North Carolina Symphony Foundation
- Assets
- $20.9m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 03/1983
- Data as of
- 06/2023
- EIN
- 58-1495066
Organization Overview
North Carolina Symphony Foundation is located in Raleigh, NC. The organization was established in 1983. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Symphony Foundation 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, North Carolina Symphony Foundation generated $3.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $1.0m during the year ending 06/2023. While expenses have increased by 5.5% 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
TO PROVIDE SUPPORT TO THE NORTH CAROLINA SYMPHONY SOCIETY AND TO SOLICIT ADDITIONS TO ITS ENDOWMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SUPPORT TO THE NORTH CAROLINA SYMPHONY SOCIETY, INC. (THE "SOCIETY"), SOLICIT ADDITIONS TO ITS ENDOWMENT, SAFEGUARD ENDOWMENT ASSETS IN A MANNER CONSISTENT WITH THE PRUDENT INVESTMENT OF ENDOWMENT FUNDS, AND EXPEND INCOME AND CAPITAL FOR THE EXCLUSIVE USE AND BENEFIT OF THE SOCIETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Chip Anderson President | OfficerTrustee | 5 | $0 |
Mr Larry Wilson Past President | OfficerTrustee | 3 | $0 |
Ms Dianne C Sellers Secretary | OfficerTrustee | 3 | $0 |
Col Matt Segal Treasurer | OfficerTrustee | 3 | $0 |
Ms Catharine Biggs Arrowood Member | Trustee | 1 | $0 |
Mr Joe Bastian Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,291,380 |
| Noncash contributions included in lines 1a–1f | $945,073 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,291,380 |
| Total Program Service Revenue | $0 |
| Investment income | $405,890 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$274,301 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,422,969 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $952,896 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $2,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,510 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,929 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $6,049 |
| Total functional expenses | $1,002,384 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $16,630 |
| Accounts receivable, net | $45,701 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $19,653,377 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,148,857 |
| Total assets | $20,864,565 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $5,250 |
| Total liabilities | $5,250 |
| Net assets without donor restrictions | $1,325,482 |
| Net assets with donor restrictions | $19,533,833 |
| 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 | $20,864,565 |