The Louisville Orchestra Inc
- Assets
- $11.2m
- Revenue
- $14.8m
- Investments
- $0.0
- Employees
- 250
- Location
- Louisville, KY
- Founding
- 03/1948
- Data as of
- 05/2023
- 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 05/2023, Louisville Orchestra Inc employed 250 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 05/2023, Louisville Orchestra Inc generated $14.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $12.3m during the year ending 05/2023. While expenses have increased by 7.4% per year over the past 8 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
2023
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 |
|---|---|---|---|
Tonya Mcsorley Chief Financial Officer | OfficerTrustee | 40 | $149,337 |
Lee Kirkwood Immediate Past Chair | Trustee | 1 | $0 |
Ritu Furlan Treasurer And VP Of Financ | OfficerTrustee | 1 | $0 |
Andrew Fleischman Chair And General Co | OfficerTrustee | 1 | $0 |
Bruce J Roth Secretary And Chair - Governance Committee | Trustee | 1 | $0 |
William Summers Chair-Development Committe | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $573,300 |
| Membership dues | $0 |
| Fundraising events | $299,921 |
| Related organizations | $546,231 |
| Government grants | $4,681,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,082,262 |
| Noncash contributions included in lines 1a–1f | $25,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,182,714 |
| Total Program Service Revenue | $2,409,226 |
| Investment income | $150,968 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$29,846 |
| Net Income from Fundraising Events | -$23,130 |
| Net Income from Gaming Activities | $20,288 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,770,476 |
| 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. | $161,250 |
| Compensation of current officers, directors, key employees. | $161,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,742,214 |
| Pension plan accruals and contributions | $1,150,026 |
| Other employee benefits | $827,934 |
| Payroll taxes | $282,347 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,851 |
| Fees for services: Accounting | $30,836 |
| Fees for services: Lobbying | $60,000 |
| Fees for services: Fundraising | $317,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,069,765 |
| Advertising and promotion | $589,356 |
| Office expenses | $89,516 |
| Information technology | $57,506 |
| Royalties | $0 |
| Occupancy | $370,420 |
| Travel | $202,812 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,395 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,504 |
| Insurance | $42,966 |
| All other expenses | $320,527 |
| Total functional expenses | $12,324,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,111,499 |
| Savings and temporary cash investments | $2,356,802 |
| Pledges and grants receivable | $3,596,194 |
| Accounts receivable, net | $489,339 |
| 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 | $184,609 |
| Net Land, buildings, and equipment | $212,926 |
| Investments—publicly traded securities | $1,372,555 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,869,205 |
| Total assets | $11,193,129 |
| Accounts payable and accrued expenses | $879,180 |
| Grants payable | $0 |
| Deferred revenue | $333,994 |
| 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 | $734,992 |
| Total liabilities | $1,948,166 |
| Net assets without donor restrictions | $1,827,055 |
| Net assets with donor restrictions | $7,417,908 |
| 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 | $11,193,129 |