Knoxville Symphony Foundation
- Assets
- $11.2m
- Revenue
- $145.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Knoxville, TN
- Founding
- 03/2002
- Data as of
- 05/2022
- EIN
- 62-1870544
Organization Overview
Knoxville Symphony Foundation is located in Knoxville, TN. The organization was established in 2002. According to its NTEE Classification (A69) the organization is classified as: Symphony Orchestras, 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. Knoxville 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 05/2022, Knoxville Symphony Foundation generated $145.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.0%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RECEIVE AND MANAGE ENDOWMENT FUNDS FOR THE BENEFIT OF THE KNOXVILLE SYMPHONY SOCIETY, INCORPORATED; A TENNESSEE NON-PROFIT 501(C)(3) ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ENDOWMENT FUNDS BACK TO THE KNOXVILLE SYMPHONY SOCIETY, INCORPORATED; A TENNESSEE NON-PROFIT 501(C)(3) ORGANIZATION. THE KNOXVILLE SYMPHONY SOCIETY IS A REGIONAL SYMPHONY ORCHESTRA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Herbert Sanger Jr Chairman | OfficerTrustee | $0 | |
Ned Smethers Treasurer | OfficerTrustee | $0 | |
Randy C Edgemon Director | Trustee | $0 | |
Richard E Ray Director | Trustee | $0 | |
Evelyn Shaw Director | Trustee | $0 | |
Mark Mamantov Director | Trustee | $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 | $39,503 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,503 |
| Total Program Service Revenue | $0 |
| Investment income | $154,839 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$48,805 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $145,537 |
| 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. | $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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| 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 | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,250 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $11,064,958 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,198,208 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $11,198,208 |
| Net assets with donor restrictions | $0 |
| 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 | $11,198,208 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Knoxville Symphony Foundation has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Donors Trust Inc Alexandria, VA PURPOSE: in support of the Knoxville Symphony Orchestra | $15,000 |
Endowment Analysis
| Beg. Balance | $11,829,445 |
| Earnings | -$625,771 |
| Admin Expense | $44,971 |
| Net Contributions | $39,504 |
| Ending Balance | $11,198,207 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Louisville Orchestra Inc Louisville, KY | $7,756,568 | $11,516,592 |
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 |
Alabama Symphonic Association Inc Birmingham, AL | $2,772,905 | $5,743,069 |
Greensboro Symphony Orchestra Incorporated Greensboro, NC | $1,104,196 | $3,569,093 |
Winston Salem Symphony Assoc Winstonsalem, NC | $6,175,789 | $3,471,563 |
Augusta Symphony Inc Augusta, GA | $19,725,932 | $3,708,047 |
Chattanooga Symphony And Opera Association Chattanooga, TN | $2,736,698 | $2,680,505 |
The Arkansas Symphony Orchestra Society Inc Little Rock, AR | $14,211,799 | $5,063,125 |
Mobile Symphony Inc Mobile, AL | $1,270,022 | $2,012,590 |