Civic Intelligence

Annapolis Symphony Orchestra Association Inc.

990 • Fiscal year 2024 • EIN 23-7001357

Jul 01, 2023 to Jun 30, 2024 • Filed on Jan 20, 2025

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

34th percentile

0.04x

Higher debt load relative to assets than 34% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

30th percentile

0.06x

Higher debt load relative to revenue than 30% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

81st percentile

31%

Higher net margin than 81% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

58th percentile

$147,500

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

86th percentile

30%

Faster asset growth than 86% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

83rd percentile

47%

Faster revenue growth than 83% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$5,847,910

Up $1,337,554 (+30%) from 2023

Net Assets

Up

$5,600,654

Up $1,357,446 (+32%) from 2023

Liabilities

Down

$247,256

Down $19,892 (-7.4%) from 2023

Revenue

Up

$3,919,972

Up $1,259,823 (+47%) from 2023

Expenses

Down

$2,698,610

Down $1,150,837 (-30%) from 2023

Net Income

Up

$1,221,362

Up $2,410,660 (+203%) from 2023

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

2024

Assets$5,847,910
Liabilities$247,256
Net Assets$5,600,654

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

2024

Revenue$3,919,972
Expenses$2,698,610
Net Income$1,221,362
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 20, 2025
Return Version
2023v6.0
Gross Receipts
$4,270,171
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$3,468,640$4,830,313▲ $1,361,673
Accounts Receivable$812,444$628,080▼ $184,364
Cash and Non-Interest-Bearing Accounts$169,304$352,367▲ $183,063
Prepaid Expenses and Deferred Charges$33,440$17,942▼ $15,498
Land, Buildings, and Equipment, Net$22,930$16,942▼ $5,988
Intangible Assets$3,598$2,266▼ $1,332
Total Assets$4,510,356$5,847,910▲ $1,337,554
Liabilities
Deferred Revenue$205,061$193,927▼ $11,134
Accounts Payable and Accrued Expenses$62,087$53,329▼ $8,758
Total Liabilities$267,148$247,256▼ $19,892
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,600,162$3,831,744▲ $1,231,582
Net Assets Without Donor Restrictions$1,643,046$1,768,910▲ $125,864
Total Net Assets Fund Balance$4,243,208$5,600,654▲ $1,357,446
Total Liabilities and Net Assets / Fund Balance$4,510,356$5,847,910▲ $1,337,554

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$16,942$56,327$73,269

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$2,858,659$546,671▲ $280,456-$3,685,786
2022$2,537,814$173,564▲ $147,281-$2,858,659
2021$2,883,966-▼ $346,152-$2,537,814
2020$1,495,520$1,184,543▲ $203,903-$2,883,966
2019$1,445,765-▲ $49,755-$1,495,520
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jose Luis-novoArtisitic Director and ConductorFT$124,249$23,251$147,500
Barbara RandolphExecutive DirectorFT$124,583$8,775$133,358

Board Members and Trustees

NameTitle
Shelley RowChair
Mary Mckiel PhdImmediate Past Chair
Katherine EdwardsVice Chair
Ann WhitcombVice President-finance
Charles GrudzinskasDirector
Christine YoungDirector
Collot GuerardDirector
Deb HoweDirector
Elizabeth Maxwell SchmidtDirector
Florence CalvertDirector
Georgianna CrosbyDirector
Ginger FromDirector
Jerray SlocumDirector
Jill KidwellDirector
Marie TreanorDirector
Michelle HellsternDirector
Mimi JonesDirector
Robert AriasDirector
Sonja GladwinDirector
William DavisDirector
Elizabeth Maxwell-schmidtAsst Secretary
Ralph KunclChief Executive Officer as of 4/1/2024
Monique LangstonSecretary
Stephen SotackTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,976,352
Program Service Revenue
$709,618
Investment Income
$234,002
Other Revenue
$0
All Other Contributions
$2,632,395
Change in Net Assets
$1,221,362

Noncash Contributions

Contribution TypeReported AmountValuation Method
Securities Publicly Traded$390,870Fair Market Value (FMV)
Total Noncash Contributions$390,870-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,900,541
Revenue Not Reported on Financial Statements
$19,431
Revenue Not Reported on Form 990
$178,816
Other Revenue Adjustments
$19,431
Total Revenue per Audited Statements
$4,079,357
Total Revenue per Form 990
$3,919,972
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,855,261
Other Expenses$843,349
Total Fundraising Expense$215,921
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,209,309$49,185$118,441$1,376,935
Current Officers, Directors, Trustees, and Key Employees$286,381$11,647$28,049$326,077
Occupancy$143,104$12,144-$155,248
Other Expenses$96,455$9,866$37,781$144,102
Payroll Taxes$116,830$4,752$11,442$133,024
Advertising$125,572--$125,572
Fees for Services Other$23,261$28,044-$51,305
Office Expenses-$35,476-$35,476
Information Technology$26,279-$7,849$34,128
Travel$21,664$6,812-$28,476
Fees for Services Accounting-$28,203-$28,203
Fees for Services Legal-$26,281-$26,281
Insurance$15,572$9,956-$25,528
Fees for Service Investment Mgmnt Fees-$19,431-$19,431
Other Employee Benefits$16,884$687$1,654$19,225
Depreciation Depletion$5,710-$1,610$7,320
Royalties$4,419--$4,419
Total Functional Expenses$2,240,205$242,484$215,921$2,698,610

