Rockford Symphony Orchestras Inc
- Assets
- $407.4k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 132
- Location
- Rockford, IL
- Founding
- 10/1945
- Data as of
- 06/2020
- EIN
- 36-6109375
Organization Overview
Rockford Symphony Orchestras Inc is located in Rockford, IL. 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 06/2022, Rockford Symphony Orchestras Inc employed 132 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rockford Symphony Orchestras 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 06/2020, Rockford Symphony Orchestras Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $1.2m during the year ending 06/2020. While expenses have increased by 0.8% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
SYMPHONY ORCHESTRAS - THE ORCHESTRAS PRODUCE A SERIES OF CONCERTS EACH SEASON. THE ORCHESTRAS MISSION IS TO LEAD IN THE CREATION OF VIBRANT MUSIC EXPERIENCES THAT ENLIGHTEN, EDUCATE AND ENTERTAIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SYMPHONY AND OTHER RELATED PERFORMANCES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Thomas Executive Di | Officer | 40 | $72,450 |
Joseph Mccoy Imm. Past Pr | OfficerTrustee | 3 | $0 |
Tami Gaudreau Secretary | OfficerTrustee | 3 | $0 |
Ethan Zentz Treasurer | OfficerTrustee | 3 | $0 |
Colin Peterson President | OfficerTrustee | 3 | $0 |
Thomas Sandquist Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $651,300 |
| Investment income | $5,741 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$894 |
| Net Income from Fundraising Events | $115,222 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $454 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,218,204 |
| Statement of Expenses | |
|---|---|
| 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. | $69,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $509,889 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $40,842 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,356 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $53,322 |
| Office expenses | $58,941 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $87,719 |
| Travel | $32,516 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,322 |
| Interest | $11,743 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,926 |
| Insurance | $40,586 |
| All other expenses | $0 |
| Total functional expenses | $1,191,980 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,034 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $18,765 |
| 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 | $1,117 |
| Prepaid expenses and deferred charges | $10,000 |
| Investments—publicly traded securities | $276,123 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $407,372 |
| Accounts payable and accrued expenses | $4,413 |
| Grants payable | $0 |
| Deferred revenue | $240,645 |
| 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 | $213,171 |
| Total liabilities | $458,229 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | -$50,857 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rockford Symphony Orchestras Inc has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Gloyd Family Foundation Peoria, IL PURPOSE: PROGRAMS | $2,500 |
Endowment Analysis
| Beg. Balance | $448,184 |
| Earnings | -$72,100 |
| Admin Expense | $3,361 |
| Net Contributions | $100,000 |
| Ending Balance | $472,723 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kansas City Symphony Kansas City, MO | $64,822,369 | $17,397,853 |
Milwaukee Symphony Orchestra Inc Milwaukee, WI | $122,941,209 | $33,243,126 |
Saint Louis Symphony Endowment Trust Saint Louis, MO | $280,111,729 | $18,922,089 |
Indiana Symphony Society Inc Indianapolis, IN | $13,063,766 | $26,550,940 |
The Louisville Orchestra Inc Louisville, KY | $7,756,568 | $11,516,592 |
Fort Wayne Philharmonic Orchestra Inc Fort Wayne, IN | $27,926,694 | $5,947,084 |
Madison Symphony Orchestra Inc Madison, WI | $6,807,074 | $3,792,114 |
Des Moines Symphony Association Des Moines, IA | $12,208,795 | $2,653,432 |
Milwaukee Youth Symphony Orchestra Inc Milwaukee, WI | $9,958,210 | $2,491,222 |
Elgin Symphony Orchestra Assoc Elgin, IL | $718,957 | $2,098,094 |
Quad City Symphony Orchestra Association Davenport, IA | $1,491,842 | $2,535,869 |
Wisconsin Chamber Orchestra Inc Madison, WI | $6,414,052 | $3,173,196 |