Richmond Symphony
- Assets
- $1.4m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 388
- Location
- Richmond, VA
- Founding
- 01/1960
- Data as of
- 06/2023
- EIN
- 54-6024033
Organization Overview
Richmond Symphony is located in Richmond, VA. The organization was established in 1960. 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 06/2023, Richmond Symphony employed 388 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richmond Symphony 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 06/2023, Richmond Symphony generated $7.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $8.4m during the year ending 06/2023. While expenses have increased by 5.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE RICHMOND SYMPHONY PERFORMS, TEACHES, AND CHAMPIONS MUSIC TO INSPIRE AND UNITE OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EACH SEASON, THE RICHMOND SYMPHONY REACHES 250,000 VIRGINIANS ACROSS THE COMMONWEALTH THROUGH CONCERTS, EDUCATIONAL PROGRAMS, TOURING, BROADCASTS AND LIVE STREAMS. ITS ROSTER INCLUDES AN INTERNATIONALLY RESPECTED MUSIC DIRECTOR AND GUEST ARTISTS AS WELL AS LOCALLY PROMINENT MUSICIANS. THE RICHMOND SYMPHONY IS DEDICATED TO EXCELLENCE IN PRESENTING ALL TYPES OF ORCHESTRAL REPERTOIRE, PERFORMING A WIDE VARIETY OF MUSIC IN VARIOUS VENUES FROM CONCERT HALLS TO INTIMATE COFFEE SHOPS. THE RICHMOND SYMPHONY SCHOOL OF MUSIC INCORPORATES ONLINE AND IN-PERSON LEARNING OPPORTUNITIES FOR INDIVIDUALS OF SCHOOL AGE THROUGH ADULT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Cabell Jennings Chair | OfficerTrustee | 1 | $0 |
George L Mahoney Immediate Past Chair | OfficerTrustee | 1 | $0 |
Elisabeth Wollan Vice Chair | OfficerTrustee | 1 | $0 |
Brandon Taylor Treasurer | OfficerTrustee | 1 | $0 |
John Walker Secretary | OfficerTrustee | 1 | $0 |
Joshua Bennett Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $750,000 |
| Government grants | $210,394 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,980,747 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,941,141 |
| Total Program Service Revenue | $2,504,259 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $77,249 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,522,950 |
| 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. | $487,011 |
| Compensation of current officers, directors, key employees. | $204,346 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,099,035 |
| Pension plan accruals and contributions | $191,128 |
| Other employee benefits | $308,851 |
| Payroll taxes | $304,340 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,749 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $60,026 |
| Office expenses | $146,211 |
| Information technology | $47,559 |
| Royalties | $0 |
| Occupancy | $350,032 |
| Travel | $28,071 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,807 |
| Interest | $78,610 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $98,176 |
| Insurance | $90,643 |
| All other expenses | $0 |
| Total functional expenses | $8,412,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $211,216 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $333,517 |
| Accounts receivable, net | $109,861 |
| 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 | $222,356 |
| Net Land, buildings, and equipment | $366,495 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $199,084 |
| Total assets | $1,442,529 |
| Accounts payable and accrued expenses | $457,648 |
| Grants payable | $0 |
| Deferred revenue | $527,342 |
| 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 | $450,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $537,944 |
| Total liabilities | $1,972,934 |
| Net assets without donor restrictions | -$976,405 |
| Net assets with donor restrictions | $446,000 |
| 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 | $1,442,529 |
Grants Awarded
Over the last fiscal year, Richmond Symphony has awarded $20,467 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
RICHMOND PUBLIC SCHOOLS EDUCATION FOUNDATION PURPOSE: GENERAL PURPOSES | $16,000 |
CHESTERFIELD CENTER FOR THE ARTS AT CHESTER FOUNDATION PURPOSE: GENERAL PURPOSES | $469 |
CHESTER COMMUNITY ASSOCIATION PURPOSE: GENERAL PURPOSES | $3,998 |