Civic Intelligence

Annapolis Symphony Orchestra Association Inc.

990 • Fiscal year 2016 • EIN 23-7001357

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 28, 2016

801 Chase StreetAnnapolis, MD 21401

(410) 224-3141

Siviq Scores

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

Liabilities / Assets

54th percentile

0.13x

Higher debt load relative to assets than 54% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

62nd percentile

0.20x

Higher debt load relative to revenue than 62% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

18th percentile

-14%

Higher net margin than 18% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

45th percentile

$51,808

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

9th percentile

-15%

Faster asset growth than 9% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

15th percentile

-21%

Faster revenue growth than 15% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$1,622,857

Down $278,360 (-15%) from 2015

Net Assets

Down

$1,416,780

Down $242,412 (-15%) from 2015

Liabilities

Down

$206,077

Down $35,948 (-15%) from 2015

Revenue

Down

$1,040,942

Down $278,739 (-21%) from 2015

Expenses

Up

$1,191,711

Up $37,570 (+3.3%) from 2015

Net Income

Down

-$150,769

Down $316,309 (-191%) from 2015

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2013: $1,520,391Liabilities 2013: $204,320Net Assets 2013: $1,316,0712013Assets 2014: $1,650,624Liabilities 2014: $185,220Net Assets 2014: $1,465,4042014Assets 2015: $1,901,217Liabilities 2015: $242,025Net Assets 2015: $1,659,1922015Assets 2016: $1,622,857Liabilities 2016: $206,077Net Assets 2016: $1,416,7802016Assets 2017: $1,805,877Liabilities 2017: $276,406Net Assets 2017: $1,529,4712017Assets 2018: $2,537,125Liabilities 2018: $333,639Net Assets 2018: $2,203,4862018Assets 2019: $2,682,268Liabilities 2019: $367,334Net Assets 2019: $2,314,9342019Assets 2020: $2,980,940Liabilities 2020: $135,472Net Assets 2020: $2,845,4682020Assets 2021: $7,107,921Liabilities 2021: $380,291Net Assets 2021: $6,727,6302021Assets 2022: $5,234,678Liabilities 2022: $157,316Net Assets 2022: $5,077,3622022Assets 2023: $4,510,356Liabilities 2023: $267,148Net Assets 2023: $4,243,2082023Assets 2024: $5,847,910Liabilities 2024: $247,256Net Assets 2024: $5,600,6542024Assets 2025: $8,699,982Liabilities 2025: $231,849Net Assets 2025: $8,468,1332025

Highlighted filing

2016

Assets$1,622,857
Liabilities$206,077
Net Assets$1,416,780

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2013: $1,110,4092013Revenue 2014: $1,186,301Expenses 2014: $1,047,501Net Income 2014: $138,8002014Revenue 2015: $1,319,681Expenses 2015: $1,154,141Net Income 2015: $165,5402015Revenue 2016: $1,040,942Expenses 2016: $1,191,711Net Income 2016: -$150,7692016Revenue 2017: $1,354,915Expenses 2017: $1,344,026Net Income 2017: $10,8892017Revenue 2018: $2,000,789Expenses 2018: $1,407,405Net Income 2018: $593,3842018Revenue 2019: $1,804,242Expenses 2019: $1,696,956Net Income 2019: $107,2862019Revenue 2020: $2,340,502Expenses 2020: $1,554,575Net Income 2020: $785,9272020Revenue 2021: $5,168,158Expenses 2021: $1,536,599Net Income 2021: $3,631,5592021Revenue 2022: $1,747,848Expenses 2022: $2,854,468Net Income 2022: -$1,106,6202022Revenue 2023: $2,660,149Expenses 2023: $3,849,447Net Income 2023: -$1,189,2982023Revenue 2024: $3,919,972Expenses 2024: $2,698,610Net Income 2024: $1,221,3622024Revenue 2025: $5,321,432Expenses 2025: $2,740,146Net Income 2025: $2,581,2862025

Highlighted filing

2016

Revenue$1,040,942
Expenses$1,191,711
Net Income-$150,769
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 28, 2016
Return Version
2015v2.1
Gross Receipts
$2,564,929
Mission and Program Overview

Mission

The mission of the annapolis symphony orchestra is to inspire, educate and enrich lives near and far by creating extraordinary musical experiences with uncompromising artistic excellence.

