New Jersey Symphony Orchestra
- Assets
- $12.6m
- Revenue
- $12.9m
- Investments
- $0.0
- Employees
- 271
- Location
- Newark, NJ
- Founding
- 03/1944
- Data as of
- 08/2022
- EIN
- 22-1559422
Organization Overview
New Jersey Symphony Orchestra is located in Newark, NJ. The organization was established in 1944. 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 Jersey Symphony Orchestra employed 271 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Jersey 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 08/2022, New Jersey Symphony Orchestra generated $12.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $13.7m during the year ending 08/2022. While expenses have increased by 1.8% 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
TO CONNECT WITH THE PEOPLE AND DIVERSE COMMUNITIES OF NEW JERSEY THROUGH THE POWER OF LIVE MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEW JERSEY SYMPHONY IS THE LARGEST PERFORMING ARTS ORGANIZATION IN THE STATE AND IS DEDICATED TO PROVIDING WORLD-CLASS ORCHESTRAL PERFORMANCES THROUGHOUT NEW JERSEY, AND NOW ALSO WELL BEYOND ITS BORDERS, THROUGH AN EXCITING AND EXPANDING CATALOG OF DIGITAL AND MULTIMEDIA CONTENT. THE SYMPHONY IS DEEPLY CONNECTED TO ITS SURROUNDING COMMUNITIES THROUGH NUMEROUS AND DIVERSE EDUCATIONAL AND COMMUNITY ENGAGEMENT ACTIVITIES. THESE ACTIVITIES SPAN NEARLY ALL COUNTIES OF NEW JERSEY. IN A TYPICAL SEASON, THE SYMPHONY ENGAGES MORE THAN 150,000 PEOPLE IN PERSON, INCLUDING 40,000 CHILDREN, AND IN ADDITION THE SYMPHONY HAS MADE OVER 11 MILLION ONLINE IMPRESSIONS IN THE PAST YEAR ALONE, GREATLY EXPANDING OUR REACH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gabriel Van Aalst President & CEO | OfficerTrustee | 35 | $348,813 |
Xian Zhang Music Director | 35 | $217,219 | |
Jonathan Gossett VP Of Development | Officer | 35 | $184,604 |
James Houghton CFO | Officer | 35 | $147,381 |
Eric Wyrick Concert Master | 35 | $123,685 | |
Geoff Cohen VP Of Marketing | Officer | 35 | $120,912 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $554,084 |
| Related organizations | $0 |
| Government grants | $2,682,393 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,143,168 |
| Noncash contributions included in lines 1a–1f | $29,805 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,379,645 |
| Total Program Service Revenue | $2,324,829 |
| Investment income | $47,127 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $163,339 |
| Net Income from Fundraising Events | $2,936 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,910,552 |
| 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. | $1,199,721 |
| Compensation of current officers, directors, key employees. | $131,418 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,711,536 |
| Pension plan accruals and contributions | $427,921 |
| Other employee benefits | $1,292,802 |
| Payroll taxes | $801,267 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $39,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $87,453 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $958,623 |
| Advertising and promotion | $569,649 |
| Office expenses | $358,736 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $808,706 |
| Travel | $419,631 |
| 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 | $112,055 |
| Insurance | $89,210 |
| All other expenses | $13,149 |
| Total functional expenses | $13,685,246 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $489,312 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,747,044 |
| Accounts receivable, net | $171,630 |
| 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 | $382,330 |
| Net Land, buildings, and equipment | $376,355 |
| Investments—publicly traded securities | $8,304,280 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $163,461 |
| Total assets | $12,634,412 |
| Accounts payable and accrued expenses | $923,667 |
| Grants payable | $0 |
| Deferred revenue | $1,920,648 |
| 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 | $46,840 |
| Total liabilities | $2,891,155 |
| Net assets without donor restrictions | -$2,182,846 |
| Net assets with donor restrictions | $11,926,103 |
| 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 | $12,634,412 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Jersey Symphony Orchestra has recieved totaling $1,400.
| Awarding Organization | Amount |
|---|---|
Joan M & Russell C Jordan Foundation Midland Park, NJ PURPOSE: GENERAL PURPOSES | $1,400 |
Endowment Analysis
| Beg. Balance | $8,507,969 |
| Earnings | -$389,693 |
| Net Contributions | $3,157,185 |
| Other Expense | $1,561,181 |
| Ending Balance | $9,714,280 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Philadelphia Orchestra Association Philadelphia, PA | $211,538,479 | $41,118,272 |
Pittsburgh Symphony Inc Pittsburgh, PA | $194,466,393 | $30,739,984 |
New Jersey Symphony Orchestra Newark, NJ | $12,634,412 | $12,910,552 |
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 |
Orpheus Chamber Orchestra Inc New York, NY | $1,908,737 | $3,345,104 |
Musical Associates Of Central New York Inc Syracuse, NY | $3,413,784 | $4,180,183 |
Harrisburg Symphony Association Harrisburg, PA | $13,261,535 | $3,046,479 |
Allentown Symphony Association Inc Allentown, PA | $15,521,853 | $2,408,487 |
Albany Symphony Orchestra Inc Albany, NY | $12,413,747 | $2,273,007 |
Philadelphia Youth Orchestra Philadelphia, PA | $1,696,190 | $1,961,434 |
Princeton Symphony Orchestra Inc Princeton, NJ | $11,470,025 | $3,029,525 |