Bangor Symphony Orchestra

Overview

Mission

The bangor symphony orchestra provides powerful, enriching and diverse musical experiences through live concert performances and education programs of the highest quality.

What it reported doing in 2024

Concerts - the bso produces live classical music performances for over 10,000 attendees from throughout central Maine. The bso produces multiple classical music concerts, a pops concert, educational concerts for young people.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
010024645
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Headquarters
Bangor, ME, USA
Phone
2079425555
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Symphony Orchestras

Official website

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.5%; rating input score 69
  • Program expense ratio: 72.1%; rating input score 72
  • Fundraising efficiency: $3.89 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7.8%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 4.08; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 8%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 8.4% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 69.5% of revenue deployed · 72.1% of spending went to programs
  • Governance: 17 of 17 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $778K in reported program spending
  • Leadership: top reported pay $86K · 18 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 15 annual filings from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

18 people listed

Highest reported compensation

  • RENIA SHTERENBERG (EXECUTIVE DIRECTOR): $86,000 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.