Overview
What is Dallas Symphony Foundation?
The Dallas Symphony Foundation is a nonprofit organization, headquartered at 2301 Flora Street, Suite 300, Dallas, Texas 75201, dedicated to managing and investing an endowment fund for the Dallas Symphony Association. With a mission to further the purposes of the Dallas Symphony Association, the Foundation made a significant distribution of $9,657,866 during the fiscal year ending May 31, 2022. In response to the COVID-19 pandemic, the Foundation's Board approved special distributions totaling $6,000,000, providing additional financial support to the Association. These funds, amounting to $4 million for the year ending May 31, 2021, and $2 million for the year ending May 31, 2022, were allocated for the Association's support and operation.
Official website here: www.dallassymphony.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
The Dallas Symphony Foundation has received an impressive Four-Star rating from Charity Navigator, highlighting its strong performance in accountability and finance. With a 96% score, the organization demonstrates effective governance through 100% independent board members and a robust financial oversight structure, ensuring transparency and responsible management of resources.
Strengths include a high program expense ratio of 95.18%, indicating that a significant portion of its expenses directly supports its mission. The foundation also adheres to best practices with policies in place for conflict of interest, whistleblower protection, and document retention, showcasing its commitment to ethical operations.
While the data presents a positive view, potential donors and supporters should always consider their own priorities and values when evaluating nonprofit organizations. Overall, the Dallas Symphony Foundation stands out as a well-managed entity dedicated to its artistic and community objectives.
This AI summary has been generated from information found on Charity Navigator.
Is Dallas Symphony Foundation legitimate?
Dallas Symphony Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dallas Symphony Foundation 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.
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Official website here: www.dallassymphony.org
What is the mission statement of Dallas Symphony Foundation?
The Dallas Symphony Foundation serves the Dallas Symphony Association by managing and investing an endowment fund. Its primary role is to make annual distributions from this fund to support the association's activities. In the fiscal year of 2021-2022, the foundation distributed $9.7 million to the association as an annual distribution. In response to the COVID-19 crisis, the foundation's board approved additional special distributions of $6 million to provide extra financial assistance to the association. These funds were allocated for the association's use in its support and operation during the following fiscal years.
Official website here: www.dallassymphony.org
Who is the CEO of Dallas Symphony Foundation?
Coley Clark is the Board Member of Dallas Symphony Foundation.
Official website here: www.dallassymphony.org
What is the revenue of Dallas Symphony Foundation?
Dallas Symphony Foundation's revenue in 2022 was $12,980,267.
Official website here: www.dallassymphony.org
Who are the executives of Dallas Symphony Foundation and what are their salaries?
Here are 15 key members and their salaries:
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Official website here: www.dallassymphony.org
Where can I find the form 990 for Dallas Symphony Foundation?
Dallas Symphony Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.dallassymphony.org
Learn more at the official website: www.dallassymphony.org
Mission Statement of Dallas Symphony Foundation
The Dallas Symphony Foundation serves as a vital supporter of the Dallas Symphony Association. Its primary objective is to manage and invest an endowment fund on behalf of the Dallas Symphony Association (75-0705442). Every year, the foundation makes significant distributions from this endowment to contribute to the Dallas Symphony Association's operations and support.
During the fiscal year ending May 31, 2022, the Dallas Symphony Foundation granted $9,657,866 to the Dallas Symphony Association as an annual distribution from its endowment. In response to the challenges posed by the COVID-19 pandemic, the Foundation's Board of Directors authorized additional financial assistance. In the fiscal years ending May 31, 2021, and 2022, the Dallas Symphony Foundation provided the association with special distributions totaling $6,000,000. These funds were earmarked to bolster the Dallas Symphony Association's financial resources and aid its ongoing endeavors.
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Impact
October, 2024
The Dallas Symphony Foundation plays a crucial role in sustaining and enhancing the Dallas Symphony Association's operations. By managing and investing an endowment fund, the Foundation provides financial stability through significant annual distributions. In the fiscal year ending May 31, 2022, it distributed $9,657,866, a vital contribution that supports the Symphony's artistic endeavors and outreach programs.
In response to the challenges posed by the COVID-19 pandemic, the Foundation demonstrated a proactive approach by approving special distributions totaling $6 million to bolster the Association's financial health. This included $4 million for the fiscal year ending May 31, 2021, and an additional $2 million for the following year, ensuring that the Symphony could continue its programs despite the adverse conditions.
Through these efforts, the Dallas Symphony Foundation not only secures the future of orchestral music in the region but also enriches the cultural landscape of Dallas, fostering a vibrant community engaged in the arts.
This information is meant to be a general summary of Dallas Symphony Foundation. 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 2022.
- Investment Income: $9,719,271
- Gross Receipts: $43,056,112
Assets and Liabilities:
- Total Assets: $145,117,113
- Total Liabilities: $73,929
- Net Assets: $145,043,184
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Organization Details
Founding Year
1976
Phone
(214) 871-4000Principal Officer
Coley Clark
Main Address
2301 FLORA STREET STE 300, DALLAS, TX, 75201
Website
www.dallassymphony.orgNTEE Category
Code: A11 - Arts
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