Lake Forest Symphony Association
- Assets
- $1.2m
- Revenue
- $844.0k
- Investments
- $0.0
- Employees
- 121
- Location
- Lake Forest, IL
- Founding
- 11/1961
- Data as of
- 08/2019
- EIN
- 36-6116751
Organization Overview
Lake Forest Symphony Association is located in Lake Forest, IL. 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 08/2019, Lake Forest Symphony Association employed 121 individuals. Lake Forest Symphony 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 08/2019, Lake Forest Symphony Association generated $844.0k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 25.2% each year . All expenses for the organization totaled $802.1k during the year ending 08/2019. While expenses have increased by 6.1% per year over the past 3 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
PART I, LINE 1 AND PART III, LINE 1 - THE LAKE FOREST SYMPHONY IS ORGANIZED TO PRESENT EXCITING, OUTSTANDING AND DIVERSE MUSICAL PROGRAMS OF THE HIGHEST ARTISTIC AND PROFESSIONAL QUALITY FOR AUDIENCES OF ALL AGES. ALSO TO ENRICH AND INSPIRE YOUNG PEOPLE, INCLUDING UNDERPRIVILEGED AND MINORITY AUDIENCES, THROUGH SCHOOL AND CONCERT HALL PERFORMANCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSIC PRODUCTION COSTS - EXPENDED TO ACHIEVE PURPOSE OF PROVIDING MUSICAL PROGRAMS OF THE HIGHEST ARTISTIC AND PROFESSIONAL QUALITY; AND FOR EDUCATING AND INSPIRING YOUNG PEOPLE, ESPECIALLY FROM UNDERSERVED AND UNDERPRIVILEDGED DEMOGRAPHICS.
TRAVEL EXPENSES TO PROMOTE AWARENESS OF THE ASSOCIATION'S MUSICAL PROGRAMS.
MARKETING EXPENSES TO PROMOTE AWARENESS OF THE ASSOCIATION'S MUSICAL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
S Aneeqa Aqeel Director | Trustee | 1 | $0 |
Raymond J Frick Jr President | OfficerTrustee | 5 | $0 |
Richard H Morehead Secretary | OfficerTrustee | 3 | $0 |
Kim Campbell Director | Trustee | 1 | $0 |
Job A Youshaei Director | OfficerTrustee | 1 | $0 |
Joanna P Rolek Vice Preside | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,200 |
| Related organizations | $22,347 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $654,303 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $694,850 |
| Total Program Service Revenue | $148,371 |
| Investment income | $600 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $209 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $844,030 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $503,028 |
| Pension plan accruals and contributions | $32,281 |
| Other employee benefits | $19,012 |
| Payroll taxes | $38,482 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,429 |
| Advertising and promotion | $3,950 |
| Office expenses | $13,668 |
| Information technology | $2,172 |
| Royalties | $0 |
| Occupancy | $49,072 |
| Travel | $10,998 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,849 |
| Interest | $3,805 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $788 |
| Insurance | $18,763 |
| All other expenses | $70 |
| Total functional expenses | $802,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $124,841 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,142 |
| 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 | $11,768 |
| Net Land, buildings, and equipment | $4,439 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,027,926 |
| Total assets | $1,171,116 |
| Accounts payable and accrued expenses | $43,039 |
| Grants payable | $0 |
| Deferred revenue | $108,409 |
| 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 | $48,825 |
| Other liabilities | $0 |
| Total liabilities | $200,273 |
| Unrestricted restricted net Assets | -$135,674 |
| Temporarily restricted net Assets | $90,763 |
| Permanently restricted net Assets or current funds | $1,015,754 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $970,843 |