Civic Intelligence

Annapolis Symphony Orchestra Association Inc.

990 • Fiscal year 2022 • EIN 23-7001357

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 21, 2023

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

29th percentile

0.03x

Higher debt load relative to assets than 29% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

37th percentile

0.09x

Higher debt load relative to revenue than 37% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

6th percentile

-63%

Higher net margin than 6% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

62nd percentile

$150,160

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 8.6% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

3rd percentile

-26%

Faster asset growth than 3% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

4th percentile

-66%

Faster revenue growth than 4% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Down

$5,234,678

Down $1,873,243 (-26%) from 2021

Net Assets

Down

$5,077,362

Down $1,650,268 (-25%) from 2021

Liabilities

Down

$157,316

Down $222,975 (-59%) from 2021

Revenue

Down

$1,747,848

Down $3,420,310 (-66%) from 2021

Expenses

Up

$2,854,468

Up $1,317,869 (+86%) from 2021

Net Income

Down

-$1,106,620

Down $4,738,179 (-130%) from 2021

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

2022

Assets$5,234,678
Liabilities$157,316
Net Assets$5,077,362

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

2022

Revenue$1,747,848
Expenses$2,854,468
Net Income-$1,106,620
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 21, 2023
Return Version
2021v4.2
Gross Receipts
$6,080,752
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
Investments in Publicly Traded Securities$1,889,423$3,687,682▲ $1,798,259
Accounts Receivable$2,790,885$978,814▼ $1,812,071
Prepaid Expenses and Deferred Charges$36,872$463,534▲ $426,662
Cash and Non-Interest-Bearing Accounts$2,374,605$86,813▼ $2,287,792
Land, Buildings, and Equipment, Net$11,254$12,904▲ $1,650
Intangible Assets$4,882$4,931▲ $49
Total Assets$7,107,921$5,234,678▼ $1,873,243
Liabilities
Other Liabilities$198,672--
Accounts Payable and Accrued Expenses$30,430$151,391▲ $120,961
Deferred Revenue$151,189$5,925▼ $145,264
Total Liabilities$380,291$157,316▼ $222,975
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,273,097$3,582,375▲ $309,278
Net Assets Without Donor Restrictions$3,454,533$1,494,987▼ $1,959,546
Total Net Assets Fund Balance$6,727,630$5,077,362▼ $1,650,268
Total Liabilities and Net Assets / Fund Balance$7,107,921$5,234,678▼ $1,873,243

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$12,904$44,352$57,256

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$1,889,423$1,022,000▼ $356,643-$2,554,780
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Edgar HerreraExecutive DirectorFT$130,182$19,978$150,160

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,098,177
Program Service Revenue
$610,090
Investment Income
$39,581
Other Revenue
$0
All Other Contributions
$734,208
Change in Net Assets
$-1,106,620

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,719,918
Revenue Not Reported on Financial Statements
$27,930
Revenue Not Reported on Form 990
$-519,310
Total Revenue per Audited Statements
$1,200,608
Total Revenue per Form 990
$1,747,848
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,594,536
Other Expenses$1,248,916
Total Fundraising Expense$215,889
Grants and Similar Amounts Paid$11,016
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,115,079$51,864$129,661$1,296,604
Other Expenses$367,665$39,944$3,331$410,940
Current Officers, Directors, Trustees, and Key Employees$129,138$6,006$15,016$150,160
Advertising$133,062--$133,062
Occupancy$114,963$10,176-$125,139
Payroll Taxes$97,629$4,541$11,352$113,522
Information Technology$50,759$9,056-$59,815
Fees for Services Accounting-$47,140-$47,140
Other Employee Benefits$29,455$1,370$3,425$34,250
Fees for Services Other$7,500$25,015-$32,515
Travel$19,016$11,668-$30,684
Fees for Service Investment Mgmnt Fees-$27,930-$27,930
Insurance$13,138$8,399-$21,537
Office Expenses-$15,501-$15,501
Grants to Domestic Individuals$11,016--$11,016
Depreciation Depletion$5,398--$5,398
Royalties$3,594--$3,594
Total Functional Expenses$2,108,941$529,638$215,889$2,854,468

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,854,468
Total Expenses per Audited Statements$2,850,876
Expenses per Audited Statements$2,826,538
Expenses Not Reported on Financial Statements$27,930
Expenses Not Reported on Form 990$24,338
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-
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
Jill Kidwell
Title
President
Phone
4102691132
Signed
2023-04-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jill Kidwell
Formed
1967
Legal Domicile
Md
Voting Board Members
22
Independent Board Members
22
Employees
149
Volunteers
85

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 the holiday pops concert was well attended, with over 600 tickets sold. The community concert series included four local concerts. There was also an annapolis symphony academy concert and family concerts at maryland hall. The aso performed a free outdoor concert for thousands of locals at quiet waters park.

Form 990, Part III, Line 4B

Continued from page 2 it offers students throughout the school year 32 private lessons, with an option for summer lessons, weekly ensemble rehearsals, concerts, recitals, and performance opportunities in the community. This year the academy launched an early music education program called discovery which is offered in a title 1 school as part of the after-school enrichment activities. The aso academy provides all musical instruments for these young learners to begin understanding notes, composition, and sound at a very early age. The aso also provides adult education with recorded pre-concert lectures. The aso performs in local hospitals as a thank you to our medical heros. Other outreach activities included a free summer full symphonic outdoor pops concert, on labor day weekend for thousands of people at quiet waters park. Additionally, the aso partners with the annapolis opera and the,u.s. Naval academy to provide the supporting music for their performances. The aso is committed to making music and concerts accessible and it proudly shares tickets to all its concerts with the underserved communities to help bring more music to more people.

Financial Statement Notes

V 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/ProgSrvcAccomActy2Grp/Desc0A KEY COMPONENT OF THE ASO IS ITS EDUCATION AND COMMUNITY OUTREACH PROGRAMS. THE ASO HAS A LONGSTANDING PARTNERSHIP WITH THE ANNE ARUNDEL PUBLIC SCHOOLS. THE ASO PROVIDES THE REQUESTED PROFESSIONAL MUSICIANS FOR COACHING/LESSONS FOR THE TWO MIDDLE SCHOOLS/PERFORMING ARTS MAGNET SCHOOLS. EVERY YEAR THE ASO OFFERS SCHOOL CONCERTS AND A FAMILY CONCERT FOCUSED ON LEARNING ABOUT MUSIC AND THE ORCHESTRA. THE ASOS COMMITMENT TO THE COMMUNITY IS EVIDENT WITH THE ESTABLISHMENT OF THE ANNAPOLIS SYMPHONY ACADEMY IN 2018. THE ACADEMYS MISSION IS TO CHANGE LIVES BY PROVIDING ACCESSIBLE HIGH-LEVEL MUSICAL EDUCATION TO STUDENTS OF ALL CULTURAL AND ECONOMIC BACKGROUNDS, WHILE ADDRESSING THE UNDER-REPRESENTATION OF MUSICIANS OF COLOR IN THE CLASSICAL MUSIC FIELD. HALF OF THE ACADEMY STUDENTS ARE FROM UNDER-SERVED COMMUNITIES. THE ACADEMY CREATES A MODEL FOR DIVERSITY THAT EMPHASIZES INTERACTION AND MUTUAL RESPECT CONTINUED ON SCHEDULE O
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