Civic Intelligence

Syracuse Symphony Foundation Inc.

990 • Fiscal year 2017 • EIN 22-2172591

Sep 01, 2016 to Aug 31, 2017 • Filed on Apr 13, 2018

100 Madison Street-tower 1 No 1905Syracuse, NY 13202

(315) 476-1010

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • NTEE A • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

3rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • NTEE A • $10M-$25M nonprofits • Source year 2017

Net Margin

12th percentile

-32%

Higher net margin than 12% of similar nonprofits.

2017 filings • NTEE A • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • NTEE A • $10M-$25M nonprofits • Source year 2017

Asset Growth

64th percentile

9.0%

Faster asset growth than 64% of similar nonprofits.

2017 filings • NTEE A • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

26th percentile

-6.1%

Faster revenue growth than 26% of similar nonprofits.

2017 filings • NTEE A • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$10,495,870

Up $863,249 (+9.0%) from 2016

Net Assets

Up

$10,495,870

Up $863,249 (+9.0%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue

Down

$317,359

Down $20,756 (-6.1%) from 2016

Expenses

Down

$418,538

Down $272,615 (-39%) from 2016

Net Income

Up

-$101,179

Up $251,859 (+71%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2011: $7,237,296Liabilities 2011: $6,861Net Assets 2011: $7,230,4352011Assets 2012: $8,680,067Liabilities 2012: $550Net Assets 2012: $8,679,5172012Assets 2013: $9,135,374Liabilities 2013: $0Net Assets 2013: $9,135,3742013Assets 2014: $10,411,013Liabilities 2014: $0Net Assets 2014: $10,411,0132014Assets 2016: $9,632,621Liabilities 2016: $0Net Assets 2016: $9,632,6212016Assets 2017: $10,495,870Liabilities 2017: $0Net Assets 2017: $10,495,8702017Assets 2019: $10,973,916Liabilities 2019: $0Net Assets 2019: $10,973,9162019Assets 2020: $12,383,457Liabilities 2020: $0Net Assets 2020: $12,383,4572020Assets 2021: $14,262,249Liabilities 2021: $4,750Net Assets 2021: $14,257,4992021Assets 2022: $12,429,668Liabilities 2022: $0Net Assets 2022: $12,429,6682022Assets 2024: $14,529,610Liabilities 2024: $0Net Assets 2024: $14,529,6102024

Highlighted filing

2017

Assets$10,495,870
Liabilities$0
Net Assets$10,495,870

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $353,705Expenses 2011: $315,959Net Income 2011: $37,7462011Revenue 2012: $1,423,825Expenses 2012: $241,373Net Income 2012: $1,182,4522012Expenses 2013: $366,0132013Revenue 2014: $345,836Expenses 2014: $324,580Net Income 2014: $21,2562014Revenue 2016: $338,115Expenses 2016: $691,153Net Income 2016: -$353,0382016Revenue 2017: $317,359Expenses 2017: $418,538Net Income 2017: -$101,1792017Revenue 2019: $231,358Expenses 2019: $663,742Net Income 2019: -$432,3842019Revenue 2020: $228,244Expenses 2020: $462,011Net Income 2020: -$233,7672020Revenue 2021: $207,292Expenses 2021: $567,199Net Income 2021: -$359,9072021Revenue 2022: $264,420Expenses 2022: $487,291Net Income 2022: -$222,8712022Revenue 2024: $291,467Expenses 2024: $538,178Net Income 2024: -$246,7112024

Highlighted filing

2017

Revenue$317,359
Expenses$418,538
Net Income-$101,179
Jump To
Filing Snapshot
Filing Period
Sep 1, 2016 to Aug 31, 2017
Signed
Apr 13, 2018
Return Version
2016v3.0
Gross Receipts
$981,473
Mission and Program Overview

