Saginaw Symphony Association

“Association members are individuals, businesses, or corporations who make a payment to the Saginaw Symphony Association for the purchase of season tickets or contributions available for current expenditure in any fiscal year.”

“Committees do not have the authority to act on behalf of the board of directors. All committees report to the CEO and must formally request the board's approval to proceed with fundraising, event planning, or spending funds.”

“Form 990 was prepared and reconciled by the Financial Manager and reviewed by the CEO and the Financial Manager.”

“a) The CEO's salary is reviewed annually by the Executive Committee and approved by the board of directors. That review process is currently in progress.”

“Governing documents, conflict of interest policy, and financial statements are made available to the public upon verbal or written request to the CEO. Financial statements and Form 990 are posted on our website.”

“Due to the COVID-19 pandemic, no pre-season ticket sales were sold for fiscal year 2021 because the Temple Theatre that sells the Association's concert tickets remained closed. The Music Director had to reprogram all five of his originally developed live concerts to much smaller virtual concerts with fewer musicians to allow for social distancing on stage. The March 20, 2021 concert was canceled and reprogrammed into the May 1, 2021 hybrid concert. The Association's fiscal year 2021 support and revenue without donor restrictions decreased $56,758 (14.1%) while expenses decreased $97,858 (22.6%) compared to the prior fiscal year. The final revised budget decreased 23.2%, from $437,000 to $335,500. Despite all the uncertainties during this season and the many concert programming changes, the Association's fiscal year ended with a net income from operations of $12,002. Since the Association was not able to sell season and single tickets this season, a loss of approximately $115,000 in ticket revenue greatly impacted total revenue without donor restrictions. This loss of revenue was offset by reduced expenses for musicians ($87,250) and Temple Theatre venue rental ($27,850) due to having virtual concerts with fewer musicians instead of live concerts. A legacy gift in the amount of $50,000, Paycheck Protection Program funds totaling $28,993, donations of $11,112 from our online 85th Anniversary Campaign, and a Michigan Small Business Restart Grant in the amount of $7,500, significantly helped the Association end the fiscal year with a change in net assets of $12,002.”

“Other Fees for Services: Program Service Expenses - Music Director $49,750, Orchestra Services $34,873; Guest Artists $4,680; Concert Ticket Fees $491; and Other Concert Expenses $5,635. Total Program Service Expenses - $95,429. Management & General Expenses - Outside Services $1,460. Total Other Fees for Services - $96,889.”