Northern Kentucky Symphony Inc
- Assets
- $797.2k
- Revenue
- $573.3k
- Investments
- $0.0
- Employees
- 5
- Location
- Newport, KY
- Founding
- 05/1987
- Data as of
- 06/2021
- EIN
- 31-1190635
Organization Overview
Northern Kentucky Symphony Inc, operating under the name Kentucky Symphony Orchestra, is located in Newport, KY. The organization was established in 1987. 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 06/2021, Kentucky Symphony Orchestra employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Symphony Orchestra 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 06/2021, Kentucky Symphony Orchestra generated $573.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $471.1k during the year ending 06/2021. While expenses have increased by 0.4% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CULTURALLY ENRICH, EDUCATE AND ENTERTAIN RESIDENTS OF NORTHERN KENTUCKY AND GREATER CINCINNATI THROUGH UNIQUE AND INNOVATIVE PERFORMANCES DESIGNED TO MAKE SYMPHONIC MUSIC ATTRACTIVE, ASSESSIBLE AND AFFORDABLE, REACHING NEARLY 20,150 PEOPLE THIS YEAR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KSO SUMMER PARK SERIES INCLUDES THREE FREE OUTDOOR PROGRAMS FROM JULY THROUGH SEPTEMBER. THESE CASUAL CONCERTS WELCOME FAMILIES AND INDIVIDUALS OF ALL SOCIO-ECONOMIC BACKGROUNDS. ADMISSION AND PARKING ARE FREE. NORMALLY HELD IN THE PICTURESQUE AND RELAXED SETTING OF COVINGTON, KYS DEVOU PARK, THE 2020 SUMMER CONCERTS WERE RE-LOCATED TO TOWER PARK IN FORT THOMAS, KY, WHICH ALLOWED FOR SOCIAL DISTANCING AND ADHERENCE TO COVID-19 GUIDELINES. SENIORS WERE INVITED TO ATTEND EACH MORNING DRESS REHEARSAL. THREE 2020 SUMMER CONCERTS REACHED 13,450 AREA RESIDENTS IN-PERSON AND VIRTUALLY.
THE SUBSCRIPTION SERIES CONCERTS SPANNED OCTOBER THROUGH MAY, AND FEATURED FIVE ATTRACTIVE, ACCESSIBLE AND AFFORDABLE SYMPHONIC PROGRAMS OFFERED IN VENUES THROUGHOUT NORTHERN KENTUCKY AND SOUTHWEST OHIO. THIS SEASON, DUE TO COVID RESTRICTIONS, THE KSO PERFORMED IN NON-CONVENTIONAL SPACES, VERST GROUP LOGISTICS WAREHOUSE, HEBRON, KY, NEWPORT CAR BARN, NEWPORT KY AND ST. PETER IN CHAINS CATHEDRAL IN CINCINNATI, OH. IN ORDER TO ACCOMMODATE A LIVE AND VIRTUAL AUDIENCE OF 2,460 PEOPLE. THESE CONCERTS WERE THE SOLE SOURCE OF EARNED TICKET REVENUE (PRICES RANGING FROM $15 - $35). SUBSCRIPTION SERIES CONCERTS SHOWCASE THE ORCHESTRA'S MOST MUSICALLY CHALLENGING AND AESTHETICALLY CREATIVE PERFORMANCES, AND REMAINS THE BASIS FOR PROGRAM STRUCTURE, ARTISTIC DEVELOPMENT, AND MUSICAL GROWTH. WITHOUT THE SUBSCRIPTION SERIES, THE EDUCATION SERIES AND SUMMER PARK SERIES WOULD NOT BE POSSIBLE.
THE FREE EDUCATION OUTREACH SERIES RUNS FROM OCTOBER THROUGH APRIL. THE KSOS COMPREHENSIVE EDUCATION EFFORTS, REACHED 3,840 NORTHERN KENTUCKY AND GREATER CINCINNATI STUDENTS/TEACHERS, GRADES 3-12 FROM 15 COUNTIES AND 72 SCHOOLS THIS SEASON. 65% OF PARTICIPANTS WERE CONSIDERED ECONOMICALLY DISADVANTAGED. THESE FREE PROGRAMS INTRODUCE AND SHOWCASE CLASSICAL MUSIC AND ITS DERIVATIVES AND HELP FILL A GAP LEFT IN MANY SCHOOLS CURRICULUMS. FOR OVER 26 YEARS THIS SERIES HAS CONSISTENTLY PROVIDED TEACHERS WITH KID-CENTERED, ENGAGING PROGRAMS THEY NEED TO HELP THEIR STUDENT SUCCEED.