The mission of the annapolis symphony orchestra is to produce, present and promote memorable symphonic music that increases awareness, enjoyment, and appreciation of music for all ages throughout the region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,331,084$1,176,608▼ $154,476
Cash and Non-Interest-Bearing Accounts$340,337$318,519▼ $21,818
Pledges and Grants Receivable$200,000$102,417▼ $97,583
Prepaid Expenses and Deferred Charges$22,655$19,969▼ $2,686
Land, Buildings, and Equipment, Net$3,677$5,344▲ $1,667
Accounts Receivable$3,464--
Total Assets$1,901,217$1,622,857▼ $278,360
Liabilities
Deferred Revenue$238,408$205,590▼ $32,818
Accounts Payable and Accrued Expenses$3,617$487▼ $3,130
Total Liabilities$242,025$206,077▼ $35,948
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,130,087$963,118▼ $166,969
Unrestricted Net Assets$529,105$453,662▼ $75,443
Total Net Assets Fund Balance$1,659,192$1,416,780▼ $242,412
Total Liabilities and Net Assets / Fund Balance$1,901,217$1,622,857▼ $278,360

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,344$35,251$40,595

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$1,331,079$1,000▼ $17,825$137,176$1,177,078
2014$1,439,660-▲ $27,419$136,000$1,331,079
2013$1,299,153-▲ $204,847$64,340$1,439,660
2012$1,213,105$5,000▲ $139,924$58,874$1,299,153
2011$1,266,390$55,325▼ $43,612$65,000$1,213,103
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Patrick NugentExecutive DiFT$34,616$17,192$51,808
Revenue and Support

Revenue Composition

Contributions and Grants
$541,942
Program Service Revenue
$431,746
Investment Income
$74,084
Other Revenue
$-6,830
All Other Contributions
$422,426
Change in Net Assets
$-150,769

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded7$29,815Fair Market Value
Other Non Cash Contri Table1$8,195Fair Market Value
Total Noncash Contributions8$38,010-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,040,942
Revenue Not Reported on Form 990
$24,412
Total Revenue per Audited Statements
$1,065,354
Total Revenue per Form 990
$1,040,942
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$904,530
Other Expenses$287,181
Total Fundraising Expense$48,310
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$666,241$23,243$29,479$718,963
Current Officers, Directors, Trustees, and Key Employees$105,925$3,696$4,687$114,308
Payroll Taxes$51,628$1,801$2,285$55,714
Office Expenses$22,488$27,177$421$50,086
Occupancy$28,133$14,872-$43,005
Advertising$37,952--$37,952
Fees for Services Accounting-$23,158-$23,158
Insurance$12,161$7,775-$19,936
Information Technology$12,314$3,678-$15,992
Other Employee Benefits$14,406$502$637$15,545
Other Expenses$18,938$7,798$10,801$7,798
All Other Expenses-$7,485-$7,485
Fees for Services Other-$7,250-$7,250
Travel$5,707$117-$5,824
Royalties$5,324--$5,324
Depreciation Depletion$1,220$344-$1,564
Total Functional Expenses$1,014,505$128,896$48,310$1,191,711

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,307,766
Expenses per Audited Statements$1,191,711
Total Expenses per Form 990$1,191,711
Expenses Not Reported on Form 990$116,055
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$95,297
Fundraising Gross Income$87,555
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Opening Night$100,515$87,555$35,999$51,556
Total Events$100,515$87,555$95,297$-7,742
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
Audit committee
Yes
Backup withholding compliance
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
Yes
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, Page 6, Part VI, Line 11B

The form 990 is initially reviewed by the finance committee and then distributed to the entire board for review prior to submission with the irs.

Form 990, Page 6, Part VI, Line 12C

Trustees are required to sign an "annual affirmation of compliance and disclosure statement" each year. A board member who has an active interest in another person or purpose within the aso or another organization that presents a potential conflict shall exercise recusal in any discussion and action on issues relating to that person or organization.

Form 990, Page 6, Part VI, Line 15A

Compensation of the executive director and the music director is reviewed annually by the chair of the board in coordination with the personnel committee.

