Civic Intelligence

The Wilmington Symphony Orchestra Inc.

990 • Fiscal year 2018 • EIN 56-1489990

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 15, 2018

5032 Randall ParkwayWilmington, NC 28403

(910) 791-9262

Siviq Scores

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

Liabilities / Assets

47th percentile

0.04x

Higher debt load relative to assets than 47% of similar nonprofits.

2018 filings • NTEE A • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

49th percentile

0.04x

Higher debt load relative to revenue than 49% of similar nonprofits.

2018 filings • NTEE A • $500k-$1M nonprofits • Source year 2018

Net Margin

41st percentile

0.4%

Higher net margin than 41% of similar nonprofits.

2018 filings • NTEE A • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

78th percentile

$67,600

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 17.3% of source-year revenue.

2018 filings • NTEE A • $500k-$1M nonprofits • Source year 2018

Asset Growth

15th percentile

-12%

Faster asset growth than 15% of similar nonprofits.

2018 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

64th percentile

15%

Faster revenue growth than 64% of similar nonprofits.

2018 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Down

$418,540

Down $56,488 (-12%) from 2017

Net Assets

Up

$403,342

Up $15,541 (+4.0%) from 2017

Liabilities

Down

$15,198

Down $72,029 (-83%) from 2017

Revenue

Up

$389,983

Up $50,073 (+15%) from 2017

Expenses

Up

$388,351

Up $40,357 (+12%) from 2017

Net Income

Up

$1,632

Up $9,716 (+120%) from 2017

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2011: $196,359Liabilities 2011: $47,896Net Assets 2011: $148,4632011Assets 2012: $195,084Liabilities 2012: $30,505Net Assets 2012: $164,5792012Assets 2013: $252,417Liabilities 2013: $34,361Net Assets 2013: $218,0562013Assets 2014: $317,372Liabilities 2014: $70,508Net Assets 2014: $246,8642014Assets 2015: $323,008Liabilities 2015: $47,001Net Assets 2015: $276,0072015Assets 2016: $377,072Liabilities 2016: $9,032Net Assets 2016: $368,0402016Assets 2017: $475,028Liabilities 2017: $87,227Net Assets 2017: $387,8012017Assets 2018: $418,540Liabilities 2018: $15,198Net Assets 2018: $403,3422018Assets 2019: $409,610Liabilities 2019: $58,739Net Assets 2019: $350,8712019Assets 2020: $353,331Liabilities 2020: $52,648Net Assets 2020: $300,6832020Assets 2021: $552,686Liabilities 2021: $236,800Net Assets 2021: $315,8862021Assets 2022: $611,638Liabilities 2022: $263,239Net Assets 2022: $348,3992022Assets 2023: $702,828Liabilities 2023: $206,364Net Assets 2023: $496,4642023Assets 2024: $635,335Liabilities 2024: $228,187Net Assets 2024: $407,1482024

Highlighted filing

2018

Assets$418,540
Liabilities$15,198
Net Assets$403,342

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2011: $271,358Expenses 2011: $269,773Net Income 2011: $1,5852011Expenses 2012: $283,2532012Expenses 2013: $303,5092013Revenue 2014: $315,215Expenses 2014: $304,439Net Income 2014: $10,7762014Revenue 2015: $340,591Expenses 2015: $311,448Net Income 2015: $29,1432015Revenue 2016: $432,098Expenses 2016: $339,942Net Income 2016: $92,1562016Revenue 2017: $339,910Expenses 2017: $347,994Net Income 2017: -$8,0842017Revenue 2018: $389,983Expenses 2018: $388,351Net Income 2018: $1,6322018Revenue 2019: $430,733Expenses 2019: $475,193Net Income 2019: -$44,4602019Revenue 2020: $348,547Expenses 2020: $371,128Net Income 2020: -$22,5812020Revenue 2021: $270,371Expenses 2021: $255,492Net Income 2021: $14,8792021Revenue 2022: $522,071Expenses 2022: $462,977Net Income 2022: $59,0942022Revenue 2023: $624,228Expenses 2023: $572,490Net Income 2023: $51,7382023Revenue 2024: $569,571Expenses 2024: $712,446Net Income 2024: -$142,8752024

Highlighted filing

2018

Revenue$389,983
Expenses$388,351
Net Income$1,632
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 15, 2018
Return Version
2017v2.2
Gross Receipts
$533,469
Mission and Program Overview