Mission

The foundation invests and manages funds and assets for the purpose of supporting the presentation of symphony orchestra music in the central new york region, initiially the support of the activities of the syracuse symphony orchestra, inc. As a full-time professional symphony orchestra.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,732,785$8,171,875▲ $439,090
Savings and Temporary Cash Investments$1,884,457$2,310,565▲ $426,108
Total Assets$9,632,621$10,495,870▲ $863,249
Other Assets Total$15,379$13,430▼ $1,949
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Permanently Rstr Net Assets$7,825,692$7,825,692→ $0
Temporarily Rstr Net Assets$1,806,929$2,670,178▲ $863,249
Total Net Assets Fund Balance$9,632,621$10,495,870▲ $863,249
Total Liabilities and Net Assets / Fund Balance$9,632,621$10,495,870▲ $863,249

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$9,632,621-▲ $1,281,787-$10,495,870
2015$9,846,405$40,292▲ $437,077-$9,632,621
2014$10,411,013-▲ $121,238-$9,846,405
2013$9,135,374$6,000▲ $1,594,219-$10,411,013
2012$8,679,517$127,380▲ $694,490-$9,135,374
Compensation and Service Providers

Board Members and Trustees

NameTitle
David a a RidingsChairman
Ed GreenDirector
Elsa SoderbergDirector
Gary GrossmanDirector
Paul DrescherDirector
Alice KendrickSecretary
Stephen ChaseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$317,359
Other Revenue
$0
Change in Net Assets
$-101,179

Audited Revenue Reconciliation

Revenue per Audited Statements
$317,359
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$964,428
Total Revenue per Audited Statements
$1,281,787
Total Revenue per Form 990
$317,359
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$395,000
Other Expenses$23,538
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$395,000--$395,000
Fees for Service Investment Mgmnt Fees-$16,948-$16,948
Fees for Services Accounting-$4,750-$4,750
Insurance-$1,800-$1,800
Fees for Services Other-$40-$40
Total Functional Expenses$395,000$23,538$0$418,538

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$418,538
Total Expenses per Audited Statements$418,538
Total Expenses per Form 990$418,538
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Musical Associates of Central New YorkSyracuse, NY-Operations Grant$395,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The draft form 990 was provided to the board of directors for their review and approval prior to filing.

Form 990, Part VI, Section B, Line 12C

Board members are required to complete conflict of interest forms annually.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Syracuse Symphony Foundation Inc
EIN
22-2172591
Phone
3154761010
Address
100 MADISON STREET-TOWER 1 NO 1905, SYRACUSE, NY 13202

Signing Officer

Name
David a a Ridings
Title
Board Officer
Phone
3154761010
Signed
2018-04-13
Discuss with paid preparer
Yes

Organization Details

Formed
1977
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
D'ARCANGELO AND CO LLP
Address
329 NORTH SALINA STREET, SYRACUSE, NY 13203
Preparer
Roy Clark
Phone
3154757213
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

Endowment funds held by the foundation are used to support the foundation's mission. Annual distributions from endowment investment income and/or gains are determined by the board of directors.

PART X, LINE 2:

