Syracuse Symphony Foundation Inc
- Assets
- $12.4m
- Revenue
- $264.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Syracuse, NY
- Founding
- 01/1978
- Data as of
- 08/2022
- EIN
- 22-2172591
Organization Overview
Syracuse Symphony Foundation Inc is located in Syracuse, NY. The organization was established in 1978. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. Syracuse Symphony Foundation 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, Syracuse Symphony Foundation Inc generated $264.4k 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 (3.5%) each year. All expenses for the organization totaled $487.3k during the year ending 08/2022. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Syracuse Symphony Foundation Inc has awarded 28 individual grants totaling $2,882,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION INVESTS AND MANAGES FUNDS AND ASSETS FOR THE PURPOSE OF SUPPORTING THE PRESENTATION OF SYMPHONY ORCHESTRA MUSIC IN THE CENTRAL NEW YORK REGION, INITIALLY THE SUPPORT OF THE ACTIVITIES OF THE SYRACUSE SYMPHONY ORCHESTRA, INC. AS A FULL-TIME PROFESSIONAL SYMPHONY ORCHESTRA. THE FOUNDATION CURRENTLY ONLY SUPPORTS MUSICAL ASSOCIATES OF CENTRAL NEW YORK, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO OTHER NON-PROFIT ORGANIZATIONS TO SUPPORT SYMPHONY MUSIC IN CENTRAL NEW YORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David A A Ridings Chairman | OfficerTrustee | 1 | $0 |
Alice Kendrick Secretary | OfficerTrustee | 1 | $0 |
Stephen Chase Treasurer | OfficerTrustee | 1 | $0 |
Gary Grossman Director | Trustee | 1 | $0 |
Elsa Soderberg Director | Trustee | 1 | $0 |
Bill Byrne Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $264,420 |
| 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 | $264,420 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $435,749 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,550 |
| Fees for services: Accounting | $4,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,520 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $1,722 |
| All other expenses | $0 |
| Total functional expenses | $487,291 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $335,196 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $12,069,902 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,570 |
| Total assets | $12,429,668 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $12,429,668 |
| 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 | $12,429,668 |
Grants Awarded
Over the last fiscal year, Syracuse Symphony Foundation Inc has awarded $1,038,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Syracuse, NY PURPOSE: OPERATIONS GRANT | $519,000 |
Syracuse, NY PURPOSE: OPERATIONS GRANT | $519,000 |
Endowment Analysis
| Beg. Balance | $14,257,499 |
| Earnings | -$1,340,540 |
| Admin Expense | $51,542 |
| Grants | $435,749 |
| Ending Balance | $12,429,688 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Friends Of The Israel Museum New York, NY | $210,139,805 | $22,216,217 |
Friends Of Bezalel Academy Of Arts And Designs Inc New York, NY | $2,039,900 | $22,554,800 |
The Friends Of The Israel Antiquities Authority Inc New York, NY | $7,188,185 | $4,799,124 |
Tate Americas Foundation New York, NY | $101,513,410 | $8,735,378 |
Museo Reina Sofia Foundation Usa Inc New York, NY | $1,828,282 | $604,276 |
American Associates Of The National Theatre Inc New York, NY | $4,697,341 | $5,678,751 |
American Friends Of The Israel Philharmonic Orchestra Inc New York, NY | $30,416,918 | $8,529,001 |
Mary Louise Curtis Bok Foundation Philadelphia, PA | $100,159,634 | $12,712,681 |
American Friends Of The Louvre Inc New York, NY | $14,733,047 | $4,946,706 |
Pbs39 Foundation Corporation Bethlehem, PA | $103,089,426 | $11,164,328 |
American Friends Of The National Portrait Gallery Foundation Inc New York, NY | $1,343,323 | $3,284,122 |
Academy Of Music Of Philadelphia Inc Philadelphia, PA | $30,910,650 | $3,266,946 |