Civic Intelligence

Salisbury Rowan Symphony Society Inc

990 • Fiscal year 2022 • EIN 23-7366640

Jul 01, 2021 to Jun 30, 2022 • Filed on Dec 09, 2022

204 E Innes St Ste 260Salisbury, NC 28144

(704) 216-1513

Siviq Scores

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

Liabilities / Assets

50th percentile

0.03x

Higher debt load relative to assets than 50% of similar nonprofits.

2022 filings • NTEE A • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

69th percentile

0.13x

Higher debt load relative to revenue than 69% of similar nonprofits.

2022 filings • NTEE A • $500k-$1M nonprofits • Source year 2022

Net Margin

7th percentile

-79%

Higher net margin than 7% of similar nonprofits.

2022 filings • NTEE A • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

59th percentile

$40,000

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 19.5% of source-year revenue.

2022 filings • NTEE A • $500k-$1M nonprofits • Source year 2022

Asset Growth

16th percentile

-14%

Faster asset growth than 16% of similar nonprofits.

2022 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

9th percentile

-43%

Faster revenue growth than 9% of similar nonprofits.

2022 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Down

$928,976

Down $157,017 (-14%) from 2021

Net Assets

Down

$902,683

Down $161,455 (-15%) from 2021

Liabilities

Up

$26,293

Up $4,438 (+20%) from 2021

Revenue

Down

$205,553

Down $156,734 (-43%) from 2021

Expenses

Up

$367,007

Up $173,034 (+89%) from 2021

Net Income

Down

-$161,454

Down $329,768 (-196%) from 2021

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2015: $660,682Liabilities 2015: $84,649Net Assets 2015: $576,0332015Assets 2017: $968,705Liabilities 2017: $71,700Net Assets 2017: $897,0052017Assets 2020: $1,079,652Liabilities 2020: $183,828Net Assets 2020: $895,8242020Assets 2021: $1,085,993Liabilities 2021: $21,855Net Assets 2021: $1,064,1382021Assets 2022: $928,976Liabilities 2022: $26,293Net Assets 2022: $902,6832022Assets 2023: $773,021Liabilities 2023: -$2,958Net Assets 2023: $775,9792023Assets 2024: $714,600Liabilities 2024: $107,480Net Assets 2024: $607,1202024Assets 2025: $558,124Liabilities 2025: $44,234Net Assets 2025: $513,8902025

Highlighted filing

2022

Assets$928,976
Liabilities$26,293
Net Assets$902,683

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2015: $390,809Expenses 2015: $379,409Net Income 2015: $11,4002015Revenue 2017: $822,301Expenses 2017: $509,154Net Income 2017: $313,1472017Revenue 2020: $319,074Expenses 2020: $335,399Net Income 2020: -$16,3252020Revenue 2021: $362,287Expenses 2021: $193,973Net Income 2021: $168,3142021Revenue 2022: $205,553Expenses 2022: $367,007Net Income 2022: -$161,4542022Revenue 2023: $376,081Expenses 2023: $502,786Net Income 2023: -$126,7052023Revenue 2024: $770,518Expenses 2024: $935,935Net Income 2024: -$165,4172024Revenue 2025: $578,642Expenses 2025: $671,872Net Income 2025: -$93,2302025

Highlighted filing

2022

Revenue$205,553
Expenses$367,007
Net Income-$161,454
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Dec 9, 2022
Return Version
2021v4.0
Gross Receipts
$255,101
Mission and Program Overview

Mission

To educate, entertain, inspire, engage and enrich our community through orchestral music and other musical performances of the highest quality

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,031,216$867,836▼ $163,380
Cash and Non-Interest-Bearing Accounts$50,035$58,218▲ $8,183
Prepaid Expenses and Deferred Charges$3,893$2,354▼ $1,539
Accounts Receivable$849$568▼ $281
Total Assets$1,085,993$928,976▼ $157,017
Liabilities
Deferred Revenue$19,879$20,236▲ $357
Accounts Payable and Accrued Expenses$1,976$6,057▲ $4,081
Total Liabilities$21,855$26,293▲ $4,438
Net Assets / Fund Balance
Net Assets With Donor Restrictions$883,310$1,031,216▲ $147,906
Net Assets Without Donor Restrictions$180,828$-128,533▼ $309,361
Total Net Assets Fund Balance$1,064,138$902,683▼ $161,455
Total Liabilities and Net Assets / Fund Balance$1,085,993$928,976▼ $157,017
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Hunter SafritExecutive DiFT$40,000$40,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$167,670
Program Service Revenue
$120,036
Investment Income
$-79,313
Other Revenue
$-2,840
All Other Contributions
$126,079
Change in Net Assets
$-161,454
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$286,517
Salaries, Compensation, and Employee Benefits$80,490
Total Fundraising Expense$13,501
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$171,284--$171,284
Current Officers, Directors, Trustees, and Key Employees$20,000$10,000$10,000$40,000
Other Salaries and Wages$25,200--$25,200
Advertising$13,982--$13,982
Other Employee Benefits$6,494$1,243$1,243$8,980
Fees for Service Investment Mgmnt Fees-$7,426-$7,426
Occupancy$4,673$895$897$6,465
Payroll Taxes$4,562$874$874$6,310
Fees for Services Accounting-$6,000-$6,000
Office Expenses$2,493$1,459$478$4,430
Other Expenses$26,907$1,839-$1,839
Insurance-$1,582-$1,582
All Other Expenses$851$9$9$869
Conferences and Meetings-$503-$503
Total Functional Expenses$319,714$33,792$13,501$367,007
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$49,548
Fundraising Gross Income$46,708
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Big Band Bash$23,131$23,131$15,714$7,417
Bury Home$13,527$13,527$11,426$2,101
Total Events$36,658$36,658$27,140$9,518
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
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
Yes
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

Form 990 is prepared and signed by the treasurer and submitted to the internal revenue service. A copy of form 990 is provided to management and made available upon request.

