Miami Symphony Orchestra Inc

Nonprofit profile at a glance

EIN
650165057
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Miami, FL, USA
Phone
3052755666
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$1,847,962
Expenses
$2,000,598
Assets
$36,883
Liabilities
$3,380,985

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

Leadership & pay

18 people listed

People named in this filing

  • EDUARDO SARASOLA (TREASURER)
  • EDUARDO MARTURET (MUSIC DIRECTOR AND CONDUCTOR)
  • RAFAEL DIAZ-BALART (CHAIRMAN EMERITUS)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The miami symphony orchestra (miso), in its 36th season, is a cultural cornerstone of south Florida. Its mission is to inspire, educate, and unite the community through world-class orchestral performances and music education that make classical music accesible to all audiences.

What it reported doing in 2024

Beyond its mainstage season, miso extended orchestral music to the broader public throught free community concerts and through privately contracted performances. Free public presentations during the fiscal year included: the holiday lighting concert on flagler street in downtown miami, the christmas celebration at downtown doral park, family day at aragon an the coral gables museum, let freedom ring at the miami design district, miso at doral central park, the welcome summer solstice concerts at the botanical garden and the miso chamber music summer series at the coral gable museum. Miso also performed...privately contracted concerts for public and private clients during the year, the fees for which are reported as contract revenue in part viii. The estimate attendance was of 9,600 including digital attendance.

Operating model

Revenue model
Donor-supported. 66% 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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 92
  • Accountability: 66
  • Sustainability: 19
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.9%; rating input score 99
  • Program expense ratio: 91.3%; rating input score 91
  • Fundraising efficiency: Limited

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: 83.3%; rating input score 83; 19th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -8.3%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 91.67; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 0% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 98.9% of revenue deployed · 91.3% of spending went to programs
  • Governance: 15 of 18 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $1.8M in reported program spending
  • Leadership: top reported pay $0 · 18 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.