Civic Intelligence

South Bend Symphony Orchestra Association Inc.

990 • Fiscal year 2024 • EIN 35-6042189

Jul 01, 2023 to Jun 30, 2024 • Filed on Jan 31, 2025

127 N Michigan StSouth Bend, IN 46601-1603

(574) 232-6343

Siviq Scores

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

Liabilities / Assets

25th percentile

0.03x

Higher debt load relative to assets than 25% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

38th percentile

0.14x

Higher debt load relative to revenue than 38% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

64th percentile

11%

Higher net margin than 64% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

29th percentile

$126,907

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

62nd percentile

9.0%

Faster asset growth than 62% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

79th percentile

34%

Faster revenue growth than 79% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$12,550,940

Up $1,032,227 (+9.0%) from 2023

Net Assets

Up

$12,155,643

Up $1,037,737 (+9.3%) from 2023

Liabilities

Down

$395,297

Down $5,510 (-1.4%) from 2023

Revenue

Up

$2,850,284

Up $716,746 (+34%) from 2023

Expenses

Up

$2,526,286

Up $180,663 (+7.7%) from 2023

Net Income

Up

$323,998

Up $536,083 (+253%) from 2023

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2012: $5,292,209Liabilities 2012: $241,820Net Assets 2012: $5,050,3892012Assets 2013: $5,494,993Liabilities 2013: $198,951Net Assets 2013: $5,296,0422013Assets 2014: $6,267,454Liabilities 2014: $320,813Net Assets 2014: $5,946,6412014Assets 2015: $6,111,507Liabilities 2015: $335,286Net Assets 2015: $5,776,2212015Assets 2016: $7,818,861Liabilities 2016: $261,258Net Assets 2016: $7,557,6032016Assets 2017: $8,546,139Liabilities 2017: $244,208Net Assets 2017: $8,301,9312017Assets 2018: $9,484,437Liabilities 2018: $199,818Net Assets 2018: $9,284,6192018Assets 2019: $9,664,243Liabilities 2019: $200,407Net Assets 2019: $9,463,8362019Assets 2020: $10,036,668Liabilities 2020: $409,665Net Assets 2020: $9,627,0032020Assets 2021: $12,758,390Liabilities 2021: $424,155Net Assets 2021: $12,334,2352021Assets 2022: $11,276,810Liabilities 2022: $411,740Net Assets 2022: $10,865,0702022Assets 2023: $11,518,713Liabilities 2023: $400,807Net Assets 2023: $11,117,9062023Assets 2024: $12,550,940Liabilities 2024: $395,297Net Assets 2024: $12,155,6432024Assets 2025: $13,020,438Liabilities 2025: $299,407Net Assets 2025: $12,721,0312025

Highlighted filing

2024

Assets$12,550,940
Liabilities$395,297
Net Assets$12,155,643

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $1,428,6512012Expenses 2013: $1,528,2822013Revenue 2014: $1,602,629Expenses 2014: $1,433,574Net Income 2014: $169,0552014Revenue 2015: $1,545,767Expenses 2015: $1,453,891Net Income 2015: $91,8762015Revenue 2016: $1,607,971Expenses 2016: $1,489,007Net Income 2016: $118,9642016Revenue 2017: $1,717,742Expenses 2017: $1,503,822Net Income 2017: $213,9202017Revenue 2018: $2,313,137Expenses 2018: $1,593,852Net Income 2018: $719,2852018Revenue 2019: $1,848,596Expenses 2019: $1,645,186Net Income 2019: $203,4102019Revenue 2020: $1,764,045Expenses 2020: $1,670,961Net Income 2020: $93,0842020Revenue 2021: $1,644,862Expenses 2021: $1,397,724Net Income 2021: $247,1382021Revenue 2022: $2,188,431Expenses 2022: $1,813,959Net Income 2022: $374,4722022Revenue 2023: $2,133,538Expenses 2023: $2,345,623Net Income 2023: -$212,0852023Revenue 2024: $2,850,284Expenses 2024: $2,526,286Net Income 2024: $323,9982024Revenue 2025: $2,555,198Expenses 2025: $2,612,398Net Income 2025: -$57,2002025

Highlighted filing

2024

Revenue$2,850,284
Expenses$2,526,286
Net Income$323,998
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 31, 2025
Return Version
2023v6.0
Gross Receipts
$3,960,999
Mission and Program Overview

