | $3,792,114 |
Des Moines Symphony Association Des Moines, IA | $12,208,795 | $2,653,432 |
Milwaukee Youth Symphony Orchestra Inc Milwaukee, WI | $9,958,210 | $2,491,222 |
South Dakota Symphony Orchestra Sioux Falls, SD | $2,471,738 | $2,231,218 |
Quad City Symphony Orchestra Association Davenport, IA | $1,491,842 | $2,535,869 |
Wisconsin Chamber Orchestra Inc Madison, WI | $6,414,052 | $3,173,196 |
Orchestra Iowa Inc Cedar Rapids, IA | $6,413,175 | $1,876,177 |
Greater Twin Cities Youth Symphonies St Paul, MN | $1,493,786 | $1,297,904 |
Dubuque Symphony Orchestra Dubuque, IA | $3,373,289 | $1,369,482 |