Lubbock Symphony Orchestra
- Assets
- $6.1m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 20
- Location
- Lubbock, TX
- Founding
- 12/1948
- Data as of
- 06/2022
- EIN
- 75-6001993
Organization Overview
Lubbock Symphony Orchestra is located in Lubbock, TX. 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 06/2023, Lubbock Symphony Orchestra employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lubbock Symphony Orchestra 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, Lubbock Symphony Orchestra generated $2.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. While expenses have increased by 6.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENRICH THE GREATER COMMUNITY THROUGH QUALITY SYMPHONIC PERFORMANCES AND EDUCATIONAL EXPERIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CONCERT SEASON INCLUDED BOTH A CLASSICAL AND CHAMBER SERIES WITH A HOLIDAY POPS AND SPECIAL CONCERTS FROM TIME TO TIME. THESE CONCERTS PROVIDE CULTURAL ACTIVITIES FOR THE ENTIRE SOUTH PLAINS REGION WITH OVER 14,000 IN ATTENDANCE EACH YEAR.
EDUCATIONAL PROGRAMS INCLUDED A FREE FAMILY CONCERT, SIX ANNUAL EDUCATION CONCERTS WITH STUDENTS BUSSED INTO THE LUBBOCK MEMORIAL CIVIC CENTER, SMALL ENSEMBLES THAT PERFORM IN THE SCHOOLS, AND A TEACHING ARTIST PROGRAM THAT USES MUSIC TO TEACH CORE CURRICULA. THESE PROGRAMS REACH OVER 12,000 STUDENTS EACH YEAR IN THE SOUTH PLAINS REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Willcutt Chair | OfficerTrustee | 1 | $0 |
Toni Epps Wallingford Chair Elect | OfficerTrustee | 1 | $0 |
Terri Byrne Secretary | OfficerTrustee | 1 | $0 |
Katie Salter Treasurer | OfficerTrustee | 1 | $0 |
Heather Hocker Immediate Past Chair | OfficerTrustee | 6 | $0 |
Steve Balch Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,202,884 |
| Investment income | $262,113 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $56,720 |
| Net Income from Fundraising Events | $128,229 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $17,800 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,315,378 |
| Statement of Expenses | |
|---|---|
| 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. | $148,829 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $451,052 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $83,560 |
| Payroll taxes | $35,820 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,923 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $458,144 |
| Advertising and promotion | $105,608 |
| Office expenses | $77,125 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,558 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,138 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $82,242 |
| Insurance | $16,364 |
| All other expenses | $0 |
| Total functional expenses | $2,016,917 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $926,948 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,415 |
| 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 | $0 |
| Investments—publicly traded securities | $4,426,684 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,136,176 |
| Accounts payable and accrued expenses | $6,216 |
| Grants payable | $0 |
| Deferred revenue | $278,053 |
| 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 | $284,269 |
| Net assets without donor restrictions | $1,750,223 |
| Net assets with donor restrictions | $4,101,684 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $5,851,907 |