2023-02-16T15:58:27-06:00 2022-06-30 420714325 RSM US LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2021-07-01 560556755 NORTH CAROLINA SYMPHONY SOCIETY INC NORT 9197332750 3700 GLENWOOD AVE 130 RALEIGH NC 27612 SANDI MA MACDONALD PRESIDENT & CEO 9197332750 2023-02-11 1 SANDI MA MACDONALD 999009999 AMANDA E WATERHOUSE P02014004 3362724551 2023-02-11 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z SANDI MA MACDONALD 3700 GLENWOOD AVE 130 RALEIGH NC 27612 44128915 0 X NCSYMPHONY.ORG X 1932 NC TO BE NORTH CAROLINA'S STATE ORCHESTRA, AN ORCHESTRA ACHIEVING THE HIGHEST LEVEL OF ARTISTIC QUALITY AND PERFORMANCE STANDARDS, AND EMBRACING ITS DUAL LEGACIES OF STATEWIDE SERVICE AND MUSIC EDUCATION. 55 55 181 175 0 0 11983970 17933198 1392549 2952792 2494823 1355099 1487078 5804 17358420 22246893 0 0 0 0 7694009 9695372 0 0 1273605 2337262 4308959 10031271 14004331 7327149 8242562 26342195 32524457 1549569 3529009 24792626 28995448 X TO BE NORTH CAROLINA'S STATE ORCHESTRA, AN ORCHESTRA ACHIEVING THE HIGHEST LEVEL OF ARTISTIC QUALITY AND PERFORMANCE STANDARDS, AND EMBRACING ITS DUAL LEGACIES OF STATEWIDE SERVICE AND MUSIC EDUCATION. 0 0 10822547 2952792 FOUNDED IN 1932, THE NORTH CAROLINA SYMPHONY (NCS) WAS THE FIRST STATE-SUPPORTED ORCHESTRA IN THE COUNTRY. ITS DUAL MISSION OF STATEWIDE SERVICE & MUSIC EDUCATION CONTINUES TODAY. IT IS THE LARGEST PERFORMING ARTS ORGANIZATION IN NORTH CAROLINA & HAS THE MOST EXTENSIVE EDUCATION PROGRAM OF ANY U.S. ORCHESTRA. ANNUALLY, IT PERFORMS 175 FULL ORCHESTRA CONCERTS, TRAVELS MORE THAN 18,500 MILES, REACHES 98 COUNTIES & PERFORMS FOR 250,000 PEOPLE INCLUDING MORE THAN 55,000 STUDENTS. IN MARCH 2020 & DUE TO THE PANDEMIC, NCS PIVOTED ITS PROGRAMS ONLINE RESULTING IN EXPANDED DELIVERY OF ITS MISSION BEYOND NORTH CAROLINA AND TO NATIONAL AND INTERNATIONAL MARKETS. THE ORCHESTRA RETURNED TO IN-PERSON PROGRAMS IN MAY 2021.GOVERNMENT CAPACITY RESTRICTIONS PREVENTED NCS FROM ACHIEVING $5.2M IN REVENUE IN FY2020. EXPENSES WERE SIGNIFICANTLY CURTAILED INCLUDING VOLUNTARY SALARY REDUCTIONS. EDUCATION SERVICE TO THE STUDENTS OF NORTH CAROLINA CONTINUED VIRTUALLY WITH A SIGNIFICANT FOCUS ON ELEMENTARY SCHOOL STUDENTS. IN FISCAL 2021, THE SYMPHONY CREATED A RECOVERY RESERVE FUND TO OFFSET PROJECTED DECLINES IN FUNDING IN SUBSEQUENT YEARS AS COMPARED TO PRE-PANDEMIC LEVELS OF EARNED AND CONTRIBUTED INCOME. IT IS UNKNOWN HOW LONG THE ADVERSE CONDITIONS ASSOCIATED WITH THE CORONAVIRUS WILL LAST AND WHAT THE COMPLETE FINANCIAL EFFECT WILL BE TO THE SYMPHONY. OPERATING REVENUE INCREASED IN FY2022 BUT IS STILL BELOW PRE-PANDEMIC LEVELS. 