The Richmond Symphony Foundation

Nonprofit profile at a glance

EIN
541514987
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Richmond, VA, USA
Phone
8047884717
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$599,738
Expenses
$1,250,059
Assets
$24,794,153
Liabilities
$13,634

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

Leadership & pay

19 people listed

Executive titles in this filing

  • RANDALL S PARKS (VICE PRESIDENT)
  • ANN T BURKS (PRESIDENT)
  • GEORGE Y WHEELER III (IMMEDIATE PAST PRESIDENT)

People named in this filing

  • DAVID BRADLEY (TRUSTEE)
  • J ALFRED BROADDUS JR (TRUSTEE)
  • ELIZABETH CABELL JENNINGS (TRUSTEE)

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

To support the richmond symphony.

What it reported doing in 2024

The foundation was organized for the purposes of soliciting, receiving and administering gifts, grants, and contributions for the benefit of the richmond symphony (a 501(c)3 organization).

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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: 82
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 48
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 75.5%; rating input score 75
  • Fundraising efficiency: $3.98 raised per $1 spent on fundraising; rating input score 13; 13th 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: 100%; rating input score 100; 76th percentile among comparable filings
  • 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: 7 of 7 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -108.4%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 19.83; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 5.7% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: -5.3% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 6.1% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 75.5% of spending went to programs
  • Governance: 19 of 19 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $943K in reported program spending
  • Leadership: top reported pay $0 · 19 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

  • High — Financial Efficiency: Fundraising efficiency scored 13/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.