Civic Intelligence

Winston-Salem Symphony Association

EIN 56-0692826 • 501(c)3 • Winstonsalem, NC

Profile

To bring music to life: believing that music has the power to inspire, the winston-salem symphony will fulfill this mission by enriching the community with live music. The symphony brings performances, educational programs, and community engagement initiatives to where people live and desires for audiences to experience music in a way that is relevant and meaningful to their own lives. Through music, the winston-salem symphony aspires to create shared experiences and connections that improve the quality of life in winston-salem and throughout the region.

301 N Main St Suite 1901Winstonsalem, NC 27101

www.wssymphony.org

Siviq Scores

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

Liabilities / Assets

50th percentile

0.13x

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

501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

64th percentile

0.29x

Higher debt load relative to revenue than 64% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

20th percentile

-10%

Higher net margin than 20% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

47th percentile

3.9%

Faster asset growth than 47% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

13th percentile

-21%

Faster revenue growth than 13% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$6,806,141

Up $387,302 (+6.0%) from 2023

Liabilities

Down

$721,811

Down $85,766 (-11%) from 2023

Net Assets

Up

$6,084,330

Up $473,068 (+8.4%) from 2023

Operations
Liabilities / Revenue64th percentileNet Margin20th percentile

Revenue

Up

$3,136,645

Up $381,604 (+14%) from 2023

Expenses

Up

$3,252,947

Up $215,799 (+7.1%) from 2023

Net Income

Up

-$116,302

Up $165,805 (+59%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth47th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2012: $1,893,863Liabilities 2012: $364,568Net Assets 2012: $1,529,2952012Assets 2013: $3,494,209Liabilities 2013: $367,246Net Assets 2013: $3,126,9632013Assets 2014: $4,254,547Liabilities 2014: $556,226Net Assets 2014: $3,698,3212014Assets 2015: $4,279,827Liabilities 2015: $479,024Net Assets 2015: $3,800,8032015Assets 2016: $4,212,995Liabilities 2016: $371,391Net Assets 2016: $3,841,6042016Assets 2017: $4,353,113Liabilities 2017: $318,703Net Assets 2017: $4,034,4102017Assets 2018: $4,491,245Liabilities 2018: $474,121Net Assets 2018: $4,017,1242018Assets 2019: $4,737,941Liabilities 2019: $453,238Net Assets 2019: $4,284,7032019Assets 2020: $5,294,504Liabilities 2020: $588,073Net Assets 2020: $4,706,4312020Assets 2021: $6,421,079Liabilities 2021: $296,160Net Assets 2021: $6,124,9192021Assets 2022: $6,175,789Liabilities 2022: $62,126Net Assets 2022: $6,113,6632022Assets 2023: $6,418,839Liabilities 2023: $807,577Net Assets 2023: $5,611,2622023Assets 2024: $6,806,141Liabilities 2024: $721,811Net Assets 2024: $6,084,3302024

Highlighted filing

2024

Assets$6,806,141
Liabilities$721,811
Net Assets$6,084,330
Open 2024 Filing

Operations Trend

Revenue Growth13th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2012: $2,096,046Expenses 2012: $2,107,352Net Income 2012: -$11,3062012Revenue 2013: $3,732,452Expenses 2013: $2,267,484Net Income 2013: $1,464,9682013Revenue 2014: $2,884,415Expenses 2014: $2,481,440Net Income 2014: $402,9752014Revenue 2015: $2,762,102Expenses 2015: $2,635,803Net Income 2015: $126,2992015Revenue 2016: $2,758,512Expenses 2016: $2,532,006Net Income 2016: $226,5062016Revenue 2017: $2,736,766Expenses 2017: $2,775,018Net Income 2017: -$38,2522017Revenue 2018: $2,661,676Expenses 2018: $2,781,622Net Income 2018: -$119,9462018Revenue 2019: $3,018,160Expenses 2019: $2,694,012Net Income 2019: $324,1482019Revenue 2020: $3,209,695Expenses 2020: $2,792,067Net Income 2020: $417,6282020Revenue 2021: $2,203,922Expenses 2021: $1,691,560Net Income 2021: $512,3622021Revenue 2022: $3,471,563Expenses 2022: $2,934,853Net Income 2022: $536,7102022Revenue 2023: $2,755,041Expenses 2023: $3,037,148Net Income 2023: -$282,1072023Revenue 2024: $3,136,645Expenses 2024: $3,252,947Net Income 2024: -$116,3022024

