Waterloo Cedar Falls Symphony Orchestra Association
- Assets
- $852.0k
- Revenue
- $469.5k
- Investments
- $0.0
- Employees
- 10
- Location
- Cedar Falls, IA
- Founding
- 03/1971
- Data as of
- 06/2021
- EIN
- 42-0766745
Organization Overview
Waterloo Cedar Falls Symphony Orchestra Association, operating under the name Wcfsymphony, is located in Cedar Falls, IA. The organization was established in 1971. 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, Wcfsymphony employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wcfsymphony 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, Wcfsymphony generated $469.5k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $338.0k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (8.2%) per year over the past 6 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
THE MISSION OF THE SYMPHONY IS TO PROVIDE THE BEST LIVE MUSIC THERE IS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CLASSICAL CONCERTS, POPS CONCERTS, AND A SERIES OF LOLLIPOP YOUTH CONCERTS. HELD MUSICAL COMPETITIONS FOR THE PERSONS OF NORTHEAST IOWA. WENT INTO LOCAL SCHOOLS TO EDUCATE YOUNG STUDENTS ABOUT CLASSICAL MUSIC. DELIVERY CHANGED IN MARCH 2020 DUE TO THE ONSET OF THE COVID-19 PANDEMIC. THERE WERE NO CONCERTS HELD IN 2021 AS A RESULT OF THE ONGOING PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Frevert Executive Director | Officer | 40 | $55,118 |
Alexander Pershounin Director | Trustee | 0.5 | $735 |
Ej Gallagher III President | OfficerTrustee | 5 | $0 |
Lee Nicholas Treasurer | OfficerTrustee | 0.5 | $0 |
Martha Kroese Secretary | OfficerTrustee | 1 | $0 |
Brad Jensen President Elect | OfficerTrustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $115,444 |
| All other contributions, gifts, grants, and similar amounts not included above | $346,618 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $462,062 |
| Total Program Service Revenue | $818 |
| Investment income | $6,578 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $469,458 |
| 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. | $70,184 |
| Compensation of current officers, directors, key employees. | $45,620 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $144,001 |
| Pension plan accruals and contributions | $1,445 |
| Other employee benefits | $13,455 |
| Payroll taxes | $14,827 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $760 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,570 |
| Advertising and promotion | $6,315 |
| Office expenses | $13,976 |
| Information technology | $11,848 |
| Royalties | $0 |
| Occupancy | $7,680 |
| Travel | $470 |
| 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 | $2,766 |
| Insurance | $3,498 |
| All other expenses | $3,859 |
| Total functional expenses | $337,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $224,171 |
| Savings and temporary cash investments | $10,743 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,522 |
| 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 | $4,485 |
| Net Land, buildings, and equipment | $15,422 |
| Investments—publicly traded securities | $554,608 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $851,951 |
| Accounts payable and accrued expenses | $4,152 |
| Grants payable | $0 |
| Deferred revenue | $60,792 |
| 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 | $64,944 |
| Net assets without donor restrictions | $787,007 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $851,951 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Waterloo Cedar Falls Symphony Orchestra Association has recieved totaling $28,024.
| Awarding Organization | Amount |
|---|---|
Black Hawk County Gaming Assoc Waterloo, IA PURPOSE: THE EVOLUTION OF AFRICAN AMERICAN MUSIC RESIDENCY | $12,500 |
Max And Helen Guernsey Charitable Foundation Waterloo, IA PURPOSE: PROGRAMMING | $10,000 |
Waterloo Community Foundation Waterloo, IA PURPOSE: GENERAL SUPPORT AND EDUCATIONAL PROGRAMS | $5,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $24 |
Endowment Analysis
| Beg. Balance | $1,351,939 |
| Earnings | $394,646 |
| Admin Expense | $16,694 |
| Net Contributions | $850 |
| Other Expense | $54,593 |
| Ending Balance | $1,676,148 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chicago Symphony Orchestra Chicago, IL | $576,700,123 | $109,905,535 |
Minnesota Orchestral Association Minneapolis, MN | $187,473,763 | $23,588,719 |
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 |
Saint Paul Chamber Orchestra Society St Paul, MN | $57,703,244 | $22,202,532 |
Omaha Symphony Association Omaha, NE | $71,026,158 | $5,852,032 |
Madison Symphony Orchestra Inc Madison, WI | $6,807,074 | $3,792,114 |
Des Moines Symphony Association Des Moines, IA | $12,208,795 | $2,653,432 |
Milwaukee Youth Symphony Orchestra Inc Milwaukee, WI | $9,958,210 | $2,491,222 |
Elgin Symphony Orchestra Assoc Elgin, IL | $718,957 | $2,098,094 |