Baltimore Symphony Endowment Trust
- Assets
- $93.6m
- Revenue
- $1.3m
- Investments
- $7.1m
- Employees
- 9
- Location
- Baltimore, MD
- Founding
- 07/2006
- Data as of
- 08/2020
- EIN
- 77-0659339
Organization Overview
Baltimore Symphony Endowment Trust is located in Baltimore, MD. The organization was established in 2006. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 08/2021, Baltimore Symphony Endowment Trust employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baltimore Symphony Endowment Trust 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 08/2020, Baltimore Symphony Endowment Trust generated $1.3m 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 (19.3%) each year. All expenses for the organization totaled $5.9m during the year ending 08/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE BALTIMORE SYMPHONY ORCHESTRA IN ACCOMPLISHING ITS MISSIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BALTIMORE SYMPHONY ENDOWMENT TRUST IS A SUPPORTING ORGANIZATION OF THE BALTIMORE SYMPHONY ORCHESTRA, INC. (BSO) AND EXISTS TO SUPPORT BSO IN ACCOMPLISHING ITS MISSIONS. THE DEPRECIATION EXPENSE OF THE ENDOWMENT TRUST RELATES TO ASSETS USED BY THE BSO IN FURTHERANCE OF ITS MISSIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Peter T Kjome Board Member And CEO | Trustee | 8 | $43,478 |
Ms Allison Burr-Livingstone VP & Chief Advancement Officer | 10 | $38,101 | |
Ms Sarah Beckwith Vice President And CFO | Officer | 4 | $14,181 |
Mr Steven R Schuh Treasurer | OfficerTrustee | 1 | $0 |
Mr Chris Barlett Chairman | OfficerTrustee | 1 | $0 |
Mr Kenneth W Defontes Jr Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Schindler Elevator Corporation Elevator Contractor | 8/30/19 | $342,706 |
Freestate Electrical Construction Compan Electrical Contractor | 8/30/19 | $136,907 |
Structural Restoration Services Inc Construction Contractor | 8/30/19 | $113,513 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,596,340 |
| Investment income | $979,747 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,286,709 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,289,378 |
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $375,772 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,240 |
| Fees for services: Management | $26,184 |
| 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 | $220,567 |
| Fees for services: Other | $69,714 |
| Advertising and promotion | $8,004 |
| Office expenses | $2,569 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $132,272 |
| Travel | $85 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,522 |
| Interest | $160,870 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,227,969 |
| Insurance | $73,356 |
| All other expenses | $0 |
| Total functional expenses | $5,939,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,252 |
| Savings and temporary cash investments | $5,828,826 |
| Pledges and grants receivable | $2,639,575 |
| 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 | $0 |
| Investments—publicly traded securities | $58,768,526 |
| Investments—other securities | $7,077,752 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $878,693 |
| Total assets | $93,563,260 |
| Accounts payable and accrued expenses | $212,923 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $4,525,768 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $369,642 |
| Total liabilities | $5,108,333 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $88,454,927 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Baltimore Symphony Endowment Trust has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Baltimore Community Foundation Inc Baltimore, MD PURPOSE: GENERAL SUPPORT AND VARIOUS PROJECTS | $30,000 |
Endowment Analysis
| Beg. Balance | $71,259,587 |
| Earnings | $15,396,000 |
| Admin Expense | $101,807 |
| Net Contributions | $947,859 |
| Other Expense | $687,229 |
| Grants | $3,449,210 |
| Ending Balance | $83,365,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Virginia Investment Management Company Charlottesville, VA | $10,038,884,501 | $457,345,731 |
University Of Maryland Obstetrical And Gynecological Associates P A Baltimore, MD | $13,649,114 | $19,437,289 |
St Coletta Special Education Charter School Washington, DC | $5,593,916 | $18,247,797 |
Unidel Foundation Inc Greenville, DE | $452,249,782 | $36,851,681 |
Educational Foundation Of America Bethesda, MD | $294,733,951 | $32,812,396 |
Old Dominion University Educational Foundation Norfolk, VA | $390,141,589 | $33,517,872 |
Marshall University Foundation Incorporated Huntington, WV | $365,151,220 | $39,444,191 |
Virginia Commonwealth University Foundation Richmond, VA | $117,210,353 | $9,637,107 |
University Of Virginia Healt Foundation Charlottesville, VA | $89,840,390 | $9,560,297 |
St Catherines School Foundation Richmond, VA | $65,797,019 | $8,901,214 |
Eastern Virginia Medical School Foundation Norfolk, VA | $165,919,612 | $19,028,464 |
Employee Benefit Trust Of Northampton Co Area Community Coll Bethlehem, PA | $1,194,772 | $10,407,527 |