Winston Salem Symphony Assoc
- Assets
- $6.4m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 111
- Location
- Winstonsalem, NC
- Founding
- 04/1952
- Data as of
- 05/2023
- 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 05/2023, Winston Salem Symphony Assoc employed 111 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 05/2023, Winston Salem Symphony Assoc generated $2.8m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $3.0m during the year ending 05/2023. 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
TO BRING MUSIC TO LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PERFORMANCES: 37 IN-PERSON PERFORMANCES (CLASSICS, POPS, FAMILY, AND CHORUS) AND EDUCATIONAL PROGRAMS SERVING 39,152 AUDIENCE MEMBERS.
PUBLIC SCHOOL INSTRUCTION: SUMMER PLAY MUSIC CAMP SERVED 34 STUDENTS OVER 7 WEEKS AND SUMMER YOUTH ORCHESTRA FESTIVAL SERVED 48 STUDENTS OVER A ONE- WEEK CAMP. PROVIDED 336 IN-PERSON CLASSES FOR 185 STUDENTS FOR OUR PLAY MUSIC PROGRAM (PIEDMONT LEARNING ACADEMY FOR YOUTH). PROVIDED 120 IN-PERSON REHEARSALS FOR 170 YOUTH ORCHESTRA STUDENTS OF VARYING LEVELS AND GROUPS (CHAMBER SINFONIA/PREMIERE STRINGS, YOUTH PHILHARMONIC, AND YOUTH SYMPHONY). PROVIDED 81 ENSEMBLE PERFORMANCES AT ELEMENTARY SCHOOLS FOR 14,379 4TH AND 5TH GRADE STUDENT INTERACTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
E Merritt Vale President & | Officer | 40 | $146,042 |
Eli Kaynor Director | Trustee | 1 | $5,416 |
Jonathan Allen Director | Trustee | 1 | $0 |
Alice Anderson Director | Trustee | 1 | $0 |
Betsy Annese Director | Trustee | 1 | $0 |
Christopher Gyves Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $263,750 |
| Membership dues | $0 |
| Fundraising events | $64,925 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,312,275 |
| Noncash contributions included in lines 1a–1f | $37,421 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,640,950 |
| Total Program Service Revenue | $886,675 |
| Investment income | $281,200 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$100,742 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,755,041 |
| 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. | $162,191 |
| Compensation of current officers, directors, key employees. | $47,997 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,206,645 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $78,890 |
| Payroll taxes | $104,453 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,333 |
| Fees for services: Other | $110,520 |
| Advertising and promotion | $114,035 |
| Office expenses | $36,630 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,283 |
| Travel | $9,975 |
| 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 | $8,808 |
| Insurance | $24,569 |
| All other expenses | $228,502 |
| Total functional expenses | $3,037,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,658 |
| Savings and temporary cash investments | $446,122 |
| Pledges and grants receivable | $205,581 |
| Accounts receivable, net | $38,105 |
| 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 | $44,657 |
| Net Land, buildings, and equipment | $51,815 |
| Investments—publicly traded securities | $5,001,018 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $582,883 |
| Total assets | $6,418,839 |
| Accounts payable and accrued expenses | $35,364 |
| Grants payable | $0 |
| Deferred revenue | $183,104 |
| 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 | $589,109 |
| Total liabilities | $807,577 |
| Net assets without donor restrictions | $1,832,140 |
| Net assets with donor restrictions | $3,779,122 |
| 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 | $6,418,839 |