Paducah Symphony Orchestra Inc
- Assets
- $2.9m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 128
- Location
- Paducah, KY
- Founding
- 05/1980
- Data as of
- 06/2022
- EIN
- 61-0965156
Organization Overview
Paducah Symphony Orchestra Inc is located in Paducah, KY. The organization was established in 1980. 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, Paducah Symphony Orchestra Inc employed 128 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paducah 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, Paducah Symphony Orchestra Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $812.3k 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 ENHANCE THE APPRECIATION OF MUSIC FOR AREA CITIZENS AND TO ENHANCE THE CULTURAL REPUTATION OF THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENHANCE THE APPRECIATION OF MUSIC FOR AREA CITIZENS AND TO ENHANCE THE CULTURAL REPUTATION OF THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debbie Reynolds Secretary | Officer | 0 | $0 |
James Gwinn Jr Trustee | Officer | 0 | $0 |
Robert Carter Officer | Officer | 0 | $0 |
Juliette Grumley Officer | Officer | 0 | $0 |
James Long President | Officer | 0 | $0 |
John Mann Officer | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $378,458 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,138,815 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,517,273 |
| Total Program Service Revenue | $297,977 |
| Investment income | $19,090 |
| 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 | $1,834,340 |
| 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. | $49,600 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $371,054 |
| Pension plan accruals and contributions | $2,578 |
| Other employee benefits | $5,899 |
| Payroll taxes | $31,822 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $54,748 |
| Office expenses | $26,558 |
| Information technology | $3,132 |
| Royalties | $0 |
| Occupancy | $45,842 |
| Travel | $64,045 |
| 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 | $9,105 |
| Insurance | $6,799 |
| All other expenses | $0 |
| Total functional expenses | $812,276 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,858,824 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,800 |
| 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 | $1,145 |
| Net Land, buildings, and equipment | $34,453 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $939,275 |
| Total assets | $2,866,497 |
| Accounts payable and accrued expenses | $7,165 |
| Grants payable | $0 |
| Deferred revenue | $543,744 |
| 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 | $550,909 |
| Net assets without donor restrictions | $2,315,588 |
| Net assets with donor restrictions | $0 |
| 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 | $2,866,497 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Paducah Symphony Orchestra Inc has recieved totaling $279,101.
| Awarding Organization | Amount |
|---|---|
Carson-Myre Charitable Foundation Paducah, KY PURPOSE: SPONSOR & SUPPORT CULTURAL EVENTS | $250,000 |
Community Foundation Of West Kentucky Inc Paducah, KY PURPOSE: PROGRAM SUPPORT | $29,101 |
Endowment Analysis
| Beg. Balance | $1,100,737 |
| Earnings | -$269,377 |
| Admin Expense | $14,452 |
| Net Contributions | $89,335 |
| Ending Balance | $939,275 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Musical Arts Association Cleveland, OH | $284,635,926 | $54,210,898 |
Chicago Symphony Orchestra Chicago, IL | $576,700,123 | $109,905,535 |
Cincinnati Symphony Orchestra Cincinnati, OH | $298,354,425 | $55,153,223 |
Saint Louis Symphony Orchestra St Louis, MO | $77,659,859 | $61,304,520 |
Kansas City Symphony Kansas City, MO | $64,822,369 | $17,397,853 |
Saint Louis Symphony Endowment Trust Saint Louis, MO | $280,111,729 | $18,922,089 |
Nashville Symphony Association Nashville, TN | $100,031,908 | $12,366,678 |
Indiana Symphony Society Inc Indianapolis, IN | $13,063,766 | $26,550,940 |
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 |