INDIANA SYMPHONY SOCIETY INC

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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

1937

Legal Domicile

Phone

3172621100

Tax Period

2023-09-01 to 2024-08-31

INDIANA SYMPHONY SOCIETY INC, founded in 1937, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $23.4M in total revenue in fiscal year 2023. Expenses of $27.9M exceeded revenue, resulting in a 19% operating deficit.

Mission

The Indianapolis Symphony Orchestra inspires and unites our community through our music.

Program Service Accomplishments

Program 1

Expenses: $23,482,149 Revenue: $9,880,850

THE INDIANAPOLIS SYMPHONY ORCHESTRA IS THE LARGEST PERFORMING ARTS ORGANIZATION IN THE STATE OF INDIANA, PERFORMING A YEAR-ROUND SCHEDULE OF CONCERTS AND EDUCATION PROGRAMS. EACH SEASON, THE...

THE INDIANAPOLIS SYMPHONY ORCHESTRA IS THE LARGEST PERFORMING ARTS ORGANIZATION IN THE STATE OF INDIANA, PERFORMING A YEAR-ROUND SCHEDULE OF CONCERTS AND EDUCATION PROGRAMS. EACH SEASON, THE INDIANAPOLIS SYMPHONY ORCHESTRA PRESENTS A WIDE REPERTOIRE OF ORCHESTRAL MUSIC, INCLUDING COMMISSIONS OF NEW MUSIC, BOTH CLASSICAL AND POPS. CONCERTS INCLUDE PROGRAMS OF CLASSICAL MUSIC, SYMPHONIC POPS PERFORMANCES, FAMILY ORIENTED PROGRAMS, HOLIDAY PROGRAMS, UNCHARTED, THE OUTDOOR SUMMER SERIES AND MANY MORE. THE INDIANAPOLIS SYMPHONY ORCHESTRA IS DEDICATED TO LEADING THE FIELD IN MUSIC EDUCATION. SYMPHONY MUSICIANS AND STAFF CREATE PIONEERING LEARNING OPPORTUNITIES FOR PARTICIPANTS THROUGHOUT THE STATE THROUGH A VARIETY OF PROJECTS WHICH IMPACT STUDENTS AND ADULTS IN THE INDIANAPOLIS SYMPHONY ORCHESTRA'S LEARNING COMMUNITY. THE METROPOLITAN YOUTH ORCHESTRA WHICH IS A YOUTH AND FAMILY DEVELOPMENT PROGRAM OF THE LEARNING COMMUNITY USES THE LIFE SKILLS LEARNED IN MUSIC INSTRUCTION TO ENGAGE YOUTH IN ACTIVITIES THAT DISCOURAGE AT-RISK BEHAVIORS AND KEEP THEM COMMITTED TO STAYING IN SCHOOL. THE HISTORIC HILBERT CIRCLE THEATRE ON MONUMENT CIRCLE IN DOWNTOWN INDIANAPOLIS IS HOME TO THE INDIANAPOLIS SYMPHONY ORCHESTRA AND IS OWNED BY THE ORANGIZATION'S FOUNDATION. OUTSIDE THE THEATRE, THE INDIANAPOLIS SYMPHONY CAN BE HEARD LIVE IN SEVERAL INDIANA COMMUNITIES. AS A LEADING MEMBER OF THE ARTS COMMUNITY IN INDIANAPOLIS, THE INDIANAPOLIS SYMPHONY ORCHESTRA COLLABORATES ON A REGULAR BASIS WITH OTHER ARTS COMPANIES INCLUDING DANCE KALEIDOSCOPE, THE INTERNATIONAL VIOLIN COMPETITION OF INDIANAPOLIS, AND THE AMERICAN PIANIISTS ASSOCIATION.

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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 (2023)

Revenue Breakdown

Contributions & Grants $13,895,731

Program Service Revenue $9,430,299

Investment Income $85,094

Other Revenue $-60,366

TOTAL REVENUE $23,350,758

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,493,573

Fundraising Expenses $1,934,990

Program Expenses $23,482,149

Other Expenses $12,379,091

TOTAL EXPENSES $27,872,664

Year-over-Year Comparison

	2023	2022	Change
Revenue	$23,350,758	$23,085,928	+0.0%
Expenses	$27,872,664	$25,082,337	+0.1%
Net Income	$-4,521,906	$-1,996,409	+1.3%

