New Bedford Symphony Orchestra Association Inc
- Assets
- $4.9m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 141
- Location
- New Bedford, MA
- Founding
- 03/1958
- Data as of
- 08/2022
- EIN
- 04-2658082
Organization Overview
New Bedford Symphony Orchestra Association Inc is located in New Bedford, MA. The organization was established in 1958. 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 08/2022, New Bedford Symphony Orchestra Association Inc employed 141 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Bedford Symphony Orchestra Association 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 08/2022, New Bedford Symphony Orchestra Association Inc generated $2.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $1.5m during the year ending 08/2022. While expenses have increased by 5.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE NEW BEDFORD SYMPHONY ORCHESTRA IS TO PLACE THE WORLD'S FINEST SYMPHONIC MUSIC AT THE CENTER OF THE CULTURAL LIFE OF THE SOUTH COAST AND TO WORK WITH OTHERS TO BRING CLASSICAL AND OTHER MUSIC INTO THE LIVES OF EVERYONE IN THEIR COMMUNITY. THE ORGANIZATION ENRICHES THE LIVES OF ADULTS AND CHILDREN THROUGH THE TRANSFORMING POWER OF GREAT MUSIC. THE ORGANIZATION PRESENTS PASSIONATE AND ENGAGING CONCERTS AT THE HIGHEST LEVEL OF PROFESSIONAL STANDARDS AND PROVIDES EDUCATIONAL PROGRAMS FOR PEOPLE OF ALL AGES THAT DEEPEN THEIR ENJOYMENT OF MUSIC AND MAKE IT A PART OF THEIR DAILY LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEW BEDFORD SYMPHONY IS A PROFESSIONAL ORCHESTRA THAT PERFORMS A CONCERT SEASON WITH GUEST ARTISTS FROM AROUND THE WORLD. NBSO MUSICIANS ALSO PRESENT DOZENS OF SMALL ENSEMBLE PERFORMANCES EVERY YEAR THROUGHOUT THE SOUTH COAST.
NBSO EDUCATIONAL PROGRAMS SERVED APPROXIMATELY 10,000 CHILDREN THROUGH (1) LEARNING IN CONCERT: AN INTERACTIVE CONCERT BY NBSO MUSICIANS IN LOCAL SCHOOLS; (2) YOUNG PEOPLE'S CONCERTS: STUDENTS ATTENDING A SPECIAL NBSO CHILDREN'S CONCERT AT THE Z; AND (3) NEW BEDFORD SYMPHONY YOUTH ORCHESTRA: STUDENT MUSICIANS PLAYING IN FOUR ENSEMBLES RANGING FROM BEGINNERS TO ADVANCED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Prentiss President/ceo | Officer | 40 | $127,209 |
Susan Leclair Clerk | OfficerTrustee | 2 | $0 |
Geoff Swett Treasurer | OfficerTrustee | 2 | $0 |
Sandria R Parsons Trustee/board Chair | OfficerTrustee | 2 | $0 |
Dorothy Heath Trustee | Trustee | 2 | $0 |
Robert Booth Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,900 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,366,370 |
| Noncash contributions included in lines 1a–1f | $38,843 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,371,270 |
| Total Program Service Revenue | $299,050 |
| Investment income | $71,268 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$21,493 |
| Net Income from Fundraising Events | $103,526 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,823,621 |
| 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. | $125,271 |
| Compensation of current officers, directors, key employees. | $31,318 |
| Compensation to disqualified persons | $320,247 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,334 |
| Payroll taxes | $38,683 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $46,314 |
| Advertising and promotion | $52,552 |
| Office expenses | $29,767 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,849 |
| Travel | $59,694 |
| 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 | $8,930 |
| Insurance | $15,491 |
| All other expenses | $126,186 |
| Total functional expenses | $1,467,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120,309 |
| Savings and temporary cash investments | $30,164 |
| Pledges and grants receivable | $0 |
| 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 | $33,958 |
| Net Land, buildings, and equipment | $33,593 |
| Investments—publicly traded securities | $4,647,383 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,865,407 |
| Accounts payable and accrued expenses | $17,486 |
| Grants payable | $0 |
| Deferred revenue | $207,050 |
| 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 | $224,536 |
| Net assets without donor restrictions | $2,093,422 |
| Net assets with donor restrictions | $2,547,449 |
| 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 | $4,865,407 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that New Bedford Symphony Orchestra Association Inc has recieved totaling $481,030.
| Awarding Organization | Amount |
|---|---|
Bny Mellon Charitable Gift Fund Boston, MA PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $200,000 |
Klarman Family Foundation Boston, MA PURPOSE: FUNDER COLLABORATIONS AND BOLD BETS: UNRESTRICTED OPERATING SUPPORT FOR FISCAL YEARS 2022, 2023, AND 2024, AS A PART OF THE BARR-KLARMAN MASSACHUSETTS ARTS INITIATIVE (RAPID RESPONSE) | $92,500 |
Southcoast Community Foundation Inc New Bedford, MA PURPOSE: GENERAL OPERATING SUPPORT; LEARNING IN CONCERT | $74,530 |
Barr Foundation Boston, MA PURPOSE: ARTS & CREATIVITY: TO SUPPORT PARTICIPATION IN YEARS 4-6 OF THE BARR KLARMAN MASSACHUSETTS ARTS INITIATIVE | $59,000 |
Klarman Family Foundation Boston, MA PURPOSE: FUNDER COLLABORATIONS AND BOLD BETS: UNRESTRICTED OPERATING SUPPORT FOR FISCAL YEARS 2022, 2023, AND 2024, AS A PART OF THE BARR-KLARMAN MASSACHUSETTS ARTS INITIATIVE (RAPID RESPONSE) | $55,000 |
Endowment Analysis
| Beg. Balance | $2,062,278 |
| Net Contributions | $9,184 |
| Ending Balance | $2,071,462 |
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 |