Indianapolis Chamber Orchestra Inc
- Assets
- $3.3m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 41
- Location
- Indianapolis, IN
- Founding
- 07/1985
- Data as of
- 06/2022
- EIN
- 31-1132072
Organization Overview
Indianapolis Chamber Orchestra Inc is located in Indianapolis, IN. The organization was established in 1985. 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, Indianapolis Chamber Orchestra Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indianapolis Chamber Orchestra 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, Indianapolis Chamber Orchestra Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $875.2k during the year ending 06/2022. While expenses have increased by 1.5% 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
ADVANCE AND PROMOTE MUSIC COMPOSED FOR SMALL ORCHESTRAS THROUGH PERFORMANCES AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM 1: THE ICO ANNUALLY PRESENTS A SEVEN-CONCERT SERIES DRAWING ON A BODY OF MUSICAL LITERATURE SPANNING FOUR CENTURIES, ALL OF WHICH ARE SCORED FOR THE SMALL ORCHESTRA. THE ICO FEATURES INTERNATIONALLY-RECOGNIZED GUEST ARTISTS AS WELL AS SUPERIOR LOCAL TALENT, PRESENTS ASPIRING YOUNG SOLOISTS, AND SHOW CASES THE TALENTS OF CONTEMPORARY COMPOSERS. THE ICO HAS COMMISSIONED SEVERAL NEW WORKS AND PERFORMED A NUMBER OF PREMIERES DURING ITS 38-YEAR HISTORY. THE ICO RADIO BROADCAST FEATURES EXCERPTS FROM CONCERTS AND AIRS WEEKLY ON WFTY FM 30.
ICO ACCOMPANIES MANY LOCAL ARTS AND EDUCATIONAL ORGANIZATIONS, INCLUDING THE INDIANAPOLIS SYMPHONIC CHOIR AND AMERICAN PIANISTS ASSOCIATION FOR THE 16TH CONSECUTIVE YEAR. THE ICO SERVED AS ORCHESTRA-IN-RESIDENCE FOR THE INDIANA STATE UNIVERSITY CONTEMPORARY MUSIC FESTIVAL. THROUGH ITS AFFILIATION WITH THIS THREE-DAY IMMERSIVE EDUCATIONAL EVENT, THE ICO SPONSORS A NATIONWIDE COMPETITION FOR THE COMPOSITION OF NEW WORKS FOR CHAMBER ORCHESTRAS.
THE ICO OFFERS A FULL-RANGE OF EDUCATIONAL PROGRAMS FOR AGES PRE- KINDERGARTEN THROUGH ADULT. TWO MAJOR IN-SCHOOL EDUCATION INITIATIVES ARE THE FANTASTIC CLASSICS TARGETED TO ELEMENTARY STUDENTS, AND THE ICO RESIDENCIES DESIGNED FOR HIGH SCHOOL ORCHESTRA PROGRAMS. CONCERT CONNECTIONS BRINGS STUDENTS INTO THE CONCERT VENUE TO EXPERIENCE LIVE CONCERTS. CHAMBER CHAT PRE-CONCERT COMMENTARIES ARE OPEN TO ALL PATRONS. THE ICO ALSO CONTINUES ITS OUTREACH EFFORTS WITH TWO FAMILY-FRIENDLY PARKS CONCERTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcus Veatch President | OfficerTrustee | 3.5 | $0 |
Scott Krapf VP Marketing | OfficerTrustee | 3.5 | $0 |
Jim Turner VP Board Development | OfficerTrustee | 3.5 | $0 |
Barb Chirgwin Secretary | OfficerTrustee | 3.5 | $0 |
Bart Brown Treasurer | OfficerTrustee | 3.5 | $0 |
Caitie Stewart VP Financial Development | OfficerTrustee | 3.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $46,414 |
| Related organizations | $0 |
| Government grants | $336,495 |
| All other contributions, gifts, grants, and similar amounts not included above | $373,041 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $755,950 |
| Total Program Service Revenue | $159,387 |
| Investment income | $46,345 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $109,294 |
| Net Income from Fundraising Events | -$17,944 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,055,259 |
| 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. | $73,505 |
| Compensation of current officers, directors, key employees. | $11,301 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $467,123 |
| Pension plan accruals and contributions | $3,921 |
| Other employee benefits | $13,882 |
| Payroll taxes | $23,941 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,953 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,767 |
| Fees for services: Other | $0 |
| Advertising and promotion | $58,489 |
| Office expenses | $5,699 |
| Information technology | $8,017 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $25,452 |
| 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 | $1,292 |
| Insurance | $7,768 |
| All other expenses | $0 |
| Total functional expenses | $875,183 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,693 |
| Savings and temporary cash investments | $4,600 |
| Pledges and grants receivable | $82,396 |
| Accounts receivable, net | $664 |
| 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 | $6,759 |
| Net Land, buildings, and equipment | $15,015 |
| Investments—publicly traded securities | $1,050,908 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,969,052 |
| Total assets | $3,320,087 |
| Accounts payable and accrued expenses | $28,342 |
| Grants payable | $0 |
| Deferred revenue | $4,935 |
| 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 | $33,277 |
| Net assets without donor restrictions | $456,954 |
| Net assets with donor restrictions | $2,829,856 |
| 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 | $3,320,087 |