Civic Intelligence

Dallas Symphony Association Inc.

990 • Fiscal year 2021 • EIN 75-0705442

Jun 01, 2020 to May 31, 2021 • Filed on Apr 15, 2022

2301 FLORA STREET Suite 300Dallas, TX 75201

(214) 871-4000

Siviq Scores

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

Liabilities / Assets

85th percentile

0.73x

Higher debt load relative to assets than 85% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

71st percentile

0.65x

Higher debt load relative to revenue than 71% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

10th percentile

-10%

Higher net margin than 10% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

85th percentile

$511,509

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

4th percentile

-13%

Faster asset growth than 4% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

9th percentile

-23%

Faster revenue growth than 9% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Assets

Down

$26,513,367

Down $3,966,677 (-13%) from 2020

Net Assets

Up

$7,177,204

Up $3,515,094 (+96%) from 2020

Liabilities

Down

$19,336,163

Down $7,481,771 (-28%) from 2020

Revenue

Down

$29,712,170

Down $8,991,006 (-23%) from 2020

Expenses

Down

$32,773,180

Down $5,874,351 (-15%) from 2020

Net Income

Down

-$3,061,010

Down $3,116,655 (-5601%) from 2020

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0-$10MAssets 2010: $15,665,879Liabilities 2010: $17,039,009Net Assets 2010: -$1,373,1302010Assets 2011: $23,765,704Liabilities 2011: $13,133,930Net Assets 2011: $10,631,7742011Assets 2012: $22,277,839Liabilities 2012: $16,030,458Net Assets 2012: $6,247,3812012Assets 2013: $22,085,720Liabilities 2013: $14,870,797Net Assets 2013: $7,214,9232013Assets 2014: $23,240,972Liabilities 2014: $16,912,809Net Assets 2014: $6,328,1632014Assets 2015: $23,957,054Liabilities 2015: $14,546,756Net Assets 2015: $9,410,2982015Assets 2016: $18,323,269Liabilities 2016: $21,064,612Net Assets 2016: -$2,741,3432016Assets 2017: $18,154,632Liabilities 2017: $17,781,733Net Assets 2017: $372,8992017Assets 2018: $18,052,234Liabilities 2018: $15,909,132Net Assets 2018: $2,143,1022018Assets 2019: $18,822,580Liabilities 2019: $14,709,280Net Assets 2019: $4,113,3002019Assets 2020: $30,480,044Liabilities 2020: $26,817,934Net Assets 2020: $3,662,1102020Assets 2021: $26,513,367Liabilities 2021: $19,336,163Net Assets 2021: $7,177,2042021Assets 2022: $30,741,706Liabilities 2022: $15,249,194Net Assets 2022: $15,492,5122022Assets 2023: $32,083,320Liabilities 2023: $20,641,845Net Assets 2023: $11,441,4752023Assets 2024: $32,564,587Liabilities 2024: $26,064,664Net Assets 2024: $6,499,9232024

Highlighted filing

2021

Assets$26,513,367
Liabilities$19,336,163
Net Assets$7,177,204

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $33,380,3062010Expenses 2011: $32,976,0492011Expenses 2012: $31,969,2912012Expenses 2013: $34,099,9402013Revenue 2014: $34,487,151Expenses 2014: $36,744,016Net Income 2014: -$2,256,8652014Revenue 2015: $42,118,038Expenses 2015: $36,244,884Net Income 2015: $5,873,1542015Revenue 2016: $26,874,582Expenses 2016: $37,473,130Net Income 2016: -$10,598,5482016Revenue 2017: $35,978,945Expenses 2017: $35,513,077Net Income 2017: $465,8682017Revenue 2018: $34,770,276Expenses 2018: $34,675,594Net Income 2018: $94,6822018Revenue 2019: $36,941,165Expenses 2019: $33,947,391Net Income 2019: $2,993,7742019Revenue 2020: $38,703,176Expenses 2020: $38,647,531Net Income 2020: $55,6452020Revenue 2021: $29,712,170Expenses 2021: $32,773,180Net Income 2021: -$3,061,0102021Revenue 2022: $50,872,025Expenses 2022: $42,188,930Net Income 2022: $8,683,0952022Revenue 2023: $42,846,822Expenses 2023: $46,099,929Net Income 2023: -$3,253,1072023Revenue 2024: $41,616,612Expenses 2024: $48,972,080Net Income 2024: -$7,355,4682024

