Grand Rapids Symphony Foundation
- Assets
- $26.9m
- Revenue
- $2.4m
- Investments
- $112.1k
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 03/2017
- Data as of
- 08/2022
- EIN
- 81-4564213
Organization Overview
Grand Rapids Symphony Foundation is located in Grand Rapids, MI. The organization was established in 2017. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Rapids Symphony Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTS THE OPERATIONS AND PROGRAMS OF THE GRAND RAPIDS SYMPHONY SOCIETY THROUGH SUSTAINMENT OF THE ORCHESTRA'S CONCERT, MUSIC EDUCATION AND ACCESSIBILITY PROGRAMMING ACROSS WEST MICHIGAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS TO THE GRAND RAPIDS SYMPHONY SOCIETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan Garety Outgoing Cha | OfficerTrustee | 1 | $0 |
Robert Collier Part Yr Vice | OfficerTrustee | 1 | $0 |
Jennifer Remondino Secretary | OfficerTrustee | 1 | $0 |
Laina Mills Part Yr Chai | OfficerTrustee | 1 | $0 |
William Walker Outgoing Vic | OfficerTrustee | 1 | $0 |
Mary Tuuk Kuras Outgoing Pre | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $661,550 |
| Noncash contributions included in lines 1a–1f | $500,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $661,550 |
| Total Program Service Revenue | $0 |
| Investment income | $1,241,569 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $455,229 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,358,348 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,200,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $140,213 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,031 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $694 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,155 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $16,247 |
| Total functional expenses | $1,397,165 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,802 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,951,028 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $24,344,953 |
| Investments—other securities | $112,132 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $458,606 |
| Total assets | $26,897,521 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,366 |
| Total liabilities | $10,366 |
| Net assets without donor restrictions | -$2,484,722 |
| Net assets with donor restrictions | $29,371,877 |
| 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 | $26,897,521 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Grand Rapids Symphony Foundation has recieved totaling $9,825.
| Awarding Organization | Amount |
|---|---|
Grand Rapids Community Foundation Grand Rapids, MI PURPOSE: GENERAL OPERATING SUPPORT | $9,825 |
View Grant Recipient Profile
Endowment Analysis
| Beg. Balance | $32,386,632 |
| Earnings | -$2,307,171 |
| Admin Expense | $169,134 |
| Net Contributions | $661,550 |
| Grants | $1,200,000 |
| Ending Balance | $29,371,877 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wisconsin Public Broadcasting Foundation Inc Madison, WI | $32,720,675 | $11,782,247 |
Indianapolis Symphony Orchestra Foundation Inc Indianapolis, IN | $120,040,413 | $10,534,808 |
Wisconsin History Foundation Inc Madison, WI | $57,186,900 | $14,378,166 |
Minnetrista Cultural Foundation Inc Muncie, IN | $19,419,646 | $5,083,805 |
Toledo Alliance For The Performing Arts Toledo, OH | $24,676,048 | $6,839,703 |
Overture Center Foundation Inc Madison, WI | $20,998,721 | $8,215,874 |
Air Force Museum Foundation Inc Wright Patterson Afb, OH | $28,184,823 | $8,102,292 |
Conner Prairie Foundation Inc Fishers, IN | $182,758,575 | $6,601,081 |
John L Severance Brooklyn, OH | $58,165,574 | $2,331,201 |
Air Zoo Legacy Foundation Portage, MI | $89,399,860 | $9,308,646 |
Overture Development Corporation Madison, WI | $128,656,351 | $0 |
Michigans Thanksgiving Parade Detroit, MI | $9,957,925 | $2,964,645 |