Richmond Symphony Foundation
- Assets
- $22.8m
- Revenue
- $493.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 04/1989
- Data as of
- 06/2021
- EIN
- 54-1514987
Organization Overview
Richmond Symphony Foundation is located in Richmond, VA. The organization was established in 1989. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. Richmond Symphony Foundation 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, Richmond Symphony Foundation generated $493.3k 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 (13.5%) each year. All expenses for the organization totaled $1.1m 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 SUPPORT THE RICHMOND SYMPHONY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WAS ORGANIZED FOR THE PURPOSES OF SOLICITING, RECEIVING AND ADMINISTERING GIFTS, GRANTS, AND CONTRIBUTIONS FOR THE BENEFIT OF THE RICHMOND SYMPHONY (A 501(C)3 ORGANIZATION).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James B Hartough Treasurer | OfficerTrustee | 1 | $0 |
David Carter Immediate Past President | OfficerTrustee | 1 | $0 |
George Y Wheeler III President | OfficerTrustee | 1 | $0 |
Lacey Huszcza Secretary | OfficerTrustee | 5 | $0 |
Ann T Burks Vice President | OfficerTrustee | 1 | $0 |
J Alfred Broaddus Jr Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $342,692 |
| Noncash contributions included in lines 1a–1f | $29,520 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $342,692 |
| Total Program Service Revenue | $0 |
| Investment income | $150,626 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $493,318 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $969,000 |
| 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 | $63,269 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,840 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69 |
| Fees for services: Accounting | $22,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $1,386 |
| All other expenses | $0 |
| Total functional expenses | $1,068,515 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $846,506 |
| Savings and temporary cash investments | $467,499 |
| Pledges and grants receivable | $393,419 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $638,515 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $20,459,707 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,805,646 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $14,456 |
| Total liabilities | $14,456 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $22,791,190 |
| 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 | $22,805,646 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Richmond Symphony Foundation has recieved totaling $250,022.
| Awarding Organization | Amount |
|---|---|
Robert G Iii And Maude Morgan Cabell Foundation Richmond, VA PURPOSE: TO SUPPORT THE OPERATIONAL AND TECHNOLOGY NEEDS DEEMED ESSENTIAL BY THE BOARD | $250,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $22 |
Endowment Analysis
| Beg. Balance | $22,786,651 |
| Earnings | -$777,843 |
| Admin Expense | $850,263 |
| Net Contributions | $1,109,374 |
| Ending Balance | $22,267,919 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Npr Foundation Washington, DC | $410,006,391 | $31,919,786 |
Pbs Foundation Arlington, VA | $37,997,942 | $17,786,379 |
North Carolina Museum Of Art Foundation Inc Raleigh, NC | $80,876,506 | $13,828,837 |
Virginia Foundation For Public Media Richmond, VA | $185,376,659 | $5,025,363 |
Commonwealth Fund For Ket Inc Lexington, KY | $35,205,433 | $8,912,254 |
Memphis Brooks Museum Of Art Inc Memphis, TN | $44,232,792 | $7,821,496 |
Marbles Kids Museum Raleigh, NC | $8,790,326 | $3,967,863 |
Friends Of Nc State Museum Of Natural Sciences Raleigh, NC | $9,967,287 | $3,956,524 |
Centennial Park Conservancy Nashville, TN | $5,267,235 | $2,768,009 |
Mpt Foundation Inc Owings Mills, MD | $15,645,200 | $7,324,843 |
Jefferson Center Foundation Ltd Roanoke, VA | $24,079,593 | $2,456,793 |
Frist Art Museum Foundation Nashville, TN | $70,216,759 | $5,732,814 |