Highlighted filing

2024

Revenue$3,136,645
Expenses$3,252,947
Net Income-$116,302
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,806,141
Liabilities
$721,811
Net assets
$6,084,330
Revenue
$3,136,645
Expenses
$3,252,947
Net income
-$116,302
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.81$0.72$6.08$3.14$3.25$0.12
2023Detailed filing. Detailed filing data is available for this year.$6.42$0.81$5.61$2.76$3.04$0.28
2022Detailed filing. Detailed filing data is available for this year.$6.18$0.06$6.11$3.47$2.93$0.54
2021Detailed filing. Detailed filing data is available for this year.$6.42$0.30$6.12$2.20$1.69$0.51
2020Summary only. Only limited summary data is available for this year.$5.29$0.59$4.71$3.21$2.79$0.42
2019Summary only. Only limited summary data is available for this year.$4.74$0.45$4.28$3.02$2.69$0.32
2018Summary only. Only limited summary data is available for this year.$4.49$0.47$4.02$2.66$2.78$0.12
2017Summary only. Only limited summary data is available for this year.$4.35$0.32$4.03$2.74$2.78$0.04
2016Summary only. Only limited summary data is available for this year.$4.21$0.37$3.84$2.76$2.53$0.23
2015Summary only. Only limited summary data is available for this year.$4.28$0.48$3.80$2.76$2.64$0.13
2014Summary only. Only limited summary data is available for this year.$4.25$0.56$3.70$2.88$2.48$0.40
2013Summary only. Only limited summary data is available for this year.$3.49$0.37$3.13$3.73$2.27$1.46
2012Summary only. Only limited summary data is available for this year.$1.89$0.36$1.53$2.10$2.11$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jun 1, 2023 to May 31, 2024
Signed
Mar 31, 2025
Return Version
2023v6.0
Gross Receipts
$3,143,627
Mission and Program Overview

Mission

To bring music to life: believing that music has the power to inspire, the winston-salem symphony will fulfill this mission by enriching the community with live music. The symphony brings performances, educational programs, and community engagement initiatives to where people live and desires for audiences to experience music in a way that is relevant and meaningful to their own lives. Through music, the winston-salem symphony aspires to create shared experiences and connections that improve the quality of life in winston-salem and throughout the region.

To bring music to life - please refer to schedule o for more detail.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,001,018$5,913,714▲ $912,696
Savings and Temporary Cash Investments$446,122$161,863▼ $284,259
Pledges and Grants Receivable$205,581$74,500▼ $131,081
Cash and Non-Interest-Bearing Accounts$48,658$45,551▼ $3,107
Land, Buildings, and Equipment, Net$51,815$43,922▼ $7,893
Accounts Receivable$38,105$39,106▲ $1,001
Prepaid Expenses and Deferred Charges$44,657$18,357▼ $26,300
Total Assets$6,418,839$6,806,141▲ $387,302
Other Assets Total$582,883$509,128▼ $73,755
Liabilities
Other Liabilities$589,109$518,960▼ $70,149
Deferred Revenue$183,104$196,146▲ $13,042
Accounts Payable and Accrued Expenses$35,364$6,705▼ $28,659
Total Liabilities$807,577$721,811▼ $85,766
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,779,122$3,911,578▲ $132,456
Net Assets Without Donor Restrictions$1,832,140$2,172,752▲ $340,612
Total Net Assets Fund Balance$5,611,262$6,084,330▲ $473,068
Total Liabilities and Net Assets / Fund Balance$6,418,839$6,806,141▲ $387,302

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$43,922$145,325$189,247
Other Assets Org$509,128--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$5,001,018$350,000▲ $783,775$192,469$5,913,714
2022$5,241,739-▼ $19,919$192,469$5,001,018
2021$5,587,868$190,000▼ $313,031$192,469$5,241,739
2020$4,569,482$190,000▲ $1,013,682$185,296$5,587,868
2019$4,420,232$190,000▲ $123,032$163,782$4,569,482
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
E Merritt ValePresident &FT$153,723$11,990$165,713
E Merritt ValePresident & CEO-$152,206$13,507$165,713
Amanda NormanCFO/CAOFT$85,286$5,453$90,739
Michelle MerrillSymphony DirectorFT$72,040-$72,040
Amanda LabrecqueDirector-$5,996-$5,996

Board Members and Trustees

NameTitle
Jay ReedBoard Chair
Alice AndersonDirector
Ann Fritchman MerkelDirector
Arthur DebaughDirector
Chris LeakDirector
Christopher GyvesDirector
Cindy RothschildDirector
David LevyDirector
Debbie Wesley-farringtonDirector
Denise RobinsonDirector
Derek HicksDirector
Eileen MajorDirector
Jennifer LydayDirector
Jonathan AllenDirector
Joshua PoindexterDirector
Kenneth BoylesDirector
Kenneth FordDirector
Lew SapharDirector
Malcolm BrownDirector
Matthew BryantDirector
Michael LischkeDirector
Ryan GaylordDirector
Sandra BroadwayDirector
Stephen KramerDirector
Steve KarrDirector
Sue HendersonDirector
Will MunsterDirector
William F Clingman IiiDirector
Carol ReeveImmediate Pa
Pam CashSecretary
Thomas BornemannTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,920,317
Program Service Revenue
$923,743
Investment Income
$255,864
Other Revenue
$36,721
All Other Contributions
$1,769,067
Change in Net Assets
$-116,302

