Minot Symphony Association Inc
- Assets
- $970.2k
- Revenue
- $245.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Minot, ND
- Founding
- 10/1966
- Data as of
- 06/2021
- EIN
- 45-0282975
Organization Overview
Minot Symphony Association Inc is located in Minot, ND. The organization was established in 1966. According to its NTEE Classification (A69) the organization is classified as: Symphony Orchestras, 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. Minot Symphony Association 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 06/2021, Minot Symphony Association Inc generated $245.6k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $105.5k during the year ending 06/2021. 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
TO PRESENT PEOPLE WITH THE OPPORTUNITY TO EXPERIENCE SYMPHONY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSIC CONCERTS
MUSIC SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellen Fenner Executive Director | Officer | 20 | $38,393 |
Pat Schwan Vice President | OfficerTrustee | 1.5 | $0 |
Christine Baumann President | OfficerTrustee | 1.5 | $0 |
Michael Heil Treasurer | OfficerTrustee | 1.5 | $0 |
Susan Podrygula Secretary | OfficerTrustee | 1.5 | $0 |
Michelle Bassler Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,409 |
| All other contributions, gifts, grants, and similar amounts not included above | $45,562 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $85,971 |
| Total Program Service Revenue | $39,039 |
| Investment income | $13,134 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $90,669 |
| Net Income from Fundraising Events | $13,566 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $245,564 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,110 |
| 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 | $4,351 |
| Fees for services: Management | $38,393 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,316 |
| Fees for services: Other | $623 |
| Advertising and promotion | $8,998 |
| Office expenses | $12,880 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $99 |
| 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 | $2,614 |
| Insurance | $1,187 |
| All other expenses | $2,778 |
| Total functional expenses | $105,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,989 |
| Savings and temporary cash investments | $56,826 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,000 |
| 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 | $15,373 |
| Investments—publicly traded securities | $847,039 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $970,227 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $20 |
| 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 | $20 |
| Net assets without donor restrictions | $82,763 |
| Net assets with donor restrictions | $887,444 |
| 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 | $970,227 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Minot Symphony Association Inc has recieved totaling $20,045.
| Awarding Organization | Amount |
|---|---|
Minot Community Foundation Minot, ND PURPOSE: TO ASSIST THE ORGANIZATION WITH CARRYING OUT OF ITS TAX EXEMPT MISSION. | $15,000 |
Ronald And Duska Lacount Family Foundation Minot, ND PURPOSE: GENERAL OPERATING EXPENSES | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $45 |
Endowment Analysis
| Beg. Balance | $699,087 |
| Earnings | $179,378 |
| Admin Expense | $4,316 |
| Net Contributions | $13,295 |
| Ending Balance | $887,444 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minnesota Orchestral Association Minneapolis, MN | $187,473,763 | $23,588,719 |
Saint Paul Chamber Orchestra Society St Paul, MN | $57,703,244 | $22,202,532 |
South Dakota Symphony Orchestra Sioux Falls, SD | $2,471,738 | $2,231,218 |
Billings Symphony Society Billings, MT | $4,831,498 | $2,161,521 |
Greater Twin Cities Youth Symphonies St Paul, MN | $1,493,786 | $1,297,904 |
Duluth-Superior Symphony Association Duluth, MN | $1,861,417 | $795,245 |
Helena Symphony Society Helena, MT | $351,537 | $815,895 |
Fargo-Moorhead Orchestral Fargo, ND | $390,819 | $828,935 |
Great Falls Symphony Asso Inc Great Falls, MT | $1,881,219 | $729,276 |
Bozeman Symphony Society Bozeman, MT | $828,625 | $908,996 |
Glacier Symphony And Chorale Inc Kalispell, MT | $525,029 | $674,842 |
Missoula Civic Symphony Association Missoula, MT | $866,121 | $720,309 |