North Carolina Symphony Foundation
- Assets
- $17.0m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 03/1983
- Data as of
- 06/2022
- EIN
- 58-1495066
Organization Overview
North Carolina Symphony Foundation is located in Raleigh, NC. The organization was established in 1983. 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. North Carolina 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 06/2022, North Carolina Symphony Foundation generated $1.6m 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 (7.0%) each year. All expenses for the organization totaled $922.6k during the year ending 06/2022. 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
TO PROVIDE SUPPORT TO THE NORTH CAROLINA SYMPHONY SOCIETY AND TO SOLICIT ADDITIONS TO ITS ENDOWMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SUPPORT TO THE NORTH CAROLINA SYMPHONY SOCIETY, INC. (THE "SOCIETY"), SOLICIT ADDITIONS TO ITS ENDOWMENT, SAFEGUARD ENDOWMENT ASSETS IN A MANNER CONSISTENT WITH THE PRUDENT INVESTMENT OF ENDOWMENT FUNDS, AND EXPEND INCOME AND CAPITAL FOR THE EXCLUSIVE USE AND BENEFIT OF THE SOCIETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Larry Wilson President | OfficerTrustee | 5 | $0 |
Col Matt Segal Treasurer | OfficerTrustee | 3 | $0 |
Mr Chip Anderson Vice-President | OfficerTrustee | 3 | $0 |
Ms Dianne C Sellers Secretary | OfficerTrustee | 3 | $0 |
Sandi MA Macdonald President & CEO | Officer | 5 | $0 |
Robert Schiller Senior Vice President & Cf | Officer | 5 | $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 | $358,846 |
| Noncash contributions included in lines 1a–1f | $16,504 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $358,846 |
| Total Program Service Revenue | $0 |
| Investment income | $264,591 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,008,273 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,631,710 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $875,781 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $3,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,370 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,415 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $922,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $129,002 |
| Accounts receivable, net | $105,559 |
| 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 | $0 |
| Investments—publicly traded securities | $15,434,560 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,324,037 |
| Total assets | $16,993,158 |
| 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 | $117,824 |
| Total liabilities | $117,824 |
| Net assets without donor restrictions | $255,638 |
| Net assets with donor restrictions | $16,619,696 |
| 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 | $16,993,158 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that North Carolina Symphony Foundation has recieved totaling $16,968.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $16,850 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $18 |
Endowment Analysis
| Beg. Balance | $17,937,636 |
| Earnings | -$2,383,091 |
| Admin Expense | $22,416 |
| Net Contributions | $770,971 |
| Other Expense | $875,780 |
| Ending Balance | $15,427,320 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Virginia Museum Of Fine Arts Foundation Richmond, VA | $286,070,393 | $48,848,372 |
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 |
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 |
Medal Of Honor Foundation Inc Mt Pleasant, SC | $10,060,291 | $4,482,883 |
Jefferson Center Foundation Ltd Roanoke, VA | $24,079,593 | $2,456,793 |
Frist Art Museum Foundation Nashville, TN | $70,216,759 | $5,732,814 |
The Callanwolde Foundation Inc Atlanta, GA | $3,540,357 | $1,973,152 |