North Carolina Symphony Society Inc

Nonprofit profile at a glance

EIN
560556755
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9197332750
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Symphony Orchestras

Reported finances

Revenue
$18,580,670
Expenses
$19,365,541
Assets
$37,405,055
Liabilities
$3,517,624

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

Leadership & pay

64 people listed

Executive titles in this filing

  • SANDI MA MACDONALD (PRESIDENT & CEO)

Highest reported compensation

  • SANDI MA MACDONALD (PRESIDENT & CEO): $435,502 total reported compensation
  • CARLOS PRIETO (MUSIC DIRECTOR): $371,253 total reported compensation
  • ROBERT SCHILLER (SR. VP, FINANCE & CFO): $243,810 total reported compensation

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

Overview

Mission

To be North Carolina's state orchestra, an orchestra achieving the highest level of artistic quality and performance standards, and embracing its dual legacies of statewide service and music education.

What it reported doing in 2024

Founded in 1932, the North Carolina symphony (ncs) was the first state-supported orchestra in the country. Its dual mission of statewide service and music education continues today. It is the largest performing arts organization in North Carolina and has the most extensive education program of any u.s. Orchestra. Annually, the symphony travels more than 18,000 miles, reaches 100 counties and performs for 250,000 people including serving more than 150,000 students.

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

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 the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 84
  • Accountability: 95
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.8%; rating input score 88
  • Program expense ratio: 81.1%; rating input score 81
  • Fundraising efficiency: $7.35 raised per $1 spent on fundraising; rating input score 30; 30th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 95.2%; rating input score 95; 25th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 48.9%; rating input score 49; 11th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

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: 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: -4.2%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 1.93; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 9.8%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 2.6% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 2.7% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 17.9% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 87.8% of revenue deployed · 81.1% of spending went to programs
  • Governance: 49 of 49 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $15.7M in reported program spending
  • Leadership: top reported pay $436K · 64 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $804K reported
  • Consistency: 44 of 45 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 4 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 30/100.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 49/100.
  • High — Sustainability: Operating margin scored 18/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.