Civic Intelligence

Annapolis Symphony Orchestra Association Inc.

990 • Fiscal year 2021 • EIN 23-7001357

Jul 01, 2020 to Jun 30, 2021 • Filed on Jan 11, 2022

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

36th percentile

0.05x

Higher debt load relative to assets than 36% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

33rd percentile

0.07x

Higher debt load relative to revenue than 33% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

93rd percentile

70%

Higher net margin than 93% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

25th percentile

$27,939

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

96th percentile

138%

Faster asset growth than 96% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

90th percentile

121%

Faster revenue growth than 90% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Up

$7,107,921

Up $4,126,981 (+138%) from 2020

Net Assets

Up

$6,727,630

Up $3,882,162 (+136%) from 2020

Liabilities

Up

$380,291

Up $244,819 (+181%) from 2020

Revenue

Up

$5,168,158

Up $2,827,656 (+121%) from 2020

Expenses

Down

$1,536,599

Down $17,976 (-1.2%) from 2020

Net Income

Up

$3,631,559

Up $2,845,632 (+362%) from 2020

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

2021

Assets$7,107,921
Liabilities$380,291
Net Assets$6,727,630

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

2021

Revenue$5,168,158
Expenses$1,536,599
Net Income$3,631,559
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jan 11, 2022
Return Version
2020v4.1
Gross Receipts
$5,624,421
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$414,175$2,790,885▲ $2,376,710
Cash and Non-Interest-Bearing Accounts$1,033,866$2,374,605▲ $1,340,739
Investments in Publicly Traded Securities$1,495,520$1,889,423▲ $393,903
Prepaid Expenses and Deferred Charges$26,259$36,872▲ $10,613
Land, Buildings, and Equipment, Net$11,120$11,254▲ $134
Intangible Assets-$4,882-
Total Assets$2,980,940$7,107,921▲ $4,126,981
Liabilities
Other Liabilities-$198,672-
Deferred Revenue$132,903$151,189▲ $18,286
Accounts Payable and Accrued Expenses$2,569$30,430▲ $27,861
Total Liabilities$135,472$380,291▲ $244,819
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$920,293$3,454,533▲ $2,534,240
Net Assets With Donor Restrictions$1,925,175$3,273,097▲ $1,347,922
Total Net Assets Fund Balance$2,845,468$6,727,630▲ $3,882,162
Total Liabilities and Net Assets / Fund Balance$2,980,940$7,107,921▲ $4,126,981

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,254$40,285$51,539

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$1,495,520$190,000▲ $203,903-$1,889,423
2019$1,445,765-▲ $49,755-$1,495,520
2018$1,373,607-▲ $72,158-$1,445,765
2017$1,249,177-▲ $124,530-$1,373,707
2016$1,177,078-▲ $157,757-$1,249,177
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Edgar HerreraExecutive DirectorFT$25,073$2,866$27,939

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$4,741,632
Program Service Revenue
$283,225
Investment Income
$143,301
Other Revenue
$0
All Other Contributions
$4,531,556
Change in Net Assets
$3,631,559

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,168,158
Revenue Not Reported on Form 990
$254,834
Total Revenue per Audited Statements
$5,422,992
Total Revenue per Form 990
$5,168,158
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$952,441
Other Expenses$584,158
Total Fundraising Expense$128,411
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$566,029$37,311$66,812$670,152
Other Expenses$204,579$1,931$27,480$204,579
Current Officers, Directors, Trustees, and Key Employees$123,039$5,723$14,307$143,069
Payroll Taxes$95,985$4,464$11,161$111,610
Information Technology$75,324$6,589-$81,913
Occupancy$66,397$10,176-$76,573
Office Expenses-$32,169$5,890$38,059
Advertising$37,495--$37,495
Other Employee Benefits$23,746$1,103$2,761$27,610
Fees for Services Accounting-$26,929-$26,929
Fees for Services Other$4,808$18,816-$23,624
Insurance$13,278$8,490-$21,768
Royalties$7,275--$7,275
Travel$3,467$212-$3,679
Depreciation Depletion$2,590$732-$3,322
Total Functional Expenses$1,245,196$162,992$128,411$1,536,599

