Fort Worth Symphony Orchestra Association
Nonprofit profile at a glance
- EIN
- 756004761
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Fort Worth, TX, USA
- Phone
- 8176656500
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Symphony Orchestras
Reported finances
- Revenue
- $12,380,717
- Expenses
- $16,108,991
- Assets
- $37,913,229
- Liabilities
- $5,195,350
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
89 people listed
Executive titles in this filing
- KEITH CERNY (PRESIDENT & CEO)
Highest reported compensation
- ROBERT SPANO (MUSIC DIRECTOR): $326,741 total reported compensation
- KEITH CERNY (PRESIDENT & CEO): $324,372 total reported compensation
- CARRIE ELLEN ADAMIAN (CHIEF MARKETING OFFICER): $168,037 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule o-to perform great symphonic music at the highest level of artistic excellence to educate, entertain, and enhance cultural life.-to present engaging music education programs for young people to foster early interest in and inspire lifelong enjoyment of music. -to achieve ever-greater levels of artistic accomplishment and leadership in fort worth and across the nation.
What it reported doing in 2024
Education concerts - we performed 21 education concerts across north Texas, reaching an audience of 14,500 students and families. School districts engaged include fort worth isd, weatherford isd, birdville isd, h-e-b isd, northwest isd, arlington isd, frisco isd, and keller isd. Performances provided students with interactive musical experiences that foster community connection and artistic appreciation. Community concerts and events - we produced 8 community performances and events across tarrant county that engaged approximately 4,300 adults and children, including community members from historically under-represented groups. Providing the community with meaningful outreach events helped to uplift, educate, and (cont. On sch. O) inspire people of various backgrounds while enriching the county's broader arts and culture sector.
Operating model
- Revenue model
- Donor-supported. 64% of the money available for current operations came from contributions and gifts.
- 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 84
- Accountability: 93
- Sustainability: 32
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 99.9%; rating input score 100
- Program expense ratio: 76.8%; rating input score 77
- Fundraising efficiency: $6.23 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- 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: 96.2%; rating input score 96; 30th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -30.1%; rating input score 3; 3rd percentile among comparable filings
- Total-asset coverage ratio: 2.35; rating input score 67; 67th percentile among comparable filings
- Liabilities to assets ratio: 0.14; rating input score 68; 68th percentile among comparable filings
- Officer compensation ratio: 8.5%; rating input score 27; 27th percentile among comparable filings
Growth
- Program expense growth: 2.7% per year; rating input score 100; 23rd percentile among comparable filings
- Revenue growth: 1.4% per year; rating input score 100; 14th percentile among comparable filings
- Asset growth: 2.3% per year; rating input score 100; 19th percentile among comparable filings
Details
- Where the money goes: 99.9% of revenue deployed · 76.8% of spending went to programs
- Governance: 75 of 78 board members independent · 8 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $12.4M in reported program spending
- Leadership: top reported pay $327K · 89 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $967K reported
- Consistency: 34 of 34 current checks pass
- Schedules: 7 filed schedules · includes major donors and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 8 filed money-flow records
- 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 — Financial Efficiency: Fundraising efficiency scored 25/100.
- High — Sustainability: Operating margin scored 3/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Officer compensation ratio scored 27/100.