The Louisville Orchestra Inc
- Assets
- $7.8m
- Revenue
- $11.5m
- Investments
- $0.0
- Employees
- 159
- Location
- Louisville, KY
- Founding
- 03/1948
- Data as of
- 05/2022
- EIN
- 61-6000384
Organization Overview
The Louisville Orchestra Inc is located in Louisville, KY. The organization was established in 1948. 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 05/2022, Louisville Orchestra Inc employed 159 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louisville 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 05/2022, Louisville Orchestra Inc generated $11.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $8.9m during the year ending 05/2022. While expenses have increased by 3.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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 CHANGE LIVES THROUGHOUT OUR ENTIRE COMMUNITY AS ONLY THE LOUISVILLE ORCHESTRA CAN, BY PROMOTING A CULTURE OF MUSIC THROUGH OUTSTANDING PERFORMANCES AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO MAINTAIN A SYMPHONY ORCHESTRA AND TO ENCOURAGE AND PROMOTE ARTIST AND EDUCATIONAL MUSICAL OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hubert Griffin III Chief Development Officer | 40 | $133,507 | |
Tonya Mcsorley Chief Financial Officer | Officer | 40 | $124,530 |
Michelle Winters Director Of Marketing | 40 | $104,755 | |
Timothy Peace Secretary | OfficerTrustee | 1 | $0 |
Lee Kirkwood Chair | OfficerTrustee | 1 | $0 |
Ritu Furlan Treasurer And VP Of Finance | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $637,000 |
| Membership dues | $0 |
| Fundraising events | $106,600 |
| Related organizations | $527,208 |
| Government grants | $3,256,327 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,462,644 |
| Noncash contributions included in lines 1a–1f | $110,293 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,989,779 |
| Total Program Service Revenue | $1,319,037 |
| Investment income | $64,245 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,710 |
| Net Income from Fundraising Events | -$52,854 |
| Net Income from Gaming Activities | $178,659 |
| Net Income from Sales of Inventory | $65 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,516,592 |
| 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. | $150,276 |
| Compensation of current officers, directors, key employees. | $150,276 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,590,740 |
| Pension plan accruals and contributions | $155,697 |
| Other employee benefits | $755,476 |
| Payroll taxes | $450,596 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,734 |
| Fees for services: Accounting | $18,720 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,054,393 |
| Advertising and promotion | $389,619 |
| Office expenses | $33,299 |
| Information technology | $42,512 |
| Royalties | $0 |
| Occupancy | $288,662 |
| Travel | $13,792 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $196 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,529 |
| Insurance | $38,723 |
| All other expenses | $247,839 |
| Total functional expenses | $8,886,621 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,043,976 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,564,627 |
| Accounts receivable, net | $468,490 |
| 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 | $65,734 |
| Net Land, buildings, and equipment | $22,672 |
| Investments—publicly traded securities | $1,468,162 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,122,907 |
| Total assets | $7,756,568 |
| Accounts payable and accrued expenses | $469,987 |
| Grants payable | $0 |
| Deferred revenue | $436,191 |
| 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 | $906,178 |
| Net assets without donor restrictions | $1,943,834 |
| Net assets with donor restrictions | $4,906,556 |
| 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 | $7,756,568 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Louisville Orchestra Inc has recieved totaling $2,250.
| Awarding Organization | Amount |
|---|---|
Arthur H Kenney Ophthalmic Fund Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $2,000 |
Bruckner Society Of America Inc Windsor, CT PURPOSE: GRANT FOR PERFORMANCE | $250 |
Endowment Analysis
| Beg. Balance | $1,714,522 |
| Earnings | -$125,987 |
| Admin Expense | $12,656 |
| Other Expense | $107,716 |
| Ending Balance | $1,468,163 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Fort Wayne Philharmonic Orchestra Inc Fort Wayne, IN | $27,926,694 | $5,947,084 |
Dayton Performing Arts Alliance Dayton, OH | $10,536,333 | $6,130,805 |
Knoxville Symphony Society Inc Knoxville, TN | $1,484,079 | $3,960,669 |
Memphis Symphony Orchestra Inc Memphis, TN | $6,274,797 | $4,582,397 |