Des Moines Symphony Association
- Assets
- $12.2m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 198
- Location
- Des Moines, IA
- Founding
- 01/1959
- Data as of
- 06/2021
- EIN
- 42-6058830
Organization Overview
Des Moines Symphony Association is located in Des Moines, IA. The organization was established in 1959. 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 06/2021, Des Moines Symphony Association employed 198 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Des Moines Symphony Association 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 06/2021, Des Moines Symphony Association generated $2.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $2.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (7.9%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE DES MOINES SYMPHONY IS TO ENRICH, EDUCATE, AND INSPIRE THE COMMUNITY BY PERFORMING GREAT ORCHESTRAL MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONCERT PERFORMANCESTHE DES MOINES SYMPHONY ASSOCIATION PERFORMS SEVEN PAIRS OF MASTWERWORKS CONCERTS, AS WELL AS EDUCATION AND FAMILY CONCERTS, AND BOTH A REGULAR SEASON AND SUMMER SEASON POPS SERIES WHICH DRAWS AUDIENCE MEMBERS FROM THROUGHOUT IOWA.
MUSIC EDUCATIONTHE DES MOINES SMPHONY ACADEMY PROVIDES AN ARRAY OF PROGRAMS AND OPPORTUNITIES FOR INDIVIDUAL AND GROUP INSTRUCTION, PERFORMANCE, AND COMMUNITY INVOLVEMENT FOR STUDENTS OF ALL AGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Giunta Music Director | Officer | 40 | $197,161 |
Richard Early Executive Director | Officer | 40 | $134,824 |
Angela Sanders President | OfficerTrustee | 1 | $0 |
Rebecca Shaw Immediate Past President | OfficerTrustee | 1 | $0 |
Rebecca Young Treasurer | OfficerTrustee | 1 | $0 |
Barbara Beatty Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $556,220 |
| Government grants | $814,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $721,201 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,091,521 |
| Total Program Service Revenue | $525,788 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $34,747 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,653,432 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,663,428 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $166,669 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,650 |
| Advertising and promotion | $132,926 |
| Office expenses | $14,734 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,421 |
| Travel | $7,225 |
| 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 | $47,342 |
| Insurance | $29,305 |
| All other expenses | $30,517 |
| Total functional expenses | $2,441,776 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $975,056 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $167,152 |
| Accounts receivable, net | $34,977 |
| 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 | $28,936 |
| Net Land, buildings, and equipment | $131,145 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,871,529 |
| Total assets | $12,208,795 |
| Accounts payable and accrued expenses | $191,072 |
| Grants payable | $0 |
| Deferred revenue | $2,607 |
| 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 | $454,429 |
| Other liabilities | $0 |
| Total liabilities | $648,108 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $2,164,862 |
| Total liabilities and net assets/fund balances | $12,208,795 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Des Moines Symphony Association has recieved totaling $771,605.
| Awarding Organization | Amount |
|---|---|
Bravo Greater Des Moines Inc Des Moines, IA PURPOSE: GENERAL FUNDING | $260,600 |
Thomas And Linda Koehn Foundation Des Moines, IA PURPOSE: GENERAL OPERATING FUND | $260,335 |
Fred Maytag Family Foundation San Francisco, CA PURPOSE: GENERAL SUPPORT | $100,000 |
Emc Insurance Foundation Des Moines, IA PURPOSE: FOR GENERAL SUPPORT OR FOR A CAPITAL FUND DRIVE OF THE RESPECTIVE ORGANIZATION | $50,000 |
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: GRANT DISTRIBUTION FOR RENOVATE TO INNOVATE | $25,000 |
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: GRANT DISTRIBUTION FOR OKOBOJI SCOREBOARD PARTNERSHIPS | $13,053 |
Endowment Analysis
| Beg. Balance | $8,899,590 |
| Earnings | $1,894,014 |
| Admin Expense | $38,948 |
| Net Contributions | $692,310 |
| Other Expense | $575,437 |
| Ending Balance | $10,871,529 |
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 |
Saint Paul Chamber Orchestra Society St Paul, MN | $57,703,244 | $22,202,532 |
Omaha Symphony Association Omaha, NE | $71,026,158 | $5,852,032 |
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 |
South Dakota Symphony Orchestra Sioux Falls, SD | $2,471,738 | $2,231,218 |
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 |