Indiana Symphony Society Inc

Nonprofit profile at a glance

EIN
350998627
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Indianapolis, IN, USA
Phone
3172621100
Rating
76
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Symphony Orchestras

Official website

Reported finances

Revenue
$31,931,692
Expenses
$27,733,970
Assets
$14,009,654
Liabilities
$8,874,201

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

Leadership & pay

46 people listed

Executive titles in this filing

  • James M Johnson (CEO)

Highest reported compensation

  • Jack Everly (Pops Conductor): $303,907 total reported compensation
  • James M Johnson (CEO): $294,416 total reported compensation
  • Kevin Lin (Concertmaster): $292,532 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 Indianapolis Symphony Orchestra inspires and unites our community through our music.

What it reported doing in 2024

The indianapolis symphony orchestra is the largest performing arts organization in the state of Indiana, performing a year-round schedule of concerts and education programs. Each season, the indianapolis symphony orchestra presents a wide repertoire of orchestral music, including commissions of new music, both classical and pops. Concerts include programs of classical music, symphonic pops performances, family oriented programs, holiday programs, uncharted, the outdoor summer series and many more. The indianapolis symphony orchestra is dedicated to leading the field in music education. Symphony musicians and staff create pioneering learning opportunities for participants throughout the state through a variety of projects which impact students and adults in the indianapolis symphony orchestra's learning community. The metropolitan youth orchestra which is a youth and family development program of the learning community uses the life skills learned in music instruction to engage youth in activities that discourage at-risk behaviors and keep them committed to staying in school. The historic hilbert circle theatre on monument circle in downtown indianapolis is home to the indianapolis symphony orchestra and is owned by the orangization's foundation. Outside the theatre, the indianapolis symphony can be heard live in several Indiana communities. As a leading member of the arts community in indianapolis, the indianapolis symphony orchestra collaborates on a regular basis with other arts companies including dance kaleidoscope, the international violin competition of indianapolis, and the american pianists association.

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. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 46
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.2%; rating input score 74
  • Program expense ratio: 84.5%; rating input score 84
  • Fundraising efficiency: $13.45 raised per $1 spent on fundraising; rating input score 47; 47th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Pass
    • Board or committee approval: Missing
  • 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; 66th 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: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.1%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 0.51; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.63; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 6.2%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: -0.7% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 74.2% of revenue deployed · 84.5% of spending went to programs
  • Governance: 31 of 31 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $23.4M in reported program spending
  • Leadership: top reported pay $304K · 46 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $843K reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 8 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
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.