Indiana Symphony Society Inc
- Assets
- $12.8m
- Revenue
- $23.1m
- Investments
- $0.0
- Employees
- 509
- Location
- Indianapolis, IN
- Founding
- 09/1998
- Data as of
- 08/2023
- EIN
- 35-0998627
Organization Overview
Indiana Symphony Society Inc is located in Indianapolis, IN. The organization was established in 1998. 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 08/2023, Indiana Symphony Society Inc employed 509 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Indiana 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 08/2023, Indiana Symphony Society Inc generated $23.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $25.1m during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE, ENTERTAIN, EDUCATE AND CHALLENGE THROUGH INNOVATIVE PROGRAMS AND SYMPHONIC MUSIC PERFORMED AT THE HIGHEST ARTISTIC LEVEL.
Describe the Organization's Program Activity:
THE INDIANAPOLIS SYMPHONY ORCHESTRA IS THE LARGEST PERFORMING ARTS ORGANIZATION IN THE STATE OF INDIANA, PERFORMING A YEAR-ROUND SCHEDULE OF CONCERTS AND EDUCATION PROGRAMS. EACH SEASON, THE INDIANAPOLIS SYMPHONY ORCHESTRA PRESENTS A WIDE REPERTOIRE OF ORCHESTRAL MUSIC, INCLUDING COMMISSIONS OF NEW MUSIC, BOTH CLASSICAL AND POPS. CONCERTS INCLUDE PROGRAMS OF CLASSICAL MUSIC, SYMPHONIC POPS PERFORMANCES, FAMILY ORIENTED PROGRAMS, HOLIDAY PROGRAMS, UNCHARTED, THE OUTDOOR SUMMER SERIES AND MANY MORE. THE INDIANAPOLIS SYMPHONY ORCHESTRA IS DEDICATED TO LEADING THE FIELD IN MUSIC EDUCATION. SYMPHONY MUSICIANS AND STAFF CREATE PIONEERING LEARNING OPPORTUNITIES FOR PARTICIPANTS THROUGHOUT THE STATE THROUGH A VARIETY OF PROJECTS WHICH IMPACT STUDENTS AND ADULTS IN THE INDIANAPOLIS SYMPHONY ORCHESTRA'S LEARNING COMMUNITY. THE METROPOLITAN YOUTH ORCHESTRA WHICH IS A YOUTH AND FAMILY DEVELOPMENT PROGRAM OF THE LEARNING COMMUNITY USES THE LIFE SKILLS LEARNED IN MUSIC INSTRUCTION TO ENGAGE YOUTH IN ACTIVITIES THAT DISCOURAGE AT-RISK BEHAVIORS AND KEEP THEM COMMITTED TO STAYING IN SCHOOL. THE HISTORIC HILBERT CIRCLE THEATRE ON MONUMENT CIRCLE IN DOWNTOWN INDIANAPOLIS IS HOME TO THE INDIANAPOLIS SYMPHONY ORCHESTRA AND IS OWNED BY THE ORANGIZATION'S FOUNDATION. OUTSIDE THE THEATRE, THE INDIANAPOLIS SYMPHONY CAN BE HEARD LIVE IN SEVERAL INDIANA COMMUNITIES. AS A LEADING MEMBER OF THE ARTS COMMUNITY IN INDIANAPOLIS, THE INDIANAPOLIS SYMPHONY ORCHESTRA COLLABORATES ON A REGULAR BASIS WITH OTHER ARTS COMPANIES INCLUDING DANCE KALEIDOSCOPE, THE INTERNATIONAL VIOLIN COMPETITION OF INDIANAPOLIS, AND THE AMERICAN PIANIISTS ASSOCIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Secretary | OfficerTrustee | 2 | $0 |
Name Not Listed Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 2 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Opus 3 Artists Llc Artist Agency | 8/30/23 | $194,959 |
Printing Partners Inc Printing Services | 8/30/23 | $174,945 |
Jonas Productions Inc Audio Services | 8/30/23 | $119,767 |
Wme Entertainment Llc Artist Agency | 8/30/23 | $108,187 |
Mid-america Sound Corporation Audio And Lighting Services | 8/30/23 | $149,469 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $313,095 |
| Related organizations | $6,290,436 |
| Government grants | $145,220 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,241,848 |
| Noncash contributions included in lines 1a–1f | $162,531 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,990,599 |
| Total Program Service Revenue | $9,057,076 |
| Investment income | $44,627 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$403,679 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$204,055 |
| Net Income from Gaming Activities | $1,185 |
| Net Income from Sales of Inventory | $405,775 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,085,928 |
| 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. | $654,628 |
| Compensation of current officers, directors, key employees. | $309,716 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,263,685 |
| Pension plan accruals and contributions | $790,961 |
| Other employee benefits | $1,637,285 |
| Payroll taxes | $804,536 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $101,024 |
| Fees for services: Accounting | $75,289 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $708,073 |
| Advertising and promotion | $773,848 |
| Office expenses | $1,494,509 |
| Information technology | $0 |
| Royalties | $76,401 |
| Occupancy | $1,891,422 |
| Travel | $15,256 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,691 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $412,949 |
| Insurance | $176,521 |
| All other expenses | $773,431 |
| Total functional expenses | $25,082,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $863,247 |
| Savings and temporary cash investments | $3,034,451 |
| Pledges and grants receivable | $2,740,683 |
| Accounts receivable, net | $414,382 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $282,692 |
| Inventories for sale or use | $9,003 |
| Prepaid expenses and deferred charges | $735,767 |
| Net Land, buildings, and equipment | $1,645,405 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,109,764 |
| Total assets | $12,835,394 |
| Accounts payable and accrued expenses | $1,447,045 |
| Grants payable | $0 |
| Deferred revenue | $3,211,643 |
| 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 | $4,955,296 |
| Total liabilities | $9,613,984 |
| Net assets without donor restrictions | -$232,552 |
| Net assets with donor restrictions | $3,453,962 |
| 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 | $12,835,394 |