THE KSO OFFERS SMALLER GENRE-SPECIFIC SUBSIDIARY GROUPS, WHICH TRAVEL AND PERFORM IN VARIOUS LOCATIONS. OFFERING A VARIETY OF MUSICAL STYLES KSO SUBSIDIARY GROUPS PERFORM RUN-OUT CONCERTS AND/OR SPECIAL EVENTS THROUGHOUT THE TRI-STATE, REACHING 400 PEOPLE LAST SEASON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jr Cassidy Ex Dir (ex-Offico) | Officer | 65 | $77,668 |
Jill Kruetzkamp Vice President | OfficerTrustee | 1 | $0 |
Paula Steiner President | OfficerTrustee | 1 | $0 |
Courtney Mchale Secretary | OfficerTrustee | 1 | $0 |
Cathy Stickels Director | Trustee | 0.5 | $0 |
Dr Eppechal Smalls Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $47,317 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $78,185 |
| All other contributions, gifts, grants, and similar amounts not included above | $343,845 |
| Noncash contributions included in lines 1a–1f | $108 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $469,347 |
| Total Program Service Revenue | $39,943 |
| Investment income | $2,705 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $59,949 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $573,297 |
| 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. | $107,667 |
| Compensation of current officers, directors, key employees. | $5,383 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $83,748 |
| Pension plan accruals and contributions | $55,000 |
| Other employee benefits | $35,981 |
| Payroll taxes | $10,819 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $79,700 |
| Advertising and promotion | $7,725 |
| Office expenses | $1,315 |
| Information technology | $609 |
| Royalties | $0 |
| Occupancy | $23,335 |
| Travel | $8,212 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $372 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,338 |
| Insurance | $2,831 |
| All other expenses | $0 |
| Total functional expenses | $471,076 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $227,666 |
| Savings and temporary cash investments | $390,981 |
| Pledges and grants receivable | $98,778 |
| 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 | $1,517 |
| Net Land, buildings, and equipment | $2,127 |
| Investments—publicly traded securities | $76,154 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $797,223 |
| Accounts payable and accrued expenses | $140,435 |
| 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 | $39,257 |
| Total liabilities | $179,692 |
| Net assets without donor restrictions | $440,029 |
| Net assets with donor restrictions | $177,502 |
| 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 | $797,223 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Northern Kentucky Symphony Inc has recieved totaling $24,234.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $13,146 |
Wohlgemuth Herschede Foundation Rolling Meadows, IL PURPOSE: PROGRAM SUPPORT | $5,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $3,500 |
Snowy Owl Foundation Louisville, KY PURPOSE: FREE FAMILYU-FRIENDLY SUMMER SERIES OF CONCERTS | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $88 |
Endowment Analysis
| Beg. Balance | $25,000 |
| Earnings | $3 |
| Other Expense | $3 |
| Ending Balance | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Musical Arts Association Cleveland, OH | $284,635,926 | $54,210,898 |
Chicago Symphony Orchestra Chicago, IL | $576,700,123 | $109,905,535 |
Cincinnati Symphony Orchestra Cincinnati, OH | $298,354,425 | $55,153,223 |
Saint Louis Symphony Orchestra St Louis, MO | $77,659,859 | $61,304,520 |
Kansas City Symphony Kansas City, MO | $64,822,369 | $17,397,853 |
Saint Louis Symphony Endowment Trust Saint Louis, MO | $280,111,729 | $18,922,089 |
Nashville Symphony Association Nashville, TN | $100,031,908 | $12,366,678 |
Indiana Symphony Society Inc Indianapolis, IN | $13,063,766 | $26,550,940 |
The Louisville Orchestra Inc Louisville, KY | $7,756,568 | $11,516,592 |
Virginia Symphony Orchestra Norfolk, VA | $5,267,903 | $8,191,490 |
Richmond Symphony Richmond, VA | $2,392,826 | $8,372,945 |
Columbus Symphony Orchestra Inc Columbus, OH | $23,849,025 | $7,378,126 |