Fort Wayne Philharmonic Orchestra Inc
- Assets
- $27.9m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 194
- Location
- Fort Wayne, IN
- Founding
- 09/1951
- Data as of
- 08/2020
- EIN
- 35-0791163
Organization Overview
Fort Wayne Philharmonic Orchestra Inc is located in Fort Wayne, IN. The organization was established in 1951. 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 08/2021, Fort Wayne Philharmonic Orchestra Inc employed 194 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Wayne Philharmonic 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 08/2020, Fort Wayne Philharmonic Orchestra Inc generated $5.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $5.5m during the year ending 08/2020. While expenses have increased by 3.3% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER AND INSPIRE A LIFELONG LOVE OF CLASSICAL MUSIC THROUGH PERFORMANCE AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FORT WAYNE PHILHARMONIC ORCHESTRA IS A CIVIC NOT-FOR-PROFIT ORGANIZATION. THEIR PRIMARY FUNCTION IS TO PROVIDE MUSICAL ENTERTAINMENT AND EDUCATION FOR THE COMMUNITY. THEIR CONCERT SEASON IS APPROXIMATELY 28 WEEKS LONG. IN FISCAL YEAR 2021, THE SEASON WAS CUT SHORT DUE TO THE COVID-19 PANDEMIC. THE TOTAL INDIVIDUALS SERVED IN THE COMMUNITY WAS SIGNIFICANTLY REDUCED BY THE STAY AT HOME GOVERNMENTAL ORDER. MOST PROGRAMS WERE NOT RESUMED UNTILL THE SUMMER CONCERTS THAT WERE HELD JUNE THROUGH AUGUST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Palermo Managing Director | Officer | 40 | $185,044 |
Andrew Lott Former Board Member/musician | 0 | $16,683 | |
Dennis Fick Board Member And Musician | Trustee | 30 | $15,490 |
Michael Galbraith Board Member And Musician | Trustee | 30 | $14,945 |
Mary Fink Board Treasurer | OfficerTrustee | 1 | $0 |
Sherrill Colvin Board Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,745,522 |
| Investment income | $625,031 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $486,942 |
| Net Income from Fundraising Events | -$3,536 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,947,084 |
| 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. | $188,895 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,368,459 |
| Pension plan accruals and contributions | $101,398 |
| Other employee benefits | $288,709 |
| Payroll taxes | $299,981 |
| Fees for services: Management | $11,737 |
| Fees for services: Legal | $17,671 |
| Fees for services: Accounting | $39,348 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $6,160 |
| Fees for services: Investment Management | $151,597 |
| Fees for services: Other | $636,531 |
| Advertising and promotion | $314,884 |
| Office expenses | $26,296 |
| Information technology | $97,772 |
| Royalties | $18,429 |
| Occupancy | $227,623 |
| Travel | $83,958 |
| 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 | $33,205 |
| Insurance | $41,747 |
| All other expenses | $0 |
| Total functional expenses | $5,466,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $2,669,566 |
| Pledges and grants receivable | $4,311,766 |
| 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 | $223,965 |
| Investments—publicly traded securities | $20,524,205 |
| Investments—other securities | $0 |
| Investments—program-related | $55,194 |
| Intangible assets | $0 |
| Other assets | $56,790 |
| Total assets | $27,926,694 |
| Accounts payable and accrued expenses | $156,137 |
| Grants payable | $0 |
| Deferred revenue | $1,091,127 |
| 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 | $660,000 |
| Total liabilities | $1,907,264 |
| 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 | $26,019,430 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fort Wayne Philharmonic Orchestra Inc has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Tim And Libby Ash Family Foundation Inc Fort Wayne, IN PURPOSE: TO SUPPORT MUSIC APPRECIATION | $2,000 |
Endowment Analysis
| Beg. Balance | $23,255,983 |
| Earnings | $4,753,232 |
| Net Contributions | $9,298 |
| Other Expense | $71,752 |
| Ending Balance | $27,946,761 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kansas City Symphony Kansas City, MO | $64,822,369 | $17,397,853 |
Milwaukee Symphony Orchestra Inc Milwaukee, WI | $122,941,209 | $33,243,126 |
Saint Louis Symphony Endowment Trust Saint Louis, MO | $280,111,729 | $18,922,089 |
Indiana Symphony Society Inc Indianapolis, IN | $13,063,766 | $26,550,940 |
The Louisville Orchestra Inc Louisville, KY | $7,756,568 | $11,516,592 |
Fort Wayne Philharmonic Orchestra Inc Fort Wayne, IN | $27,926,694 | $5,947,084 |
Madison Symphony Orchestra Inc Madison, WI | $6,807,074 | $3,792,114 |
Milwaukee Youth Symphony Orchestra Inc Milwaukee, WI | $9,958,210 | $2,491,222 |
Elgin Symphony Orchestra Assoc Elgin, IL | $718,957 | $2,098,094 |
Wisconsin Chamber Orchestra Inc Madison, WI | $6,414,052 | $3,173,196 |
South Bend Symphony Orchestra Association Inc South Bend, IN | $11,276,810 | $2,188,431 |
Chicago Youth Symphony Orchestras Chicago, IL | $1,118,972 | $1,807,296 |