Civic Intelligence

Greater Akron Musical Association

EIN 34-1635435 • 501(c)3 • Akron, OH

Profile

To operate the endowment fund and other special funds for the benefit of the greater akron musical association and to promote public appreciation of the arts.

92 N Main StreetAkron, OH 44308

www.akronsymphony.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Liabilities / Revenue

10th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Net Margin

83rd percentile

36%

Higher net margin than 83% of similar nonprofits.

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

Top Officer Pay

30th percentile

$73,542

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 11.1% of source-year revenue.

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

Asset Growth

72nd percentile

13%

Faster asset growth than 72% of similar nonprofits.

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

Revenue Growth

15th percentile

-18%

Faster revenue growth than 15% of similar nonprofits.

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

Assets

Up

$8,593,260

Up $964,773 (+13%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$8,593,260

Up $964,773 (+13%) from 2023

Revenue

Down

$662,907

Down $149,951 (-18%) from 2023

Expenses

Up

$424,496

Up $17,151 (+4.2%) from 2023

Net Income

Down

$238,411

Down $167,102 (-41%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2013: $5,664,087Liabilities 2013: $0Net Assets 2013: $5,664,0872013Assets 2014: $6,266,289Liabilities 2014: $0Net Assets 2014: $6,266,2892014Assets 2015: $6,156,737Liabilities 2015: $0Net Assets 2015: $6,156,7372015Assets 2016: $5,852,890Liabilities 2016: $0Net Assets 2016: $5,852,8902016Assets 2017: $6,229,075Liabilities 2017: $0Net Assets 2017: $6,229,0752017Assets 2018: $6,422,992Liabilities 2018: $0Net Assets 2018: $6,422,9922018Assets 2019: $6,618,704Liabilities 2019: $0Net Assets 2019: $6,618,7042019Assets 2020: $6,683,764Liabilities 2020: $0Net Assets 2020: $6,683,7642020Assets 2021: $8,357,745Liabilities 2021: $0Net Assets 2021: $8,357,7452021Assets 2022: $7,075,051Liabilities 2022: $0Net Assets 2022: $7,075,0512022Assets 2023: $7,628,487Liabilities 2023: $0Net Assets 2023: $7,628,4872023Assets 2024: $8,593,260Liabilities 2024: $0Net Assets 2024: $8,593,2602024

Highlighted filing

2024

Assets$8,593,260
Liabilities$0
Net Assets$8,593,260

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2013: $274,8272013Revenue 2014: $480,301Expenses 2014: $296,248Net Income 2014: $184,0532014Revenue 2015: $616,945Expenses 2015: $317,334Net Income 2015: $299,6112015Revenue 2016: $83,387Expenses 2016: $336,019Net Income 2016: -$252,6322016Revenue 2017: $164,248Expenses 2017: $337,349Net Income 2017: -$173,1012017Revenue 2018: $325,042Expenses 2018: $341,528Net Income 2018: -$16,4862018Revenue 2019: $865,444Expenses 2019: $359,678Net Income 2019: $505,7662019Revenue 2020: $493,116Expenses 2020: $440,062Net Income 2020: $53,0542020Revenue 2021: $373,136Expenses 2021: $293,442Net Income 2021: $79,6942021Revenue 2022: $330,670Expenses 2022: $392,892Net Income 2022: -$62,2222022Revenue 2023: $812,858Expenses 2023: $407,345Net Income 2023: $405,5132023Revenue 2024: $662,907Expenses 2024: $424,496Net Income 2024: $238,4112024

Highlighted filing

2024

Revenue$662,907
Expenses$424,496
Net Income$238,411

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Mar 20, 2025
Return Version
2023v6.0
Gross Receipts
$1,625,985
Mission and Program Overview

Mission

To operate the endowment fund and other special funds for the benefit of the greater akron musical association and to promote public appreciation of the arts.

To operate the endowment fund and other special funds for the benefit of the GAMA.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,628,487$8,593,260▲ $964,773
Total Assets$7,628,487$8,593,260▲ $964,773
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$7,628,487$8,593,260▲ $964,773
Total Net Assets Fund Balance$7,628,487$8,593,260▲ $964,773
Total Liabilities and Net Assets / Fund Balance$7,628,487$8,593,260▲ $964,773

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$7,628,487$7,000▲ $1,382,269-$8,593,260
2022$7,075,051$5,000▲ $955,781-$7,628,487
2021$8,357,745$4,952▼ $894,754-$7,075,051
2020$6,683,764$205,000▲ $1,762,423-$8,357,745
2019$6,618,704$5,000▲ $500,122-$6,683,764
Compensation and Service Providers

Employees

NameTitleOtherTotal
Paul JarrettGAMA Executive Director$73,542$73,542

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$7,000
Program Service Revenue
$0
Investment Income
$655,907
Other Revenue
$0
All Other Contributions
$7,000
Change in Net Assets
$238,411
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$370,500
Other Expenses$53,996
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$370,500--$370,500
Fees for Service Investment Mgmnt Fees-$53,996-$53,996
Total Functional Expenses$370,500$53,996$0$424,496
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Greater Akron Musical AssociationAkron, OH501(c)(3)Operating Activities$370,500
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

The 990 is reviewed by the organization's executive committee prior to filing

Form 990, Part VI, Section B, line 12C

Each director, principal officer and memeber of a committee with governing board delegated powers must annually sign the conflict of interest statement, the signed statement affirms that they have received a copy of the policy, read and understood the policy and have agreed to comply.

