Sun Valley Summer Symphony Inc
- Assets
- $20.6m
- Revenue
- $5.9m
- Investments
- $204.9k
- Employees
- 44
- Location
- Sun Valley, ID
- Founding
- 10/1985
- Data as of
- 10/2023
- EIN
- 82-0397940
Organization Overview
Sun Valley Summer Symphony Inc, operating under the name Sun Valley Music Festival, is located in Sun Valley, ID. The organization was established in 1985. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 10/2023, Sun Valley Music Festival employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sun Valley Music Festival 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 10/2023, Sun Valley Music Festival generated $5.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $4.7m during the year ending 10/2023. While expenses have increased by 4.5% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INSTILL IN OUR COMMUNITY A LIFELONG LOVE OF CLASSICAL MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUMMER SEASON: EACH SUMMER, THE ORGANIZATION BRINGS MUSICIANS AND GUEST ARTISTS TO SUN VALLEY TO PRESENT A SERIES OF CLASSICAL MUSIC CONCERTS. OVER 100 MUSICIANS FORM THE FESTIVAL ORCHESTRA, LED BY MUSIC DIRECTOR ALASDAIR NEALE. THE CONCERTS ARE PRESENTED AT THE SUN VALLEY PAVILION. ALL CONCERTS - EXCEPT THE FUNDRAISING GALA - ARE PRESENTED FREE OF CHARGE TO THE PUBLIC. EACH SUMMER, OVER 50,000 PEOPLE ATTEND UP TO 15 FREE CONCERTS.
EDUCATION: THE FESTIVAL'S MUSIC INSTITUTE RUNS MUSIC EDUCATION PROGRAMS DURING THE SCHOOL YEAR IN CONJUNCTION WITH LOCAL PUBLIC SCHOOLS AND, IN ADDITION, RUNS TWO SUMMER CAMPS DURING THE FESTIVAL'S SUMMER SEASON. SCHOOL-YEAR PROGRAMS SERVE STUDENTS IN LOCAL PUBLIC AND PRIVATE ELEMENTARY, MIDDLE, AND HIGH SCHOOLS IN PARTNERSHIP WITH MUSIC TEACHERS IN THESE SCHOOLS. THE MUSIC INSTITUTE OFFERS COMPREHENSIVE MUSIC EDUCATION INCLUDING MUSIC THEORY AND ENSEMBLE AND INDIVIDUAL INSTRUCTION. THE SUMMER PROGRAMS OFFER MUSIC EDUCATION FOR CHILDREN IN GRADES 2-12 IN A ONE-WEEK PROGRAM, AND FOR ADVANCED STUDENTS IN A TWO-WEEK ADVANCED CHAMBER PROGRAM. ALL SUMMER PROGRAMS INVOLVE MUSICIANS FROM THE FESTIVAL ORCHESTRA, AS WELL AS GUEST ARTISTS.
WINTER SEASON: THE MUSIC FESTIVAL PRESENTS A WINTER CONCERT SERIES IN FEBRUARY OR MARCH. PAST FESTIVALS HAVE PRESENTED THREE OR FOUR CONCERTS - ALL FREE OF CHARGE- WITH PERFORMERS INCLUDING MUSICIANS FROM THE FESTIVAL ORCHESTRA AS WELL AS GUEST ARTISTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Judy Getto President | OfficerTrustee | 1.2 | $0 |
Jane Springman Vice President | OfficerTrustee | 0.5 | $0 |
Deb Mello Treasurer | OfficerTrustee | 0.7 | $0 |
Tony Price Secretary | OfficerTrustee | 0.9 | $0 |
Mitch August Director | Trustee | 0.5 | $0 |
Jim Daniels Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $402,495 |
| Related organizations | $0 |
| Government grants | $258,358 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,381,234 |
| Noncash contributions included in lines 1a–1f | $172,112 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,042,087 |
| Total Program Service Revenue | $147,879 |
| Investment income | $549,733 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $346,256 |
| Net Income from Fundraising Events | -$205,342 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,896,340 |
| 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. | $351,256 |
| Compensation of current officers, directors, key employees. | $65,685 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,143,263 |
| Pension plan accruals and contributions | $39,814 |
| Other employee benefits | $86,488 |
| Payroll taxes | $99,889 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $765 |
| Fees for services: Accounting | $65,576 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $62,463 |
| Fees for services: Other | $1,446,579 |
| Advertising and promotion | $173,730 |
| Office expenses | $228,614 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,049 |
| Travel | $512,056 |
| 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 | $164,848 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,710,978 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,351 |
| Savings and temporary cash investments | $306,958 |
| Pledges and grants receivable | $76,997 |
| Accounts receivable, net | $2,227 |
| 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 | $35,517 |
| Net Land, buildings, and equipment | $2,878,340 |
| Investments—publicly traded securities | $13,968,235 |
| Investments—other securities | $204,904 |
| Investments—program-related | $0 |
| Intangible assets | $3,000,000 |
| Other assets | $0 |
| Total assets | $20,629,529 |
| Accounts payable and accrued expenses | $136,146 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $136,146 |
| Net assets without donor restrictions | $19,124,007 |
| Net assets with donor restrictions | $1,369,376 |
| 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 | $20,629,529 |