Tennessee Philharmonic Symphony Orchestra Association, Inc.
Fiscal Year
Fiscal Year Start
05/01/2023
Fiscal Year End
04/30/2024
Projected Revenue
$175,000.00
Projected Expenses
$174,000.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| IRS Letter of Determination | 2004 |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $227,344.00 | $147,585.00 | $101,622.00 |
| Total Expenses | $223,477.00 | $165,381.00 | $88,002.00 |
| Revenue Less Expenses | $3,867.00 | ($17,796.00) | $13,620.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $62,000.00 | $0.00 | $77,750.00 |
| Contributions, Gifts, and Grants | $128,127.00 | $116,408.00 | $11,934.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $37,014.00 | $31,177.00 | $893.00 |
| Investment Income, Net of Losses | $0.00 | $0.00 | $0.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $0.00 | $2,167.00 |
| Revenue In-Kind | $0.00 | $0.00 | $0.00 |
| Other | $203.00 | $0.00 | $8,878.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $130,355.00 | $86,776.00 | $34,989.00 |
| Administration Expense | $93,122.00 | $165,381.00 | $47,247.00 |
| Fundraising Expense | $0.00 | $0.00 | $5,766.00 |
| Total Revenue/Total Expenses | 102% | 59% | 115% |
| Program Expense/Total Expenses | 58% | 34% | 40% |
| Fundraising Expense/Contributed Revenue | 0% | 0% | 7% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $128,127.00 | Contributions, Gifts, and Grants $116,408.00 | Government Grants $77,750.00 |
| Second Highest Funding Source & Dollar Amount | Government Grants $62,000.00 | Program Revenue $31,177.00 | Contributions, Gifts, and Grants $11,934.00 |
| Third Highest Funding Source & Dollar Amount | Program Revenue $37,014.00 | $0.00 | Other Income $8,878.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $12,877.00 | $8,352.00 | $16,560.00 |
| Current Assets | $12,877.00 | $8,352.00 | $16,560.00 |
| Long-Term Liabilities | $10,000.00 | $0.00 | $0.00 |
| Current Liabilities | $1,352.00 | $10,694.00 | $1,106.00 |
| Total Net Assets | $1,525.00 | $-2,342.00 | $15,454.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
Yes
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
October
Permit Expiration Year
2024
Solicitations Permit
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| Even though we still face daily financial challenges, we see the TPO moving in a positive direction. We have seen a significant increase in concert attendance and public awareness of the TPO this season which tells us that there is still a need and desire to have the TPO in our community. We have a strong, dedicated board of directors that is committed to doing everything they can to see the TPO thrive and grow. We have several new fundraisers planned for next season and are looking into new grant opportunities. We feel with all this that the TPO is looking at a much stronger financial future. |
Foundation Staff Comments
| Financials taken from the financial review. Financials prepared by Jobe ,Hastings & Associates, CPA. Comments provided by Hayley Sulfridge 11/16/23. |