Mission

We inspire, entertain, and connect people with the transformative power of orchestral music. As michiana's premiere professional orchestra, the south bend symphony engages the community in the exploration of orchestral music in all its forms.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,801,817$1,728,979▼ $72,838
Cash and Non-Interest-Bearing Accounts$371,791$743,835▲ $372,044
Pledges and Grants Receivable$84,550$456,981▲ $372,431
Savings and Temporary Cash Investments$694,377$417,248▼ $277,129
Accounts Receivable$10,014$74,829▲ $64,815
Land, Buildings, and Equipment, Net$42,541$40,000▼ $2,541
Prepaid Expenses and Deferred Charges$13,118$36,527▲ $23,409
Total Assets$11,518,713$12,550,940▲ $1,032,227
Other Assets Total$8,500,505$9,052,541▲ $552,036
Liabilities
Deferred Revenue$170,954$187,591▲ $16,637
Accounts Payable and Accrued Expenses$139,101$147,991▲ $8,890
Other Liabilities$90,752$59,715▼ $31,037
Total Liabilities$400,807$395,297▼ $5,510
Net Assets / Fund Balance
Net Assets With Donor Restrictions$9,212,463$10,058,665▲ $846,202
Net Assets Without Donor Restrictions$1,905,443$2,096,978▲ $191,535
Total Net Assets Fund Balance$11,117,906$12,155,643▲ $1,037,737
Total Liabilities and Net Assets / Fund Balance$11,518,713$12,550,940▲ $1,032,227

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$39,303$162,623$201,926
Other Land Buildings$697$23,241$23,938
Other Assets Org$59,715--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$9,663,108$149,000▲ $1,076,996$319,813$10,569,291
2022$9,314,971-▲ $657,222$309,085$9,663,108
2021$10,973,904$32,850▼ $1,391,928$299,855$9,314,971
2020$8,705,741$31,500▲ $2,511,877$275,214$10,973,904
2019$8,513,215$114,946▲ $390,010$312,430$8,705,741
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Alastair WillisMusic DirectFT$111,538$15,369$126,907
Justus ZimmermanExecutive DiFT$108,520$6,467$114,987
Rachel GoffDirector-$10,257-$10,257
Helene DauertyDirector-$6,401-$6,401

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,625,525
Program Service Revenue
$707,397
Investment Income
$536,247
Other Revenue
$-18,885
All Other Contributions
$1,347,046
Change in Net Assets
$323,998

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,841,699
Revenue Not Reported on Financial Statements
$8,585
Revenue Not Reported on Form 990
$713,739
Total Revenue per Audited Statements
$3,555,438
Total Revenue per Form 990
$2,850,284
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,527,496
Other Expenses$998,790
Total Fundraising Expense$242,212
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$888,217$243,908$116,955$1,249,080
Travel$171,206$731$8,655$180,592
All Other Expenses$45,748$82,946$42,831$171,525
Current Officers, Directors, Trustees, and Key Employees$54,003$49,794$37,345$141,142
Payroll Taxes$71,241$22,230$11,634$105,105
Occupancy$55,689$17,914$9,376$82,979
Advertising-$64,751-$64,751
Other Expenses$50,177--$50,177
Fees for Services Accounting-$41,741-$41,741
Office Expenses$8,568$16,890$7,103$32,561
Other Employee Benefits$11,505$13,950$6,714$32,169
Insurance$9,766$3,039$1,599$14,404
Fees for Service Investment Mgmnt Fees-$8,585-$8,585
Depreciation Depletion$7,466--$7,466
Fees for Services Legal-$7,162-$7,162
Total Functional Expenses$1,710,433$573,641$242,212$2,526,286

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,578,286
Total Expenses per Form 990$2,526,286
Expenses per Audited Statements$2,517,701
Expenses Not Reported on Form 990$60,585
Expenses Not Reported on Financial Statements$8,585
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$60,585
Fundraising Gross Income$41,700
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gift of Music$288,832$41,700-$41,700
Total Events$288,832$41,700$60,585$-18,885
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$59,715
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
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

The entire return except for schedule b was provided to the entire board prior to the january 2025 board meeting. The return was discussed at that meeting and was approved for filing. The policy of redacting schedule b from board review was adopted because many board members are donors and because all donors have an expectation of confidentiality regarding their donations.

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

Annually all directors and officers must sign a conflict of interest statement. Directors and officers have a duty to disclose any actual or potential conflict of interest to the board, and the board determines if conflicts exist without the presence of the individual involved. The board makes the determination about whether the proposed transaction is the most advantageous to the organization based on discussion and vote without the interested party being present. Any director or officer found to have violated the policy is subject to appropriate disciplinary and corrective action.

