Richmond Symphony Orchestra Association
- Assets
- $2.1m
- Revenue
- $443.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Richmond, IN
- Founding
- 08/1961
- Data as of
- 06/2021
- EIN
- 35-6042479
Organization Overview
Richmond Symphony Orchestra Association is located in Richmond, IN. The organization was established in 1961. 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, Richmond Symphony Orchestra Association employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richmond Symphony Orchestra Association 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, Richmond Symphony Orchestra Association generated $443.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $259.7k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.6%) 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
SHAPE THE CULTURAL LIFE OF OUR REGION BY DELIVERING EXCEPTIONAL, INCLUSIVE MUSIC EXPERIENCES THAT ENRICH, ENTERTAIN AND EDUCATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NUMEROUS MUSICAL PRODUCTIONS AND RELATED ACTIVITIES WERE PRESENTED BY THE SYMPHONY THROUGHOUT ONE SEASON AND THOUSANDS IN THE COMMUNITY BENEFITED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monica Koechlein Executive Di | Officer | 40 | $42,806 |
Jeff Carter Vice-Preside | OfficerTrustee | 1 | $0 |
Kathy Girten President | OfficerTrustee | 1 | $0 |
John Zetzl Secretary | OfficerTrustee | 1 | $0 |
Marty Van Der Burgt Treasurer | OfficerTrustee | 1 | $0 |
Leslie Bolser Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $336,253 |
| Investment income | $28,435 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $42,328 |
| Net Income from Fundraising Events | $21,608 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $443,562 |
| 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. | $42,806 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $67,060 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $450 |
| Payroll taxes | $5,784 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,251 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,261 |
| Fees for services: Other | $32,410 |
| Advertising and promotion | $14,086 |
| Office expenses | $22,726 |
| Information technology | $0 |
| Royalties | $245 |
| Occupancy | $31,824 |
| 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 | $1,073 |
| Insurance | $2,745 |
| All other expenses | $0 |
| Total functional expenses | $259,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $237,286 |
| Pledges and grants receivable | $10,386 |
| 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 | $102 |
| Investments—publicly traded securities | $458,788 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,344,255 |
| Total assets | $2,069,695 |
| Accounts payable and accrued expenses | $3,868 |
| Grants payable | $0 |
| Deferred revenue | $4,150 |
| 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 | $8,018 |
| 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 | $2,061,677 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Richmond Symphony Orchestra Association has recieved totaling $116,532.
| Awarding Organization | Amount |
|---|---|
Wayne County Indiana Foundation Inc Richmond, IN PURPOSE: 2020 CHALLENGE MATCH, 2020 SPRING GRANT CYCLE, AND OTHER DISTRIBUTIONS | $86,432 |
Jack And Debra Edelman Foundationinc Richmond, IN PURPOSE: OPERATIONS OF THE NON PROFIT | $15,000 |
Jack And Debra Edelman Foundationinc Richmond, IN PURPOSE: OPERATIONS OF THE NON PROFIT | $15,000 |
Emerel G Waters Tr New Castle, IN PURPOSE: CHARITABLE | $100 |
Endowment Analysis
| Beg. Balance | $1,071,748 |
| Earnings | $297,378 |
| Net Contributions | $70,000 |
| Other Expense | $44,871 |
| Ending Balance | $1,394,255 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chicago Symphony Orchestra Chicago, IL | $576,700,123 | $109,905,535 |
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 |
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 |