Dallas Symphony Foundation
- Assets
- $145.1m
- Revenue
- $13.0m
- Investments
- $11.3m
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 01/1977
- Data as of
- 05/2022
- EIN
- 75-1529851
Organization Overview
Dallas Symphony Foundation is located in Dallas, TX. The organization was established in 1977. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. Dallas 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, Dallas Symphony Foundation generated $13.0m 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 (16.0%) each year. All expenses for the organization totaled $10.2m during the year ending 05/2022. 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
THE DALLAS SYMPHONY FOUNDATION IS OPERATED FOR THE BENEFIT OF, AND TO FURTHER THE PURPOSES OF THE DALLAS SYMPHONY ASSOCIATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE DALLAS SYMPHONY FOUNDATION IS TO MANAGE AND INVEST AN ENDOWMENT FUND FOR THE BENEFIT OF THE DALLAS SYMPHONY ASSOCIATION (75-0705442), AND TO MAKE ANNUAL DISTRIBUTIONS TO THE DALLAS SYMPHONY ASSOCIATION FROM THIS ENDOWMENT FUND. DURING THE FISCAL YEAR ENDING MAY 31, 2022, THE FOUNDATION DISTRIBUTED $9,657,866 TO THE ASSOCIATION AS THE ANNUAL DISTRIBUTION. . THE FOUNDATION BOARD APPROVED SPECIAL DISTRIBUTIONS TOTALING $6,000,000 TO PROVIDE ADDITIONAL FINANCIAL SUPPORT TO THE ASSOCIATION DURING THE COVID-19. ON MAY 13,2021, THE FOUNDATION BOARD RESOLVED THAT THE SPECIAL DISTRIBUTIONS WERE TO BE MADE, AND TO BE USED BY THE DSA FOR ITS SUPPORT AND OPERATION AS FOLLOWS: $4 MILLION FOR THE YEAR ENDING, MAY 31,2021 $2 MILLION FOR THE YEAR ENDING, MAY 31,2022. THE $2 MILLION IS INCLUDED IN THIS RETURN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey M Robinson Board Member - Secretary | OfficerTrustee | 0 | $0 |
Brian Ratner Board Member - Vice President | OfficerTrustee | 0 | $0 |
Coley Clark Board Member - President | OfficerTrustee | 0 | $0 |
Yon Y Jorden Board Member - Vice President | OfficerTrustee | 0 | $0 |
Cherryl Peterman Board Member-Treasurer | OfficerTrustee | 0 | $0 |
Joseph F Hubach Board Member - Vice President | OfficerTrustee | 0 | $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 | $3,260,996 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,260,996 |
| Total Program Service Revenue | $0 |
| Investment income | $2,964,258 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,755,013 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,980,267 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,567,866 |
| 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 | $10,158,407 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $532,575 |
| Accounts receivable, net | $130,806 |
| 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 | $132,299,898 |
| Investments—other securities | $11,257,890 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $895,944 |
| Total assets | $145,117,113 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $73,929 |
| 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 | $73,929 |
| Net assets without donor restrictions | $3,201,772 |
| Net assets with donor restrictions | $141,841,412 |
| 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 | $145,117,113 |
Grants Awarded
Over the last fiscal year, Dallas Symphony Foundation has awarded $10,492,757 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Dallas, TX PURPOSE: Operations, support | $6,992,757 |
Dallas, TX PURPOSE: special distribution of principal under Sect 3.3 of the Endowment agreement | $3,500,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Dallas Symphony Foundation has recieved totaling $634,000.
| Awarding Organization | Amount |
|---|---|
Jeanne R Johnson Foundation Dallas, TX PURPOSE: GENERAL OPERATING | $634,000 |
Endowment Analysis
| Beg. Balance | $156,916,763 |
| Earnings | -$5,566,709 |
| Net Contributions | $3,260,996 |
| Other Expense | $9,567,866 |
| Ending Balance | $145,043,184 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arkansas Museum Of Fine Arts Foundation Little Rock, AR | $93,043,643 | $19,970,442 |
Houston Public Media Foundation Houston, TX | $3,722,035 | $15,443,011 |
World War Ii Theatre Inc New Orleans, LA | $71,080,444 | $7,985,731 |
Dallas Symphony Foundation Dallas, TX | $145,117,113 | $12,980,267 |
Fort Worth Art Association Endowment Foundation Fort Worth, TX | $167,745,649 | $12,496,724 |
Oklahoma City National Memorial Foundation Oklahoma City, OK | $43,932,179 | $4,892,726 |
The Hobby Center Foundation Houston, TX | $78,248,185 | $8,249,942 |
Friends Of Oeta Inc Oklahoma City, OK | $52,803,812 | $14,188,991 |
Admiral Nimitz Foundation Fredericksburg, TX | $24,328,747 | $7,231,861 |
Foundation For Excellence In Louisiana Public Broadcasting Baton Rouge, LA | $50,029,430 | $8,763,063 |
Museum Of New Mexico Foundation Santa Fe, NM | $51,964,866 | $8,605,972 |
Houston Symphony Endowment Houston, TX | $87,456,110 | $3,071,634 |