Form 990, Page 6, Part VI, Line 19

Governing documents are available for review upon request. The form 990 is also available for review on guidestar.com.

Filing and Contact Details

Filer

Filer Name
Annapolis Symphony Orchestra Inc
EIN
23-7001357
Phone
4102243141
Address
801 CHASE STREET, ANNAPOLIS, MD 21401

Signing Officer

Name
Patrick Nugent
Title
Executive Director
Phone
4102243141
Signed
2016-11-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen W Smith
Formed
1967
Legal Domicile
Md
Voting Board Members
21
Independent Board Members
21
Employees
185
Volunteers
150

Preparer

Firm
Toal Griffith Ragula LLC
Address
130 ADMIRAL COCHRANE DR SUITE 200, ANNAPOLIS, MD 21401-7368
Preparer
Amanda R Ragula CPA
Phone
4102240343
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Audiences and challenge the orchestra to rise to new heights of artistry. The lexus classic series is largely subscribed, with over 800 subscribers over two evenings and average capacity of over 75% per performance. Program 2: complementing the lexus classic series is the aso holiday pops concert. The 2015-16 holiday pops concert, simply sinatra christmas, featured the acclaimed sinatra interpreter, steve lippia. The concert received great accolades from audience members of all ages. Program 3: a key component of the aso is its education and outreach programs. In 2015-16, the aso continued its programming for youth and family audiences with four education concerts performed for second graders at maryland hall in annapolis. The concert, which introduces the symphony to young listeners, featured really inventive stuff theatrical storytellers in a performance of leopold mozart's toy symphony and benjamin britten's young person's guide to the orchestra. Another key element of the education outreach initiatives includes the adopt-a-school program. Adopt-a-school partnerships continued with annapolis elementary and middle school, bringing professional aso musicians in to the schools to mentor music students. The music van provided approximately 800 anne arundel county third graders the opportunity to learn about the instrument families, meet musicians who play them, and encourage participation in school music programs. Approximately 30% of the students are from underserved title i schools and neighborhoods. For many of these students, the aso's programs are their first and only opportunities to hear a live symphony performance and experience professional musical introduction. Other outreach activities included the free lexus summer pops concert, an outdoor full symphonic concert presented on labor day weekend at quiet waters park. The aso summer pops concert attracts a diverse audience from throughout the county. The concert remains the highest attended at quiet waters with approximately 3,000 people.

Form 990, Part XI, Line 9

Reclassification of fundraising expenses 95,297 reclassification of fundraising expenses -95,297

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The organization's endowment is designed to provide a permanent and reliable flow of funds to the operating budget, with the intent that these funds will grow at least as fast as the cost of goods and services used by annapolis symphony orchestra, inc.

Schedule D, Page 3, Part X

The organization is a nonprofit corporation whose revenue is derived from contributions and other fundraising activities and is not subject to federal or state income taxes. The organization is exempt under section 501(c)(3) of the internal revenue code. The organization's informational return filings are subject to audit by the internal revenue service, generally for three years after filing.

