Florida West Coast Symphony Inc
- Assets
- $31.8m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 356
- Location
- Sarasota, FL
- Founding
- 05/1986
- Data as of
- 07/2023
- EIN
- 59-2603081
Organization Overview
Florida West Coast Symphony Inc is located in Sarasota, FL. The organization was established in 1986. 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 07/2024, Florida West Coast Symphony Inc employed 356 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida West Coast Symphony Inc 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 07/2023, Florida West Coast Symphony Inc generated $10.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $13.4m during the year ending 07/2023. While expenses have increased by 5.1% 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 MISSION OF THE SARASOTA ORCHESTRA IS TO ENGAGE, EDUCATE AND ENRICH OUR COMMUNITY THROUGH HIGH QUALITY LIVE MUSICAL EXPERIENCES. SARASOTA ORCHESTRA IS COMMITTED TO ENGAGING OUR COMMUNITY WITH THE HIGHEST STANDARDS IN PERFORMING AND PROGRAMMING, OPERATING IN A CULTURE OF SERVICE, RESPECT, AND COLLABORATION, AND PERFORMING CLASSICAL MUSIC AND WELCOMING GREAT MUSIC FROM OTHER GENRES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SARASOTA ORCHESTRA IS ONE OF THE LEADING REGIONAL ORCHESTRAS IN THE UNITED STATES, PERFORMING A WIDE RANGE OF CLASSICAL, POPS, AND CHAMBER MUSIC CONCERTS. PRIOR TO THE COVID-19 PANDEMIC, EACH SEASON SARASOTA ORCHESTRA PERFORMED FOR MORE THAN 88,000 PEOPLE ACROSS MORE THAN 100 LIVE MUSICAL PERFORMANCES IN A 36-WEEK SEASON FROM SEPTEMBER TO MAY. THE 2023-2024 CONCERT SEASON CONTINUED TO SEE AUDIENCE RECOVERY FROM THE PANDEMIC TRENDING UPWARD EACH SEASON SINCE 2021-2022 AND REACHED 70,000 THIS SEASON. HIGHLIGHTS OF THE SEASON INCLUDED SCREENINGS OF THE MOVIE STAR WARS WITH THE FILM SCORE PERFORMED LIVE, PERFORMANCES OF PETER AND THE WOLF IN SPANISH AND ENGLISH IN THE SPRING, AND THE POPULAR OUTDOOR POPS CONCERTS AT ED SMITH STATIUM THAT ATTRACTED MORE THAN 6,000 PEOPLE FROM THE COMMUNITY. SARASOTA ORCHESTRA EMPLOYS 76 CONTRACTED MUSICIANS, WITH 48 MUSICIANS FORMING THE ORCHESTRA'S FULL-TIME CORE. ITS OUTREACH PROGRAMS, INCLUDING THE "ON THE ROAD WITH SO" COMMUNITY TOUR, A DEDICATED FREE FALL FAMILY CONCERT, AND FREE TICKETS THROUGH VETTIX AND TICKETS FOR KIDS AND A RANGE OF SOCIAL SERVICES PROGRAMS IN ORDER TO CONNECT WITH SARASOTA AND MANATEE COUNTY RESIDENTS OF ALL AGES WHO MAY NOT OTHERWISE HAVE ACCESS TO CONCERT EXPERIENCES, THEREBY STRENGTHENING THE COMMUNITY'S ARTISTIC PROFILE AND REPUTATION AS A CULTURAL HUB IN FLORIDA.
