Civic Intelligence

Midland Odessa Symphony and Chorale Inc.

990 • Fiscal year 2014 • EIN 75-1301544

Jul 01, 2013 to Jun 30, 2014 • Filed on May 15, 2015

P O Box 6065879711

(432) 563-0921

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.01x

Higher debt load relative to assets than 22% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

24th percentile

0.02x

Higher debt load relative to revenue than 24% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

66th percentile

9.4%

Higher net margin than 66% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

54th percentile

$70,000

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 5.9% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

78th percentile

15%

Faster asset growth than 78% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Up

$3,531,149

Up $471,400 (+15%) from 2013

Net Assets

Up

$3,508,231

Up $468,507 (+15%) from 2013

Liabilities

Up

$22,918

Up $2,893 (+14%) from 2013

Revenue

$1,192,411

No earlier filing loaded for comparison.

Expenses

Up

$1,080,504

Up $89,695 (+9.1%) from 2013

Net Income

$111,907

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $2,824,611Liabilities 2011: $33,066Net Assets 2011: $2,791,5452011Assets 2012: $2,810,458Liabilities 2012: $34,420Net Assets 2012: $2,776,0382012Assets 2013: $3,059,749Liabilities 2013: $20,025Net Assets 2013: $3,039,7242013Assets 2014: $3,531,149Liabilities 2014: $22,918Net Assets 2014: $3,508,2312014Assets 2015: $3,649,130Liabilities 2015: $27,196Net Assets 2015: $3,621,9342015Assets 2016: $3,413,989Liabilities 2016: $28,052Net Assets 2016: $3,385,9372016Assets 2017: $3,577,127Liabilities 2017: $26,181Net Assets 2017: $3,550,9462017Assets 2018: $3,903,864Liabilities 2018: $25,774Net Assets 2018: $3,878,0902018Assets 2019: $3,875,005Liabilities 2019: $35,622Net Assets 2019: $3,839,3832019Assets 2020: $3,758,109Liabilities 2020: $119,427Net Assets 2020: $3,638,6822020Assets 2021: $4,668,029Liabilities 2021: $135,782Net Assets 2021: $4,532,2472021Assets 2022: $3,858,928Liabilities 2022: $36,209Net Assets 2022: $3,822,7192022Assets 2023: $3,690,748Liabilities 2023: $40,399Net Assets 2023: $3,650,3492023Assets 2024: $3,762,130Liabilities 2024: $47,768Net Assets 2024: $3,714,3622024

Highlighted filing

2014

Assets$3,531,149
Liabilities$22,918
Net Assets$3,508,231

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $754,9282011Expenses 2012: $862,2962012Expenses 2013: $990,8092013Revenue 2014: $1,192,411Expenses 2014: $1,080,504Net Income 2014: $111,9072014Revenue 2015: $1,265,495Expenses 2015: $1,127,649Net Income 2015: $137,8462015Revenue 2016: $1,113,424Expenses 2016: $1,238,286Net Income 2016: -$124,8622016Revenue 2017: $1,088,335Expenses 2017: $1,183,096Net Income 2017: -$94,7612017Revenue 2018: $1,338,017Expenses 2018: $1,242,410Net Income 2018: $95,6072018Revenue 2019: $1,126,089Expenses 2019: $1,268,264Net Income 2019: -$142,1752019Revenue 2020: $1,077,419Expenses 2020: $1,265,776Net Income 2020: -$188,3572020Revenue 2021: $1,189,263Expenses 2021: $1,108,658Net Income 2021: $80,6052021Revenue 2022: $1,069,379Expenses 2022: $1,293,870Net Income 2022: -$224,4912022Revenue 2023: $915,683Expenses 2023: $1,385,467Net Income 2023: -$469,7842023Revenue 2024: $1,086,000Expenses 2024: $1,376,342Net Income 2024: -$290,3422024

Highlighted filing

2014

Revenue$1,192,411
Expenses$1,080,504
Net Income$111,907
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 15, 2015
Return Version
2013v4.0
Gross Receipts
$1,214,841
Mission and Program Overview

