Winston Salem Symphony Assoc
- Assets
- $6.2m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 107
- Location
- Winstonsalem, NC
- Founding
- 04/1952
- Data as of
- 05/2022
- EIN
- 56-0692826
Organization Overview
Winston Salem Symphony Assoc is located in Winstonsalem, NC. The organization was established in 1952. 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 05/2022, Winston Salem Symphony Assoc employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Winston Salem Symphony Assoc 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 05/2022, Winston Salem Symphony Assoc generated $3.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $2.9m during the year ending 05/2022. While expenses have increased by 1.5% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BRING MUSIC TO LIFE.
Describe the Organization's Program Activity:
PERFORMANCES: 28 IN-PERSON PERFORMANCES AND EDUCATIONAL PROGRAMS SERVING 36,196 AUDIENCE MEMBERS WHO ATTENDED EVENTS WITHIN OUR CLASSICS SERIES, MUSIC THAT POPS SERIES, IGNITE FAMILY SERIES, MARY STARLING EDUCATIONAL CONCERTS, WSS CHORUS AND THE MESSIAH.
EDUCATION: SUMMER PLAY MUSIC CAMP SERVED 25 STUDENTS OVER 7 WEEKS AND SUMMER YOUTH ORCHESTRA FESTIVAL (INAUGURAL) SERVED 60 STUDENTS OVER A ONE WEEK CAMP. PROVIDED 240 IN-PERSON CLASSES FOR 150 STUDENTS FOR OUR PLAY MUSIC PROGRAM (PIEDMONT LEARNING ACADEMY FOR YOUTH). PROVIDED 112 IN-PERSON REHEARSALS FOR 125 YOUTH ORCHESTRA STUDENTS OF VARYING LEVELS AND GROUPS (CHAMBER SINFONIA/PREMIERE STRINGS, YOUTH PHILHARMONIC, AND YOUTH SYMPHONY)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
E Merritt Vale President & | Officer | 40 | $135,542 |
Timothy Redmond End 82321 Symphony Dir | Officer | 40 | $106,982 |
Carol Reeve Board Chair | OfficerTrustee | 1 | $0 |
Thomas Bornemann Treasurer | OfficerTrustee | 1 | $0 |
Pam Cash Secretary | OfficerTrustee | 1 | $0 |
Ann Fritchman Merkel Immediate Pa | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $153,250 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $914,556 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,405,932 |
| Noncash contributions included in lines 1a–1f | $148,131 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,473,738 |
| Total Program Service Revenue | $673,729 |
| Investment income | $299,397 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,950 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,471,563 |
| 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. | $210,204 |
| Compensation of current officers, directors, key employees. | $61,930 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,213,145 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $65,577 |
| Payroll taxes | $108,737 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,629 |
| Fees for services: Other | $104,876 |
| Advertising and promotion | $144,318 |
| Office expenses | $46,284 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $87,477 |
| Travel | $10,044 |
| 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 | $3,287 |
| Insurance | $19,231 |
| All other expenses | $236,973 |
| Total functional expenses | $2,934,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,591 |
| Savings and temporary cash investments | $590,049 |
| Pledges and grants receivable | $104,414 |
| Accounts receivable, net | $97,535 |
| 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 | $28,838 |
| Net Land, buildings, and equipment | $60,623 |
| Investments—publicly traded securities | $5,241,739 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,175,789 |
| Accounts payable and accrued expenses | $46,192 |
| Grants payable | $0 |
| Deferred revenue | $15,934 |
| 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 | $62,126 |
| Net assets without donor restrictions | $2,063,338 |
| Net assets with donor restrictions | $4,050,325 |
| 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 | $6,175,789 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Winston Salem Symphony Assoc has recieved totaling $202,311.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 77 GRANT(S) FOR VARYING PURPOSES | $198,061 |
Mcswain Trust Agreement Sanford, NC PURPOSE: FUND RECIPIENT'S EXEMPT PURPOSE | $2,000 |
Strickland Family Foundation Winston Salem, NC PURPOSE: ARTS SUPPORT | $2,000 |
Reynolds American Foundation Winston Salem, NC PURPOSE: CHARITABLE ACTIVITIES | $250 |
Endowment Analysis
| Beg. Balance | $5,587,868 |
| Earnings | -$313,031 |
| Admin Expense | $30,629 |
| Net Contributions | $190,000 |
| Other Expense | $192,469 |
| Ending Balance | $5,241,739 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Carolina Symphony Society Inc Raleigh, NC | $32,524,457 | $22,246,893 |
Charlotte Symphony Orchestra Society Inc Charlotte, NC | $18,656,267 | $14,331,249 |
Nashville Symphony Association Nashville, TN | $100,031,908 | $12,366,678 |
Virginia Symphony Orchestra Norfolk, VA | $5,267,903 | $8,191,490 |
Richmond Symphony Richmond, VA | $2,392,826 | $8,372,945 |
Knoxville Symphony Society Inc Knoxville, TN | $1,484,079 | $3,960,669 |
Memphis Symphony Orchestra Inc Memphis, TN | $6,274,797 | $4,582,397 |
Greensboro Symphony Orchestra Incorporated Greensboro, NC | $1,104,196 | $3,569,093 |
Winston Salem Symphony Assoc Winstonsalem, NC | $6,175,789 | $3,471,563 |
Charleston Symphony Orchestra Charleston, SC | $3,900,208 | $3,884,009 |
Augusta Symphony Inc Augusta, GA | $19,725,932 | $3,708,047 |
Greenville Symphony Association Greenville, SC | $3,125,608 | $3,582,952 |