Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $590,456

• 1d · Related organizations

  $2,050,956

• 1e · Government grants (contributions)

  $1,796,633

• 1f · All other contributions, gifts and grants

  $4,167,162

• 1g · Noncash contributions included above

  $276,320

• 2a · Program service revenue: CONCERT PERFORMANCES

  total $10,395,961 · related or exempt $10,395,961

• 2f · All other program service revenue

  total $76,670 · related or exempt $76,670

• 3 · Investment income

  total $416,529 · excluded $416,529

• 7a · Gross sales of assets other than inventory

  securities $3,226 · other assets $110,000

• 7b · Less cost or other basis and sales expenses

  securities $0 · other assets $85,000

• 7c · Gain or loss

  securities $3,226 · other assets $25,000

• 7d · Net gain or loss

  total $28,226 · excluded $28,226

• 8a · Fundraising events: gross income

  $153,633

• 8a · Fundraising events: contributions included on line 1c

  $590,456

• 8b · Fundraising events: direct expenses

  $322,136

• 8c · Net income from fundraising events

  total -$168,503 · excluded -$168,503

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,487,883 · program services $972,042 · management and general $365,998 · fundraising $149,843

• 7 · Other salaries and wages

  total $8,333,255 · program services $7,431,144 · management and general $637,993 · fundraising $264,118

• 8 · Pension plan contributions

  total $334,311 · program services $304,636 · management and general $19,971 · fundraising $9,704

• 9 · Other employee benefits

  total $1,261,620 · program services $1,149,418 · management and general $76,138 · fundraising $36,064

• 10 · Payroll taxes

  total $965,464 · program services $843,177 · management and general $81,963 · fundraising $40,324

• 11b · Fees: legal

  total $11,684 · management and general $11,684

• 11c · Fees: accounting

  total $66,400 · management and general $66,400

• 11f · Fees: investment management

  total $4,572 · management and general $4,572

• 11g · Fees: other

  total $1,125,685 · program services $774,826 · management and general $236,968 · fundraising $113,891

• 12 · Advertising and promotion

  total $635,233 · management and general $634,854 · fundraising $379

• 13 · Office expenses

  total $47,609 · program services $25,849 · management and general $21,190 · fundraising $570

• 14 · Information technology

  total $273,659 · program services $121,870 · management and general $147,710 · fundraising $4,079

• 16 · Occupancy

  total $231,753 · program services $202,250 · management and general $28,503 · fundraising $1,000

• 17 · Travel

  total $354,758 · program services $325,451 · management and general $21,170 · fundraising $8,137

• 19 · Conferences, conventions and meetings

  total $56,337 · program services $11,042 · management and general $38,651 · fundraising $6,644

• 20 · Interest

  total $2,179 · management and general $2,179

• 22 · Depreciation, depletion and amortization

  total $26,537 · management and general $26,537

• 23 · Insurance

  total $83,650 · program services $18,241 · management and general $65,409

• 24a · Other expenses: GUEST CONDUCTOR AND ART

  total $2,774,054 · program services $2,756,581 · fundraising $17,473

• 24b · Other expenses: DUES AND SUBSCRIPTIONS

  total $196,075 · program services $169,589 · management and general $24,687 · fundraising $1,799

• 24c · Other expenses: PRODUCTION EXPENSES

  total $158,952 · program services $158,952

• 24d · Other expenses: PRINTING AND PUBLICATIO

  total $100,863 · program services $18,351 · management and general $43,132 · fundraising $39,380

• 24e · All other expenses

  total $42,604 · program services $30,336 · management and general $6,499 · fundraising $5,769

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $1,779,392 · end of year $3,015,859

• 3 · Pledges and grants receivable

  beginning of year $171,154 · end of year $164,055

• 4 · Accounts receivable

  beginning of year $167,013 · end of year $198,648

• 9 · Prepaid expenses and deferred charges

  beginning of year $164,089 · end of year $250,109

• 10a · Land, buildings and equipment: cost or other basis

  $1,068,260

• 10b · Land, buildings and equipment: accumulated depreciation

  $247,334

• 10c · Land, buildings and equipment, net

  beginning of year $644,375 · end of year $820,926

• 11 · Investments: publicly traded securities

  beginning of year $7,017,322 · end of year $6,876,823

• 15 · Other assets

  beginning of year $4,614,537 · end of year $4,853,830

• 17 · Accounts payable and accrued expenses

  beginning of year $892,831 · end of year $888,660

• 19 · Deferred revenue

  beginning of year $2,278,033 · end of year $2,638,967

• 25 · Other liabilities

  beginning of year $78,685 · end of year $60,551

• 27 · Net assets without donor restrictions

  beginning of year $6,514,454 · end of year $7,638,787

• 28 · Net assets with donor restrictions

  beginning of year $4,793,879 · end of year $4,953,285

The filer's explanations (Part III)

PART I, LINE 1A

PRINCIPAL CONDUCTOR, PETER OUNDJIAN RECEIVES A HOUSING ALLOWANCE IN LIEU OF PAYING FOR A HOTEL AS HE OWNS A HOME IN DENVER, EACH TIME HE IS HERE TO CONDUCT. THE AMOUNT ($1,200 EACH WEEK HE IS CONDUCTING) IS IN HIS CONTRACT. IN ADDITION, PETER IS ALLOWED UP TO $4,000 ANNUALLY FOR TRAVEL EXPENSES FOR A COMPANION.

PART I, LINE 4A

FORMER CEO/CO-CHAIRMAN OF THE COLORADO SYMPHONY ASSOCIATION RECEIVED A SEVERANCE PAYMENT OF $259,615 DURING THE CALENDAR YEAR 2023.

PART I, LINE 7

DURING CALENDAR YEAR 2023, SENIOR MANAGEMENT PERSONNEL WERE AWARDED BONUSES FOR THEIR PERFORMANCE OF INTERIM PRESIDENT/CEO DUTIES IN ADDITION TO THE DUTIES OF THEIR REGULAR POSITIONS.