10822547 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 65 0 1 181 1 0 0 0 0 0 0 0 0 0 0 0 0 X 55 55 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X ROBERT SCHILLER 9197332750 3700 GLENWOOD AVE 130 RALEIGH NC 27612 MR DON DAVIS CHAIR 5.00 1.00 X X 0 0 0 DR WM CHARLES HELTON VICE CHAIR 3.00 X X 0 0 0 MR JOSEPH C BASTIAN TREASURER 3.00 X X 0 0 0 MR TERRY L STEVENS ASSISTANT TREASURER 3.00 X X 0 0 0 MRS ASHLEY MATLOCK PERKINSON SECRETARY 3.00 X X 0 0 0 DEBORAH M AIKEN MEMBER 1.00 X 0 0 0 DR TIMOTHY ALTMAN MEMBER 1.00 X 0 0 0 DR TRUE R BATE MEMBER 1.00 X 0 0 0 DENISE BENNETT MEMBER 1.00 X 0 0 0 JANIE BIRD MEMBER 1.00 X 0 0 0 JUD BOWMAN MEMBER 1.00 X 0 0 0 PATTY BRIGUGLIO MEMBER 1.00 X 0 0 0 STEPHEN W BURRISS MEMBER 1.00 X 0 0 0 TIM CLANCY MEMBER 1.00 X 0 0 0 THE HONORABLE ROY COOPER MEMBER 1.00 X 0 0 0 JEFFREY CORBETT MEMBER 1.00 X 0 0 0 JIM DATIN MEMBER 1.00 X 0 0 0 RICHARD L DAUGHERTY MEMBER 1.00 1.00 X 0 0 0 KEITH DONAHUE MEMBER 1.00 X 0 0 0 ROBERT N EBY MEMBER 1.00 X 0 0 0 RICK GARDNER MEMBER 1.00 X 0 0 0 MICHAEL GERING MEMBER 1.00 X 0 0 0 MICHAEL GOLDEN MEMBER 1.00 X 0 0 0 DONALD A HAILE MEMBER 1.00 X 0 0 0 DAVID L HAINES MEMBER 1.00 X 0 0 0 ELAINE BRYANT HAYES MEMBER 1.00 X 0 0 0 RICHARD EDWARD HINSON MEMBER 1.00 X 0 0 0 KEVIN HOWELL MEMBER 1.00 X 0 0 0 L DWAIN JOYCE MEMBER 1.00 X 0 0 0 CECELIA ECKERT KENNEDY MEMBER 1.00 X 0 0 0 ROSEMARY KENYON MEMBER 1.00 X 0 0 0 ROBERT LACIN MEMBER 1.00 X 0 0 0 ROBERT MACNEILL JR MEMBER 1.00 X 0 0 0 JANE MARR MEMBER 1.00 X 0 0 0 BRANFORD MARSALIS MEMBER 1.00 X 0 0 0 DR ASSAD MEYMANDI MEMBER 1.00 X 0 0 0 LOUISE A MILLER MEMBER 1.00 X 0 0 0 VIRGINIA MINICHIELLO MEMBER 1.00 X 0 0 0 JAMES MORGAN MEMBER 1.00 X 0 0 0 FLORENCE PEACOCK MEMBER 1.00 X 0 0 0 EMILY MANN PECK MEMBER 1.00 X 0 0 0 MARGARET SMEDES POYNER MEMBER 1.00 X 0 0 0 DR RAMACHANDRA P REDDY MEMBER 1.00 X 0 0 0 DONNA RHODE MEMBER 1.00 X 0 0 0 JASON SMITH MEMBER 1.00 X 0 0 0 TRACEY FODOR SMITH MEMBER 1.00 X 0 0 0 DAVID SONTAG MEMBER 1.00 X 0 0 0 LINDA J STAUNCH MEMBER 1.00 X 0 0 0 M GRAY STYERS JR MEMBER 1.00 X 0 0 0 SANDY SULLY MEMBER 1.00 X 0 0 0 THE HONORABLE CATHERINE TRUITT MEMBER 1.00 X 0 0 0 JENNIE H WALLACE MEMBER 1.00 X 0 0 0 DERECK WHITTENBURG MEMBER 1.00 X 0 0 0 D REID WILSON MEMBER 1.00 X 0 0 0 TIM YULL MEMBER 1.00 X 0 0 0 SANDI MA MACDONALD PRESIDENT & CEO 55.00 5.00 X 282682 0 31011 ROBERT SCHILLER SR. VP FINANCE AND CFO 55.00 5.00 X 170936 0 6283 LISA RANSOM VP OF PHILANTHROPY 50.00 X 143380 0 13530 LINDA CHARLTON VP MARKETING & AUDIENCE DEVELOPMENT 50.00 X 108290 0 27676 BRIAN REAGAN MUSICIAN 40.00 X 117735 0 26685 DONALD TIPPETT VP ORCHESTRA OPERATIONS 50.00 X 101923 0 14851 924946 0 120036 6 0 1 0 0 875781 12889554 4167863 17933198 CONCERT REVENUE 711190 2846877 2846877 