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded4$43,942Fair Market Value
Total Noncash Contributions4$43,942-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,108,035
Revenue Not Reported on Financial Statements
$28,610
Revenue Not Reported on Form 990
$671,272
Total Revenue per Audited Statements
$3,779,307
Total Revenue per Form 990
$3,136,645
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,861,295
Other Expenses$1,391,652
Total Fundraising Expense$367,216
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$771,808$349,684$134,523$1,256,015
Current Officers, Directors, Trustees, and Key Employees$242,757$120,936$44,462$408,155
All Other Expenses$119,889$47,074$43,222$210,185
Fees for Services Other-$78,888$68,377$147,265
Payroll Taxes$76,056$34,459$13,256$123,771
Advertising$65,415$6,495$20,517$92,427
Other Expenses$55,364$18,816$7,651$81,831
Other Employee Benefits$16,906$45,974$10,474$73,354
Office Expenses$2,475$15,848$24,734$43,057
Fees for Service Investment Mgmnt Fees-$28,610-$28,610
Insurance-$22,726-$22,726
Fees for Services Accounting-$18,750-$18,750
Occupancy-$16,331-$16,331
Travel$13,393$717-$14,110
Depreciation Depletion-$7,893-$7,893
Total Functional Expenses$1,981,616$904,115$367,216$3,252,947

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,306,239
Total Expenses per Form 990$3,252,947
Expenses per Audited Statements$3,224,337
Expenses Not Reported on Form 990$81,902
Expenses Not Reported on Financial Statements$28,610
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$6,982
Fundraising Gross Income$6,240
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
Right-of-use Liabilities$518,960
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, Page 6, Part VI, Line 11B

“The finance and audit committee is authorized by the full board to review and accept the form 990 before it is filed.”

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

“The conflict of interest policy is reviewed annually by the directors who are then asked to sign the policy verifying their understanding and acceptance.”

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

“Compensation for the president & ceo and music director is a result of the annual budgeting process. Both the board president and the personnel committee chair are involved in the determination of the dollar amount. Industry comparability data for the president & ceo and music director's compensation is consulted and updated annually through the league of american orchestras with respect to orchestras of a similar budget size. Minutes of such deliberations are not available.”

Form 990, Page 6, Part VI, Line 19

“The symphony's financial statements and form 990 are available upon request from the chief financial & administrative officer. Conflict of interest policies and other documents are available upon request from the president & ceo.”

Filing and Contact Details

Filer

Filer Name
Winston-salem Symphony Association
EIN
56-0692826
Phone
3367251035
Address
301 N MAIN ST SUITE 1901, WINSTONSALEM, NC 27101

Signing Officer

Name
E Merritt Vale
Title
President & CEO
Phone
3367251035
Signed
2025-03-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
E Merritt Vale
Formed
1946
Legal Domicile
Nc
Voting Board Members
32
Independent Board Members
32
Employees
108
Volunteers
75

Preparer

Firm
Butler Burke Llp
Address
100 CLUB OAKS COURT SUITE A, WINSTONSALEM, NC 27104
Preparer
Jane R Potter
Phone
3367682310
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To bring music to life: believing that music has the power to inspire, the winston-salem symphony will fulfill this mission by enriching the community with live music. The symphony brings performances, educational programs, and community engagement initiatives to where people live and desires for audiences to experience music in a way that is relevant and meaningful to their own lives. Through music, the winston-salem symphony aspires to create shared experiences and connections that improve the quality of life in winston-salem and throughout the region.”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“The intended use of the endowment funds is to supplement the operations and programs of the winston-salem symphony association.”

Schedule D, Page 3, Part X

“The association is a not-for-profit organization and is exempt from income taxes under section 501(c)(3) of the internal revenue code. Accordingly, income tax expense is limited to activities that are deemed by the internal revenue service to be unrelated to their exempt purpose. The associations primary tax positions relate to its status as a not-for profit entity exempt from income taxes and classification of activities related to its exempt purpose. It is the opinion of management that the association has no uncertain tax positions that would be subject to change upon examination. The association is required to file a federal exempt organization tax return (form 990) annually to retain its exempt status. The association is also required to file an exempt organization business income tax return (form 990-t) for any year gross unrelated business income exceeds 1,000. The associations form 990 filings are generally subject to examination by the internal revenue service for three years after they are filed.”

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

“Fundraising expenses netted with revenue 6,982”

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

“Fundraising expenses netted with revenue 6,982”

Raw XML AppendixShowing 400 of 750 raw XML fields

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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IRS990/MissionDesc0TO BRING MUSIC TO LIFE: BELIEVING THAT MUSIC HAS THE POWER TO INSPIRE, THE WINSTON-SALEM SYMPHONY WILL FULFILL THIS MISSION BY ENRICHING THE COMMUNITY WITH LIVE MUSIC. THE SYMPHONY BRINGS PERFORMANCES, EDUCATIONAL PROGRAMS, AND COMMUNITY ENGAGEMENT INITIATIVES TO WHERE PEOPLE LIVE AND DESIRES FOR AUDIENCES TO EXPERIENCE MUSIC IN A WAY THAT IS RELEVANT AND MEANINGFUL TO THEIR OWN LIVES. THROUGH MUSIC, THE WINSTON-SALEM SYMPHONY ASPIRES TO CREATE SHARED EXPERIENCES AND CONNECTIONS THAT IMPROVE THE QUALITY OF LIFE IN WINSTON-SALEM AND THROUGHOUT THE REGION.
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