Midwest Fine Arts Society Inc
- Assets
- $33.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Schaumburg, IL
- Founding
- 07/2017
- Data as of
- 12/2021
- EIN
- 82-1126788
Organization Overview
Midwest Fine Arts Society Inc is located in Schaumburg, IL. The organization was established in 2017. According to its NTEE Classification (A69) the organization is classified as: Symphony Orchestras, 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. Midwest Fine Arts 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 12/2021, Midwest Fine Arts Society Inc generated $40.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (15.1%) each year. All expenses for the organization totaled $39.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.6%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
THE GENERAL PURPOSE OF THE MIDWEST FINE ARTS SOCIETY IS TO FUND THE ORCHESTRA AND MUSICAL PROGRAMS. THE PROGRAM HELPS NURTURE YOUNG MUSICIANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Decherd Member | 10 | $0 | |
Thomas T Miyano Member | 10 | $0 | |
Kazuyoshi Miyao Member | 10 | $0 | |
Scott Nowlan Member | 10 | $0 | |
Takaharu Matsunaga President | 10 | $0 | |
Craig Ghislin Member | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $955 |
| Total Program Service Revenue | $6,859 |
| Membership dues | $32,226 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $40,040 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $3,250 |
| Professional fees and other payments to independent contractors | $9,167 |
| Occupancy, rent, utilities, and maintenance | $3,300 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $23,132 |
| Total expenses | $39,499 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $18,849 |
| Other assets | $0 |
| Total assets | $33,309 |
| Total liabilities | $0 |
| Net assets or fund balances | $33,309 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indiana Symphony Society Inc Indianapolis, IN | $13,063,766 | $26,550,940 |
The Louisville Orchestra Inc Louisville, KY | $7,756,568 | $11,516,592 |
Fort Wayne Philharmonic Orchestra Inc Fort Wayne, IN | $27,926,694 | $5,947,084 |
Madison Symphony Orchestra Inc Madison, WI | $6,807,074 | $3,792,114 |
Des Moines Symphony Association Des Moines, IA | $12,208,795 | $2,653,432 |
Milwaukee Youth Symphony Orchestra Inc Milwaukee, WI | $9,958,210 | $2,491,222 |
Elgin Symphony Orchestra Assoc Elgin, IL | $718,957 | $2,098,094 |
Quad City Symphony Orchestra Association Davenport, IA | $1,491,842 | $2,535,869 |
Wisconsin Chamber Orchestra Inc Madison, WI | $6,414,052 | $3,173,196 |
South Bend Symphony Orchestra Association Inc South Bend, IN | $11,276,810 | $2,188,431 |
Chicago Youth Symphony Orchestras Chicago, IL | $1,118,972 | $1,807,296 |
Evansville Philharmonic Orchestra Evansville, IN | $4,262,599 | $1,905,675 |