EDUCATION 711190 66375 66375 PROGRAM PROCESSING FEES 711190 39540 39540 2952792 283040 283040 22954081 21882022 1072059 1072059 1072059 MISCELLANEOUS 900099 5804 5804 5804 22246893 2952792 0 1360903 1215020 424242 406991 383787 6446246 5617214 662152 166880 408751 315407 90689 2655 1055689 939417 61675 54597 569666 443927 98217 27522 895554 362793 186571 346190 60880 60880 53091 53091 24718 24718 249556 56022 56987 136547 532787 525248 7539 114600 24831 40435 49334 6465 3785 920 1760 313136 143149 104450 65537 158036 145732 2984 9320 79598 22700 34961 21937 42287 28288 13999 GUEST ARTISTS 918308 918308 CONCERT PRODUCTION 585191 576732 8459 BOX OFFICE 134100 134100 140652 140652 14004331 10822547 1908179 1273605 4150417 9477982 1914350 1550464 1011840 941012 992876 42152 199801 312250 1261407 1008375 141261 253032 17836501 18365393 95149 1582172 26342195 32524457 428934 716352 987896 1187465 9783 0 122956 1625192 1549569 3529009 X 7821364 15072132 16971262 13923316 24792626 28995448 26342195 32524457 8242562 -4039740 0 X 0 1 X 1 1 1 X 9980403 21107460 10385062 11983970 17933198 71390093 499674 443473 435854 317369 660580 2356950 10480077 21550933 10820916 12301339 18593778 73747043 8516688 65230355 161718 351639 420336 387637 283040 1604370 171964 55410 11154 1487078 5804 1731410 77082823 17921659 0.84620 0.82470 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2017 AMOUNT: $ 7,339. 2018 AMOUNT: $ 5,328. 2019 AMOUNT: $ 11,154. 2020 AMOUNT: $ 1,625. 2021 AMOUNT: $ 5,804. FUNDRAISING REV - 2017 AMOUNT: $ 164,625. 2018 AMOUNT: $ 50,082. EMPLOYEE RETENTION CREDIT - 2020 AMOUNT: $ 1,485,453. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 53091 0 0 53091 0 PART II-B, LINE 1: THE NORTH CAROLINA SYMPHONY IS A MEMBER OF ARTS NORTH CAROLINA WHICH IS A 501(C)(3) TAX EXEMPT ORGANIZATION. OUR DUES WERE $3,000 FOR FY2022 AND A PORTION OF THIS WILL GO TOWARD LOBBYING. OUR STAFF IS INVOLVED IN THE LEGISLATIVE BUDGET PROCESS EACH YEAR DUE TO STATE FUNDING AND IN-KIND FUNDS RECEIVED FROM THE STATE OF NORTH CAROLINA DEPARTMENT OF NATURAL AND CULTURAL RESOURCES. OUR PRESIDENT SERVES AS A DIVISION DIRECTOR WITHIN THE DEPARTMENT OF NATURAL AND CULTURAL RESOURCES. OUR BOARD OF DIRECTORS IS INVOLVED IN INDIVIDUAL EFFORTS TO MAINTAIN OUR STATE SUPPORT. DURING THE 2022 FISCAL YEAR, THE SYMPHONY ALSO ACTIVELY SOUGHT CITY, COUNTY AND FEDERAL GRANTS TO SUPPORT OUR PROGRAMS. WE ALSO RECEIVE IN-KIND SUPPORT FROM THE CITY OF RALEIGH FOR THE USE OF FACILITIES. IN TERMS OF NATIONAL ISSUES, WE ARE A MEMBER OF THE LEAGUE OF AMERICAN ORCHESTRAS TO WHICH WE PAID ANNUAL DUES OF $15,196. AMONG THEIR ACTIVITIES IS GOVERNMENTAL AFFAIRS AND LOBBYING FOR ISSUES RELATED TO THE ARTS. THE LEAGUE OF AMERICAN ORCHESTRAS SPENDS 2% ON LOBBYING EFFORTS THE NORTH CAROLINA SYMPHONY SPENT A TOTAL OF $53,091 ON DIRECT LOBBYING EXPENSES IN FY2022. NO PUBLIC FUNDING WAS USED FOR THESE EXPENSES. 