Dallas Symphony Foundation
- Assets
- $137.4m
- Revenue
- $9.3m
- Investments
- $21.3m
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 01/1977
- Data as of
- 05/2023
- 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 05/2023, Dallas Symphony Foundation generated $9.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (17.7%) each year. All expenses for the organization totaled $9.2m during the year ending 05/2023. 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
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, 2023, THE FOUNDATION DISTRIBUTED $8,597,412 TO THE ASSOCIATION AS THE ANNUAL DISTRIBUTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harold M Brierley Board Member | Trustee | 0 | $0 |
Cherryl Peterman Board Member - Treasurer | OfficerTrustee | 0 | $0 |
Coley Clark Board Member - President | OfficerTrustee | 0 | $0 |
Joseph F Hubach Board Member - Vice President | OfficerTrustee | 0 | $0 |
John Dayton Board Member | Trustee | 0 | $0 |
Linda Mcfarland Board Member | Trustee | 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 | $2,387,833 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,387,833 |
| Total Program Service Revenue | $0 |
| Investment income | $3,085,916 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,788,330 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,262,079 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,597,412 |
| 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 | $9,218,026 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,105,176 |
| Accounts receivable, net | $262,966 |
| 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 | $114,390,558 |
| Investments—other securities | $21,337,247 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $300,944 |
| Total assets | $137,396,891 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $200,845 |
| 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 | $200,845 |
| Net assets without donor restrictions | $4,674,066 |
| Net assets with donor restrictions | $132,521,980 |
| 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 | $137,396,891 |
Grants Awarded
Over the last fiscal year, Dallas Symphony Foundation has awarded $10,492,757 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DALLAS SYMPHONY ASSOCIATION PURPOSE: Operations, support | $6,992,757 |
DALLAS SYMPHONY ASSOCIATION PURPOSE: special distribution of principal under Sect 3.3 of the Endowment agreement | $3,500,000 |