Mission

WSO strives to provide high-quality, symphonic music to the local community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$378,291$378,296▲ $5
Land, Buildings, and Equipment, Net$12,180$15,100▲ $2,920
Prepaid Expenses and Deferred Charges$12,874$14,253▲ $1,379
Accounts Receivable$66,571$10,891▼ $55,680
Cash and Non-Interest-Bearing Accounts$5,112$0▼ $5,112
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$475,028$418,540▼ $56,488
Other Assets Total-$0-
Liabilities
Deferred Revenue$83,425$7,691▼ $75,734
Accounts Payable and Accrued Expenses$3,802$7,507▲ $3,705
Total Liabilities$87,227$15,198▼ $72,029
Net Assets / Fund Balance
Unrestricted Net Assets$264,943$258,451▼ $6,492
Temporarily Rstr Net Assets$62,858$84,891▲ $22,033
Permanently Rstr Net Assets$60,000$60,000→ $0
Total Net Assets Fund Balance$387,801$403,342▲ $15,541
Total Liabilities and Net Assets / Fund Balance$475,028$418,540▼ $56,488

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$15,100$9,993$25,093
Other Land Buildings-$3,145$3,145

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$356,263-▲ $22,033-$378,296
2016$317,843$2,000▲ $38,966$2,546$356,263
2015$230,328$92,000▼ $1,262$3,223$317,843
2014$214,572$15,455▲ $498$197$230,328
2013$191,662$5,200▲ $22,255$4,545$214,572
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Reed WallaceExecutive DirectorFT$67,600$67,600

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$141,178
Program Service Revenue
$220,273
Investment Income
$14,334
Other Revenue
$14,198
All Other Contributions
$137,178
Change in Net Assets
$1,632
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$241,268
Salaries, Compensation, and Employee Benefits$147,083
Total Fundraising Expense$44,387
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$83,890--$83,890
Other Salaries and Wages$54,801$3,491$10,624$68,916
Current Officers, Directors, Trustees, and Key Employees$33,800$13,520$20,280$67,600
Occupancy$31,849$1,869$3,163$36,881
Other Expenses$11,260$2,122$6,474$19,856
Payroll Taxes$6,858$1,317$2,392$10,567
Fees for Service Investment Mgmnt Fees-$5,236-$5,236
Insurance$2,683$537$908$4,128
Depreciation Depletion$3,333--$3,333
Fees for Services Accounting-$1,865-$1,865
Travel$911$364$546$1,821
Total Functional Expenses$313,643$30,321$44,387$388,351
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$44,798
Fundraising Direct Expenses$30,600
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$29,705$29,705$765$28,940
Beethoven 5K$15,093$15,093$9,899$5,194
Total Events$44,798$44,798$30,600$14,198
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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 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, Part VI, Line 11B: Form 990 Review Process

The 990 is prepared by an independent CPA, reviewed by the executive director and treasurer. Other board members are notified of its availability for review.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Annual distribution and review of the policy at a board meeting.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

WSO participates in a salary survey through the League of American Orchestras every few years in order to determine the comparability of the Executive Director's compensation to those of executive directors at similarly-sized orchestras.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

As above.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Form 990 is available at guidestar.org and upon request from WSO. Other governing documents are made available upon written request.

Filing and Contact Details

Filer

Filer Name
Wilmington Symphony Orchestra Inc
EIN
56-1489990
Phone
9107919262
Address
5032 Randall Parkway, Wilmington, NC 28403

Signing Officer

Name
Robert Roer
Title
Treasurer
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bob Austin
Formed
1971
Legal Domicile
Nc
Voting Board Members
31
Independent Board Members
31
Employees
7
Volunteers
31

Preparer

Firm
Bearmancpa Pllc
Address
124 Cavalier Dr, WILMINGTON, NC 28403-2547
Preparer
Nigel Bearman
Phone
9105080630
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

To fund 3rd chair, 1st violin, chairs of the percussion section, Concertmaster chair, and providing program support.

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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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IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt19Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt30Director
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.35$2.28$4.07$5.70$7.12$1.43
2023Detailed filing. Detailed filing data is available for this year.$7.03$2.06$4.96$6.24$5.72$0.52
2022Detailed filing. Detailed filing data is available for this year.$6.12$2.63$3.48$5.22$4.63$0.59
2021Detailed filing. Detailed filing data is available for this year.$5.53$2.37$3.16$2.70$2.55$0.15
2020Detailed filing. Detailed filing data is available for this year.$3.53$0.53$3.01$3.49$3.71$0.23
2019Detailed filing. Detailed filing data is available for this year.$4.10$0.59$3.51$4.31$4.75$0.44
2018Detailed filing. Detailed filing data is available for this year.$4.19$0.15$4.03$3.90$3.88$0.02
2017Detailed filing. Detailed filing data is available for this year.$4.75$0.87$3.88$3.40$3.48$0.08
2016Detailed filing. Detailed filing data is available for this year.$3.77$0.09$3.68$4.32$3.40$0.92
2015Detailed filing. Detailed filing data is available for this year.$3.23$0.47$2.76$3.41$3.11$0.29
2014Detailed filing. Detailed filing data is available for this year.$3.17$0.71$2.47$3.15$3.04$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.52$0.34$2.18$3.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.95$0.31$1.65$2.83
2011Summary only. Only limited summary data is available for this year.$1.96$0.48$1.48$2.71$2.70$0.02