Miami Symphony Orchestra Inc
- Assets
- $155.0k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 2
- Location
- Miami, FL
- Founding
- 05/1990
- Data as of
- 08/2021
- EIN
- 65-0165057
Organization Overview
Miami Symphony Orchestra Inc is located in Miami, FL. The organization was established in 1990. 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 08/2021, Miami Symphony Orchestra Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Miami Symphony Orchestra 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 08/2021, Miami Symphony Orchestra Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $797.6k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (5.1%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MIAMI SYMPHONY ORCHESTRA (MISO), IN ITS 32ND SEASON, IS THE CULTURAL FLAGSHIP OF MIAMI, AND ONE OF THE LEADING CULTURAL ORGANIZATIONS IN SOUTH FLORIDA. WITH 80 PROFESSIONAL MUSICIANS SELECTED FROM THE FINEST ARTISTS FROM AROUND THE WORLD, MISO REPRESENTS THE EXCEPTIONAL TALENT AND DIVERSITY THAT MIRRORS MIAMI'S OWN INTERNATIONAL AND MULTICULTURAL RICHNESS. IN ADDITION TO THE ORCHESTRA'S CONCERTS, ITS SMALL ENSEMBLES PROVIDE EDUCATIONAL OUTREACH SERVICES TO THE MIAMI-DADE COMMUNITY AS PART OF ITS EDUCATION MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESENTED RECURRING CONCERTS DURING SEASON 2020 - 2021. IN SUPPORT OF THIS PROGRAM THE ORGANIZATION RECEIVED DONATIONS OF SERVICES AND USE OF FACILITIES WITH A TOTAL VALUE OF $374,000. AMONG IN-KIND DONATIONS WERE FACILITY RENTS, ADVERTISING, PRINTING, VIDEO PRODUCTION, ACCOUNTING AND TAX SERVICES, MARKETING AND IT SERVICES, AS WELL AS HOTEL LODGING AND AIRLINE TICKETS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eduardo Marturet Director | OfficerTrustee | 40 | $246,000 |
Rafael Diaz-Balart Chairman | OfficerTrustee | 2.5 | $0 |
Robert Rodriguez Vice-Chairman | OfficerTrustee | 2.5 | $0 |
Pedro J Torres Director | OfficerTrustee | 0.5 | $0 |
Fernando Duprat Director | OfficerTrustee | 2.5 | $0 |
Eduardo Sarasola Treasurer | OfficerTrustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $423,458 |
| All other contributions, gifts, grants, and similar amounts not included above | $519,424 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $942,882 |
| Total Program Service Revenue | $10,258 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,160,089 |
| 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. | $168,725 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,828 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,593 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $560 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,853 |
| Office expenses | $15,147 |
| Information technology | $1,038 |
| Royalties | $0 |
| Occupancy | $19,394 |
| Travel | $2,944 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $81,372 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,334 |
| Insurance | $242 |
| All other expenses | $0 |
| Total functional expenses | $797,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120,176 |
| 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 | $70 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,716 |
| Total assets | $154,962 |
| Accounts payable and accrued expenses | $270,344 |
| 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 | $1,270,651 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $5,014 |
| Other liabilities | $950,904 |
| Total liabilities | $2,496,913 |
| Net assets without donor restrictions | $0 |
| 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 | -$2,341,951 |
| Total liabilities and net assets/fund balances | $154,962 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Miami Symphony Orchestra Inc has recieved totaling $111,609.
| Awarding Organization | Amount |
|---|---|
Park Family Foundation Cleveland, OH PURPOSE: CHARITBLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $100,000 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: ARTS AND CULTURE | $10,000 |
Bruce Weber Nan Bush Foundation Inc Golden Beach, FL PURPOSE: GENERAL | $1,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $109 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jacksonville Symphony Association Jacksonville, FL | $14,561,376 | $11,991,040 |
Florida Orchestra Inc St Petersburg, FL | $17,821,899 | $8,292,788 |
Florida West Coast Symphony Inc Sarasota, FL | $33,277,421 | $26,320,822 |
The Orlando Philharmonic Orchestra Inc Orlando, FL | $6,944,219 | $4,632,792 |
Alabama Symphonic Association Inc Birmingham, AL | $2,772,905 | $5,743,069 |
The Palm Beach Symphony Society Inc West Palm Beach, FL | $3,120,506 | $3,215,175 |
Augusta Symphony Inc Augusta, GA | $19,725,932 | $3,708,047 |
Mobile Symphony Inc Mobile, AL | $1,270,022 | $2,012,590 |
Ocala Symphony Orchestra Inc Ocala, FL | $5,499,997 | $3,987,306 |
Venice Symphony Inc Venice, FL | $3,987,388 | $2,493,315 |
All Florida Youth Orchestra Hollywood, FL | $1,150,725 | $1,869,716 |
Huntsville Symphony Orchestra Association Huntsville, AL | $930,453 | $1,719,039 |