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

Any director which my be affected by a conflict of interest issue does not vote on the issue at hand.

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

Key employee evaluation is performed by personnel committee and compensation determined by finance committee after consultation with personnel committee and approval by board of directors.

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

Key employee evaluation is performed by personnel committee and compensation determined by finance committe after consultation with personnel committee and approval by board of directors.

Form 990, Page 6, Part VI, Line 19

Governing documents and form 990 are provided to management and made available upon written request.

Filing and Contact Details

Filer

Filer Name
Salisbury Symphony Inc
EIN
23-7366640
Phone
7042161513
Address
204 E INNES ST STE 260, SALISBURY, NC 28144

Signing Officer

Name
Hunter Safrit
Title
Executive Director
Phone
7042161513
Signed
2022-12-09

Organization Details

Principal Officer
Hunter Safrit
Formed
1972
Legal Domicile
Nc
Voting Board Members
18
Independent Board Members
18
Employees
2
Volunteers
300

Preparer

Firm
Brent H Parks CPA Pa
Address
1816 E INNES ST STE 101, SALISBURY, NC 28146-6027
Preparer
Brent H Parks
Phone
7046338700
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

MUSICIANS 171,284 0 0

Form 990, Part XI, Line 9

ROUNDING -1

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IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18EXECUTIVE DI
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormationYr01972
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0true
IRS990/FundraisingDirectExpensesAmt049548
IRS990/FundraisingGrossIncomeAmt046708
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt018
IRS990/GovernmentGrantsAmt041591
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0255101
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt018
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt01582
IRS990/InsuranceGrp/TotalAmt01582
IRS990/InvestmentIncomeGrp/ExclusionAmt0-79313
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0-79313
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt055
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0NC
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO EDUCATE, ENTERTAIN, INSPIRE, ENGAGE AND ENRICH OUR COMMUNITY THROUGH ORCHESTRAL MUSIC AND OTHER MUSICAL PERFORMANCES OF THE HIGHEST QUALITY
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt01064138
IRS990/NetAssetsOrFundBalancesEOYAmt0902683
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0-2840
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-2840
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0180828
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-128533
IRS990/NondeductibleContributionsInd0true
IRS990/NondeductibleContriDisclInd0true
IRS990/OccupancyGrp/FundraisingAmt0897
IRS990/OccupancyGrp/ManagementAndGeneralAmt0895
IRS990/OccupancyGrp/ProgramServicesAmt04673
IRS990/OccupancyGrp/TotalAmt06465
IRS990/OfficeExpensesGrp/FundraisingAmt0478
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01459
IRS990/OfficeExpensesGrp/ProgramServicesAmt02493
IRS990/OfficeExpensesGrp/TotalAmt04430
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt0-1
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01243
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01243
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt06494
IRS990/OtherEmployeeBenefitsGrp/TotalAmt08980
IRS990/OtherExpensesGrp/Desc0EDUCATION EXPENSES
IRS990/OtherExpensesGrp/Desc1PRODUCTION EXPENSES
IRS990/OtherExpensesGrp/Desc2DUES AND LICENSES
IRS990/OtherExpensesGrp/Desc3BANKCARD FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01962
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11839
IRS990/OtherExpensesGrp/ProgramServicesAmt043268
IRS990/OtherExpensesGrp/ProgramServicesAmt126907
IRS990/OtherExpensesGrp/TotalAmt043268
IRS990/OtherExpensesGrp/TotalAmt126907
IRS990/OtherExpensesGrp/TotalAmt21962
IRS990/OtherExpensesGrp/TotalAmt31839
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt025200
IRS990/OtherSalariesAndWagesGrp/TotalAmt025200
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt0874
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0874
IRS990/PayrollTaxesGrp/ProgramServicesAmt04562
IRS990/PayrollTaxesGrp/TotalAmt06310
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03893
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02354
IRS990/PrincipalOfficerNm0HUNTER SAFRIT
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0711190
IRS990/ProgramServiceRevenueGrp/BusinessCd1711190
IRS990/ProgramServiceRevenueGrp/BusinessCd2711190
IRS990/ProgramServiceRevenueGrp/Desc0TICKET SALES & MERCHANDISE
IRS990/ProgramServiceRevenueGrp/Desc1PROGRAM ADS
IRS990/ProgramServiceRevenueGrp/Desc2EDUCATION PROGRAMS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0105470
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt18165
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt26401
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0105470
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt18165
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt26401
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0184074
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0150101
IRS990/PYOtherExpensesAmt0116642
IRS990/PYOtherRevenueAmt017411
IRS990/PYProgramServiceRevenueAmt010701
IRS990/PYRevenuesLessExpensesAmt0168314
IRS990/PYSalariesCompEmpBnftPaidAmt077331
IRS990/PYTotalExpensesAmt0193973
IRS990/PYTotalRevenueAmt0362287
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-161454
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0120036
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01031216
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0867836
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt01,098
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0167670
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0184074
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0171343
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0204260
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0130377
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0857724
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0-79313
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0150101
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt026117
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt052073
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt058541
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0207519
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0120036
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt010701
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt097317
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0199678
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0302934
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0730666
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0-79313
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0150101
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt026117
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt052073
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt058541
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0207519
IRS990ScheduleA/InvestmentIncomeCYPct00.12000

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