Civic Intelligence

Midland Odessa Symphony and Chorale Inc.

990 • Fiscal year 2017 • EIN 75-1301544

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 26, 2018

P O Box 60658Midland, TX 79711

(432) 563-0921

Siviq Scores

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

Liabilities / Assets

24th percentile

0.01x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

28th percentile

0.02x

Higher debt load relative to revenue than 28% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

22nd percentile

-8.7%

Higher net margin than 22% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

55th percentile

$73,000

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

55th percentile

4.8%

Faster asset growth than 55% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

32nd percentile

-2.3%

Faster revenue growth than 32% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$3,577,127

Up $163,138 (+4.8%) from 2016

Net Assets

Up

$3,550,946

Up $165,009 (+4.9%) from 2016

Liabilities

Down

$26,181

Down $1,871 (-6.7%) from 2016

Revenue

Down

$1,088,335

Down $25,089 (-2.3%) from 2016

Expenses

Down

$1,183,096

Down $55,190 (-4.5%) from 2016

Net Income

Up

-$94,761

Up $30,101 (+24%) from 2016

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

2017

Assets$3,577,127
Liabilities$26,181
Net Assets$3,550,946

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

2017

Revenue$1,088,335
Expenses$1,183,096
Net Income-$94,761
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 26, 2018
Return Version
2016v3.0
Gross Receipts
$1,129,054
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$1,495,942$1,545,462▲ $49,520
Investments in Publicly Traded Securities$1,149,402$1,226,412▲ $77,010
Cash and Non-Interest-Bearing Accounts$488,479$535,264▲ $46,785
Land, Buildings, and Equipment, Net$241,700$216,734▼ $24,966
Prepaid Expenses and Deferred Charges$20,441$27,705▲ $7,264
Accounts Receivable$18,025$25,550▲ $7,525
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$3,413,989$3,577,127▲ $163,138
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$28,052$26,181▼ $1,871
Total Liabilities$28,052$26,181▼ $1,871
Net Assets / Fund Balance
Unrestricted Net Assets$1,636,261$1,714,806▲ $78,545
Permanently Rstr Net Assets$1,376,795$1,379,380▲ $2,585
Temporarily Rstr Net Assets$372,881$456,760▲ $83,879
Total Net Assets Fund Balance$3,385,937$3,550,946▲ $165,009
Total Liabilities and Net Assets / Fund Balance$3,413,989$3,577,127▲ $163,138

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$184,383$301,263$485,646
Buildings$31,351$110,528$141,879
Other Land Buildings-$16,000$16,000
Land$1,000-$1,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$2,645,344$2,585▲ $258,935$134,990$2,771,874
2015$2,850,539$13,767▼ $83,477$135,485$2,645,344
2014$2,926,417$14,841▲ $39,608$130,327$2,850,539
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Susan J KolokoffExecutive DirectorFT$73,000$73,000
Gary LewisMusic DirectorPT$58,056$58,056

Board Members and Trustees

NameTitle
Brad BullockPast President
Jay ReynoldsPresident
Barbara FaubionDirector
Betty Ann PrenticeDirector
Carolina KiethDirector
Connie MayDirector
Dana AshtonDirector
David SutterDirector
Dee CarterDirector
Dr ANNE ACREMANDirector
Dr Thomas HydeDirector
Edward McphersonDirector
Floyd RountreeDirector
Janet PollardDirector
John BarkleyDirector
Kathleen RectorDirector
Ladoyce LambertDirector
Linda GeorgeDirector
Ludie WarnerDirector
Lura KirklandDirector
Maridell FryarDirector
Mark GermerDirector
Melissa RowlandDirector
Mike WillsonDirector
Nash DowdleDirector
Pat CantyDirector
Paul FeitDirector
Penny AngeloDirector
Sheilagh BassettDirector
Suzanne RathbunDirector
Thomas ElrodDirector
Mark LyonEcisd Rep
Carol ChandlerExecutive VP
Deb ShawMisd Rep
Ann ParishSecretary
Rebecca YoungVP Finance
David LauritzenVP Fundraising
Scott LongVP Sponsorships
Jane KnoxWnpac Gm
Revenue and Support

Revenue Composition

Contributions and Grants
$628,842
Program Service Revenue
$369,072
Investment Income
$56,704
Other Revenue
$33,717
All Other Contributions
$609,842
Change in Net Assets
$-94,761

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,129,054
Revenue Not Reported on Financial Statements
$-40,719
Revenue Not Reported on Form 990
$259,770
Other Revenue Adjustments
$-40,719
Total Revenue per Audited Statements
$1,388,824
Total Revenue per Form 990
$1,088,335
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$828,617
Other Expenses$354,479
Total Fundraising Expense$68,820
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$504,933$43,921$48,499$597,353
Other Employee Benefits$61,575$32,799$10,942$105,316
Current Officers, Directors, Trustees, and Key Employees-$73,000-$73,000
Payroll Taxes$39,986$9,187$3,775$52,948
Other Expenses$9,724$27,826$1,701$37,550
All Other Expenses$17,913$18,662$425$37,000
Depreciation Depletion$25,300$2,150$600$28,050
Fees for Services Other-$15,738$2,704$18,442
Office Expenses$3,529$2,822$174$6,525
Travel-$365-$365
Total Functional Expenses$882,384$231,892$68,820$1,183,096