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,540,830
Expenses per Audited Statements$1,536,599
Total Expenses per Form 990$1,536,599
Expenses Not Reported on Form 990$4,231
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$198,672
Paychex Protection Loan-
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 35% controlled entity
No
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, Part VI, Section B, 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, Part VI, Section B, 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, Part VI, Section B, 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, Part VI, Section C, 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
4102691132
Address
801 CHASE STREET, ANNAPOLIS, MD 21401

Signing Officer

Name
Edgar Herrera
Title
Executive Director
Signed
2022-01-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jill Kidwell
Formed
1967
Legal Domicile
Md
Voting Board Members
23
Independent Board Members
23
Employees
138
Volunteers
23

Preparer

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

Additional Explanations

Form 990, Part III, Line 4A

Continued from page 2 throughout the season, the aso welcomed the following acclaimed soloists to the stage chee yun, violin robert dilutis, clarinet wu man, pipa. The series continued to feature works that delighted audiences and challenge the orchestra to rise to new heights of artistry. In spite of the pandemic, the masterworks series continued to be largely subscribed, with over 700 subscribers over two evenings. Over 500 subscriptions were sold for the aso symphony platform. Due to the pandemic, the holiday pops concert was cancelled, the aso replaced it with holiday harmony, a set of 12 digital free daily performances for patrons. The chamber series concerts were cancelled due to the pandemic, as well as the education concerts and family performances. The aso performed a couple of free outdoor concerts for a limited number of patrons at gresham estate in maryland.

Form 990, Part III, Line 4C

Continued from page 2 the annapolis symphony academy, a wholly-owned educational project of the annapolis symphony orchestra, is a talent development program for gifted middle- and high-school student musicians of diverse ethnic and economic backgrounds it is the annapolis symphonys contribution to building the diverse orchestra of the future backgrounds with the opportunities and benefits of high-caliber instrumental music education regardless of ability to pay. The academy identifies and nurtures musical talent and classical music expertise in promising students from ages six through eighteen, with special attention to students who cannot afford private lessons, and special attention to attracting african-american and latino students.

Financial Statement Notes

I 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.

X 2

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 501c3 of the internal revenue code.

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IRS990/Form990PartVIISectionAGrp/PersonNm20ELIZABETH MAXWELL-SCHMIDT
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IRS990/Form990PartVIISectionAGrp/PersonNm22MARY MCKIEL
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IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR - FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIR
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IRS990/MissionDesc0THE 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.
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IRS990/ProgSrvcAccomActy3Grp/Desc0A KEY COMPONENT OF THE ASO IS ITS EDUCATION AND OUTREACH PROGRAMS. THE ASO CONTINUED ITS PROGRAMMING FOR YOUTH AND FAMILY AUDIENCES. UNFORTUNATELY, THE FOUR EDUCATION CONCERTS PERFORMED FOR SECOND GRADERS AT MARYLAND HALL AND THE FAMILY CONCERT THE LIFE TIMES OF BEETHOVEN WERE CANCELLED DUE TO THE PANDEMIC. ANOTHER KEY ELEMENT OF THE EDUCATION OUTREACH INITIATIVES INCLUDES THE ADOPT-A-SCHOOL PROGRAM. THE ADOPT-A-SCHOOL PARTNERSHIP CONTINUED WITH ANNAPOLIS MIDDLE SCHOOL AND THEIR PERFORMING AND VISUAL ARTS PROGRAM, BRINGING PROFESSIONAL ASO MUSICIANS IN TO THE SCHOOLS TO MENTOR MUSIC STUDENTS. UNFORTUNATELY, THE MUSIC VAN PROGRAM WHICH TYPICALLY PROVIDES APPROXIMATELY 700 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 WAS ALSO CANCELLED DUE TO THE PANDEMIC. OTHER OUTREACH ACTIVITIES INCLUDED THE FREE SUMMER POPS CONCERT, AN OUTDOOR FULL SYMPHONIC CONCERT PRESENTED ON LABOR DAY WEEKEND AT QUIET WATERS PARK. SEE SCHEDULE O
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