SALISBURY SYMPHONY INC

EIN: 237366640 501(c)(3) Arts, Culture & Humanities

SALISBURY, NC

Total Revenue
$770,518
Total Expenses
$935,935
Total Assets
$714,600
Net Assets
$607,120
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
NC
Principal Officer
STEPHANIE POTTER
Tax Period
2023-07-01 to 2024-06-30

SALISBURY SYMPHONY INC, founded in 1972, is a small nonprofit in the Arts, Culture & Humanities sector that reported $771K in total revenue in fiscal year 2023. Revenue surged 105% from the prior year, signaling strong growth momentum. Expenses of $936K exceeded revenue, resulting in a 21% operating deficit.

Mission

TO EDUCATE, ENTERTAIN, INSPIRE, ENGAGE AND ENRICH OUR COMMUNITY AND SURROUNDING AREASTHROUGH ORCHESTRAL MUSIC, MUSICAL PERFORMANCES AND HIGHEST MUSIC EDUCATION

Program Service Accomplishments

Program 1
Expenses: $447,376

SYMPHONY ORCHESTRA CONCERTS, OTHER COMMUNITY EVENTS AND MUSICEDUCATION FOR SCHOOL CHILDREN.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $104,898
Program Service Revenue $278,978
Investment Income $65,966
Other Revenue $320,676
TOTAL REVENUE $770,518

Expense Breakdown

Grants Paid $0
Salaries & Benefits $102,884
Fundraising Expenses $0
Program Expenses $447,376
Other Expenses $833,051
TOTAL EXPENSES $935,935

Year-over-Year Comparison

2023 2022 Change
Revenue $770,518 $376,081 +1.0%
Expenses $935,935 $502,786 +0.9%
Net Income $-165,417 $-126,705 +0.3%
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

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Governance

Voting Members
20
Independent Members
20
Employees
7
Volunteers
300

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
4
$0
Total Directors
20
$55,000
Key Employees
1
$55,000
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HUNTER SAFRIT EXECUTIVE DIRECTOR 40.00
Director Key Emp
$55,000 $0 $55,000
BARRY PHILLIPS DIRECTOR 1.00
Director
$0 $0 $0
00 JONES DIRECTOR 1.00
Director
$0 $0 $0
MARK BIAS DIRECTOR 1.00
Director
$0 $0 $0
DOTTIE HOY DIRECTOR 1.00
Director
$0 $0 $0
FRANK LABAGNARA DIRECTOR 1.00
Director
$0 $0 $0
ANDREW PRATER DIRECTOR 1.00
Director
$0 $0 $0
LAWRENCE QUINNETT DIRECTOR 1.00
Director
$0 $0 $0
SUE MCHUGH DIRECTOR 1.00
Director
$0 $0 $0
CORIAN MINCY DIRECTOR 1.00
Director
$0 $0 $0
RICKY HOWSARE DIRECTOR 1.00
Director
$0 $0 $0
CARLA COPELAND-BURNS DIRECTOR 1.00
Director
$0 $0 $0
JERRY COCHRAN DIRECTOR 0.00
Director
$0 $0 $0
DAVIS BROWN DIRECTOR 1.00
Director
$0 $0 $0
HALEY FREEMAN DIRECTOR 1.00
Director
$0 $0 $0
JUDE JOSEPH DIRECTOR 1.00
Director
$0 $0 $0
JEAN B WURSTER VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
TIM A GUDGER TREASURER 1.00
Officer Director
$0 $0 $0
JOHN COWAN SECRETARY 1.00
Officer Director
$0 $0 $0
STEPHANIE POTTER PRESIDENT 0.00
Officer Director
$0 $0 $0
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 No data No data No data No data
2024 $770,518 $935,935 $714,600 $-165,417
2023 $376,081 $502,786 $773,021 $-126,705
2022 $205,553 $367,007 $928,976 $-161,454
2021 $362,287 $193,973 $1,085,993 $168,314
2020 $319,074 $335,399 $1,079,652 $-16,325
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