Springfield Symphony Orchestra
- Assets
- $7.7m
- Revenue
- $1.2m
- Investments
- $650.7k
- Employees
- 30
- Location
- Springfield, MA
- Founding
- 07/1945
- Data as of
- 05/2022
- 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 05/2022, Springfield Symphony Orchestra employed 30 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 05/2022, Springfield Symphony Orchestra generated $1.2m 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 (5.9%) each year. All expenses for the organization totaled $1.1m during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (8.7%) per year over the past 7 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
2022
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 |
|---|---|---|---|
John Anz Interim Executive Director | Trustee | 50 | $77,412 |
Paul Friedman Vice President/treasurer | OfficerTrustee | 5 | $0 |
Ronald Weiss Clerk And General Counsel | OfficerTrustee | 5 | $0 |
Anthony Falcetti President And Chair-Management Committee | OfficerTrustee | 5 | $0 |
Robyn Newhouse Chair-Bod | OfficerTrustee | 5 | $0 |
Peter Thomsen Vice President- Education And Programming | OfficerTrustee | 5 | $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 | $77 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $977,477 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $977,554 |
| Total Program Service Revenue | $69,659 |
| Investment income | $138,865 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,188,178 |
| 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. | $77,412 |
| Compensation of current officers, directors, key employees. | $15,869 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $324,810 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,916 |
| Payroll taxes | $49,744 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $306,316 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,152 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,028 |
| Office expenses | $83,952 |
| Information technology | $351 |
| Royalties | $0 |
| Occupancy | $60,370 |
| Travel | $22,336 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $552 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,715 |
| Insurance | $7,269 |
| All other expenses | $9,096 |
| Total functional expenses | $1,084,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,500 |
| Savings and temporary cash investments | $205,516 |
| Pledges and grants receivable | $100,000 |
| 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 | $3,202 |
| Net Land, buildings, and equipment | $16,258 |
| Investments—publicly traded securities | $6,758,637 |
| Investments—other securities | $650,744 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,735,857 |
| Accounts payable and accrued expenses | $75,861 |
| 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 | $75,861 |
| Net assets without donor restrictions | $1,828,863 |
| Net assets with donor restrictions | $5,831,133 |
| 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 | $7,735,857 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Springfield Symphony Orchestra has recieved totaling $51,792.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Western Massachusetts Springfield, MA PURPOSE: ARTS & CULTURE | $45,510 |
Beveridge Family Foundation Inc West Newbury, MA PURPOSE: 2021 QUALIFIED DISCRETIONARY DISTRIBUTION | $5,000 |
Milton Hart Foundation Inc Boca Raton, FL PURPOSE: GENERAL USE | $1,250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $32 |
Endowment Analysis
| Beg. Balance | $7,548,232 |
| Earnings | -$492,084 |
| Other Expense | $297,511 |
| Ending Balance | $6,758,637 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buffalo Philharmonic Orchestra Society Inc Buffalo, NY | $15,185,404 | $13,394,584 |
Rochester Philharmonic Orchestra Inc Rochester, NY | $20,757,567 | $7,702,051 |
Rhode Island Philharmonic Orchestra & Music School East Providence, RI | $15,804,954 | $5,398,910 |
Cape Arts & Entertainment Inc West Barnstable, MA | $10,466,895 | $5,101,262 |
Orpheus Chamber Orchestra Inc New York, NY | $1,908,737 | $3,345,104 |
Boston Youth Symphony Orchestra Inc Boston, MA | $8,731,148 | $5,999,512 |
Hartford Symphony Orchestra Inc Hartford, CT | $12,831,218 | $4,378,736 |
Musical Associates Of Central New York Inc Syracuse, NY | $3,413,784 | $4,180,183 |
New Haven Symphony Orchestra Inc New Haven, CT | $4,780,690 | $3,191,138 |
Stamford Symphony Orchestra Inc Stamford, CT | $4,591,882 | $2,087,618 |
Albany Symphony Orchestra Inc Albany, NY | $12,413,747 | $2,273,007 |
Vermont Symphony Orchestra Inc Burlington, VT | $6,301,057 | $2,290,759 |