Mission

The mission of the midland-odessa symphony & chorale is to enhance the quality of life in the permian basin by providing outstanding symphonic, choral and chamber music performances and music education programs.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,590,281$1,742,813▲ $152,532
Investments in Publicly Traded Securities$1,031,982$1,183,604▲ $151,622
Cash and Non-Interest-Bearing Accounts$309,507$502,988▲ $193,481
Land, Buildings, and Equipment, Net$63,608$60,616▼ $2,992
Accounts Receivable$34,899$27,100▼ $7,799
Prepaid Expenses and Deferred Charges$29,472$14,028▼ $15,444
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 Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$3,059,749$3,531,149▲ $471,400
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$20,025$22,918▲ $2,893
Total Liabilities$20,025$22,918▲ $2,893
Net Assets / Fund Balance
Unrestricted Net Assets$1,185,000$1,508,399▲ $323,399
Permanently Rstr Net Assets$1,356,145$1,372,520▲ $16,375
Temporarily Rstr Net Assets$498,579$627,312▲ $128,733
Total Net Assets Fund Balance$3,039,724$3,508,231▲ $468,507
Total Liabilities and Net Assets / Fund Balance$3,059,749$3,531,149▲ $471,400

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$21,266$245,086$266,352
Buildings$38,350$103,528$141,878
Other Land Buildings-$16,000$16,000
Land$1,000-$1,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$2,622,263$18,208▲ $409,956$124,010$2,926,417
2012$2,263,275$201,201▲ $268,998$111,211$2,622,263
2011$2,273,746$95,708▼ $1,401$104,778$2,263,275
2010$1,948,343$2,050▲ $433,500$110,147$2,273,746
2009$1,465$181,822--$1,948,343
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jeannette KolokoffExecutive DirecFT$70,000$70,000
Gary LewisMusic DirectorPT$47,000$47,000
Melissa GrahamOrch Rep-$16,466$16,466

Board Members and Trustees

NameTitle
Sue SolariPresident
Abigail KauffmanDirector
Ann ParishDirector
Barbara DavisDirector
Barbara FaubionDirector
Bill FeuerDirector
Charlie GrimesDirector
Chris NewmanDirector
Cindy BoboDirector
Dale BrownDirector
David LauritzenDirector
Dr Thomas HydeDirector
Floyd RoundtreeDirector
Janet HughesDirector
Janet PollardDirector
Jay ReynoldsDirector
Joanna Hadjicostandi-anangDirector
Judy GladdenDirector
Karmen BryantDirector
Kathleen CornwellDirector
Kay BivensDirector
Linda GeorgeDirector
Malia AlbinDirector
Mike WillsonDirector
Nash DowdleDirector
Penny AngeloDirector
Rebecca BellDirector
Sharon HumphreysDirector
Sheilagh BassettDirector
Stephanie LatimerDirector
Daniel LoudenbackEcisd Rep
Ladoyce LambertExecutive VP
Scott LongImmed Past Pres
Gloria AbalosMidland Guild
Deb ShawMisd Rep
Dawnna TalleyOdessa Guild
Carol ChandlerSecretary
Brad BullockVP Finance
Maridell FryarVP Fundraising
Jacqui GoreVP Marketing
Beverly AlstrinVP Sponsorships
Ty SuttonWnpac Gm
Revenue and Support

Revenue Composition

Contributions and Grants
$758,731
Program Service Revenue
$362,615
Investment Income
$53,492
Other Revenue
$17,573
All Other Contributions
$731,831
Change in Net Assets
$111,907

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,214,841
Revenue Not Reported on Financial Statements
$-22,430
Revenue Not Reported on Form 990
$356,600
Other Revenue Adjustments
$-22,430
Total Revenue per Audited Statements
$1,571,441
Total Revenue per Form 990
$1,192,411
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$772,322
Other Expenses$308,182
Total Fundraising Expense$60,213
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$490,592$37,200$43,411$571,203
Other Employee Benefits$49,763$20,762$11,242$81,767
Current Officers, Directors, Trustees, and Key Employees-$70,000-$70,000
Payroll Taxes$37,946$8,147$3,259$49,352
Occupancy$20,648$21,563-$42,211
All Other Expenses$16,839$21,554$402$38,795
Office Expenses$8,119$5,925$389$14,433
Other Expenses$167$10,551$416$10,718
Depreciation Depletion$5,690$2,150$600$8,440
Travel-$3,463$494$3,957
Total Functional Expenses$809,642$210,649$60,213$1,080,504

