Rockford Symphony Orchestras Inc

Nonprofit profile at a glance

EIN
366109375
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-T 2020
Location
Rockford, IL, USA
Phone
8159650049
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Official website

Reported finances

Revenue
$1,279,237
Expenses
$1,349,421
Assets
$852,457
Liabilities
$305,421

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

Leadership & pay

17 people listed

Executive titles in this filing

  • MICHAEL KIKTA (PRESIDENT)

Highest reported compensation

  • JULIE THOMAS (EXECUTIVE DI): $91,253 total reported compensation

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

Overview

Mission

Symphony orchestra - the orchestras produce a series of concerts each season. The orchestras mission is to enlightem, educate and entertain through symphonic music.

What it reported doing in 2024

Symphony and other related performances

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.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.8%; rating input score 71
  • Program expense ratio: 64.9%; rating input score 65
  • Fundraising efficiency: $28.57 raised per $1 spent on fundraising; rating input score 67; 67th percentile among comparable filings

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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -5.5%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.63; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 0.2% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 0.2% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 7.2% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 70.8% of revenue deployed · 64.9% of spending went to programs
  • Governance: 16 of 16 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $876K in reported program spending
  • Leadership: top reported pay $91K · 17 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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: Operating margin scored 23/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.