FOUNDED IN 1965, THE SARASOTA MUSIC FESTIVAL IS ONE OF THE UNITED STATES' PREMIER TEACHING AND PERFORMANCE FESTIVALS FOCUSED ON CHAMBER MUSIC. IT WAS DESIGNATED BY THE FLORIDA STATE LEGISLATURE AS THE "OFFICIAL TEACHING AND PERFORMING FESTIVAL OF THE STATE OF FLORIDA" IN 1984. THROUGH A COMPETITIVE APPLICATION PROCESS, THE FESTIVAL ACCEPTS MORE THAN 60 TALENTED FELLOWS EACH SUMMER, THE MAJORITY OF THEM COLLEGE-AGED, PRE-PROFESSIONAL ARTISTS, TO PARTICIPATE IN THREE WEEKS OF MASTER CLASSES AND COACHING SESSIONS, ALONG WITH PUBLIC ORCHESTRAL AND CHAMBER MUSIC PERFORMANCES. A ROSTER OF MORE THAN 40 INTERNATIONALLY-ACCLAIMED MUSICIANS REPRESENTING THE WORLD'S TOP ORCHESTRAS, CONSERVATORIES, AND COLLEGES COME TO THE FESTIVAL TO MENTOR AND PERFORM ALONGSIDE THE FELLOWS. JEFFREY KAHANE HAS SERVED AS MUSIC DIRECTOR OF THE SARASOTA MUSIC FESTIVAL SINCE 2016. FESTIVAL AUDIENCES ENJOY A WIDE VARIETY OF CONCERT EXPERIENCES AND EVENTS, INCLUDING THURSDAY AFTERNOON ARTIST SHOWCASES FEATURING THE FACULTY ARTISTS; CONCERTS OF CHAMBER AND ORCHESTRAL MUSIC ON FRIDAYS AND SATURDAYS; AND SUNDAY "RISING STARS" RECITALS IN WHICH THE FELLOWS ARE BOTH THE STARS AND CURATORS OF THE PROGRAMS. MANY PATRONS ENJOY THE OPTION OF PURCHASING FESTIVAL PASSES, WHICH ALLOW ACCESS TO THE ARTISTS' MASTER CLASSES AND REHEARSALS. SPECIAL EVENTS AND LECTURES THROUGHOUT THE FESTIVAL OFFER RARE OPPORTUNITIES FOR ALL FESTIVAL PARTICIPANTS, AUDIENCES AND MUSICIANS ALIKE, TO ENGAGE WITH LIVING COMPOSERS AND TOP PERFORMING ARTISTS OF TODAY.
FOR 65 YEARS, SARASOTA ORCHESTRA HAS SPONSORED A YOUTH ORCHESTRA PROGRAM THAT CURRENTLY CONSISTS OF EIGHT ORCHESTRAS: FIVE STRING ORCHESTRAS, ONE WIND BAND, AND TWO SYMPHONIC ORCHESTRAS. THE SARASOTA YOUTH ORCHESTRAS MEET ONCE A WEEK FROM SEPTEMBER THROUGH APRIL AND PRESENT SIX CONCERTS THAT ARE FREE TO THE PUBLIC. ALMOST FULLY RECOVERED FROM A DIP IN PARTICIPATION DURING AND FOLLOWING THE PANDEMIC, THE PROGRAM IS NOW FLOURISHING AND BACK TO FULL CAPACITY. 54% OF THE SARASOTA YOUTH ORCHESTRAS' STUDENTS WERE SUPPORTED BY SCHOLARSHIP ASSISTANCE. SARASOTA ORCHESTRA ALSO PRESENTS A SUMMER MUSIC CAMP FOR TWO WEEKS EACH JULY. SARASOTA ORCHESTRA'S SUMMER MUSIC CAMP SUPPORTS "TRUE BEGINNERS," ENABLING ASPIRING MUSICIANS AS YOUNG AS EIGHT YEARS OLD TO LEARN HOW TO PLAY AN INSTRUMENT WITH NO PRIOR EXPERIENCE.TO ENSURE ALL STUDENTS HAVE ACCESS TO MUSIC INSTRUCTION AND EDUCATIONAL PROGRAMS, SARASOTA ORCHESTRA PROVIDES SCHOLARSHIPS FOR PARTICIPATION IN SARASOTA YOUTH ORCHESTRAS AND SUMMER MUSIC CAMP, AS WELL AS PRIVATE LESSON, SUMMER CAMPS, AND COLLEGE SCHOLARSHIPS. STUDENTS ALSO HAVE THE OPPORTUNITY TO BORROW INSTRUMENTS FROM THE ORCHESTRA. OTHER EDUCATION PROGRAMS INCLUDE THE YOUNG PERSON'S CONCERT, WHICH ENGAGES MORE THAN 9,000 FOURTH- AND FIFTH- GRADERS FROM SARASOTA AND MANATEE COUNTY SCHOOLS. THE PROGRAM INCLUDES AN IN-SCHOOL PREPARATION CURRICULUM GUIDE AND CULMINATES IN A CONCERT BY SARASOTA ORCHESTRA HELD AT A PROFESSIONAL CONCERT VENUE. THE CURRICULUM FOR THE YOUNG PERSON'S CONCERT ALIGNS WITH THE FLORIDA AND NATIONAL EDUCATION STANDARDS. OTHER OUTREACH PROGRAMS INCLUDE ORCHESTRA MUSICIANS PERFORMING AND COACHING IN LOCAL SCHOOLS AND OTHER COMMUNITY VENUES. IN A REGULAR SEASON, THE TOTAL NUMBER OF CHILDREN AND FAMILY MEMBERS SERVED BY SARASOTA ORCHESTRA'S EDUCATIONAL PROGRAMMING EXCEEDS 15,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Koski Chair | OfficerTrustee | 2 | $0 |
