DETROIT SYMPHONY ORCHESTRA 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

1951

Legal Domicile

Principal Officer

ERIK RONMARK

Phone

3135765100

Tax Period

2023-09-01 to 2024-08-31

DETROIT SYMPHONY ORCHESTRA INC, founded in 1951, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $40.7M in total revenue in fiscal year 2023. Expenses of $48.7M exceeded revenue, resulting in a 20% operating deficit.

Mission

THE DETROIT SYMPHONY ORCHESTRA IMPACTS LIVES THROUGH THE POWER OF UNFORGETTABLE MUSICAL EXPERIENCES BY SUSTAINING A WORLD CLASS ORCHESTRA FOR OUR CITY AND THE GLOBAL COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $33,963,322 Revenue: $9,321,412

ORCHESTRA CONCERTS: THE ORCHESTRA'S PERFORMANCE CALENDAR INCLUDES CLASSICAL AND POPS CONCERTS IN ORCHESTRA HALL, AS WELL AS THE LIVE FROM ORCHESTRA HALL WEBCAST SERIES NOW IN ITS ELEVENTH SEASON...

ORCHESTRA CONCERTS: THE ORCHESTRA'S PERFORMANCE CALENDAR INCLUDES CLASSICAL AND POPS CONCERTS IN ORCHESTRA HALL, AS WELL AS THE LIVE FROM ORCHESTRA HALL WEBCAST SERIES NOW IN ITS ELEVENTH SEASON, SHARING THE MUSIC OF THE DSO WITH LISTENERS IN ALL 50 STATES AND 100 COUNTRIES WORLDWIDE.

Program 2

Expenses: $526,517 Revenue: $988,594

COMMUNITY USE OF THE MAX M. AND MARJORIE S. FISHER MUSIC CENTER: COMPLETED IN 2003, THE DSO'S MAX M. AND MARJORIE S. FISHER MUSIC CENTER HAS BEEN A CATALYST FOR GROWTH AND BEACON FOR POSITIVE IMPACT IN MIDTOWN AND THE CITY OF DETROIT. "THE MAX" IS HOME TO HISTORIC ORCHESTRA HALL, THE 15,000-SQUARE-FOOT PINCUS MUSIC EDUCATION CENTER, A STUNNING ATRIUM, STATE-OF-THE-ART REHEARSAL ROOMS AND ADMINISTRATIVE FACILITIES. AS DETROIT'S MUSICAL EPICENTER, IT IS A COMMUNITY GATHERING SPACE WHERE IDEAS, EXPERTISE, RESOURCES, AND ART COLLIDE DAILY.

Program 3

Expenses: $1,382,311 Revenue: $790,963

EDUCATION AND COMMUNITY ENGAGEMENT: THE DETROIT SYMPHONY ORCHESTRA'S EDUCATION AND COMMUNITY ENGAGEMENT PROGRAMMING IS DEDICATED TO PROVIDING MEANINGFUL MUSICAL EXPERIENCES FOR COMMUNITY MEMBERS...

EDUCATION AND COMMUNITY ENGAGEMENT: THE DETROIT SYMPHONY ORCHESTRA'S EDUCATION AND COMMUNITY ENGAGEMENT PROGRAMMING IS DEDICATED TO PROVIDING MEANINGFUL MUSICAL EXPERIENCES FOR COMMUNITY MEMBERS THROUGHOUT THEIR LIVES. OUR PROGRAMS PROVIDE STUDENTS OF ALL AGES AND MUSICAL SKILL LEVELS ACROSS THE GREATER DETROIT AREA WITH THE OPPORTUNITY TO EXPAND CREATIVITY AND DEVELOP MUSICAL TALENT. EXPERIENCES RANGE FROM CONCERTS FOR TODDLERS, YOUNG CHILDREN, AND THEIR FAMILIES, TO INSTRUMENT TRAINING PROGRAMS SERVING ELEMENTARY UP TO GRADUATE STUDENTS. IN THIS TIME OF EXTRAORDINARY NEED, THE DSO HAS ALSO MADE A COMMITMENT TO SERVING OUR COMMUNITY FROM A DISTANCE, THROUGH FREE ACCESS TO OUR DSO REPLAY SERVICE AND THE EXPANSION OF OUR DIGITAL EDUCATION CONTENT.

