Overview
What is New World Symphony Inc?
New World Symphony Inc, based mostly in Miami Beach, Florida, is a dedicated nonprofit organization that focuses on nurturing gifted musicians, preparing them for successful careers in orchestras and ensembles. With a vision to secure the future of classical music, NWS reimagines, affirms, expresses, and shares its rich traditions with a broad audience.
Official website here: www.nws.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star rating)
New World Symphony Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization’s overall score is derived solely from its Accountability & Finance metrics, where it scored an outstanding 97%. This high rating indicates that the nonprofit demonstrates a commitment to transparency and effective financial management.
One of the organization's notable strengths is its governance structure, boasting 100% independent board members, which promotes unbiased oversight. Additionally, they maintain robust practices such as a documented conflict of interest policy and a whistleblower policy. The absence of material diversion of assets and a well-structured audit committee further enhance its credibility.
Financially, New World Symphony Inc shows strong indicators of sustainability with a low liabilities to assets ratio and an impressive program expense ratio of 78.13%. Furthermore, the organization demonstrates efficient fundraising practices, with a minimal cost of fundraising. Overall, their financial health and governance practices position them as a well-managed nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is New World Symphony Inc legitimate?
New World Symphony Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New World Symphony Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,665,055
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,119,020
For more financial information, click here
Official website here: www.nws.edu
What is the mission statement of New World Symphony Inc?
New World Symphony Inc is dedicated to preparing gifted music graduates for successful careers in orchestras and ensembles. The organization envisions a bright and stable future for classical music. They strive to reimagine, reinforce, and convey the traditions of classical music to a broad audience. Through their efforts, New World Symphony aims to express and share the rich heritage of classical music with as many people as possible.
Official website here: www.nws.edu
Who is the CEO of New World Symphony Inc?
Howard Herring is the CEO of New World Symphony Inc The CEO's salary of New World Symphony Inc is $424,170 and their total compensation is $448,606.
Official website here: www.nws.edu
What is the revenue of New World Symphony Inc?
New World Symphony Inc's revenue in 2024 was $34,471,304.
Official website here: www.nws.edu
Who are the executives of New World Symphony Inc and what are their salaries?
The average compensation at New World Symphony Inc during 2024 was $70,127. There are 111 employees and 47 volunteers at New World Symphony Inc.
Here are 45 key members and their salaries (New World Symphony Inc's CEO's salary is $424,170 and their total compensation is $448,606):
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- Other: $18,773
Official website here: www.nws.edu
Where can I find the form 990 for New World Symphony Inc?
New World Symphony Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.nws.edu
Learn more at the official website: www.nws.edu
Mission Statement of New World Symphony Inc
New World Symphony Inc, a renowned organization, is dedicated to preparing talented graduates of distinguished music programs for successful careers in orchestras and ensembles. This vision is driven by a deep-rooted commitment to ensuring the future vitality of classical music.
The mission of New World Symphony Inc reaches beyond mere career preparation. The organization envisions a robust and resilient future for classical music and aspires to reinvent, strengthen, and celebrate its rich traditions. Through its innovative programs and initiatives, New World Symphony Inc strives to engage and inspire audiences, expanding the reach and influence of classical music.
By providing a nurturing environment and tailored opportunities, New World Symphony Inc empowers young musicians to grow and excel as artists and professionals. This commitment to excellence is a testament to the organization's enduring dedication to the classical music world and its passionate belief in the transformative power of music.
New World Symphony Inc is more than just a training ground for budding musicians; it is a vibrant community of artists and educators who are passionate about preserving and advancing the classical music tradition. Through its programs, the organization fosters a culture of collaboration, creativity, and continuous learning, preparing its members for rewarding careers and equipping them to make a significant impact on the world of classical music.
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Impact
October, 2024
New World Symphony Inc has a significant impact on the classical music landscape by preparing gifted graduates from prestigious music programs for successful careers in orchestras and ensembles. Through its innovative approach to education and performance, the organization envisions a strong future for classical music, actively working to reimagine, reaffirm, express, and share its traditions with diverse audiences. Located in Miami Beach, it serves as a vital hub for both emerging musicians and the broader community, fostering an appreciation for classical music and ensuring its continued evolution and relevance. This commitment not only cultivates individual talent but also strengthens the cultural fabric of the region, contributing to a vibrant artistic environment.
This information is meant to be a general summary of New World Symphony Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $1,857,208
- Program Service Revenue: $1,647,723
- Gross Receipts: $64,842,477
Assets and Liabilities:
- Total Assets: $279,723,631
- Total Liabilities: $17,702,301
- Net Assets: $262,021,330
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONCERT REVENUES
Revenue
$1,535,742
APPLICATION FEES
Revenue
$49,991
BOX OFFICE FEES
Revenue
$44,133
HOUSING FEES
Revenue
$17,857
Organization Details
Founding Year
1987
Principal Officer
Humberto Ortega
Website
www.nws.eduNTEE Category
Code: B40 - Education
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