Des Moines Symphony Association

Nonprofit profile at a glance

EIN
426058830
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Des Moines, IA, USA
Phone
5152804000
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Symphony Orchestras

Official website

Reported finances

Revenue
$5,111,461
Expenses
$3,983,606
Assets
$23,000,326
Liabilities
$971,300

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • BARBARA BEATTY MD (PRESIDENT)
  • REBECCA L YOUNG (VICE PRESIDENT/PRESIDENT E)
  • RICHARD L EARLY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JOSEPH GIUNTA (MUSIC DIRECTOR): $305,382 total reported compensation
  • RICHARD L EARLY (EXECUTIVE DIRECTOR): $167,062 total reported compensation
  • SCOTT WYCKOFF (DIRECTOR OF FINANCE): $132,609 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The des moines symphony is a not-for-profit, professional orchestra formed in 1937 to enrich, educate, and inspire the community by performing great orchestral music. The symphony association, governed by a volunteer board of trustees and operating on an annual budget of more than 4.2 million, supports the symphony academy and its numerous music education programs including four youth orchestras and a youth wind ensemble. The association also supports the des moines symphony orchestra which performs seven pairs of masterworks concerts, a summer season of free outdoor concerts at the lauridsen amphitheater in water works park, a regular season pops series including the traditional new year's eve pops, and education, outreach, and family concerts. The des moines symphony also produces and performs the annual yankee doodle pops concert in july on the ground of the Iowa state capital.

What it reported doing in 2024

Concert performancesthe des moines symphony association performs seven pairs of masterworks concerts, as well as education and family concerts, and both a regular season and summer season pops series which draws audience members from throughout Iowa.

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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.5%; rating input score 63
  • Program expense ratio: 81.5%; rating input score 81
  • Fundraising efficiency: $20.64 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 22.1%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 5.77; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 15.2%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: 10.2% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 63.5% of revenue deployed · 81.5% of spending went to programs
  • Governance: 22 of 22 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $3.2M in reported program spending
  • Leadership: top reported pay $305K · 25 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Officer compensation ratio scored 18/100.