Austin Symphony Orchestra Society
- Assets
- $7.6m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 202
- Location
- Austin, TX
- Founding
- 07/1941
- Data as of
- 08/2021
- EIN
- 74-6000068
Organization Overview
Austin Symphony Orchestra Society is located in Austin, TX. The organization was established in 1941. 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 08/2021, Austin Symphony Orchestra Society employed 202 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Austin Symphony Orchestra Society 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 08/2021, Austin Symphony Orchestra Society generated $4.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $4.6m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (0.4%) 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
TO PRESENT, PROMOTE, ENCOURAGE, AND ADVANCE MUSICAL EDUCATION AND ENJOYMENT OF ORCHESTRA MUSIC TO THE CITIZENS OF AUSTIN AND CENTRAL TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SYMPHONY PERFORMS ITS REGULAR SUBSCRIPTION SERIES OF CONCERTS FROM SEPTEMBER THROUGH MAY. HOWEVER, DUE TO THE COVID-19 PANDEMIC, SEVEN SUBSCRIPTION CONCERTS WERE PRESENTED VIRTUALLY BETWEEN SEPTEMBER 2020 AND APRIL 2021. THE FINAL SUBSCRIPTION CONCERT OF THE SEASON, A TICKETED EVENT, WAS PRESENTED LIVE BEFORE AN AUDIENCE IN MAY 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Corroa Retiring Executive Director | Officer | 45 | $185,525 |
Peter Bay Music Director | Officer | 45 | $166,967 |
Ernest C Butler Chairman | OfficerTrustee | 0.25 | $0 |
Ben Bentzin President | OfficerTrustee | 0.25 | $0 |
Wendy Lary Asst. Secretary | OfficerTrustee | 0.25 | $0 |
William H Bingham Legal Counsel | OfficerTrustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $528,748 |
| Government grants | $585,330 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,243,910 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,357,988 |
| Total Program Service Revenue | $788,292 |
| Investment income | $11,626 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $389 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$16,465 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,195,926 |
| 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. | $374,887 |
| Compensation of current officers, directors, key employees. | $99,650 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,098,050 |
| Pension plan accruals and contributions | $97,788 |
| Other employee benefits | $104,311 |
| Payroll taxes | $212,036 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,220 |
| Fees for services: Accounting | $18,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,545 |
| Fees for services: Other | $90,473 |
| Advertising and promotion | $91,611 |
| Office expenses | $52,427 |
| Information technology | $61,037 |
| Royalties | $0 |
| Occupancy | $279,376 |
| Travel | $2,219 |
| 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 | $46,715 |
| Insurance | $34,175 |
| All other expenses | $0 |
| Total functional expenses | $4,638,241 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,102,251 |
| Savings and temporary cash investments | $1,383,573 |
| Pledges and grants receivable | $782,430 |
| Accounts receivable, net | $0 |
| 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 | $457,823 |
| Net Land, buildings, and equipment | $3,287,235 |
| Investments—publicly traded securities | $571,715 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,700 |
| Total assets | $7,592,727 |
| Accounts payable and accrued expenses | $122,179 |
| Grants payable | $0 |
| Deferred revenue | $936,749 |
| 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 | $1,296,835 |
| Other liabilities | $0 |
| Total liabilities | $2,355,763 |
| Net assets without donor restrictions | $4,634,592 |
| Net assets with donor restrictions | $602,372 |
| 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 | $7,592,727 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Austin Symphony Orchestra Society has recieved totaling $343,515.
| Awarding Organization | Amount |
|---|---|
Bancroft-Clair Foundation Inc Austin, TX PURPOSE: BANCROFT INITIATIVE | $80,000 |
Eva And Marvin Womack Foundation Austin, TX PURPOSE: CULTURAL | $60,500 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $49,150 |
Austin Community Foundation Austin, TX PURPOSE: UNRESTRICTED | $47,155 |
E L & R F Hallberg Foundation Chicago, IL PURPOSE: GENERAL | $35,000 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: ARTS AND CULTURE | $28,700 |
Endowment Analysis
| Beg. Balance | $13,913,767 |
| Earnings | $3,189,099 |
| Net Contributions | $395,331 |
| Grants | $522,891 |
| Ending Balance | $16,975,306 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fort Worth Symphony Orchestra Association Inc Fort Worth, TX | $39,389,813 | $15,284,563 |
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 |
Louisiana Philharmonic Orchestra New Orleans, LA | $3,918,513 | $4,011,115 |
Tulsa Symphony Orchestra Inc Tulsa, OK | $3,114,616 | $2,041,644 |
Amarillo Symphony Inc Amarillo, TX | $5,802,759 | $2,592,502 |
The Arkansas Symphony Orchestra Society Inc Little Rock, AR | $14,211,799 | $5,063,125 |
Symphony Society Of San Antonio San Antonio, TX | $0 | $201,376 |
New Mexico Philharmonic Inc Albuquerque, NM | $458,933 | $1,791,722 |
Youth Orchestras Of San Antonio San Antonio, TX | $968,250 | $1,461,155 |
El Paso Symphony Orchestra Assn El Paso, TX | $1,877,584 | $1,540,640 |
River Oaks Chamber Orchestra Houston, TX | $650,565 | $1,492,663 |