Salisbury Symphony Inc
- Assets
- $773.0k
- Revenue
- $376.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Salisbury, NC
- Founding
- 05/1974
- Data as of
- 06/2023
- EIN
- 23-7366640
Organization Overview
Salisbury Symphony Inc is located in Salisbury, NC. The organization was established in 1974. 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 06/2023, Salisbury Symphony Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salisbury Symphony 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 06/2023, Salisbury Symphony Inc generated $376.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (14.5%) each year. All expenses for the organization totaled $502.8k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE, ENTERTAIN, INSPIRE, ENGAGE AND ENRICH OUR COMMUNITY AND SURROUNDING AREASTHROUGH ORCHESTRAL MUSIC, MUSICAL PERFORMANCES AND MUSIC EDUCATION OF THE HIGHESTQUALITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SYMPHONY ORCHESTRA CONCERTS, OTHER COMMUNITY EVENTS AND MUSICEDUCATION FOR SCHOOL CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hunter Safrit Executive Director | OfficerTrustee | 40 | $40,000 |
Ben Jones Director | Trustee | 0 | $0 |
Jason Keith Director | Trustee | 0 | $0 |
Ricky Howsare Director | Trustee | 0 | $0 |
Mark Stephenson Director | Trustee | 0 | $0 |
Dottie Hoy Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,313 |
| All other contributions, gifts, grants, and similar amounts not included above | $172,148 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $212,461 |
| Total Program Service Revenue | $134,720 |
| Investment income | $13,606 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $15,294 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $376,081 |
| 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. | $40,000 |
| Compensation of current officers, directors, key employees. | $10,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $39,149 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,092 |
| Payroll taxes | $7,096 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,734 |
| Fees for services: Other | $225,602 |
| Advertising and promotion | $14,383 |
| Office expenses | $5,657 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,246 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $555 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,433 |
| All other expenses | $5,368 |
| Total functional expenses | $502,786 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,007 |
| Savings and temporary cash investments | $768,356 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,708 |
| 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 | $1,950 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $773,021 |
| Accounts payable and accrued expenses | -$5,458 |
| Grants payable | $0 |
| Deferred revenue | $2,500 |
| 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 | -$2,958 |
| Net assets without donor restrictions | -$91,857 |
| Net assets with donor restrictions | $867,836 |
| 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 | $773,021 |