Kennett Symphony Of Chester County
- Assets
- $196.0k
- Revenue
- $254.7k
- Investments
- $156.0k
- Employees
- 108
- Location
- Kennett Square, PA
- Founding
- 11/1977
- Data as of
- 08/2023
- EIN
- 23-2017980
Organization Overview
Kennett Symphony Of Chester County is located in Kennett Square, PA. The organization was established in 1977. 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 08/2023, Kennett Symphony Of Chester County employed 108 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kennett Symphony Of Chester County 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 08/2023, Kennett Symphony Of Chester County generated $254.7k 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 (3.9%) each year. All expenses for the organization totaled $377.5k during the year ending 08/2023. 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
THE SYMPHONY IS A PROFESSIONAL REGIONAL ORCHESTRA SERVING GREATER CHESTER COUNTY AND ITS GEOGRAPHIC NEIGHBORS. THE SYMPHONY'S MISSION IS TO: (A) PRESENT A WIDE RANGE OF SYMPHONIC MUSIC AT AN AFFORDABLE PRICE TO ENTERTAIN AND ENRICH THE LIVES OF OUR AUDIENCE; (B) ENGAGE AND EDUCATE YOUNG AND UNDERSERVED AUDIENCES; AND (C) PROVIDE OPPORTUNITIES FOR YOUNG ARTISTS, MUSICIANS, AND COMPOSERS THROUGH COMPETITIONS AND PERFORMANCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FISCAL YEAR ENDED AUGUST 31, 2023 WAS THE SYMPHONY'S SECOND RETURN TO PERFORMANCE SINCE THE START OF THE COVID-19 PANDEMIC. IN FISCAL YEAR ENDED AUGUST 31, 2023, THE SYMPHONY HELD 5 CONCERTS BETWEEN NOVEMBER 2022 AND JUNE 2023 IN ORDER TO ACCOMODATE CHANGES IN AUDIENCE BEHAVIOR AND SLOWER- THAN-EXPECTED AUDIENCE RETURN TO INDOOR PERFORMANCES. TYPICALLY, NEARLY 100 STUDENTS PARTICIPATE IN THE KENNETT SYMPHONY CHILDREN'S CHORUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Hall Music Direct | Trustee | 40 | $29,154 |
Kathryn B Knox Acfre Director | Trustee | 8 | $0 |
Katherine Ball-Weir Director | Trustee | 2 | $0 |
Rhonda Cook Secretary | OfficerTrustee | 3 | $0 |
Kathryn Listerman CPA Treasurer | OfficerTrustee | 5 | $0 |
Geoffrey Mccarthy JD Ctfa Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $8,153 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $94,607 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $102,760 |
| Total Program Service Revenue | $133,872 |
| Investment income | $11,770 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,902 |
| Net Income from Fundraising Events | -$4,635 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $254,669 |
| 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. | $33,085 |
| Compensation of current officers, directors, key employees. | $4,094 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $136,939 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,134 |
| Payroll taxes | $19,520 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,586 |
| Fees for services: Accounting | $5,766 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $769 |
| Fees for services: Other | $2,905 |
| Advertising and promotion | $8,544 |
| Office expenses | $15,037 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,280 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,431 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,935 |
| All other expenses | $5,335 |
| Total functional expenses | $377,472 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,277 |
| Savings and temporary cash investments | $0 |
| 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 | $5,646 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $156,035 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $195,958 |
| Accounts payable and accrued expenses | $26,825 |
| Grants payable | $0 |
| Deferred revenue | $27,738 |
| 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 | $59,244 |
| Other liabilities | $7,159 |
| Total liabilities | $120,966 |
| Net assets without donor restrictions | $21,381 |
| Net assets with donor restrictions | $53,611 |
| 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 | $195,958 |