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,223,815
Expenses per Audited Statements$1,183,096
Total Expenses per Form 990$1,183,096
Expenses Not Reported on Form 990$40,719
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$74,436
Fundraising Direct Expenses$40,719
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Fundraiser$93,436$74,436$13,739$60,697
Total Events$93,436$74,436$40,719$33,717
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

Filer Name
Midland-odessa Symphony & Chorale Inc
EIN
75-1301544
Phone
4325630921
Address
P O BOX 60658, MIDLAND, TX 79711

Signing Officer

Name
Jeannette Kolokoff
Title
Executive Director
Signed
2018-02-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeannette Kolokoff
Formed
1962
Legal Domicile
TX
Voting Board Members
39
Independent Board Members
39
Employees
143
Volunteers
30

Preparer

Firm
C Marc Martin CPA
Address
PO Box 1775, Midland, TX 79702-1775
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. 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

Annual fundraising expenses $40719

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IRS990/Form990PartVIISectionAGrp/PersonNm3CONNIE MAY
IRS990/Form990PartVIISectionAGrp/PersonNm4SHEILAGH BASSETT
IRS990/Form990PartVIISectionAGrp/PersonNm5MARK GERMER
IRS990/Form990PartVIISectionAGrp/PersonNm6PENNY ANGELO
IRS990/Form990PartVIISectionAGrp/PersonNm7GARY LEWIS
IRS990/Form990PartVIISectionAGrp/PersonNm8BRAD BULLOCK
IRS990/Form990PartVIISectionAGrp/PersonNm9CAROL CHANDLER
IRS990/Form990PartVIISectionAGrp/PersonNm10Dr ANNE ACREMAN
IRS990/Form990PartVIISectionAGrp/PersonNm11DEE CARTER
IRS990/Form990PartVIISectionAGrp/PersonNm12THOMAS ELROD
IRS990/Form990PartVIISectionAGrp/PersonNm13SCOTT LONG
IRS990/Form990PartVIISectionAGrp/PersonNm14LINDA GEORGE
IRS990/Form990PartVIISectionAGrp/PersonNm15JAY REYNOLDS
IRS990/Form990PartVIISectionAGrp/PersonNm16MIKE WILLSON
IRS990/Form990PartVIISectionAGrp/PersonNm17MARIDELL FRYAR
IRS990/Form990PartVIISectionAGrp/PersonNm18MARK LYON
IRS990/Form990PartVIISectionAGrp/PersonNm19BARBARA FAUBION
IRS990/Form990PartVIISectionAGrp/PersonNm20EDWARD MCPHERSON
IRS990/Form990PartVIISectionAGrp/PersonNm21KATHLEEN RECTOR
IRS990/Form990PartVIISectionAGrp/PersonNm22LUDIE WARNER
IRS990/Form990PartVIISectionAGrp/PersonNm23NASH DOWDLE
IRS990/Form990PartVIISectionAGrp/PersonNm24PAT CANTY
IRS990/Form990PartVIISectionAGrp/PersonNm25DEB SHAW
IRS990/Form990PartVIISectionAGrp/PersonNm26REBECCA YOUNG
IRS990/Form990PartVIISectionAGrp/PersonNm27DAVID SUTTER
IRS990/Form990PartVIISectionAGrp/PersonNm28CAROLINA KIETH
IRS990/Form990PartVIISectionAGrp/PersonNm29LURA KIRKLAND
IRS990/Form990PartVIISectionAGrp/PersonNm30DR THOMAS HYDE
IRS990/Form990PartVIISectionAGrp/PersonNm31LADOYCE LAMBERT
IRS990/Form990PartVIISectionAGrp/PersonNm32SUZANNE RATHBUN
IRS990/Form990PartVIISectionAGrp/PersonNm33MELISSA ROWLAND
IRS990/Form990PartVIISectionAGrp/PersonNm34DAVID LAURITZEN
IRS990/Form990PartVIISectionAGrp/PersonNm35ANN PARISH
IRS990/Form990PartVIISectionAGrp/PersonNm36JANET POLLARD
IRS990/Form990PartVIISectionAGrp/PersonNm37FLOYD ROUNTREE
IRS990/Form990PartVIISectionAGrp/PersonNm38JANE KNOX
IRS990/Form990PartVIISectionAGrp/PersonNm39BETTY ANN PRENTICE
IRS990/Form990PartVIISectionAGrp/PersonNm40SUSAN J KOLOKOFF
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt350
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt360
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt390
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt400
IRS990/Form990PartVIISectionAGrp/TitleTxt0Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director

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