Highlighted filing

2021

Revenue$29,712,170
Expenses$32,773,180
Net Income-$3,061,010
Jump To
Filing Snapshot
Filing Period
Jun 1, 2020 to May 31, 2021
Signed
Apr 15, 2022
Return Version
2020v4.1
Gross Receipts
$29,735,262
Mission and Program Overview

Mission

To inspire and change lives through musical excellence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,853,043$9,351,414▲ $1,498,371
Savings and Temporary Cash Investments$8,483,666$6,367,715▼ $2,115,951
Accounts Receivable$10,007,178$6,034,343▼ $3,972,835
Land, Buildings, and Equipment, Net$3,045,624$3,768,212▲ $722,588
Prepaid Expenses and Deferred Charges$1,036,859$943,301▼ $93,558
Inventories for Sale or Use$53,674$48,382▼ $5,292
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$30,480,044$26,513,367▼ $3,966,677
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$15,159,951$9,144,555▼ $6,015,396
Accounts Payable and Accrued Expenses$1,978,857$4,212,480▲ $2,233,623
Deferred Revenue$3,120,610$3,274,436▲ $153,826
Other Liabilities$6,558,516$2,704,692▼ $3,853,824
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$26,817,934$19,336,163▼ $7,481,771
Net Assets / Fund Balance
Net Assets With Donor Restrictions$14,421,930$15,400,234▲ $978,304
Net Assets Without Donor Restrictions$-10,759,820$-8,223,030▲ $2,536,790
Total Net Assets Fund Balance$3,662,110$7,177,204▲ $3,515,094
Total Liabilities and Net Assets / Fund Balance$30,480,044$26,513,367▼ $3,966,677

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,873,887$1,900,338-
Equipment$180,282$2,172,599-
Leasehold Improvements$1,714,043$6,378,929-

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$7,633,622$424,555▲ $1,073,815-$9,131,992
2019$7,284,360$404,490▼ $55,228-$7,633,622
2018$7,399,435$391,871▼ $506,946-$7,284,360
2017$7,007,205$385,845▲ $6,385-$7,399,435
2016$6,790,525$390,019▼ $173,339-$7,007,205
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kim NoltemyPresident & CEOFT$422,727$87,304$514,018
Alexander KerrMusicianPT$329,672$33,483$348,969
Scott WalzelMusician/Cons. for Comm.Dev.FT$236,539$41,866$269,251
Andrew CameronCFOFT$183,302$48,266$240,127
Debra PenaVP of People & FacilitiesFT$184,547$42,904$230,237
Christopher AdkinsMusicianPT$195,095$14,081$219,002
Nathan OlsonMusicianPT$181,565$31,781$213,346
Peter CzornyjVP of Artistic OperationsFT$163,642$45,586$209,823
Erin HanniganMusicianPT$173,415$13,445$207,086
James LefflerVP of DevelopmentFT$176,714$15,940$200,067
Denise McgovernVP of CommunicationsFT$112,591$35,118$147,709
Kim BurganVP of MarketingFT$139,302$43,497$139,302

