Knoxville Symphony Society Inc
- Assets
- $1.5m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 201
- Location
- Knoxville, TN
- Founding
- 05/1950
- Data as of
- 05/2023
- 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 05/2023, Knoxville Symphony Society Inc employed 201 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 05/2023, Knoxville Symphony Society Inc generated $4.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $4.5m during the year ending 05/2023. While expenses have increased by 1.8% 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 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; 12,151 SERVED
CONCERTMASTER AND Q SERIES - 9 CONCERTS; 1,343 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
POPS SERIES - 7 PERFORMANCES OF CONTEMPORARY MUSIC BY THE POPS ORCHESTRA AND FEATURED GUESTS; 17,728 SERVED
CHAMBER MUSIC - 5 CONCERTS BY THE CHAMBER ORCHESTRA PERFORMING CLASSICAL AND CONTEMPORARY PIECES; 3,763 SERVED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Ayliffe Director | Trustee | 1 | $0 |
Becky Benedict Director | Trustee | 1 | $0 |
Patricia Bible Director | Trustee | 1 | $0 |
Jarrod Blue Director | Trustee | 1 | $0 |
Jenny Boyd Director | Trustee | 1 | $0 |
John Brock Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $394,000 |
| Government grants | $267,593 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,765,631 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,427,224 |
| Total Program Service Revenue | $1,820,681 |
| Investment income | $17,493 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $198,771 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,523,262 |
| 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. | $204,800 |
| Compensation of current officers, directors, key employees. | $203,430 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,161,014 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $311,536 |
| Payroll taxes | $170,771 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $186,926 |
| Office expenses | $124,052 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $64,747 |
| Travel | $74,065 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,213 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,131 |
| Insurance | $38,739 |
| All other expenses | $420,509 |
| Total functional expenses | $4,519,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $274,284 |
| Savings and temporary cash investments | $577,093 |
| Pledges and grants receivable | $45,707 |
| Accounts receivable, net | $219,109 |
| 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 | $95,292 |
| Net Land, buildings, and equipment | $125,436 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $162,125 |
| Total assets | $1,499,046 |
| Accounts payable and accrued expenses | $127,921 |
| Grants payable | $0 |
| Deferred revenue | $775,551 |
| 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 | $903,472 |
| Net assets without donor restrictions | $595,574 |
| 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 | $1,499,046 |