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,721,911
Total Expenses per Form 990$2,698,610
Expenses per Audited Statements$2,679,179
Expenses Not Reported on Form 990$42,732
Expenses Not Reported on Financial Statements$19,431
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
Shelley Row
Title
Chair
Phone
4102691132
Signed
2025-01-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shelley Row
Formed
1967
Legal Domicile
Md
Voting Board Members
24
Independent Board Members
24
Employees
234
Volunteers
80

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 recordings will be available at no cost to students and faculty associated with many educational institutions around the world who have educational agreements with nml. Various periods of music history were incorporated in our season, featuring distinguished guest soloists from the international roster of musical artists. The holiday pops concert was sold out. Three chamber concerts were performed at locations throughout anne arundel county and neighboring counties. We performed two labor day outdoor symphonic concerts, free to the community, in quiet waters and downs. Two annapolis symphony academy concerts and a family concert at maryland hall were performed in the year. The aso serves as pit orchestra for the annapolis opera at maryland hall and the us naval academy. It is important to note that artistically, maestro novo took the orchestra to new levels of performance featuring ever more challenging compositions and diverse pieces that appeal to broader audiences. In this season, this was on full display during our first international tour to spain. Accompanied by world renowned artist, pepe romero, the aso delighted audiences and earned multiple encores with each performance. Our aso musicians grew in their artistry. Ultimately what you hear today from the stage was shaped by the tour. The asos brilliant performances of pieces like mahlers 6th symphony reflect the dynamism and newness of purpose brought about by the shared experiences of maestro and our musicians in spain.

Form 990, Part III, Line 4B

Continued from page 2 the academy creates a model for diversity that emphasizes interaction and mutual respect it offers students throughout the school year. Private lessons, with an option for summer lessons, weekly ensemble rehearsals, concerts, recitals, and performance opportunities in the community characterize a typical academy year. Winds and brass instruction are slated to begin in season 62, in addition to our long standing strings. We are the only regional youth orchestra where our maestro conducts weekly our academy sessions. Our early music education program called discovery which is offered in a title 1 school as part of the after-school enrichment activities continues and two more locations are slated to open in the next season. 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 pre-concert lectures held before every masterworks. The aso performs in our local community extensively in the year. Our small ensemble performances provide a community service to retirement homes, assisted living centers, mental health facilities, addiction facilities, community centers, hospital events, and we performed a total of 24 times in the year. Many more hours are spent performing in the community than spent in a concert hall. 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/Desc0THE CORE PROGRAMMING OF THE ASO DURING ITS 61ST SEASON CENTERED AROUND THE MASTERWORKS SERIES SIX PROGRAMS FEATURING SYMPHONIC REPERTOIRE WITH 12 PERFORMANCES IN MARYLAND HALL, ANNAPOLIS, AND 3 RUN OUTS AT STRATHMORE IN BETHESDA. PROGRAMMING CHOICES CENTERED AROUND THE ASOS COMMITMENT TO PROMOTING AMERICAN MUSIC AND SYMPHONIC MUSIC FROM UNDERREPRESENTED COMPOSERS AND THOSE INCLUDED KOREAN, PACIFIC-ISLANDER, AFRICAN-AMERICAN, JEWISH-UKRAINIAN, AND CANADIAN COMPOSERS IN THIS SEASON. THIS IS ACCOMPLISHED DUE TO OUR COLLABORATION WITH THE GABRIELA LENA FRANK ACADEMY TO CO-COMMISSION SYMPHONIC WORKS WITH EMERGING COMPOSERS. SECOND, WE LAUNCHED THE FIRST OF A THREE ALBUM PROJECT WITH LONDON-BASED TOCCATA MUSIC GROUP WITH WORLDWIDE DISTRIBUTION THROUGH NAXOS MUSIC LIBRARY NML. CONTINUED ON SCHEDULE O.
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IRS990/Form990PartVIISectionAGrp/PersonNm3KATHERINE EDWARDS
IRS990/Form990PartVIISectionAGrp/PersonNm4STEPHEN SOTACK
IRS990/Form990PartVIISectionAGrp/PersonNm5ANN WHITCOMB
IRS990/Form990PartVIISectionAGrp/PersonNm6MONIQUE LANGSTON
IRS990/Form990PartVIISectionAGrp/PersonNm7ELIZABETH MAXWELL-SCHMIDT
IRS990/Form990PartVIISectionAGrp/PersonNm8ROBERT ARIAS
IRS990/Form990PartVIISectionAGrp/PersonNm9GEORGIANNA CROSBY
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IRS990/Form990PartVIISectionAGrp/PersonNm14COLLOT GUERARD
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IRS990/Form990PartVIISectionAGrp/PersonNm16DEB HOWE
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IRS990/Form990PartVIISectionAGrp/PersonNm24MARY MCKIEL PHD
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IRS990/Form990PartVIISectionAGrp/TitleTxt0ARTISITIC DIRECTOR AND CONDUCTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE PRESIDENT-FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt6SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7ASST SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt25CHIEF EXECUTIVE OFFICER AS OF 4/1/2024
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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/ProgSrvcAccomActy2Grp/Desc0KEY 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. IN THIS SEASON 84 STUDENTS WERE ENROLLED. HALF OF THE ACADEMY STUDENTS ARE FROM UNDER-SERVED COMMUNITIES. CONTINUED ON SCHEDULE O

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