WATERLOO-CEDAR FALLS SYMPHONY ORCH… - 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

1969

Legal Domicile

Principal Officer

RUSSELL CURTIS

Phone

3192733373

Tax Period

2024-07-01 to 2025-06-30

WATERLOO-CEDAR FALLS SYMPHONY ORCHESTRA ASSOCIATION, founded in 1969, is a small nonprofit that reported $633K in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Expenses of $700K exceeded revenue, resulting in a 11% operating deficit.

Mission

OUR MISSION IS SHARING LIVE MUSIC, CHAMPIONING INNOVATION, AND CELEBRATING OUR COMMON HUMANITY. WE DO THIS WITH INVENTIVE, CONTEMPORARY APPROACHES TO ENSEMBLE PERFORMANCE WHICH ENGAGE AUDIENCES MEANINGFULLY IN LIVE MUSIC.

Program Service Accomplishments

Program 1

Expenses: $309,812 Revenue: $120,879

PROVIDED CLASSICAL CONCERTS, POPS CONCERTS, AND A SERIES OF MUSIC LAB YOUTH CONCERTS. FACILITATED A YEAR-LONG ARTIST RESIDENCY IN THE WATERLOO SCHOOLS. WENT INTO LOCAL SCHOOLS TO EDUCATE YOUNG...

PROVIDED CLASSICAL CONCERTS, POPS CONCERTS, AND A SERIES OF MUSIC LAB YOUTH CONCERTS. FACILITATED A YEAR-LONG ARTIST RESIDENCY IN THE WATERLOO SCHOOLS. WENT INTO LOCAL SCHOOLS TO EDUCATE YOUNG STUDENTS ABOUT CLASSICAL MUSIC.

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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 $467,987

Program Service Revenue $125,185

Investment Income $39,519

Other Revenue $0

TOTAL REVENUE $632,691

Expense Breakdown

Grants Paid $0

Salaries & Benefits $457,831

Fundraising Expenses $58,450

Program Expenses $309,812

Other Expenses $242,239

TOTAL EXPENSES $700,070

Year-over-Year Comparison

	2024	2023	Change
Revenue	$632,691	$697,103	-0.1%
Expenses	$700,070	$800,332	-0.1%
Net Income	$-67,379	$-103,229	-0.3%

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

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

$71,509

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JORDAN BANCROFT	EXECUTIVE DIRECTOR	40.00	Officer	$59,089	$12,420	$71,509
CHRIS HOFFMAN	PRESIDENT	10.00	Officer Director	$0	$0	$0
MARTHA KROESE	PAST PRESIDENT	3.00	Officer Director	$0	$0	$0
STEPHANIE CLOHESY	PRESIDENT ELECT	2.00	Officer Director	$0	$0	$0
RUSSELL CURTIS	TREASURER	2.00	Officer Director	$0	$0	$0
SCOTT PETERS	SECRETARY	2.00	Officer Director	$0	$0	$0
EJ GALLAGHER III	DIRECTOR	2.00	Officer Director	$0	$0	$0
LEE NICHOLAS	DIRECTOR	0.50	Director	$0	$0	$0
DR JOHN BERRY	DIRECTOR	0.50	Director	$0	$0	$0
DR ANGELEITA FLOYD	DIRECTOR	0.50	Director	$0	$0	$0
CARL HARTSON	DIRECTOR	0.50	Director	$0	$0	$0
KRISTINA KOFOOT	DIRECTOR	1.00	Director	$0	$0	$0
ALEXIS KRAAYENBRINK	DIRECTOR	1.00	Director	$0	$0	$0
GARY KROEGER	DIRECTOR	0.50	Director	$0	$0	$0
MATT GLASCOCK	DIRECTOR	0.50	Director	$0	$0	$0
EMILY SWARTLEY	DIRECTOR	1.00	Director	$0	$0	$0
MIRIAM TYSON	DIRECTOR	1.00	Director	$0	$0	$0
LUKE ZAHARI	DIRECTOR	0.50	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
2025	$632,691	$700,070	$770,833	$-67,379
2024	$697,103	$800,332	$824,903	$-103,229
2023	$472,516	$718,157	$906,445	$-245,641
2022	$918,788	$607,486	$1,117,340	$311,302
2021	$469,458	$337,990	$851,951	$131,468

WATERLOO-CEDAR FALLS SYMPHONY ORCHESTRA ASSOCIATION