West Virginia Symphony Orchestra Inc
- Assets
- $1.7m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 195
- Location
- Charleston, WV
- Founding
- 04/1963
- Data as of
- 06/2022
- EIN
- 55-0339426
Organization Overview
West Virginia Symphony Orchestra Inc is located in Charleston, WV. The organization was established in 1963. 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, West Virginia Symphony Orchestra Inc employed 195 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West Virginia 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 06/2022, West Virginia Symphony Orchestra Inc generated $2.4m 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 (5.5%) each year. All expenses for the organization totaled $2.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.8%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE WEST VIRGINIA SYMPHONY ORCHESTRA MAKES GREAT MUSIC TO ENRICH AND INSPIRE EVERYONE IN OUR REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SYMPHONIC CONCERTS THROUGHOUT WEST VIRGINIA AT A MINIMAL COST TO ATTENDEES, REACH AUDIENCES THAT OTHERWISE WOULD NOT HAVE THE OPPORTUNITY TO HEAR LIVE CLASSICAL MUSIC. ALL REVENUES SUPPORT PERFORMANCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Tackett President & Ceo, And Ex-Of | Officer | 40 | $132,223 |
Lawrence Loh Artistic Director & Conduc | 40 | $110,750 | |
Cindy S Mcghee Chairman | OfficerTrustee | 1 | $0 |
Tim Quinlan Treasurer | OfficerTrustee | 1 | $0 |
James W Douglas Secretary | OfficerTrustee | 1 | $0 |
Richard L Lewis II Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $79,892 |
| Related organizations | $175,000 |
| Government grants | $146,361 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,380,113 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,781,366 |
| Total Program Service Revenue | $628,573 |
| Investment income | $9,850 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$56,527 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,378,375 |
| 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. | $132,223 |
| Compensation of current officers, directors, key employees. | $132,223 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,026,231 |
| Pension plan accruals and contributions | $28,899 |
| Other employee benefits | $41,646 |
| Payroll taxes | $96,302 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,786 |
| Fees for services: Other | $0 |
| Advertising and promotion | $75,368 |
| Office expenses | $120,902 |
| 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 | $24,435 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,425 |
| Insurance | $21,177 |
| All other expenses | $171,319 |
| Total functional expenses | $2,347,856 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $508 |
| Savings and temporary cash investments | $518,303 |
| Pledges and grants receivable | $453,812 |
| Accounts receivable, net | $361,474 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $8,981 |
| Prepaid expenses and deferred charges | $34,677 |
| Net Land, buildings, and equipment | $12,950 |
| Investments—publicly traded securities | $300,927 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,691,632 |
| Accounts payable and accrued expenses | $29,276 |
| Grants payable | $0 |
| Deferred revenue | $166,943 |
| 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 | $196,219 |
| Net assets without donor restrictions | $975,901 |
| Net assets with donor restrictions | $519,512 |
| 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 | $1,691,632 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that West Virginia Symphony Orchestra Inc has recieved totaling $449,459.
| Awarding Organization | Amount |
|---|---|
Greater Kanawha Valley Foundation Charleston, WV PURPOSE: GENERAL SUPPORT | $381,479 |
Fund For The Arts Inc Charleston, WV PURPOSE: TO SUPPORT & FOSTER ARTISTIC ENDEAVORS | $32,780 |
Parkersburg Area Community Foundation Inc Parkersburg, WV PURPOSE: ARTS, CULTURE, & HISTORY | $23,100 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $12,100 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baltimore Symphony Orchestra Inc Baltimore, MD | $16,033,795 | $20,177,740 |
The Louisville Orchestra Inc Louisville, KY | $7,756,568 | $11,516,592 |
Virginia Symphony Orchestra Norfolk, VA | $5,267,903 | $8,191,490 |
Richmond Symphony Richmond, VA | $2,392,826 | $8,372,945 |
Columbus Symphony Orchestra Inc Columbus, OH | $23,849,025 | $7,378,126 |
Dayton Performing Arts Alliance Dayton, OH | $10,536,333 | $6,130,805 |
National Philharmonic Orchestra & Chorale Of Mongomery County Inc North Bethesda, MD | $1,849,727 | $2,888,620 |
West Virginia Symphony Orchestra Inc Charleston, WV | $1,691,632 | $2,378,375 |
Harrisburg Symphony Association Harrisburg, PA | $13,261,535 | $3,046,479 |
Allentown Symphony Association Inc Allentown, PA | $15,521,853 | $2,408,487 |
Youngstown Symphony Society Inc Youngstown, OH | $9,809,717 | $1,234,201 |
Philadelphia Youth Orchestra Philadelphia, PA | $1,696,190 | $1,961,434 |