Mike Esposito Director | Trustee | 2 | $0 |
Rose-Anne Frano Vice Chair | OfficerTrustee | 2 | $0 |
Deborah Hamm Director | Trustee | 2 | $0 |
Henry Kahwaty Director | Trustee | 2 | $0 |
Peter Kretzmer Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Opus 3 Artists Guest Conductors/artists | 7/30/24 | $550,889 |
Garfield Publicprivate Project Management | 7/30/24 | $333,000 |
Aysmm Digital Digital Marketing | 7/30/24 | $106,625 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $149,055 |
| Related organizations | $1,300,000 |
| Government grants | $694,486 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,410,136 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,553,677 |
| Total Program Service Revenue | $3,570,584 |
| Investment income | $530,736 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$12,653 |
| Net Gain/Loss on Asset Sales | -$2,139,910 |
| Net Income from Fundraising Events | $465,754 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$2,486 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,091,175 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $29,269 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $664,821 |
| Compensation of current officers, directors, key employees. | $104,310 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,343,696 |
| Pension plan accruals and contributions | $253,630 |
| Other employee benefits | $727,049 |
| Payroll taxes | $538,176 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $64,071 |
| Fees for services: Accounting | $46,276 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,691 |
| Fees for services: Other | $416,421 |
| Advertising and promotion | $321,413 |
| Office expenses | $410,281 |
| Information technology | $146,733 |
| Royalties | $0 |
| Occupancy | $1,178,853 |
| Travel | $55,719 |
| 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 | $233,044 |
| Insurance | $530 |
| All other expenses | $8,998 |
| Total functional expenses | $13,385,444 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,718,759 |
| Savings and temporary cash investments | $2,754,087 |
| Pledges and grants receivable | $300,666 |
| Accounts receivable, net | $628,817 |
| 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 | $220,684 |
| Net Land, buildings, and equipment | $17,893,747 |
| Investments—publicly traded securities | $3,819,711 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $443,707 |
| Total assets | $31,780,178 |
| Accounts payable and accrued expenses | $1,448,464 |
| Grants payable | $0 |
| Deferred revenue | $1,891,731 |
| 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 | $3,340,195 |
| Net assets without donor restrictions | $18,504,376 |
| Net assets with donor restrictions | $9,935,607 |
| 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 | $31,780,178 |