Greater Akron Musical Association … - Form 990 Financial Data

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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

1953

Legal Domicile

Principal Officer

Paul Jarrett

Phone

3305358131

Tax Period

2024-07-01 to 2025-06-30

Greater Akron Musical Association Inc, founded in 1953, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.9M in total revenue in fiscal year 2024.

Mission

The Akron Symphony enriches the lives of audiences, musicians, and our community through exceptional symphonic music, and meaningful, collaborative, and educational programming that welcomes, connects, and engages a broad and diverse regional community.

Program Service Accomplishments

Program 1

Expenses: $1,523,874 Revenue: $398,405

The Akron Symphony Orchestra presents seven classical concerts, one Holiday Pops concert, the annual Gospel Meets Symphony concert, four performances by the Akron Youth Symphony and Philharmonic, and three performances in the City of Akron's Summer Parks Concert series. For youth, the Akron Symphony Orchestra presents Concerts for Kids series, the Head Start Music Program, and the Carnegie Hall Link Up program each spring. Close to 100,000 individuals are served in a season - including approximately 8,000 young people. The Akron Symphony Orchestra prioritizes building meaningful relationships and community ties through music. The organization is passionate about collaborations with local artists and musicians and uses those relationships to broaden its reach and serve citizens across the greater Akron area.

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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 $1,513,327

Program Service Revenue $398,405

Investment Income $14,060

Other Revenue $-62,356

TOTAL REVENUE $1,863,436

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,277,304

Fundraising Expenses $148,694

Program Expenses $1,523,874

Other Expenses $677,433

TOTAL EXPENSES $1,954,737

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,863,436	$1,749,010	+0.1%
Expenses	$1,954,737	$1,842,795	+0.1%
Net Income	$-91,301	$-93,785	0.0%

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

272

Volunteers

210

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

Total Directors

$88,273

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Tom Crookes	President	3.00	Officer Director	$0	$0	$0
Eda Valentin	Trustee	1.00	Director	$0	$0	$0
Jeana Singleton	Trustee	1.00	Director	$0	$0	$0
George Rosin	Trustee	1.00	Director	$0	$0	$0
Adam Lintz	Trustee	1.00	Director	$0	$0	$0
Andrew Leask	Trustee	1.00	Director	$0	$0	$0
Thomas Hite	Trustee	1.00	Director	$0	$0	$0
Heather Hahn	Trustee	1.00	Director	$0	$0	$0
Kittie Clarke	Trustee	1.00	Director	$0	$0	$0
Roula Bailey	Trustee	1.00	Director	$0	$0	$0
Patricia Nilsestuen	Co-Chair	3.00	Director	$0	$0	$0
Steve Sedlock	Marketing Chair	1.00	Director	$0	$0	$0
Bonnie Panlasigui	Education Chair	1.00	Officer Director	$0	$0	$0
Thomas Jefferson	DEI Chair	1.00	Officer Director	$0	$0	$0
Lia Jones	Development Chair	1.00	Officer Director	$0	$0	$0
Andrew Ziegler	Finance Chair	1.00	Officer Director	$0	$0	$0
Theresa Petit-Lerner	Secretary	1.00	Officer Director	$0	$0	$0
Alex Quay	Vice President	1.00	Officer Director	$0	$0	$0
Geraldine Wojno Kiefer	Trustee	1.00	Director	$0	$0	$0
Martha Banks	Trustee	1.00	Director	$0	$0	$0
Johnnette Curry	Trustee	1.00	Director	$0	$0	$0
Jack Kehrli	Trustee	1.00	Director	$0	$0	$0
Tom Knauer	Trustee	1.00	Director	$0	$0	$0
Elizabeth Saraceno	Trustee	1.00	Director	$0	$0	$0
Michael Sferro	Trustee	1.00	Director	$0	$0	$0
Paul Jarrett	Executive Director	40.00	Director	$80,161	$8,112	$88,273

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	$1,863,436	$1,954,737	$282,087	$-91,301
2024	No data	No data	No data	No data
2023	$1,894,395	$1,778,979	$478,636	$115,416
2022	$1,949,646	$1,547,164	$861,062	$402,482
2021	$1,199,690	$1,081,624	$720,607	$118,066
2020	$1,427,807	$1,440,892	$421,808	$-13,085
2019	$1,742,483	$1,755,013	$138,507	$-12,530
2018	$2,039,388	$2,025,932	$192,191	$13,456

Greater Akron Musical Association Inc