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

The compensation of the top management official is recommended by the independent finance committee and approved by the independent executive committee, taking into account comparability data. This was last done in october 2022.

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

The compensation of other officers is recommended by the independent finance committee and approved by the independent executive committee, taking into account comparability data. This was last done in october 2022.

Form 990, Page 6, Part VI, Line 19

The organization provides its governing documents, its conflict of interest policy, and its financial statements to members of the public upon request.

Filing and Contact Details

Filer

Filer Name
South Bend Symphony Orchestra
EIN
35-6042189
Phone
5742326343
Address
127 N MICHIGAN ST, SOUTH BEND, IN 46601-1603
Doing Business As
South Bend Symphony Orchestra

Signing Officer

Name
Breighan M Boeskool Phd
Title
Secretary
Phone
5742326343
Signed
2025-01-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Justus Zimmerman
Formed
1950
Legal Domicile
In
Voting Board Members
23
Independent Board Members
21
Employees
240
Volunteers
38

Preparer

Firm
Dwc Cpas LLC
Address
3454 DOUGLAS RD, SOUTH BEND, IN 46635
Preparer
Bradley J Fetherolf CPA
Phone
5742339366
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

We inspire, entertain, and connect people with the transformative power of orchestral music. As michiana's premiere professional orchestra, the south bend symphony engages the community in the exploration of orchestral music in all its forms.

Form 990, Part XI, Line 9

583,073

Financial Statement Notes

Schedule D, Page 3, Part X

We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the position will be sustained on examination by taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Examples of tax positions include our tax-exempt status and positions related to the potential sources of unrelated business taxable income. We have not identified any uncertain tax positions taken or expected to be taken in a tax return, and there are no unrecognized tax benefits recorded as liabilities in the accompanying financial statements. We classify interest and penalties, if any, associated with uncertain tax positions as a component of income tax expense. There was no accrued interest or any penalties related to unrecognized tax benefits at either june 30, 2024 or 2023 or any interest or penalties expense related to unrecognized tax benefits for the years then ended. We are no longer subject to examination by the internal revenue service or the state of indiana for years prior to june 30, 2021.

Schedule D, Page 4, Part XI, Line 2D

Change in beneficial interests 583,073

Schedule D, Page 4, Part XII, Line 2D

EVENT EXPENSES 60,585

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IRS990/Form990PartVIISectionAGrp/TitleTxt0MUSIC DIRECT
IRS990/Form990PartVIISectionAGrp/TitleTxt1EXECUTIVE DI
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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt22SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt23TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt24VICE PRESIDE
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IRS990/MissionDesc0WE INSPIRE, ENTERTAIN, AND CONNECT PEOPLE WITH THE TRANSFORMATIVE POWER OF ORCHESTRAL MUSIC. AS MICHIANA'S PREMIERE PROFESSIONAL ORCHESTRA, THE SOUTH BEND SYMPHONY ENGAGES THE COMMUNITY IN THE EXPLORATION OF ORCHESTRAL MUSIC IN ALL ITS FORMS.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$13.0$0.30$12.7$2.56$2.61$0.06
2024Detailed filing. Detailed filing data is available for this year.$12.6$0.40$12.2$2.85$2.53$0.32
2023Detailed filing. Detailed filing data is available for this year.$11.5$0.40$11.1$2.13$2.35$0.21
2022Detailed filing. Detailed filing data is available for this year.$11.3$0.41$10.9$2.19$1.81$0.37
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.8$0.42$12.3$1.64$1.40$0.25
2020Detailed filing. Detailed filing data is available for this year.$10.0$0.41$9.63$1.76$1.67$0.09
2019Detailed filing. Detailed filing data is available for this year.$9.66$0.20$9.46$1.85$1.65$0.20
2018Detailed filing. Detailed filing data is available for this year.$9.48$0.20$9.28$2.31$1.59$0.72
2017Detailed filing. Detailed filing data is available for this year.$8.55$0.24$8.30$1.72$1.50$0.21
2016Detailed filing. Detailed filing data is available for this year.$7.82$0.26$7.56$1.61$1.49$0.12
2015Detailed filing. Detailed filing data is available for this year.$6.11$0.34$5.78$1.55$1.45$0.09
2014Detailed filing. Detailed filing data is available for this year.$6.27$0.32$5.95$1.60$1.43$0.17
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.49$0.20$5.30$1.53
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.29$0.24$5.05$1.43