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,102,934
Expenses per Audited Statements$1,080,504
Total Expenses per Form 990$1,080,504
Expenses Not Reported on Form 990$22,430
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$40,003
Fundraising Direct Expenses$22,430
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$66,903$40,003$8,893$31,110
Total Events$66,903$40,003$22,430$17,573
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
Audit committee
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
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, Part VI, Line 11B: Form 990 Review Process

The board is provided a copy of the 990 before it is filed. The 990 is reviewed and discussed in the finance committee. The vice-president of finance then reports on the 990 to the executive committee. At the next board meeting following the executive committee, the vice-president of finance presents the 990 for any discussion or questions and approval by the board.

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

The board of directors is responsible for upholding the by-laws of the mosc. The executive director is responsible for monitoring and enforcing compliance of the policy with staff, musicians and directors per the mosc personnel policies.

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

Compensation for the executive director is determined by the executive committee of the board of directors after the performance review process is completed. The executive committee then presents any changes in compensation to the board for approval which is noted in the minutes of the board meeting.

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

The organization makes its governing documents, policies and financial statements available to the public on a request by request basis.

Filing and Contact Details

Filer

EIN
75-1301544
Phone
4325630921

Signing Officer

Name
Jeannette Kolokoff
Title
Executive Director
Signed
2015-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sue Solari
Formed
1962
Legal Domicile
TX
Voting Board Members
42
Independent Board Members
42
Employees
130
Volunteers
500

Preparer

Preparer
C Marc Martin CPA
Phone
4326850094
Supplemental Narrative

Additional Explanations

Form 990, Part I, Ln 1 - Sig Activities

Each season the mosc performs four masterworks concerts and four pops concerts for which a music director, core musicians, guest artists and per-service musicians are contracted from the area. The instrumental chamber ensembles of the mosc perform educational and entertaining on-campus in-school concerts for elementary students in misd and ecisd and six chamber concerts each season. The core musicians of the mosc also provide private instruction to music students in midland, odessa and surrounding areas as well as performing on a freelance basis for private and community events. The mosc also contracts the services of the chorale director and per-service accompanist for the adult chorale;similarly a youth choir director is contracted for the youth choir with a per-service accompanist. These two choral ensembles perform three chamber concerts as well as collaborations with the symphony and community events.annually, the midland festival ballet contracts the mosc for the live musical accompaniment for its production of the nutcracker. The mosc provides several programs for children including the in-school chamber concerts for elementary students, educational concerts performed at the wagner noel performing arts center for permain basin students, the youth choir for children in grades 5-8, and free tickets for music students to masterworks and chamber concerts.

Financial Statement Notes

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

Earnings on the endowment funds are to be used for operations at the discretion of the board of directors.

Part X : FIN48 Footnote

The symphony has adopted the provisions of fasb asc 740-10-25, which requires that a tax position be recognized or derecognized based on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return. The symphony does not believe its financial statements include any uncertain tax positions.