Board Members and Trustees

NameTitle
Cece SmithChair Elect & Secretary
Sanjiv YajnikChairman
Joseph F HubachImmediate Past Chair
Margot PerotVice Chair
Nancy NasherVice chairman
Adriana HutsonBoard of Governors
Alan J GoldBoard of Governors
Amy CarenzaBoard of Governors
Amy KorenvaesBoard of Governors
Andrew ClugstonBoard of Governors
Andrew NallBoard of Governors
Arthur F SelanderBoard of Governors
Barbara DasekeBoard of Governors
Barbara SypultBoard of Governors
Bonnie Floyd MDBoard of Governors
Byron SandersBoard of Governors
Caroline KohlBoard of Governors
Cherryl PetermanBoard of Governors
Cindy FeldBoard of Governors
Craig LentzschBoard of Governors
David EmmonsBoard of Governors
Davis HamlinBoard of Governors
Donald J StoneBoard of Governors
Doug HaloftisBoard of Governors
Enika SchulzeBoard of Governors
Enisha ShropshireBoard of Governors
Francisco de la Torre GalindoBoard of Governors
Ginger SagerBoard of Governors
Gloria McCall SneadBoard of Governors
Grace CookBoard of Governors
Greg DavisBoard of Governors
Gregg BallewBoard of Governors
Holly MayerBoard of Governors
Howard BrownBoard of Governors
Jacqueline PorterBoard of Governors
James BildnerBoard of Governors
James C ScottBoard of Governors
Jeffrey RichBoard of Governors
Jessica ShepherdBoard of Governors
Joanne BoberBoard of Governors
Joseph V Hughes JrBoard of Governors
Julie JohnsonBoard of Governors
Karina WoolleyBoard of Governors
Keith BraleyBoard of Governors
Kern WildenthalBoard of Governors
Key CokerBoard of Governors
Kim HextBoard of Governors
Kizuwanda GrantBoard of Governors
Kristi KennedyBoard of Governors
Laree HulshoffBoard of Governors
Lea Anne LaughlinBoard of Governors
Leandre JohnsBoard of Governors
Linda VanSickle SmithBoard of Governors
Maisie HeikenBoard of Governors
Marena GaultBoard of Governors
Marion FloresBoard of Governors
Mark LaRoeBoard of Governors
Martha WellsBoard of Governors
Melissa Ruman StewartBoard of Governors
Myrna SchlegelBoard of Governors
Nancy BiermanBoard of Governors
Nick AdamsonBoard of Governors
Randall G GossBoard of Governors
Randall WieleBoard of Governors
Robert E SegertBoard of Governors
Robert KaplanBoard of Governors
Roberta CorbettBoard of Governors
Ron MankoffBoard of Governors
Shirley McIntyreBoard of Governors
Spence BealBoard of Governors
Susie WilsonBoard of Governors
T Peter TownsendBoard of Governors
TD JakesBoard of Governors
Tamara Marinkovic HinesBoard of Governors
Terry LoftisBoard of Governors
Tim McDonaldBoard of Governors
Wei Ling WangBoard of Governors
Whit RobertsBoard of Governors
Zannie VossBoard of Governors
Zenetta DrewBoard of Governors
Brian RatnerExecutive Board
Donna Arp WeitzmanExecutive Board
Geoffroy van RaemdonckExecutive Board
James E Wiley JrExecutive Board
Jeffrey M Robinsonexecutive board
Jerrie KertzExecutive Board
John R CohnExecutive Board
Krunali PatelExecutive Board
Linda McFarlandExecutive Board
Quincy RobertsExecutive Board
Roger C GaultExecutive Board
Ronald J Gaffordexecutive board
Sarah L TitusExecutive Board
Stanley A RabinExecutive Board
William McIntyreExecutive Board
Yon Y JordenTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Fabio LuisiMusic Production5 Columbus Circle at Broadway, New York, NY 10019, Sz$580,269
Columbia Artists MGT LLCMusic Production348 West 57th Street Suite 282, New York, NY 10019$231,250
Opus 3 Artists LLCMusic Production-$185,000
Revenue and Support

Revenue Composition

Contributions and Grants
$14,264,036
Program Service Revenue
$2,313,244
Investment Income
$2,477
Other Revenue
$13,132,413
All Other Contributions
$14,150,674
Change in Net Assets
$-3,061,010

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded37$324,037Fair Market Value (FMV) of Stock
Total Noncash Contributions37$324,037-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$21,445,705
Other Expenses$11,146,905
Total Fundraising Expense$2,749,067
Professional Fundraising Fees$180,570
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$13,539,849$689,414$1,041,805$15,271,068
Other Employee Benefits$2,766,911$140,884$212,896$3,120,691
Current Officers, Directors, Trustees, and Key Employees$2,493,112$126,943$191,829$2,811,884
Occupancy$1,916,418$172,934$209,616$2,298,968
Pension Plan Contributions$1,272,205$64,777$97,888$1,434,870
All Other Expenses$376,123$297,922$223,937$897,982
Other Expenses$614,469$350,072$2,415$614,469
Information Technology$246,999$118,413$103,445$468,857
Depreciation Depletion$124,511$193,545$49,382$367,438
Office Expenses$101,870$81,177$125,161$308,208
Insurance$151,952$147,982-$299,934
Advertising$277,996--$277,996
Travel$118,547$50,510$13,105$182,162
Fees for Services Professional Fundraising--$180,570$180,570
Fees for Services Legal$40,013$107,779$13,140$160,932
Royalties$108,972--$108,972
Interest-$100,110-$100,110
Conferences and Meetings$9,551$5,885$9,226$24,662
Payroll Taxes$-1,057,585$-53,849$-81,374$-1,192,808
Total Functional Expenses$27,052,646$2,971,467$2,749,067$32,773,180
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$280,863
Professional Fundraising Fees$180,570
Fundraising Direct Expenses$2,906
Gaming Direct Expenses$0
Gaming Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
League Mis Fund$152,442$152,442$1,161$151,281
Spring Luncheon$51,425$51,425-$51,425
Total Events$280,863$280,863$2,906$277,957
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Pension Benefit Liabil$2,704,692
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Sect B, line 12C - CONFLICT OF INTEREST POLICY

THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY. A CONFLICT OF INTEREST QUESTIONNAIRE IS SENT OUT ANNUALLY TO EVERY MEMBER OF THE GOVERNING BODY. THE RESULTS ARE REVIEWED TO DETERMINE WHETHER THERE ARE ANY MEMBERS OF THE GOVERNING BODY WHO ARE NOT INDEPENDENT. The following situations were identified but are not considered to give rise to any conflicts: Kim Noltemy (#1), the president and CEO of the DSA also serves on the board of directors for the Dallas Black Theatre (DBDT). Board of governors member Zenetta Drew (#69) is the executive director of the DBDT.

form 990, part VI, Sect B, Line 15-COMPENSATION COMMITTEE

The organization has a compensation committee that follows a charter adopted by the governing body. The committee meets at least annually to review compensation benchmarking for the ceo and other senior executive management. The committee recommends to the executive board for approval the ceo annual bonus (if any), the compensation for new hires and compensation adjustments for senior executives.

form 990, part VI, SEct B, Line 11B-TAX RETURN PREPARATION

The 990 is prepared by the Controller, reviewed by the Chief Financial Officer and President & CEO of the Dallas Symphony Association. The form and all supporting documents are provided to Tax Accountants at BDO USA, LLP for review and entry into an efile system. The return is reviewed by outside legal counsel. The form 990 is reviewed by the Dallas symphony association audit committee prior to being filed. Upon final review by the Audit Committee, the return/e-file authorization is signed by the President & CEO of the Dallas Symphony Association. A copy is provided to the executive board for their review and is made available to all other board members upon request.

form 990, Part VI, SEct C, Line 19-FINANCIAL STATEMENTS AVAILABLE

The organization makes its financial statements available to the public on the guidestar website and by request. Conflicts of interest policy is available via request. The restated certificate of formation is available to the public via another's website. The bylaws are not made available to the public.

form 990, Part VI, Sect A, Line 6, 7A and 7B - MEMBERSHIP

the organization has members as defined. The Trustees/Members of the Dallas Symphony Association elect the governing body.

Filing and Contact Details

Filer

Filer Name
Dallas Symphony Association
EIN
75-0705442
In Care Of
% DEANIE SEWELL CONTROLLER
Phone
2148714000
Address
2301 FLORA STREET Suite 300, DALLAS, TX 75201

Signing Officer

Name
Kim Noltemy
Title
President & CEO
Phone
2148714000
Signed
2022-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim Noltemy
Formed
1945
Legal Domicile
TX
Voting Board Members
96
Independent Board Members
96
Employees
378
Volunteers
1,000

Preparer

Firm
Bdo USA Llp
Address
600 NORTH PEARL ST SUITE 1700, DALLAS, TX 75201
Preparer
Laurie B Elmore CPA
Phone
2149697007
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Reconciliation of Net Assets

The amount on line 9, other changes in net assets or fund balance, represents the change in the Minimum Pension Liability $5,462,194.

Financial Statement Notes

Sch D, Part V, Line 4 - Use of Endowment

The endowment's intended uses are for both restricted distributions in accordance with donor designations and distributions for general operating expenses.

Sch D, Part X, Line 2 - Minimum pension liablity adjustment

The adjustment is the minimum pension liability adjustment necessary under FAS 158 to disclose the change in the financial status of the Dallas Symphony defined benefit plans.

Sch D, Part X - Fin 48 Disclosure

The dallas symphony association is exempt from income taxes under the provisions of section 501(c)(3) of the internal revenue code. The association recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in reconciliation from measurement are reflected in the period in which the change in judgement occurs. Management believes there are no significant uncertain tax positions.

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IRS990/Desc0The Dallas Symphony Orchestra's mission statement is to inspire and change lives through musical excellence. It strives to be a key catalyst in making Dallas a world-class city and major cultural center with the DSO as a landmark. The DSO is ranked among the top American Orchestras. The classical Series, Pops Series and numerous events highlighting diversity in the city, along with youth concerts, number over 165 performances each year. As a community partner, the Dallas Symphony Orchestra sponsors the following programs: Community Connections (free tickets distributed by social service agencies), Young Strings (provides free instruments and music lessons to students), YOUNG MUSICIANS (PROVIDES FREE INSTRUMENTS AND LESSONS FOR STUDENTS AT DALLAS ISD SITES ACROSS SOUTHERN DALLAS), Symphony YES (provides musician ensembles to perform in area schools), DSO Kids (educational website for children and teachers), and My DSO Concert (free concert for adults and children with autism and developmental disabilities). The Dallas Symphony Orchestra is a community of passionate music lovers making more music lovers.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$32.6$26.1$6.50$41.6$49.0$7.36
2023Detailed filing. Detailed filing data is available for this year.$32.1$20.6$11.4$42.8$46.1$3.25
2022Detailed filing. Detailed filing data is available for this year.$30.7$15.2$15.5$50.9$42.2$8.68
2021Detailed filing. Detailed filing data is available for this year.$26.5$19.3$7.18$29.7$32.8$3.06
2020Detailed filing. Detailed filing data is available for this year.$30.5$26.8$3.66$38.7$38.6$0.06
2019Detailed filing. Detailed filing data is available for this year.$18.8$14.7$4.11$36.9$33.9$2.99
2018Detailed filing. Detailed filing data is available for this year.$18.1$15.9$2.14$34.8$34.7$0.09
2017Detailed filing. Detailed filing data is available for this year.$18.2$17.8$0.37$36.0$35.5$0.47
2016Detailed filing. Detailed filing data is available for this year.$18.3$21.1$2.74$26.9$37.5$10.6
2015Detailed filing. Detailed filing data is available for this year.$24.0$14.5$9.41$42.1$36.2$5.87
2014Detailed filing. Detailed filing data is available for this year.$23.2$16.9$6.33$34.5$36.7$2.26
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.1$14.9$7.21$34.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.3$16.0$6.25$32.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.8$13.1$10.6$33.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.7$17.0$1.37$33.4