Salisbury Symphony Inc
- Assets
- $929.0k
- Revenue
- $205.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Salisbury, NC
- Founding
- 05/1974
- Data as of
- 06/2022
- 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 06/2022, 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 06/2022, Salisbury Symphony Inc generated $205.6k 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 (8.8%) each year. All expenses for the organization totaled $367.0k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE, ENTERTAIN, INSPIRE, ENGAGE AND ENRICH OUR COMMUNITY THROUGH ORCHESTRAL MUSIC AND OTHER MUSICAL PERFORMANCES OF THE HIGHEST QUALITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATED, ENTERTAINED, INSPIRED, ENCOURAGED AND ENRICHED THE COMMUNITY THROUGH ORCHESTRAL MUSIC AND OTHER MUSICAL PERFORMANCES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hunter Safrit Executive Di | OfficerTrustee | 40 | $40,000 |
Stephanie Potter Chair | OfficerTrustee | 0 | $0 |
Jean Wurster Vice Preside | OfficerTrustee | 0 | $0 |
Jerry Cochran Treasurer | OfficerTrustee | 0 | $0 |
Mark Bias Secretary | OfficerTrustee | 0 | $0 |
Tripp Clement Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $41,591 |
| All other contributions, gifts, grants, and similar amounts not included above | $126,079 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $167,670 |
| Total Program Service Revenue | $120,036 |
| Investment income | -$79,313 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$2,840 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $205,553 |
| 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 | $25,200 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,980 |
| Payroll taxes | $6,310 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,426 |
| Fees for services: Other | $171,284 |
| Advertising and promotion | $13,982 |
| Office expenses | $4,430 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,465 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $503 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,582 |
| All other expenses | $869 |
| Total functional expenses | $367,007 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,218 |
| Savings and temporary cash investments | $867,836 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $568 |
| 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 | $2,354 |
| 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 | $928,976 |
| Accounts payable and accrued expenses | $6,057 |
| Grants payable | $0 |
| Deferred revenue | $20,236 |
| 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 | $26,293 |
| Net assets without donor restrictions | -$128,533 |
| Net assets with donor restrictions | $1,031,216 |
| 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 | $928,976 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Salisbury Symphony Inc has recieved totaling $19,005.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $16,000 |
Margaret C Woodson Foundation Incorporated Charlotte, NC PURPOSE: NC SYMPHONY EDUCATION CONCERT 2021-2022 SEASON | $3,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Nashville Symphony Association Nashville, TN | $100,031,908 | $12,366,678 |
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 |
Greensboro Symphony Orchestra Incorporated Greensboro, NC | $1,104,196 | $3,569,093 |
Winston Salem Symphony Assoc Winstonsalem, NC | $6,175,789 | $3,471,563 |
Charleston Symphony Orchestra Charleston, SC | $3,900,208 | $3,884,009 |
Augusta Symphony Inc Augusta, GA | $19,725,932 | $3,708,047 |
Greenville Symphony Association Greenville, SC | $3,125,608 | $3,582,952 |