Utah Symphony | Utah Opera

What it reported doing in 2024

Code 711130 SYMPHONIC CONCERTS - The Utah Symphony was founded during the Great Depression as a Works Progress Administration orchestra under Roosevelt's New Deal. Today, the Utah Symphony is the premiere orchestra in the Intermountain West and one of only sixteen year-round orchestras in the nation. This ranking compares favorably to Utah's rank of 30th among states in population size. The Utah Symphony presented 80 in-person concerts at Abravanel Hall and in communities throughout Utah, reaching approximately 157,300 audience members during the season. A variety of programs are offered featuring some of the industry's most illustrious artists in performance with the Utah Symphony in programs ranging from Classical Symphonies, to Jazz, to Pops. Please see utahsymphony.org for more information. The Utah Symphony | Utah Opera's Education Program benefits Utah's children and is one of the largest in the country, reaching approximately 52,000 students and 2,300 teachers during the fiscal year. Through our education program offerings, each school district in Utah is visited every three to five years. The reach of this programming is far greater than performing arts organizations in other metropolitan areas. In addition to visits to schools, the programs provide opportunities for students to attend performances, rehearsals, master classes, and other great learning events. The community at large is engaged regularly through various Outreach Programs. We present an annual performance for children with special needs and their families reaching over 580 individuals each year, an annual performance for the blind and visually impaired reaching up to 100 members of that community. Other services coordinated by our Education and Outreach Department include a variety of free lectures, internships, on-line learning courses, teacher re-licensure programs, and a Youth Symphony Festival. A stand-out among Utah Symphony | Utah Opera's projects is our local partnership with local museums, art galleries, libraries, film centers, performing arts groups, and scholars, the Festival provides our community opportunities to explore an artistic theme using all their senses. Utah Symphony | Utah Opera is engaged in valuable cooperative relationships with many other non-profit organizations that serve a variety of purposes, including The Road Home, Utah School Boards, Ballet West, and Madeleine Cathedral Choir School. It is also notable that, through a close relationship with the communities it serves, Utah Symphony | Utah Opera is able to reinvest into Utah's economy. The organization employs over 400 individuals each year. *An estimated 93% of Utah Symphony | Utah Opera expenses are fed directly back into the local economy. *Economic development professionals concur that a vibrant symphony and opera are important criteria in attracting new businesses and skilled professionals to Utah. *Source: Salt Lake County Cultural Facilities Master Plan, AMS Consultants, December 2008.

Financial Efficiency

• Mission deployment rate: 92.4%; rating input score 92
• Program expense ratio: 87.3%; rating input score 87
• Fundraising efficiency: $11.8 raised per $1 spent on fundraising; rating input score 43; 43rd percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.4%; rating input score 94; 22nd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 92.7%; rating input score 93; 25th 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: -5.1%; rating input score 16; 16th percentile among comparable filings
• Total-asset coverage ratio: 2.57; rating input score 70; 70th percentile among comparable filings
• Liabilities to assets ratio: 0.05; rating input score 82; 82nd percentile among comparable filings
• Officer compensation ratio: 7.1%; rating input score 35; 35th percentile among comparable filings

Growth

• Program expense growth: 3.2% per year; rating input score 100; 27th percentile among comparable filings
• Revenue growth: 3% per year; rating input score 100; 25th percentile among comparable filings
• Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings