Fort Smith Symphony Association Inc
- Assets
- $2.6m
- Revenue
- $604.5k
- Investments
- $0.0
- Employees
- 4
- Location
- Fort Smith, AR
- Founding
- 12/1965
- Data as of
- 06/2021
- EIN
- 71-0292138
Organization Overview
Fort Smith Symphony Association Inc is located in Fort Smith, AR. The organization was established in 1965. 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, Fort Smith Symphony Association Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Smith Symphony Association 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 06/2021, Fort Smith Symphony Association Inc generated $604.5k 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 (3.5%) each year. All expenses for the organization totaled $469.5k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (8.5%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FORT SMITH SYMPHONY ASSOCIATION IS DEDICATED TO PROVIDING OUR COMMUNITY WITH EXCELLENT ORCHESTRAL PROGRAMS WHICH ENTERTAIN, EDUCATE, AND ENHANCE THE QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORCHESTRA INCLUDES OVER 100 PROFESSIONAL MUSICIANS TRAVELING FROM OKLAHOMA, MISSOURI, TEXAS, KANSAS, TENNESSEE, AND NEW YORK AS WELL AS ARKANSAS FOR REHEARSALS AND CONCERTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Jeter Music Direct | Officer | 40 | $120,698 |
Anitra Fay VP Of Market | OfficerTrustee | 1 | $0 |
Dr Peter Fleck President | OfficerTrustee | 1 | $0 |
Lavon Morton Treasurer | OfficerTrustee | 1 | $0 |
Donna Stec VP Of Financ | OfficerTrustee | 1 | $0 |
Dr Paul Hankins President El | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $368,419 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $408,919 |
| Total Program Service Revenue | $97,461 |
| Investment income | $9,575 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $88,514 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $604,469 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $168,875 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,669 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,455 |
| Advertising and promotion | $2,912 |
| Office expenses | $2,706 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $40,782 |
| 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 | $5,093 |
| Insurance | $25,677 |
| All other expenses | $35,974 |
| Total functional expenses | $469,483 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300,806 |
| Savings and temporary cash investments | $67,186 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,102 |
| 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 | $5,503 |
| Net Land, buildings, and equipment | $42,247 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,122,450 |
| Total assets | $2,558,294 |
| Accounts payable and accrued expenses | $15,278 |
| Grants payable | $0 |
| Deferred revenue | $73,815 |
| 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 | $48,736 |
| Other liabilities | $0 |
| Total liabilities | $137,829 |
| Net assets without donor restrictions | $1,009,262 |
| Net assets with donor restrictions | $1,411,203 |
| 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 | $2,558,294 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Fort Smith Symphony Association Inc has recieved totaling $81,008.
| Awarding Organization | Amount |
|---|---|
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $20,000 |
Arkansas Community Foundation Inc Little Rock, AR PURPOSE: GENERAL OPERATING SUPPORT FROM ENDOWMENT EARNINGS | $12,377 |
Arkansas Community Foundation Inc Little Rock, AR PURPOSE: GENERAL OPERATING SUPPORT FROM ENDOWMENT EARNINGS | $12,377 |
Arkansas Community Foundation Inc Little Rock, AR PURPOSE: GENERAL OPERATING SUPPORT FROM ENDOWMENT EARNINGS | $12,377 |
Arkansas Community Foundation Inc Little Rock, AR PURPOSE: GENERAL OPERATING SUPPORT FROM ENDOWMENT EARNINGS | $12,377 |
Baptist Health Regional Hospitals Little Rock, AR PURPOSE: ECONOMIC DEVELOPMENT | $10,000 |
Endowment Analysis
| Beg. Balance | $1,566,328 |
| Earnings | $386,258 |
| Other Expense | -$74,169 |
| Ending Balance | $1,878,417 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dallas Symphony Association Inc Dallas, TX | $30,480,044 | $38,703,176 |
Saint Louis Symphony Orchestra St Louis, MO | $77,659,859 | $61,304,520 |
Houston Symphony Society Houston, TX | $6,917,238 | $35,994,603 |
Kansas City Symphony Kansas City, MO | $64,822,369 | $17,397,853 |
Fort Worth Symphony Orchestra Association Inc Fort Worth, TX | $39,389,813 | $15,284,563 |
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 |
Oklahoma Philharmonic Society Inc Oklahoma City, OK | $16,602,843 | $6,401,721 |
Austin Symphony Orchestra Society Austin, TX | $7,592,727 | $4,195,926 |
Knoxville Symphony Society Inc Knoxville, TN | $1,484,079 | $3,960,669 |
Memphis Symphony Orchestra Inc Memphis, TN | $6,274,797 | $4,582,397 |
Louisiana Philharmonic Orchestra New Orleans, LA | $3,918,513 | $4,011,115 |