Knoxville Symphony Society Inc
- Assets
- $1.5m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 174
- Location
- Knoxville, TN
- Founding
- 05/1950
- Data as of
- 05/2022
- EIN
- 62-6008097
Organization Overview
Knoxville Symphony Society Inc is located in Knoxville, TN. The organization was established in 1950. 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, Knoxville Symphony Society Inc employed 174 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knoxville Symphony Society 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 05/2022, Knoxville Symphony Society Inc generated $4.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $4.1m during the year ending 05/2022. While expenses have increased by 0.8% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND SUSTAIN A SYMPHONY ORCHESTRA OF THE HIGHEST ARTISTIC STANDARDS AND TO REACH EAST TENNESSEE AUDIENCES OF ALL AGES BY PROVIDING EXCELLENCE IN MUSICAL PERFORMANCE AND EDUCATION PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MOXLEY CARMICHAEL MASTERWORKS SERIES - 8 CONCERTS BY THE FULL ORCHESTRA PERFORMING SYMPHONIC MASTERPIECES; 13,413 SERVED
POPS SERIES - 7 PERFORMANCES OF CONTEMPORARY MUSIC BY THE POPS ORCHESTRA AND FEATURED GUESTS; 14,930 SERVED
CHAMBER MUSIC - 5 CONCERTS BY THE CHAMBER ORCHESTRA PERFORMING CLASSICAL AND CONTEMPORARY PIECES; 3,084 SERVED
CONCERTMASTER AND Q SERIES - 9 CONCERTS; 1,143 SERVED YOUNG PEOPLES CONCERTS - PERFORMANCES BY THE ORCHESTRA FOR ELEMENTARY AND MIDDLE SCHOOL CHILDREN DESIGNED FOR MUSIC EDUCATION VARIOUS OTHER PERFORMANCES THROUGHOUT THE EAST TENNESSEE AREA FOR THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Ford Executive Di | Officer | 40 | $136,170 |
Ned Smethers Director Of | Officer | 40 | $65,688 |
Mardel Fehrenbach Secretary | OfficerTrustee | 1 | $0 |
David Colquitt Treasurer | OfficerTrustee | 1 | $0 |
John Winemiller President | OfficerTrustee | 1 | $0 |
David Ayliffe Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,008,385 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,280,762 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,289,147 |
| Total Program Service Revenue | $1,428,114 |
| Investment income | $5,810 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $204,844 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,960,669 |
| 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. | $201,858 |
| Compensation of current officers, directors, key employees. | $201,858 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,041,777 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $212,530 |
| Payroll taxes | $161,377 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $206,148 |
| Office expenses | $128,830 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $59,904 |
| Travel | $57,389 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,711 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,032 |
| Insurance | $23,252 |
| All other expenses | $481,838 |
| Total functional expenses | $4,138,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $253,425 |
| Savings and temporary cash investments | $658,753 |
| Pledges and grants receivable | $32,932 |
| Accounts receivable, net | $166,799 |
| 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 | $79,475 |
| Net Land, buildings, and equipment | $136,567 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $156,128 |
| Total assets | $1,484,079 |
| Accounts payable and accrued expenses | $169,339 |
| Grants payable | $0 |
| Deferred revenue | $722,623 |
| 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 | $891,962 |
| Net assets without donor restrictions | $592,117 |
| 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 | $1,484,079 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Knoxville Symphony Society Inc has recieved totaling $613,725.
| Awarding Organization | Amount |
|---|---|
East Tennessee Foundation Knoxville, TN PURPOSE: GEN/OPER SUPPORT | $519,750 |
Arts And Culture Alliance Of Greater Knoxville Knoxville, TN PURPOSE: TO SUPPORT ARTS IN THE COMMUNITY | $31,200 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: CULTURE | $15,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $14,975 |
Charis Foundation Knoxville, TN PURPOSE: GENERAL OPERATING SUPPORT | $12,500 |
Charis Foundation Knoxville, TN PURPOSE: GENERAL OPERATING SUPPORT | $12,500 |
Endowment Analysis
| Beg. Balance | $7,379,189 |
| Earnings | $131,671 |
| Admin Expense | $33,543 |
| Net Contributions | $620,526 |
| Other Expense | $342,000 |
| Ending Balance | $7,755,843 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kansas City Symphony Kansas City, MO | $64,822,369 | $17,397,853 |
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 |
Saint Louis Symphony Endowment Trust Saint Louis, MO | $280,111,729 | $18,922,089 |
Nashville Symphony Association Nashville, TN | $100,031,908 | $12,366,678 |
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 |