HOLLAND 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

1990

Legal Domicile

Principal Officer

TIM DYK

Phone

6167966780

Tax Period

2024-05-01 to 2025-04-30

HOLLAND SYMPHONY ORCHESTRA, founded in 1990, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2024. Revenue surged 119% from the prior year, signaling strong growth momentum. The organization ran a surplus of $702K, a strong 55% operating margin.

Mission

TO ENGAGE ALL PEOPLE IN MUSIC TO ENRICH THE CULTURAL LIFE OF THE COMMUNITY THROUGH CONCERTS, MUSICAL EDUCATION AND COMMUNITY COLLABORATIONS.

Program Service Accomplishments

Program 1

Expenses: $430,652

HOLLAND SYMPHONY ORCHESTRA (HSO) PRESENTED THE 2024-2025 SEASON WITH CONCERTS, EDUCATIONAL PROGRAMMING, AND COLLABORATIVE EVENTS. TEN CONCERTS WERE PROGRAMMED AND TICKETS WERE SOLD FOR 9 OF THE 11...

HOLLAND SYMPHONY ORCHESTRA (HSO) PRESENTED THE 2024-2025 SEASON WITH CONCERTS, EDUCATIONAL PROGRAMMING, AND COLLABORATIVE EVENTS. TEN CONCERTS WERE PROGRAMMED AND TICKETS WERE SOLD FOR 9 OF THE 11 CONCERTS: 4 CLASSICAL, 2 HOLIDAY, 2 CARNEGIE HALL LINKUP, 1 SUMMER POPS, 1 COMMUNITY CONCERT, AND 2 YOUTH ORCHESTRA CONCERTS. THE 11TH CONCERT WAS A FREE CONCERT IN A HOLLAND CITY PARK ENTITLED MUSICUNITES US. THE WEEKLONG FESTIVAL INVOLVED OVER 20 DIFFERENT COMMUNITY DANCE AND ARTS ORGANIZATIONS AND CULMINATED IN A FREE CONCERT WITH A BRAZILIAN BAND OF THREE SISTERS WITH ORCHESTRA. THIS INCLUSIVE EVENT DREW A LARGE AUDIENCE OF NEARLY 1500. SEASON TICKETS GREW TO 612 OR 68% OF THE VENUE. ATTENDANCE CONTINUED TO RISE DURING THE SEASON WITH THE FINAL CONCERT OF THE SEASON AT ALMOST FULL CAPACITY OF 784/800. POPS AT THE PIER CONCERT/EVENT HAD 815 IN ATTENDANCE IN A BOAT SHED.

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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 $985,996

Program Service Revenue $162,524

Investment Income $129,164

Other Revenue $3,142

TOTAL REVENUE $1,280,826

Expense Breakdown

Grants Paid $0

Salaries & Benefits $89,404

Fundraising Expenses $59,189

Program Expenses $430,652

Other Expenses $489,260

TOTAL EXPENSES $578,664

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,280,826	$585,302	+1.2%
Expenses	$578,664	$490,041	+0.2%
Net Income	$702,162	$95,261	+6.4%

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

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

$68,417

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RUTH CROUCH	CHAIR	4.00	Officer Director	$0	$0	$0
KAY HUBBARD	VICE CHAIR	3.00	Officer Director	$0	$0	$0
JAN DALMAN	SECRETARY	3.00	Officer Director	$0	$0	$0
TIM DYK	TREASURER	3.00	Officer Director	$0	$0	$0
SARAH BAST	BOARD MEMBER	2.00	Director	$0	$0	$0
SARAH BRIGGS	BOARD MEMBER	1.00	Director	$0	$0	$0
KETZI CHACON-ZYLSTRA	BOARD MEMBER	1.00	Director	$0	$0	$0
RACHEL COUSSENS	BOARD MEMBER	1.00	Director	$0	$0	$0
DON COWIE	BOARD MEMBER	2.00	Director	$0	$0	$0
SUSAN FORMSMA	BOARD MEMBER	1.00	Director	$0	$0	$0
TODD KLIPP	BOARD MEMBER	1.00	Director	$0	$0	$0
TARA LEONARD	BOARD MEMBER	1.00	Director	$0	$0	$0
TRINA LICHTENWALNER	BOARD MEMBER	1.00	Director	$0	$0	$0
SHANDRA MARTINEZ	BOARD MEMBER	2.00	Director	$0	$0	$0
SUSAN MILLER	BOARD MEMBER	1.00	Director	$0	$0	$0
LUKE PANNING	BOARD MEMBER	1.00	Director	$0	$0	$0
MARILYN SCHMIDT	BOARD MEMBER	2.00	Director	$0	$0	$0
PAUL TEN ELSHOF	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE USHER	BOARD MEMBER	1.00	Director	$0	$0	$0
JANE VANDERMEER	BOARD MEMBER	1.00	Director	$0	$0	$0
MARCIA WESTRATE	BOARD MEMBER	2.00	Director	$0	$0	$0
JOANNA NORRIS	BOARD MEMBER	1.00	Director	$0	$0	$0
KAY WALVOORD THRU 43025	PRESIDENT &	30.00	Officer	$22,917	$0	$22,917
MICHAEL NAESS	PRESIDENT &	40.00	Officer	$45,500	$0	$45,500

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	$1,280,826	$578,664	$2,471,734	$702,162
2024	$585,302	$490,041	$1,743,594	$95,261
2023	$611,627	$431,138	$1,576,960	$180,489
2022	$416,191	$393,560	$1,425,723	$22,631
2021	$363,692	$200,265	$1,549,418	$163,427
2020	$387,429	$327,498	$1,160,279	$59,931
2019	$459,374	$398,659	$1,120,675	$60,715