Youngstown Symphony Society Inc
- Assets
- $10.5m
- Revenue
- $689.1k
- Investments
- $0.0
- Employees
- 176
- Location
- Youngstown, OH
- Founding
- 02/1955
- Data as of
- 06/2021
- EIN
- 34-0639988
Organization Overview
Youngstown Symphony Society Inc is located in Youngstown, OH. The organization was established in 1955. 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, Youngstown Symphony Society Inc employed 176 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Youngstown Symphony Society 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 06/2021, Youngstown Symphony Society Inc generated $689.1k 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 (7.6%) each year. All expenses for the organization totaled $994.5k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (9.1%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CULTURAL DEVELOPMENT & ENTERTAINMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOCIETY PROVIDES THE YOUNGSTOWN AREA WITH CULTURAL DEVELOPMENT & ENTERTAINMENT THROUGH PRODUCTION OF A SERIES OF CONCERTS AS WELL AS THROUGH VARIOUS CHILDREN'S PERFORMANCES AND SPECIAL EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Bondor Director | Trustee | 0.2 | $0 |
Karen Bovard Secretary | OfficerTrustee | 0.2 | $0 |
Phyllis Paul Director | Trustee | 0.2 | $0 |
Jim Dascenzo Director | Trustee | 0.2 | $0 |
Christopher Jaskiewicz Chair | OfficerTrustee | 0.2 | $0 |
Dorothy Tesner Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $170,731 |
| Investment income | $41,152 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $185,640 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $689,117 |
| Statement of Expenses | |
|---|---|
| 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. | $71,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,021 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,522 |
| Payroll taxes | $4,289 |
| Fees for services: Management | $43,500 |
| Fees for services: Legal | $23,396 |
| Fees for services: Accounting | $18,000 |
| Fees for services: Lobbying | $3,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,676 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,271 |
| Office expenses | $4,434 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $357,062 |
| Insurance | $39,363 |
| All other expenses | $0 |
| Total functional expenses | $994,548 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,096 |
| Savings and temporary cash investments | $928,259 |
| Pledges and grants receivable | $38,835 |
| Accounts receivable, net | $43,074 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,604 |
| Prepaid expenses and deferred charges | $14,093 |
| Investments—publicly traded securities | $2,309,825 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,483,212 |
| Accounts payable and accrued expenses | $191,534 |
| Grants payable | $0 |
| Deferred revenue | $43,256 |
| 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 | $500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $564,277 |
| Total liabilities | $1,299,067 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $9,184,145 |