Civic Intelligence

Annapolis Symphony Orchestra Association Inc.

990 • Fiscal year 2018 • EIN 23-7001357

Jul 01, 2017 to Jun 30, 2018 • Filed on Jan 29, 2019

801 Chase StreetAnnapolis, MD 21401

(410) 269-1132

Siviq Scores

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

Liabilities / Assets

56th percentile

0.13x

Higher debt load relative to assets than 56% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

61st percentile

0.17x

Higher debt load relative to revenue than 61% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

84th percentile

30%

Higher net margin than 84% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

82nd percentile

$144,686

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 7.2% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

89th percentile

40%

Faster asset growth than 89% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

87th percentile

48%

Faster revenue growth than 87% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$2,537,125

Up $731,248 (+40%) from 2017

Net Assets

Up

$2,203,486

Up $674,015 (+44%) from 2017

Liabilities

Up

$333,639

Up $57,233 (+21%) from 2017

Revenue

Up

$2,000,789

Up $645,874 (+48%) from 2017

Expenses

Up

$1,407,405

Up $63,379 (+4.7%) from 2017

Net Income

Up

$593,384

Up $582,495 (+5349%) from 2017

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

2018

Assets$2,537,125
Liabilities$333,639
Net Assets$2,203,486

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

2018

Revenue$2,000,789
Expenses$1,407,405
Net Income$593,384
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Jan 29, 2019
Return Version
2017v2.2
Gross Receipts
$2,315,941
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$1,249,177$1,373,607▲ $124,430
Cash and Non-Interest-Bearing Accounts$511,453$616,143▲ $104,690
Accounts Receivable$3,000$520,460▲ $517,460
Prepaid Expenses and Deferred Charges$35,519$21,678▼ $13,841
Land, Buildings, and Equipment, Net$6,728$5,237▼ $1,491
Total Assets$1,805,877$2,537,125▲ $731,248
Liabilities
Deferred Revenue$271,615$328,707▲ $57,092
Accounts Payable and Accrued Expenses$4,791$4,932▲ $141
Total Liabilities$276,406$333,639▲ $57,233
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,049,931$1,664,112▲ $614,181
Unrestricted Net Assets$479,540$539,374▲ $59,834
Total Net Assets Fund Balance$1,529,471$2,203,486▲ $674,015
Total Liabilities and Net Assets / Fund Balance$1,805,877$2,537,125▲ $731,248

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,237$31,636$36,873

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$1,249,177-▲ $124,530-$1,373,707
2016$1,177,078-▲ $157,757$85,658$1,249,177
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Patrick J NugentExecutive DirectorFT$122,089$22,597$144,686
Revenue and Support

Revenue Composition

Contributions and Grants
$1,304,420
Program Service Revenue
$652,561
Investment Income
$43,899
Other Revenue
$-91
All Other Contributions
$1,185,562
Change in Net Assets
$593,384

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table15$28,954Fair Market Value (FMV)
Total Noncash Contributions15$28,954-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,000,789
Revenue Not Reported on Form 990
$166,228
Total Revenue per Audited Statements
$2,167,017
Total Revenue per Form 990
$2,000,789
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$947,715
Other Expenses$459,690
Total Fundraising Expense$99,347
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$670,173$27,786$29,031$726,990
Current Officers, Directors, Trustees, and Key Employees$134,958$6,089$6,551$147,598
Payroll Taxes$56,611$3,765$4,474$64,850
Advertising$64,096--$64,096
All Other Expenses$16,815$11,731$23,237$51,783
Occupancy$32,539$16,030-$48,569
Other Expenses$43,475$31,086$35,483$31,086
Information Technology$19,581$5,849-$25,430
Fees for Services Accounting-$24,798-$24,798
Insurance$14,306$9,146-$23,452
Office Expenses$3,239$19,272-$22,511
Other Employee Benefits$7,225$481$571$8,277
Fees for Services Other-$6,099-$6,099
Travel$3,467$182-$3,649
Depreciation Depletion$1,163$328-$1,491
Total Functional Expenses$1,145,416$162,642$99,347$1,407,405

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,493,002
Expenses per Audited Statements$1,407,405
Total Expenses per Form 990$1,407,405
Expenses Not Reported on Form 990$85,597
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$52,686
Fundraising Gross Income$51,098
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Opening Nigh$51,098$51,098$3,909$47,189
Total Events$51,098$51,098$52,686$-1,588
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 governing body review Part VI line 11

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.

Conflict of interest policy compliance 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.

CEO executive director top management comp 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.

Governing documents etc available to public 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
Address
801 CHASE STREET, ANNAPOLIS, MD 21401

Signing Officer

Name
Patrick J Nugent
Title
Executive Direc
Phone
4102691132
Signed
2019-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laurie H Berman
Formed
1967
Legal Domicile
Md
Voting Board Members
21
Independent Board Members
21
Employees
177
Volunteers
100

Preparer

Firm
Alta CPA Group
Address
59 Franklin St 2nd Floor, Annapolis, MD 21401
Preparer
Amanda Ragula
Phone
4103495101
Supplemental Narrative

Additional Explanations

List of other expenses Part IX line 24E

PRINTING EXPENSE

General explanation attachment

Part iii - statement of program service accomplishments, line 4a (continued):program 2:complementing the masterworks series is the aso holiday pops concert. The 2016-17 holiday pops concert, christmas fiesta, featured the acclaimed group sultans of string. 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 2017-18, 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 classical kids in a performance of beethoven lives upstairs. 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 asos programs are their first and only opportunities to hear a live symphony performance and experience professional musical introduction. Other outreach activities included the free 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.

Financial Statement Notes

Endowment funds intended uses (Part V, line 4)

The organizations 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.

Other revenues not included on Form 990 (Part XI, line 2D)

Net of special event expenses: 52,686

Other expenses not included on Form 990 (Part XII, line 2D)

Net of special event expenses: 52,686

Footnote for uncertain tax position under FIN 48 (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 organizations informational return filings are subject to audit by the internal revenue service, generally for three years after filing.

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IRS990/Desc0PROGRAM 1:THE CORE PROGRAMMING OF THE ASO IS CENTERED AROUND THE MASTERWORKS 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 MASTERWORKS 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 2016-17 SEASON, THE ASO WELCOMED THE FOLLOWING ACCLAIMED SOLOISTS TO THE STAGE: MIDORI, VIOLIN; CHRISTOPHER JANWONG MCKIGGAN, PIANO; FATMA DAGLAR, OBOE; JAMES EHNES, VIOLIN; NOAH BENDIX-BALGLEY, VIOLIN. THE SERIES CONTINUES TO FEATURE WORKS THAT DELIGHT AUDIENCES AND CHALLENGE THE ORCHESTRA TO RISE TO NEW HEIGHTS OF ARTISTRY. THE MASTERWORKS SERIES IS LARGELY SUBSCRIBED, WITH OVER 800 SUBSCRIBERS OVER TWO EVENINGS AND AVERAGE CAPACITY OF OVER 75% PER (CONTINUED ON SCHEDULE O)
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