BANGOR SYMPHONY ORCHESTRA

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1896

Legal Domicile

Principal Officer

JENNIFER EASTMAN

Phone

2079425555

Tax Period

2024-07-01 to 2025-06-30

BANGOR SYMPHONY ORCHESTRA, founded in 1896, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.2M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Expenses of $1.1M left a modest 8% surplus.

Mission

THE BANGOR SYMPHONY ORCHESTRA PROVIDES POWERFUL, ENRICHING AND DIVERSE MUSICAL EXPERIENCES THROUGH LIVE CONCERT PERFORMANCES AND EDUCATION PROGRAMS OF THE HIGHEST QUALITY.

Program Service Accomplishments

Program 1

Expenses: $716,329 Revenue: $407,715

CONCERTS - THE BSO PRODUCES LIVE CLASSICAL MUSIC PERFORMANCES FOR OVER 10,000 ATTENDEES FROM THROUGHOUT CENTRAL MAINE. THE BSO PRODUCES MULTIPLE CLASSICAL MUSIC CONCERTS, A POPS CONCERT, EDUCATIONAL...

Program 2

Expenses: $61,910 Revenue: $13,143

EDUCATION - THROUGH THE BANGOR SYMPHONY YOUTH ORCHESTRAS AND VARIOUS OUTREACH PROGRAMS. THE BSO PROVIDES ACCESSIBLE EDUCATIONAL OPPORTUNITIES TO YOUTH IN THE REGION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $506,050

Program Service Revenue $446,411

Investment Income $104,072

Other Revenue $114,303

TOTAL REVENUE $1,170,836

Expense Breakdown

Grants Paid $0

Salaries & Benefits $327,130

Fundraising Expenses $130,054

Program Expenses $778,239

Other Expenses $752,436

TOTAL EXPENSES $1,079,566

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,170,836	$1,247,353	-0.1%
Expenses	$1,079,566	$1,054,826	+0.0%
Net Income	$91,270	$192,527	-0.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$86,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW DUNLAP	PRESIDENT	1.00	Officer Director	$0	$0	$0
GREG LAFRANCOIS	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JENNIFER EASTMAN	TREASURER	1.00	Officer Director	$0	$0	$0
KAY RAND	SECRETARY	1.00	Officer Director	$0	$0	$0
JUSTIN FOURNIER	DIRECTOR	1.00	Director	$0	$0	$0
LARRANCE FINGERHUT	DIRECTOR	1.00	Director	$0	$0	$0
KENYA HOPKINS	DIRECTOR	1.00	Director	$0	$0	$0
CHUNG SHUM	DIRECTOR	1.00	Director	$0	$0	$0
SARAH SMILEY	DIRECTOR	1.00	Director	$0	$0	$0
KELLY SCHEETZ	DIRECTOR	1.00	Director	$0	$0	$0
KIRSTEN ISMAIL	DIRECTOR	1.00	Director	$0	$0	$0
TIM MORIARTY	DIRECTOR	1.00	Director	$0	$0	$0
WREN SAUNDERS	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS SCHWARTZ	DIRECTOR	1.00	Director	$0	$0	$0
BERNEY KUBETZ	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD STURGEON	DIRECTOR	1.00	Director	$0	$0	$0
NATHAN LESSER	DIRECTOR	1.00	Director	$0	$0	$0
RENIA SHTERENBERG	EXECUTIVE DIRECTOR	40.00	Officer	$86,000	$0	$86,000

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$1,170,836	$1,079,566	$4,408,529	$91,270
2024	$1,247,353	$1,054,826	$4,119,081	$192,527
2023	$866,598	$1,004,403	$3,546,551	$-137,805
2022	$1,063,559	$844,905	$3,375,248	$218,654
2021	$928,953	$595,174	$3,668,004	$333,779
2020	$1,084,597	$666,508	$2,903,140	$418,089
2019	$1,049,391	$872,504	$2,526,189	$176,887
2018	$941,058	$846,299	$2,283,338	$94,759