A recently issued accounting standard requires entities to disclose in their financial statements the nature of any uncertainty in their tax position. For tax-exempt entities, their tax-exempt status itself is deemed to be an uncertainty, since events could potentially occur to jeopardize their tax-exempt status. The foundation has implemented this standard and its current accounting policy for evaluating uncertain tax positions is in accordance with generally accepted accounting principles. The foundation has not recognized any benefits from uncertain tax positions in 2015 or 2014 and believes it has no uncertain tax positions for which it is reqasonable possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within 12 months of the balance sheet date. The foundation recognizes interest and penalties related to unrecognized tax benefits in miscellaneous expense. No interest or penalties were recognized in 2015 or 2016. The foundation files informational returns in the u.s. Rederal jurisdiction and new york state. The foundation's returns are no longer subject to examination by tax authorities for fiscal years prior to 2013.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0332000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0694490
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0418538
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0964428
IRS990ScheduleD/RevenueNotReportedAmt0964428
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0317359
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ENDOWMENT FUNDS HELD BY THE FOUNDATION ARE USED TO SUPPORT THE FOUNDATION'S MISSION. ANNUAL DISTRIBUTIONS FROM ENDOWMENT INVESTMENT INCOME AND/OR GAINS ARE DETERMINED BY THE BOARD OF DIRECTORS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1A RECENTLY ISSUED ACCOUNTING STANDARD REQUIRES ENTITIES TO DISCLOSE IN THEIR FINANCIAL STATEMENTS THE NATURE OF ANY UNCERTAINTY IN THEIR TAX POSITION. FOR TAX-EXEMPT ENTITIES, THEIR TAX-EXEMPT STATUS ITSELF IS DEEMED TO BE AN UNCERTAINTY, SINCE EVENTS COULD POTENTIALLY OCCUR TO JEOPARDIZE THEIR TAX-EXEMPT STATUS. THE FOUNDATION HAS IMPLEMENTED THIS STANDARD AND ITS CURRENT ACCOUNTING POLICY FOR EVALUATING UNCERTAIN TAX POSITIONS IS IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. THE FOUNDATION HAS NOT RECOGNIZED ANY BENEFITS FROM UNCERTAIN TAX POSITIONS IN 2015 OR 2014 AND BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS FOR WHICH IT IS REQASONABLE POSSIBLE THAT THE TOTAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL SIGNIFICANTLY INCREASE OR DECREASE WITHIN 12 MONTHS OF THE BALANCE SHEET DATE. THE FOUNDATION RECOGNIZES INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN MISCELLANEOUS EXPENSE. NO INTEREST OR PENALTIES WERE RECOGNIZED IN 2015 OR 2016. THE FOUNDATION FILES INFORMATIONAL RETURNS IN THE U.S. REDERAL JURISDICTION AND NEW YORK STATE. THE FOUNDATION'S RETURNS ARE NO LONGER SUBJECT TO EXAMINATION BY TAX AUTHORITIES FOR FISCAL YEARS PRIOR TO 2013.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt0418538
IRS990ScheduleD/TotalRevenuePerForm990Amt0317359
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01281787
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0418538
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt0395000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0OPERATIONS GRANT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1TO GET SYPMHORIA UP AND RUNNING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2EVENTS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3PROVIDE ASSISTANCE TO PERFORM EVENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MUSICAL ASSOCIATES OF CENTRAL NEW YORK
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 1161
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE DRAFT FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ARE REQUIRED TO COMPLETE CONFLICT OF INTEREST FORMS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt09632621
IRS990/TotalAssetsGrp/EOYAmt010495870
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0395000
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09632621
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010495870
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0395000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0178785
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0138574
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0317359
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0100 MADISON STREET-TOWER 1 NO 1905
IRS990/USAddress/CityNm0SYRACUSE
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd013202
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID A A RIDINGS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum03154761010
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SYRACUSE SYMPHONY FOUNDATION INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O LYNN D'ELIA TEMES & STANCZYK LLC
ReturnHeader/Filer/BusinessNameControlTxt0SYRA
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ReturnHeader/Filer/PhoneNum03154761010
ReturnHeader/Filer/USAddress/AddressLine1Txt0100 MADISON STREET-TOWER 1 NO 1905
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId029D846B37DDE88FC47E807D1E6029E6A3F649880
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0EF946F96DBC1712F3512BA80068C943E363CF92C
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0209.217.215.146
ReturnHeader/FilingSecurityInformation/IPDt02018-04-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm009:00:32
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0132550103
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0D'ARCANGELO AND CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0329 NORTH SALINA STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SYRACUSE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd013203
ReturnHeader/PreparerPersonGrp/PhoneNum03154757213
ReturnHeader/PreparerPersonGrp/PreparationDt02018-02-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROY CLARK
ReturnHeader/ReturnTs02018-04-13T14:39:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-09-01
ReturnHeader/TaxPeriodEndDt02017-08-31
ReturnHeader/TaxYr02016

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