Form 990, Part VI, Section C, line 19

The organization makes available for public inspection, upon request, all current documents as required by federal, state and local law, including, but not limited to, the current irs form 990, current annual report, current audited financial statements and current minutes of the executive board.

Filing and Contact Details

Filer

Filer Name
Greater Akron Musical Association Founda
EIN
34-1635435
Phone
3305358131
Address
92 N Main Street, Akron, OH 44308

Signing Officer

Name
Thomas Clark
Title
President
Phone
2164015310
Signed
2025-03-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Clark
Formed
1986
Legal Domicile
Oh
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Firm
415 Group Inc
Address
4300 Munson Street NW, Canton, OH 44718
Preparer
Natalie Simmons CPA
Phone
3304920094
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The organization has not changed its oversight process in the current year.

Financial Statement Notes

Part V, Line 4:

The endowment funds are intended to support the greater akron musical association's operating activities.

Part X, Line 2:

The association and the foundation are exempt from income taxes under the current provisions of the internal revenue code section 501(c)(3). Therefore, no provisions for federal and state income taxes have been recorded in the statements. The organization and the association are not classified as private foundations. The organization follows guidance issued by the financial accounting standards board (fasb) on accounting for income taxes and has evaluated its tax provisions, expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings, and believes that no provision for income taxes is necessary to cover any uncertain tax provisions. The organizations' returns for the tax years ending 2020 and later remain subject to examination by taxing authorities.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0331000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-894754
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt053442
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt06683764
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0205000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt08357745
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0240000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01762423
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt039562
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt06618704
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt05000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt06683764
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0400500
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0500122
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.59580
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ENDOWMENT FUNDS ARE INTENDED TO SUPPORT THE GREATER AKRON MUSICAL ASSOCIATION'S OPERATING ACTIVITIES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ASSOCIATION AND THE FOUNDATION ARE EXEMPT FROM INCOME TAXES UNDER THE CURRENT PROVISIONS OF THE INTERNAL REVENUE CODE SECTION 501(C)(3). THEREFORE, NO PROVISIONS FOR FEDERAL AND STATE INCOME TAXES HAVE BEEN RECORDED IN THE STATEMENTS. THE ORGANIZATION AND THE ASSOCIATION ARE NOT CLASSIFIED AS PRIVATE FOUNDATIONS. THE ORGANIZATION FOLLOWS GUIDANCE ISSUED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ON ACCOUNTING FOR INCOME TAXES AND HAS EVALUATED ITS TAX PROVISIONS, EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS, AND BELIEVES THAT NO PROVISION FOR INCOME TAXES IS NECESSARY TO COVER ANY UNCERTAIN TAX PROVISIONS. THE ORGANIZATIONS' RETURNS FOR THE TAX YEARS ENDING 2020 AND LATER REMAIN SUBJECT TO EXAMINATION BY TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.40420
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0370500
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Operating Activities
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Greater Akron Musical Association
IRS990ScheduleI/RecipientTable/RecipientEIN0346003828
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt092 North Main Street
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Akron
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0OH
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd044308
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION BOARD REGULARLY CONSULTS WITH ITS SUPPORTED ORGANIZATION TO ENSURE THAT GRANT MONIES ARE USED FOR THE STATED PURPOSES OF THE GRANT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS REVIEWED BY THE ORGANIZATION'S EXECUTIVE COMMITTEE PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH DIRECTOR, PRINCIPAL OFFICER AND MEMEBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS MUST ANNUALLY SIGN THE CONFLICT OF INTEREST STATEMENT, THE SIGNED STATEMENT AFFIRMS THAT THEY HAVE RECEIVED A COPY OF THE POLICY, READ AND UNDERSTOOD THE POLICY AND HAVE AGREED TO COMPLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES AVAILABLE FOR PUBLIC INSPECTION, UPON REQUEST, ALL CURRENT DOCUMENTS AS REQUIRED BY FEDERAL, STATE AND LOCAL LAW, INCLUDING, BUT NOT LIMITED TO, THE CURRENT IRS FORM 990, CURRENT ANNUAL REPORT, CURRENT AUDITED FINANCIAL STATEMENTS AND CURRENT MINUTES OF THE EXECUTIVE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS IN THE CURRENT YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XII, Line 2c
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Greater Akron Musical Association
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0346003828
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Musical Arts
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt092 North Main Street
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Akron
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd044308
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0370500
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Greater Akron Musical Association
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt07628487
IRS990/TotalAssetsEOYAmt08593260
IRS990/TotalAssetsGrp/BOYAmt07628487
IRS990/TotalAssetsGrp/EOYAmt08593260
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt07000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt053996
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0370500
IRS990/TotalFunctionalExpensesGrp/TotalAmt0424496
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07628487
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08593260
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0370500
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0655907
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0662907
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07628487
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08593260
IRS990/TotReportableCompRltdOrgAmt073542
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt092 N Main Street
IRS990/USAddress/CityNm0Akron
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044308
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010

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