Asheville Symphony Society Inc
- Assets
- $1.8m
- Revenue
- $759.1k
- Investments
- $0.0
- Employees
- 140
- Location
- Asheville, NC
- Founding
- 05/1963
- Data as of
- 06/2021
- EIN
- 56-6060772
Organization Overview
Asheville Symphony Society Inc, operating under the name Asheville Symphony Orchestra, is located in Asheville, NC. 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 06/2021, Asheville Symphony Orchestra employed 140 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asheville Symphony Orchestra 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, Asheville Symphony Orchestra generated $759.1k 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 (14.6%) each year. All expenses for the organization totaled $855.3k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (10.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ASHEVILLE SYMPHONY ORCHESTRA PERFORMS AND PROMOTES SYMPHONIC MUSIC FOR THE BENEFIT, ENJOYMENT AND EDUCATION OF THE PEOPLE OF WESTERN NORTH CAROLINA.
Describe the Organization's Program Activity:
PROGRAM SERVICE ACCOMPLISHMENTS: THE ASHEVILLE SYMPHONY PROVIDES PUBLIC CONCERTS OF ORCHESTRAL AND CHORAL PERFORMANCES FOR THE BENEFIT OF THE BROADER COMMUNITY, AS WELL AS PROVIDING THE OPPORTUNITY FOR MUSICIANS AND STUDENTS TO PARTICIPATE IN DIVERSE MUSIC EDUCATION PROGRAMS TO FOSTER AN APPRECIATION OF MUSIC THROUGH PUBLIC EDUCATION THE SYMPHONY SUPPORTS AFTER-SCHOOL MUSIC EDUCATION AND ENRICHMENT PROGRAMS AS WELL AS THE ASHEVILLE SYMPHONY YOUTH ORCHESTRA. ALL OF THESE PROGRAMS WERE GREATLY IMPACTED BY RESTRICTIONS PUT IN PLACE IN MARCH OF 2020 TO CURTAIL THE SPREAD OF COVID-19, INCLUDING THE CANCELLATION OF PLANNED LIVE CONCERTS. INSTEAD OF ITS PLANNED 2020-2021 SEASON, THE ASHEVILLE SYMPHONY PRESENTED A VARIETY OF VIRTUAL PROGRAMS FOR THE BENEFIT OF ITS COMMUNITY, MUSICIANS, AND STUDENTS, INCLUDING 4 VIRTUAL PREMIERES UTILIZING CHAMBER
ORCHESTRAS AND SOLOISTS AT THE WORTHAM PERFORMING ARTS CENTER, AND AN ENTIRELY VIRTUAL REHEARSAL AND PERFORMANCE SEASON OF THE ASHEVILLE SYMPHONY YOUTH ORCHESTRA. THE ASO ALSO PRODUCED A SERIES OF INTIMATE OUTDOOR CHAMBER MUSIC CONCERTS FOR PATRONS, DONORS AND COMMUNITY MEMBERS THROUGHOUT THE SUMMER AND FALL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bolling Farmer President | OfficerTrustee | 3 | $0 |
G Edward Towson Treasurer | OfficerTrustee | 3 | $0 |
Mary Kirby Secretary | OfficerTrustee | 3 | $0 |
Daniel Crupi Incoming Executive Director | Officer | 40 | $0 |
John Ellis Interim Executive Director | Officer | 40 | $0 |
Doris Phillips Loomis Past President | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $16,420 |
| Fundraising events | $24,365 |
| Related organizations | $0 |
| Government grants | $73,068 |
| All other contributions, gifts, grants, and similar amounts not included above | $463,117 |
| Noncash contributions included in lines 1a–1f | $80,306 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $576,970 |
| Total Program Service Revenue | $19,870 |
| Investment income | $14,064 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,050 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $103,061 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $759,124 |
| 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. | $108,852 |
| Compensation of current officers, directors, key employees. | $21,989 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $227,703 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,031 |
| Payroll taxes | $26,594 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,416 |
| Fees for services: Accounting | $15,560 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $31,550 |
| Fees for services: Investment Management | $8,256 |
| Fees for services: Other | $3,400 |
| Advertising and promotion | $27,097 |
| Office expenses | $39,083 |
| Information technology | $7,500 |
| Royalties | $0 |
| Occupancy | $75,181 |
| Travel | $8,055 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,730 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,955 |
| Insurance | $16,682 |
| All other expenses | $26,844 |
| Total functional expenses | $855,259 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $474,403 |
| Savings and temporary cash investments | $24,508 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,296 |
| 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 | $2,837 |
| Net Land, buildings, and equipment | $86,802 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,198,546 |
| Total assets | $1,814,392 |
| Accounts payable and accrued expenses | $106,366 |
| Grants payable | $0 |
| Deferred revenue | $53,263 |
| 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 | $395,427 |
| Other liabilities | $0 |
| Total liabilities | $555,056 |
| Net assets without donor restrictions | $764,723 |
| Net assets with donor restrictions | $494,613 |
| 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 | $1,814,392 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Asheville Symphony Society Inc has recieved totaling $65,974.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: ADVANCING THE ARTS | $44,433 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $13,500 |
Walnut Cove Members Association Inc Skyland, NC PURPOSE: NATURAL & CULTURAL | $8,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $41 |
Endowment Analysis
| Beg. Balance | $1,002,391 |
| Earnings | $243,398 |
| Admin Expense | $8,256 |
| Other Expense | $47,070 |
| Ending Balance | $1,190,463 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Carolina Symphony Society Inc Raleigh, NC | $32,524,457 | $22,246,893 |
Charlotte Symphony Orchestra Society Inc Charlotte, NC | $18,656,267 | $14,331,249 |
Nashville Symphony Association Nashville, TN | $100,031,908 | $12,366,678 |
Virginia Symphony Orchestra Norfolk, VA | $5,267,903 | $8,191,490 |
Richmond Symphony Richmond, VA | $2,392,826 | $8,372,945 |
Knoxville Symphony Society Inc Knoxville, TN | $1,484,079 | $3,960,669 |
Memphis Symphony Orchestra Inc Memphis, TN | $6,274,797 | $4,582,397 |
Greensboro Symphony Orchestra Incorporated Greensboro, NC | $1,104,196 | $3,569,093 |
Winston Salem Symphony Assoc Winstonsalem, NC | $6,175,789 | $3,471,563 |
Charleston Symphony Orchestra Charleston, SC | $3,900,208 | $3,884,009 |
Augusta Symphony Inc Augusta, GA | $19,725,932 | $3,708,047 |
Greenville Symphony Association Greenville, SC | $3,125,608 | $3,582,952 |