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

Governance

Voting Members

Independent Members

Employees

506

Volunteers

204

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

$440,526

Total Directors

Key Employees

$309,173

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Christina Bodurow PHD	Secretary	2.0	Officer Director	$0	$0	$0
Eric Sutphin	Treasurer	2.0	Officer Director	$0	$0	$0
Greg Loewen	Chair	2.0	Officer Director	$0	$0	$0
Phil Kenney	Vice Chair	2.0	Officer Director	$0	$0	$0
Alexandra French	Director (as of Jan 2024)	2.0	Director	$0	$0	$0
Alice K Schloss	Director	2.0	Director	$0	$0	$0
Amy Kniffen	Director (as of Jan 2024)	2.0	Director	$0	$0	$0
Brian Smith	Director (through Dec 2023)	2.0	Director	$0	$0	$0
Bruce McCaw	Director	2.0	Director	$0	$0	$0
C Daniel Yates	Director	2.0	Director	$0	$0	$0
Cheryl J Dick	Director	2.0	Director	$0	$0	$0
Christopher Slapak MD	Director	2.0	Director	$0	$0	$0
Craig Fenneman	Director	2.0	Director	$0	$0	$0
David Wilcox	Director	2.0	Director	$0	$0	$0
Eloise Paul	Director	2.0	Director	$0	$0	$0
Fred Winters	Director	2.0	Director	$0	$0	$0
J Albert Smith Jr	Director	2.0	Director	$0	$0	$0
Jackie Nytes	Director	2.0	Director	$0	$0	$0
James Zink	Director (through Dec 2023)	2.0	Director	$0	$0	$0
Jan Pierce	Director	2.0	Director	$0	$0	$0
Justin Sufan	Director (as of Jan 2024)	2.0	Director	$0	$0	$0
Karen Ann P Lloyd	Director	2.0	Director	$0	$0	$0
Karen Mersereau	Director (through Dec 2023)	2.0	Director	$0	$0	$0
Kiamesha Colom	Director	2.0	Director	$0	$0	$0
LaTonya Turner PhD	Director	2.0	Director	$0	$0	$0
Liz Kyzr	Director	2.0	Director	$0	$0	$0
Lucia J Mar	Director	2.0	Director	$0	$0	$0
Matthew Gutwein	Director (as of Jan 2024)	2.0	Director	$0	$0	$0
Michael Bercher	Director (through Dec 2023)	2.0	Director	$0	$0	$0
Natalie Furney	Director	2.0	Director	$0	$0	$0
Nicholas Schellinger	Director (as of Jan 2024)	2.0	Director	$0	$0	$0
Peter A Morse Jr	Director	2.0	Director	$0	$0	$0
Peter W Howard PHD	Director	2.0	Director	$0	$0	$0
Samuel Rothstein	Director	2.0	Director	$0	$0	$0
Sean L Huddleston PhD	Director	2.0	Director	$0	$0	$0
Steven Rake	Director	2.0	Director	$0	$0	$0
Terry Snell	Director	2.0	Director	$0	$0	$0
Tori Weyers	Director	2.0	Director	$0	$0	$0
Yecenia Tostado	Director	2.0	Director	$0	$0	$0
Yvonne H Shaheen	Director	2.0	Director	$0	$0	$0
James M Johnson	CEO	37.5	Officer	$241,453	$36,720	$278,173
Jennifer Janik	CFO	37.5	Officer	$145,383	$16,970	$162,353
Jack Everly	Pops Conductor	37.5	Key Emp	$293,548	$15,625	$309,173
Christopher Williams	Stage Manager	37.5	Highest	$131,503	$33,428	$164,931
Ed Parsons	VP of Artistic	37.5	Highest	$148,588	$14,708	$163,296
Kevin Lin	Concertmaster	37.5	Highest	$255,596	$23,767	$279,363
Patrick Feeney	Stagehand	37.5	Highest	$109,298	$40,067	$149,365
Stephanie Hays Hussoni	VP of Development	37.5	Highest	$153,739	$6,744	$160,483

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	$23,350,758	$27,872,664	$8,991,393	$-4,521,906
2023	$23,085,928	$25,082,337	$12,835,394	$-1,996,409
2022	$22,639,847	$24,143,667	$10,989,089	$-1,503,820
2021	$26,550,940	$9,336,324	$13,063,766	$17,214,616
2020	$19,159,572	$19,185,300	$5,222,523	$-25,728
2019	$26,398,067	$32,118,817	$6,470,453	$-5,720,750
2018	$27,276,315	$27,076,095	$8,678,048	$200,220