GRAND RAPIDS SYMPHONY SOCIETY (EIN 386005447) - Form 990 Financial Analysis & Trantor Score

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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

1930

Legal Domicile

Principal Officer

KEITH ELDER

Phone

6164549451

Tax Period

2023-09-01 to 2024-08-31

GRAND RAPIDS SYMPHONY SOCIETY, founded in 1930, is a community nonprofit in the Arts, Culture & Humanities sector that reported $9.9M in total revenue in fiscal year 2023.

Mission

TO SHARE GREAT MUSIC THAT MOVES THE HUMAN SOUL AND TO EXCEL AT PROVIDING DISTINCTIVE MUSICAL EXPERIENCES, WITH AN EMPHASIS ON LIVE ORCHESTRA MUSIC, FOR DIVERSE AUDIENCES THROUGOUT WEST MICHIGAN.

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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 $7,581,386

Program Service Revenue $2,460,109

Investment Income $9,599

Other Revenue $-164,435

TOTAL REVENUE $9,886,659

Expense Breakdown

Grants Paid $25,430

Salaries & Benefits $7,817,284

Fundraising Expenses $841,917

Program Expenses $8,781,079

Other Expenses $2,981,463

TOTAL EXPENSES $10,834,551

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,886,659	$9,638,402	+0.0%
Expenses	$10,834,551	$10,876,158	0.0%
Net Income	$-947,892	$-1,237,756	-0.2%

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

246

Volunteers

125

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

$113,749

Total Directors

$167,538

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEITH ELDER	PRESIDENT	38.00	Officer	$102,749	$11,000	$113,749
HAIJIN CHOI	DIRECTOR	2.00	Director	$34,936	$40,565	$75,501
DAVID HALL	DIRECTOR	2.00	Director	$44,312	$47,725	$92,037
LUIS AVILA	IMMEDIATE PA	2.00	Director	$0	$0	$0
ANNE BLAKE-DREHER	DIRECTOR	2.00	Director	$0	$0	$0
ALICIA CORDOBA	DIRECTOR	2.00	Director	$0	$0	$0
LORI LEE CURLEY	DIRECTOR	2.00	Director	$0	$0	$0
DAVID DAMS	DIRECTOR	2.00	Director	$0	$0	$0
PAUL DOYLE	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL ELLIS	VICE CHAIRPE	2.00	Officer Director	$0	$0	$0
CHUCK FRAYER	DIRECTOR	2.00	Director	$0	$0	$0
BARBARA HOHMAN	DIRECTOR	2.00	Director	$0	$0	$0
TRACEY HORNBECK	TREASURER	2.00	Officer Director	$0	$0	$0
DON HUNT	DIRECTOR	2.00	Director	$0	$0	$0
BRAD LAACKMAN	DIRECTOR	2.00	Director	$0	$0	$0
ANDY KELLER	DIRECTOR	2.00	Director	$0	$0	$0
HYUNG KIM	DIRECTOR	2.00	Director	$0	$0	$0
NATALIA KOVICAK	DIRECTOR	2.00	Director	$0	$0	$0
TERRENCE LEDBETTER	DIRECTOR	2.00	Director	$0	$0	$0
JOSEPH LEVAN	DIRECTOR	2.00	Director	$0	$0	$0
XUESI LI GURNEY	DIRECTOR	2.00	Director	$0	$0	$0
TIM LIANG	VICE CHAIRPE	2.00	Officer Director	$0	$0	$0
JOE MANICA	DIRECTOR	2.00	Director	$0	$0	$0
BENNETT MORGAN	DIRECTOR	2.00	Director	$0	$0	$0
PEG PADNOS	DIRECTOR	2.00	Director	$0	$0	$0
GINA PAUL	DIRECTOR	2.00	Director	$0	$0	$0
KRISTA PAULIN	DIRECTOR	2.00	Director	$0	$0	$0
PETER PEREZ	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD ROANE	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
LARRY ROBSON	VICE CHAIRPE	2.00	Officer Director	$0	$0	$0
MILTON ROHWER	DIRECTOR	2.00	Director	$0	$0	$0
GREGORY SANIAL	DIRECTOR	2.00	Director	$0	$0	$0
BISHOP MARVIN SAPP	DIRECTOR	2.00	Director	$0	$0	$0
CHARSIE SAWYER	DIRECTOR	2.00	Director	$0	$0	$0
JOHN SCHNEIDER	SECRETARY	2.00	Officer Director	$0	$0	$0
CORINNE SPRAGUE	DIRECTOR	2.00	Director	$0	$0	$0
STEVE STARNES	DIRECTOR	2.00	Director	$0	$0	$0
RENEE TABBEN	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
DAVID THOMPSON	DIRECTOR	2.00	Director	$0	$0	$0
DOUG THOMPSON	DIRECTOR	2.00	Director	$0	$0	$0
TIM TIERNEY	DIRECTOR	2.00	Director	$0	$0	$0
JOHN VAN BAREN	DIRECTOR	2.00	Director	$0	$0	$0
TRIPP VANDERWAL	DIRECTOR	2.00	Director	$0	$0	$0
LEAH VOIGT	DIRECTOR	2.00	Director	$0	$0	$0
TRAVIS WARD	DIRECTOR	2.00	Director	$0	$0	$0
THOMAS WATSON	DIRECTOR	2.00	Director	$0	$0	$0
TOM WELCH	DIRECTOR	2.00	Director	$0	$0	$0
STUART WHITE	DIRECTOR	2.00	Director	$0	$0	$0
DOUG WILTERDINK	DIRECTOR	2.00	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
2024	$9,886,659	$10,834,551	$4,392,665	$-947,892
2023	$9,638,402	$10,876,158	$5,409,586	$-1,237,756
2022	$10,068,479	$10,380,522	$6,657,585	$-312,043
2021	$8,438,954	$7,997,494	$6,431,115	$441,460
2020	$9,967,085	$9,962,137	$6,537,145	$4,948
2019	$10,341,420	$10,914,975	$7,457,788	$-573,555
2018	$11,740,336	$11,454,679	$7,707,484	$285,657

GRAND RAPIDS SYMPHONY SOCIETY