Baltimore Symphony Orchestra Inc
- Assets
- $16.0m
- Revenue
- $20.2m
- Investments
- $0.0
- Employees
- 433
- Location
- Baltimore, MD
- Founding
- 07/1944
- Data as of
- 08/2021
- EIN
- 52-0629696
Organization Overview
Baltimore Symphony Orchestra Inc is located in Baltimore, MD. The organization was established in 1944. 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 08/2022, Baltimore Symphony Orchestra Inc employed 433 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baltimore Symphony Orchestra 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 08/2021, Baltimore Symphony Orchestra Inc generated $20.2m 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 $17.5m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (7.6%) per year over the past 7 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
PROVIDING SYMPHONIC CONCERTS, CULTURAL AND EDUCATIONAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES SYMPHONIC CONCERTS, CULTURAL AND EDUCATION PRESENTATIONS, CULTURAL AND EDUCATIONAL RENTALS, BROADCASTING AND RECORDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Peter Kjome President And CEO (part Year) | OfficerTrustee | 32 | $184,523 |
Mr Mark Hanson President And CEO | OfficerTrustee | 32 | $0 |
Mr Barry F Rosen Chair | OfficerTrustee | 2 | $0 |
Hon Steven R Schuh Vice Chair | OfficerTrustee | 2 | $0 |
Ms Terry M Rubenstein Treasurer, Board Member | OfficerTrustee | 2 | $0 |
Dr Marshall A Levine Secretary, Board Member | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Opus 3 Artists Llc Conductors/guest Artists | 8/30/22 | $260,840 |
Earlylight Media Llc Video Production | 8/30/22 | $131,270 |
Mk's Cleaning Services Contractual Maintenance | 8/30/22 | $128,729 |
Robert Bruce Moir Artistic Consultant | 8/30/22 | $115,568 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,446,942 |
| Investment income | $3,541 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$108,828 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$654,453 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,177,740 |
| 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. | $422,961 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,474,183 |
| Pension plan accruals and contributions | $863,377 |
| Other employee benefits | $2,164,620 |
| Payroll taxes | $736,113 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,405 |
| Fees for services: Accounting | $42,260 |
| Fees for services: Lobbying | $12,997 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,366,648 |
| Advertising and promotion | $456,484 |
| Office expenses | $251,448 |
| Information technology | $245,753 |
| Royalties | $0 |
| Occupancy | $534,742 |
| Travel | $34,753 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23,723 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $137,167 |
| Insurance | $168,435 |
| All other expenses | $0 |
| Total functional expenses | $17,546,434 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $600 |
| Savings and temporary cash investments | $10,558,056 |
| Pledges and grants receivable | $2,050,321 |
| Accounts receivable, net | $634,366 |
| 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 | $824,051 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,486,357 |
| Total assets | $16,033,795 |
| Accounts payable and accrued expenses | $1,067,557 |
| Grants payable | $0 |
| Deferred revenue | $7,586,465 |
| 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 | $1,480,000 |
| Unsecured mortgages and notes payable | $2,000,000 |
| Other liabilities | $14,091,213 |
| Total liabilities | $26,225,235 |
| Net assets without donor restrictions | -$11,956,682 |
| Net assets with donor restrictions | $1,765,242 |
| 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 | -$10,191,440 |