17755062 1000000 -2476756 721166 23077 15534063 14547838 3899910 670797 21880 17755071 14581729 653746 667006 20631 14547838 3894047 10000000 1214267 510607 15979 14581728 3920259 10634 291753 189545 4033101 0.18200 0.64400 0.17400 0 1 1 87726 87726 0 859891 709260 150631 313790 211389 102401 253032 INTERCOMPANY PAYABLE 105559 OBLIGATIONS UNDER SPLIT-INTEREST AGREEMENTS 27553 LEASE OBLIGATIONS 1492080 1625192 X 18904225 -4039740 721790 -3317950 22222175 24718 24718 22246893 14701403 721790 721790 13979613 24718 24718 14004331 PART V, LINE 4: THE PURPOSE OF THE ENDOWMENT FUNDS IS TO PROVIDE SUPPORT TO THE SOCIETY. THE ENDOWMENT FUNDS OF BOTH THE NORTH CAROLINA SYMPHONY SOCIETY, INC. AND THE NORTH CAROLINA SYMPHONY FOUNDATION ARE MANAGED BY AN INVESTMENT COMMITTEE, COMPRISED OF MEMBERS OF BOTH ORGANIZATIONS' BOARDS. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE: MANAGEMENT HAS EVALUATED THE SYMPHONY'S TAX POSITIONS AND CONCLUDED THAT THE SYMPHONY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ASC. X X X X X 0 0 0 0 0 0 0 0 0 SANDI MA MACDONALD PRESIDENT & CEO 237607 0 45000 0 75 0 4675 0 26336 0 313693 0 0 0 ROBERT SCHILLER SR. VP FINANCE AND CFO 146586 0 24322 0 28 0 2919 0 3364 0 177219 0 0 0 LISA RANSOM VP OF PHILANTHROPY 123056 0 20296 0 28 0 2436 0 11094 0 156910 0 0 0 FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNOR OF THE STATE OF NC APPOINTS FOUR TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE AND THE FULL BOARD REVIEW THE ENTIRE FORM 990. SCHEDULE B IS REDACTED SINCE SOME DONORS REQUEST TO REMAIN ANONYMOUS. FORM 990, PART VI, SECTION B, LINE 12C THE NORTH CAROLINA SYMPHONY HAS A CONFLICT OF INTEREST POLICY WHICH ALL TRUSTEES AND EMPLOYEES ARE REQUIRED TO COMPLETE. FORM 990, PART VI, SECTION B, LINE 15 INDUSTRY SALARY SURVEYS ARE USED TO DETERMINE SALARIES, AND COMPENSATION WAS ESTABLISHED BY AN INDEPENDENT CONSULTANT. CEO AND MUSIC DIRECTOR SALARIES ARE REVIEWED AND APPROVED BY A COMMITTEE OF THE BOARD. THE COMPENSATION ARRANGEMENT IS DOCUMENTED WHEN DECIDED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). NORTH CAROLINA SYMPHONY FOUNDATION 3700 GLENWOOD AVENUE STE 130 RALEIGH NC 27612 581495066 HOLD SOCIETY'S ENDOWMENT, SOLICIT ADDITIONS,& PROTECT ASSETS NC 501(C)(3) LINE 12A, I NC SYMPHONY SOCIETY 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 NC SYMPHONY FOUNDATION INC C 875781 CASH NC SYMPHONY FOUNDATION INC D 117824 CASH NC SYMPHONY FOUNDATION INC E 105559 CASH