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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 $28,805,942

Program Service Revenue $10,144,544

Investment Income $221,527

Other Revenue $1,506,311

TOTAL REVENUE $40,678,324

Expense Breakdown

Grants Paid $0

Salaries & Benefits $25,939,272

Fundraising Expenses $3,369,629

Program Expenses $36,646,273

Other Expenses $22,527,580

TOTAL EXPENSES $48,664,911

Year-over-Year Comparison

	2023	2022	Change
Revenue	$40,678,324	$39,235,887	+0.0%
Expenses	$48,664,911	$39,945,562	+0.2%
Net Income	$-7,986,587	$-709,675	+10.3%

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

707

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

$445,125

Total Directors

$1,062,649

Key Employees

$605,591

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID PROVOST	DIRECTOR & CHAIRMAN	1.00	Officer Director	$0	$0	$0
ERIK RONMARK	DIRECTOR & PRESIDENT & CEO	60.00	Officer Director	$424,776	$20,349	$445,125
LAURA J TRUDEAU	DIRECTOR & TREASURER	1.00	Officer Director	$0	$0	$0
JAMES VELLA	DIRECTOR & SECRETARY	1.00	Officer Director	$0	$0	$0
RICHARD HUTTENLOCHER	DIRECTOR & OFFICER AT LARGE	1.00	Officer Director	$0	$0	$0
SHIRLEY STANCATO	DIRECTOR & VICE CHAIR	1.00	Officer Director	$0	$0	$0
DAVID M WU MD	DIRECTOR & OFFICER AT LARGE	1.00	Officer Director	$0	$0	$0
MICHAEL BICKERS	DIRECTOR	1.00	Director	$0	$0	$0
ELENA CENTEIO	DIRECTOR	1.00	Director	$0	$0	$0
AARON FRANKEL	DIRECTOR	1.00	Director	$0	$0	$0
HERMAN B GRAY MD	DIRECTOR	1.00	Director	$0	$0	$0
LAURA HERNANDEZ-ROMINE	DIRECTOR	1.00	Director	$0	$0	$0
NICHOLAS HOOD III	DIRECTOR	1.00	Director	$0	$0	$0
RENATO JAMETT	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL J KAUFMAN	DIRECTOR	1.00	Director	$0	$0	$0
H KEITH MOBLEY	DIRECTOR (PART YEAR)	1.00	Director	$0	$0	$0
XAVIER MOSQUET	DIRECTOR	1.00	Director	$0	$0	$0
DAVID NICHOLSON	DIRECTOR	1.00	Director	$0	$0	$0
ARTHUR T OREILLY	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN POLK	DIRECTOR	1.00	Director	$0	$0	$0
BERNARD I ROBERTSON	DIRECTOR	1.00	Director	$0	$0	$0
ELLEN HILL ZERINGUE	DIRECTOR	1.00	Director	$0	$0	$0
FAYE ALEXANDER NELSON	DIRECTOR (PART YEAR)	1.00	Director	$0	$0	$0
RALPH J GERSON	DIRECTOR (PART YEAR)	1.00	Director	$0	$0	$0
GLENDA D PRICE PHD	DIRECTOR (PART YEAR)	1.00	Director	$0	$0	$0
DAVID ASSEMANY	DIRECTOR (PART YEAR)	1.00	Director	$0	$0	$0
MICHAEL J KEEGAN	DIRECTOR (PART YEAR)	1.00	Director	$0	$0	$0
NANCY TELLEM	DIRECTOR (PART YEAR)	1.00	Director	$0	$0	$0
PETER MCCAFFREY	ORCHESTRA REPRESENTATIVE (PART YEAR)	40.00	Director	$101,748	$36,033	$137,781
KENNETH THOMKINS	ORCHESTRA REPRESENTATIVE (PART YEAR)	40.00	Director	$146,580	$30,966	$177,546
DAVID EVERSON	ORCHESTRA REPRESENTATIVE (PART YEAR)	40.00	Director	$124,661	$27,541	$152,202
AMANDA BLAIKIE	ORCHESTRA REPRESENTATIVE (PART YEAR)	40.00	Director	$113,900	$36,095	$149,995
JILL ELDER	VP AND CHIEF REVENUE OFFICER	60.00	Key Emp	$270,075	$37,329	$307,404
LINDA LUTZ	VP & CHIEF ADMIN & FINANCIAL OFFICER	60.00	Key Emp	$261,654	$36,533	$298,187
ROBYN BOLLINGER	MUSICIAN	40.00	Highest	$249,795	$19,827	$269,622
RALPH SKIANO JR	MUSICIAN	40.00	Highest	$163,234	$42,556	$205,790
WEI YU	MUSICIAN	40.00	Highest	$162,965	$40,614	$203,579
HUNTER EBERLY	MUSICIAN	40.00	Highest	$156,246	$41,393	$197,639
ALEXANDER KAPORDELIS	SENIOR DIRECTOR OF ADVANCEMENT	50.00	Highest	$150,476	$24,263	$174,739

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	$40,678,324	$48,664,911	$117,042,832	$-7,986,587
2023	$39,235,887	$39,945,562	$116,610,522	$-709,675
2022	$44,760,192	$36,743,393	$113,852,222	$8,016,799
2021	$30,885,710	$25,589,570	$107,612,719	$5,296,140
2020	$29,874,628	$31,563,501	$97,503,520	$-1,688,873
2019	$40,951,752	$35,606,065	$99,763,501	$5,345,687