Part XII, Line 2D: Other expenses and losses per audited F/S

Vintage harmony expenses $22430

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IRS990/Form990PartVIISectionAGrp/PersonNm3MALIA ALBIN
IRS990/Form990PartVIISectionAGrp/PersonNm4SHEILAGH BASSETT
IRS990/Form990PartVIISectionAGrp/PersonNm5CINDY BOBO
IRS990/Form990PartVIISectionAGrp/PersonNm6PENNY ANGELO
IRS990/Form990PartVIISectionAGrp/PersonNm7SCOTT LONG
IRS990/Form990PartVIISectionAGrp/PersonNm8BRAD BULLOCK
IRS990/Form990PartVIISectionAGrp/PersonNm9CAROL CHANDLER
IRS990/Form990PartVIISectionAGrp/PersonNm10REBECCA BELL
IRS990/Form990PartVIISectionAGrp/PersonNm11BILL FEUER
IRS990/Form990PartVIISectionAGrp/PersonNm12BARBARA DAVIS
IRS990/Form990PartVIISectionAGrp/PersonNm13DAWNNA TALLEY
IRS990/Form990PartVIISectionAGrp/PersonNm14LINDA GEORGE
IRS990/Form990PartVIISectionAGrp/PersonNm15JACQUI GORE
IRS990/Form990PartVIISectionAGrp/PersonNm16JANET HUGHES
IRS990/Form990PartVIISectionAGrp/PersonNm17JAY REYNOLDS
IRS990/Form990PartVIISectionAGrp/PersonNm18MIKE WILLSON
IRS990/Form990PartVIISectionAGrp/PersonNm19MARIDELL FRYAR
IRS990/Form990PartVIISectionAGrp/PersonNm20JOANNA HADJICOSTANDI-ANANG
IRS990/Form990PartVIISectionAGrp/PersonNm21DANIEL LOUDENBACK
IRS990/Form990PartVIISectionAGrp/PersonNm22BARBARA FAUBION
IRS990/Form990PartVIISectionAGrp/PersonNm23STEPHANIE LATIMER
IRS990/Form990PartVIISectionAGrp/PersonNm24KATHLEEN CORNWELL
IRS990/Form990PartVIISectionAGrp/PersonNm25GARY LEWIS
IRS990/Form990PartVIISectionAGrp/PersonNm26NASH DOWDLE
IRS990/Form990PartVIISectionAGrp/PersonNm27DALE BROWN
IRS990/Form990PartVIISectionAGrp/PersonNm28DEB SHAW
IRS990/Form990PartVIISectionAGrp/PersonNm29SHARON HUMPHREYS
IRS990/Form990PartVIISectionAGrp/PersonNm30GLORIA ABALOS
IRS990/Form990PartVIISectionAGrp/PersonNm31SUE SOLARI
IRS990/Form990PartVIISectionAGrp/PersonNm32JUDY GLADDEN
IRS990/Form990PartVIISectionAGrp/PersonNm33MELISSA GRAHAM
IRS990/Form990PartVIISectionAGrp/PersonNm34KARMEN BRYANT
IRS990/Form990PartVIISectionAGrp/PersonNm35DR THOMAS HYDE
IRS990/Form990PartVIISectionAGrp/PersonNm36LADOYCE LAMBERT
IRS990/Form990PartVIISectionAGrp/PersonNm37CHARLIE GRIMES
IRS990/Form990PartVIISectionAGrp/PersonNm38ABIGAIL KAUFFMAN
IRS990/Form990PartVIISectionAGrp/PersonNm39DAVID LAURITZEN
IRS990/Form990PartVIISectionAGrp/PersonNm40ANN PARISH
IRS990/Form990PartVIISectionAGrp/PersonNm41JANET POLLARD
IRS990/Form990PartVIISectionAGrp/PersonNm42FLOYD ROUNDTREE
IRS990/Form990PartVIISectionAGrp/PersonNm43TY SUTTON
IRS990/Form990PartVIISectionAGrp/PersonNm44JEANNETTE KOLOKOFF
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt260

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.76$0.05$3.71$1.09$1.38$0.29
2023Detailed filing. Detailed filing data is available for this year.$3.69$0.04$3.65$0.92$1.39$0.47
2022Detailed filing. Detailed filing data is available for this year.$3.86$0.04$3.82$1.07$1.29$0.22
2021Detailed filing. Detailed filing data is available for this year.$4.67$0.14$4.53$1.19$1.11$0.08
2020Detailed filing. Detailed filing data is available for this year.$3.76$0.12$3.64$1.08$1.27$0.19
2019Detailed filing. Detailed filing data is available for this year.$3.88$0.04$3.84$1.13$1.27$0.14
2018Detailed filing. Detailed filing data is available for this year.$3.90$0.03$3.88$1.34$1.24$0.10
2017Detailed filing. Detailed filing data is available for this year.$3.58$0.03$3.55$1.09$1.18$0.09
2016Detailed filing. Detailed filing data is available for this year.$3.41$0.03$3.39$1.11$1.24$0.12
2015Detailed filing. Detailed filing data is available for this year.$3.65$0.03$3.62$1.27$1.13$0.14
2014Detailed filing. Detailed filing data is available for this year.$3.53$0.02$3.51$1.19$1.08$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.06$0.02$3.04$0.99
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.81$0.03$2.78$0.86
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.82$0.03$2.79$0.75