Springfield Symphony Orchestra
- Assets
- $6.8m
- Revenue
- $1.4m
- Investments
- $671.3k
- Employees
- 170
- Location
- Springfield, MA
- Founding
- 07/1945
- Data as of
- 05/2023
- EIN
- 04-2210746
Organization Overview
Springfield Symphony Orchestra is located in Springfield, MA. The organization was established in 1945. 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 05/2023, Springfield Symphony Orchestra employed 170 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Springfield Symphony Orchestra 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, Springfield Symphony Orchestra generated $1.4m 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 (3.3%) each year. All expenses for the organization totaled $1.9m during the year ending 05/2023. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO MAINTAIN AND DEVELOP A PROFESSIONAL SYMPHONY ORCHESTRA THAT PRODUCES PERFORMANCES OF HIGH ARTISTIC QUALITY THAT EDUCATE AND ENTERTAIN AUDIENCES OF ALL AGES, OPERATE A VOLUNTEER CHORUS, AND PROVIDE MUSICAL PERFORMAN
Describe the Organization's Program Activity:
Part 3 - Line 4a
SSO PRESENTS PROGRAMS OF CLASSICAL AND POPULAR MUSIC IN-SCHOOL EDUCATIONAL PRESENTATIONS, YOUTH CONCERTS FOR ELEMENTARY STUDENTS SPONSORS YOUTH ORCHESTRA AND INSTRUMENT PETTING ZOO AND VOLUNTEER CHORUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Lambert President CEO | Officer | 40 | $104,308 |
Marsha Harbison Director | Trustee | 1 | $7,888 |
Anthony Falcetti Director | Trustee | 1 | $0 |
Paul Friedmann Chair | OfficerTrustee | 1 | $0 |
Margaret Mantoni Treasurer | OfficerTrustee | 1 | $0 |
Ronald Weiss Clerk | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Proskauer Rose Llp Legal Services | 5/30/22 | $131,916 |
Sullivan Hayes & Quinn Llc Legal Services | 5/30/22 | $156,408 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $100,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $437,522 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $537,522 |
| Total Program Service Revenue | $394,692 |
| Investment income | $107,359 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $336,981 |
| Net Income from Fundraising Events | $3,336 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,387,741 |
| 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. | $104,308 |
| Compensation of current officers, directors, key employees. | $18,817 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $776,467 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,894 |
| Payroll taxes | $67,963 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $130,200 |
| Fees for services: Accounting | $22,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,244 |
| Advertising and promotion | $89,070 |
| Office expenses | $128,711 |
| Information technology | $730 |
| Royalties | $0 |
| Occupancy | $72,625 |
| Travel | $86,383 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $145 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,388 |
| Insurance | $14,304 |
| All other expenses | $51,989 |
| Total functional expenses | $1,869,582 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,500 |
| Savings and temporary cash investments | $54,924 |
| Pledges and grants receivable | $34,805 |
| 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 | $6,547 |
| Net Land, buildings, and equipment | $26,276 |
| Investments—publicly traded securities | $6,010,967 |
| Investments—other securities | $671,293 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,806,312 |
| Accounts payable and accrued expenses | $129,698 |
| Grants payable | $0 |
| Deferred revenue | $17,500 |
| 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 | $147,198 |
| Net assets without donor restrictions | $1,069,129 |
| Net assets with donor restrictions | $5,589,985 |
| 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 | $6,806,312 |