Schedule D, Page 4, Part XI, Line 2D

Reclassification of fundraising expenses 95,297

Schedule D, Page 4, Part XII, Line 2D

Reclassification of fundraising expenses 95,297

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IRS990/ActivityOrMissionDesc0THE MISSION OF THE ANNAPOLIS SYMPHONY ORCHESTRA IS TO PRODUCE, PRESENT AND PROMOTE MEMORABLE SYMPHONIC MUSIC THAT INCREASES AWARENESS, ENJOYMENT, AND APPRECIATION OF MUSIC FOR ALL AGES THROUGHOUT THE REGION.
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IRS990/Desc0PROGRAM 1: THE CORE PROGRAMMING OF THE ASO IS CENTERED AROUND THE LEXUS CLASSIC SERIES, FIVE PROGRAMS (TWO PERFORMANCES EACH), FEATURING SYMPHONIC REPERTOIRE FROM VARIOUS PERIODS OF MUSIC HISTORY, AND USUALLY FEATURING A DISTINGUISHED GUEST SOLOIST FROM THE INTERNATIONAL ROSTER OF MUSICAL ARTISTS. THE LEXUS CLASSIC SERIES PROGRAMS ARE GIVEN FIVE REHEARSALS FOR PREPARATION, AND TAKE PLACE FRIDAY AND SATURDAY EVENINGS FROM OCTOBER THROUGH MAY AT MARYLAND HALL FOR THE CREATIVE ARTS. THROUGHOUT THE 2015-16 SEASON, THE ASO WELCOMED THE FOLLOWING ACCLAIMED SOLOISTS TO THE STAGE: WILLIAM WOLFRAM, PIANO; NETANEL DRAIBLATE, VIOLIN; LYNN HARRELL, CELLO; MICHAEL ROLL, PIANO. THE SERIES CONTINUES TO FEATURE WORKS THAT DELIGHT AUDIENCES AND CHALLENGE THE ORCHESTRA TO RISE TO NEW HEIGHTS OF ARTISTRY. THE LEXUS CLASSIC SERIES IS LARGELY SUBSCRIBED, WITH OVER 800 SUBSCRIBERS OVER TWO EVENINGS AND AVERAGE CAPACITY OF OVER 75% PER PERFORMANCE. PROGRAM 2: COMPLEMENTING THE LEXUS CLASSIC SERIES IS THE ASO HOLIDAY POPS CONCERT. THE 2015-16 HOLIDAY POPS CONCERT, SIMPLY SINATRA CHRISTMAS, FEATURED THE ACCLAIMED SINATRA INTERPRETER, STEVE LIPPIA. THE CONCERT RECEIVED GREAT ACCOLADES FROM AUDIENCE MEMBERS OF ALL AGES. PROGRAM 3: A KEY COMPONENT OF THE ASO IS ITS EDUCATION AND OUTREACH PROGRAMS. IN 2015-16, THE ASO CONTINUED ITS PROGRAMMING FOR YOUTH AND FAMILY AUDIENCES WITH FOUR EDUCATION CONCERTS PERFORMED FOR SECOND GRADERS AT MARYLAND HALL IN ANNAPOLIS. THE CONCERT, WHICH INTRODUCES THE SYMPHONY TO YOUNG LISTENERS, FEATURED REALLY INVENTIVE STUFF THEATRICAL STORYTELLERS IN A PERFORMANCE OF LEOPOLD MOZART'S TOY SYMPHONY AND BENJAMIN BRITTEN'S YOUNG PERSON'S GUIDE TO THE ORCHESTRA. ANOTHER KEY ELEMENT OF THE EDUCATION OUTREACH INITIATIVES INCLUDES THE ADOPT-A-SCHOOL PROGRAM. ADOPT-A-SCHOOL PARTNERSHIPS CONTINUED WITH ANNAPOLIS ELEMENTARY AND MIDDLE SCHOOL, BRINGING PROFESSIONAL ASO MUSICIANS IN TO THE SCHOOLS TO MENTOR MUSIC STUDENTS. THE MUSIC VAN PROVIDED APPROXIMATELY 800 ANNE ARUNDEL COUNTY THIRD GRADERS THE OPPORTUNITY TO LEARN ABOUT THE INSTRUMENT FAMILIES, MEET MUSICIANS WHO PLAY THEM, AND ENCOURAGE PARTICIPATION IN SCHOOL MUSIC PROGRAMS. APPROXIMATELY 30% OF THE STUDENTS ARE FROM UNDERSERVED TITLE I SCHOOLS AND NEIGHBORHOODS. FOR MANY OF THESE STUDENTS, THE ASO'S PROGRAMS ARE THEIR FIRST AND ONLY OPPORTUNITIES TO HEAR A LIVE SYMPHONY PERFORMANCE AND EXPERIENCE PROFESSIONAL MUSICAL INTRODUCTION. OTHER OUTREACH ACTIVITIES INCLUDED THE FREE LEXUS SUMMER POPS CONCERT, AN OUTDOOR FULL SYMPHONIC CONCERT PRESENTED ON LABOR DAY WEEKEND AT QUIET WATERS PARK. THE ASO SUMMER POPS CONCERT ATTRACTS A DIVERSE AUDIENCE FROM THROUGHOUT THE COUNTY. THE CONCERT REMAINS THE HIGHEST ATTENDED AT QUIET WATERS WITH APPROXIMATELY 3,000 PEOPLE.
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