BALTIMORE SYMPHONY ORCHESTRA INC

EIN: 520629696 501(c)(3) Arts, Culture & Humanities

BALTIMORE, MD

Total Revenue
$41,676,641
Total Expenses
$34,682,280
Total Assets
$22,195,398
Net Assets
$-2,649,942
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Financial Trends

Organization Details

Formation Year
1942
Legal Domicile
MD
Principal Officer
MARK C HANSON
Phone
4107838100
Tax Period
2023-09-01 to 2024-08-31

BALTIMORE SYMPHONY ORCHESTRA INC, founded in 1942, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $41.7M in total revenue in fiscal year 2023. Revenue surged 38% from the prior year, signaling strong growth momentum. The organization ran a surplus of $7.0M, a strong 17% operating margin.

Mission

THE BALTIMORE SYMPHONY ORCHESTRA'S (BSO) MISSION IS TO PROMOTE, ORGANIZE, MANAGE AND MAINTAIN A SYMPHONY ORCHESTRA FOR THE CITY OF BALTIMORE AND THE STATE OF MARYLAND AND TO HOLD, SPONSOR, AND PRESENT MUSICAL CONCERTS BY THE BALTIMORE SYMPHONY ORCHESTRA. BSO IS AN INTERNATIONALLY RECOGNIZED SYMPHONY ORCHESTRA THAT HAS ATTRACTED A DEVOTED NATIONAL AND INTERNATIONAL FOLLOWING WHILE MAINTAINING DEEP BONDS THROUGHOUT MARYLAND WITH INNOVATIVE EDUCATION AND COMMUNITY OUTREACH INITIATIVES.

Program Service Accomplishments

Program 1
Expenses: $28,656,613 Revenue: $7,369,708

PROVIDES SYMPHONIC CONCERTS, CULTURAL AND EDUCATION PRESENTATIONS, CULTURAL AND EDUCATIONAL RENTALS, BROADCASTING AND RECORDING.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $34,134,062
Program Service Revenue $7,369,708
Investment Income $4,516
Other Revenue $168,355
TOTAL REVENUE $41,676,641

Expense Breakdown

Grants Paid $0
Salaries & Benefits $22,467,583
Fundraising Expenses $2,342,681
Program Expenses $28,656,613
Other Expenses $11,833,200
TOTAL EXPENSES $34,682,280

Year-over-Year Comparison

2023 2022 Change
Revenue $41,676,641 $30,156,512 +0.4%
Expenses $34,682,280 $33,716,829 +0.0%
Net Income $6,994,361 $-3,560,317 -3.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
33
Independent Members
32
Employees
687
Volunteers
180

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
9
$837,089
Total Directors
34
$497,136
Key Employees
3
$672,286
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MR MARK HANSON PRESIDENT AND CEO 32.00
Officer Director
$342,120 $69,486 $497,136
MR BARRY F ROSEN CHAIR 2.00
Officer Director
$0 $0 $0
HON STEVEN R SCHUH VICE CHAIR 2.00
Officer Director
$0 $0 $0
MR CHRISTIAN JOHANSSON VICE CHAIR 2.00
Officer Director
$0 $0 $0
MR MICHAEL FORSTER TREASURER 2.00
Officer Director
$0 $0 $0
MS MAGGIE DE CUEVAS SECRETARY 2.00
Officer Director
$0 $0 $0
MS LISA BROWN ALEXANDER BOARD MEMBER 2.00
Director
$0 $0 $0
MR CHUCK ALSTON BOARD MEMBER 2.00
Director
$0 $0 $0
MS MARY ELLEN BARBERA BOARD MEMBER 2.00
Director
$0 $0 $0
MR RICK BERNSTEIN BOARD MEMBER 2.00
Director
$0 $0 $0
MS KATHLEEN A CHAGNON ESQ BOARD MEMBER 2.00
Director
$0 $0 $0
MR HARVEY COHEN BOARD MEMBER 2.00
Director
$0 $0 $0
MR ROBERT B COUTTS BOARD MEMBER 2.00
Director
$0 $0 $0
MR WALTER DOGGETT III BOARD MEMBER 2.00
Director
$0 $0 $0
MR MICHAEL ERNST BOARD MEMBER 2.00
Director
$0 $0 $0
MS ELLEN R FISH BOARD MEMBER 2.00
Director
$0 $0 $0
MS DENISE GALAMBOS BOARD MEMBER (PART YEAR) 2.00
Director
$0 $0 $0
MS SANDRA LEVI GERSTUNG BOARD MEMBER 2.00
Director
$0 $0 $0
MR DOUGLAS HAMILTON III BOARD MEMBER 2.00
Director
$0 $0 $0
MS DENISE HARGROVE BOARD MEMBER 2.00
Director
$0 $0 $0
MR JOSEPH JENNINGS JR BOARD MEMBER 2.00
Director
$0 $0 $0
MR MICHAEL KEANE BOARD MEMBER 2.00
Director
$0 $0 $0
MS NANCY KOOP BOARD MEMBER 2.00
Director
$0 $0 $0
MR MARC E LACKRITZ BOARD MEMBER 2.00
Director
$0 $0 $0
MR IKE LEGGETT BOARD MEMBER 2.00
Director
$0 $0 $0
MS MARIE LERCH BOARD MEMBER 2.00
Director
$0 $0 $0
DR MARSHALL A LEVINE BOARD MEMBER 2.00
Director
$0 $0 $0
MR JASON PERRY BOARD MEMBER 2.00
Director
$0 $0 $0
MS JUDY PHARES BOARD MEMBER 2.00
Director
$0 $0 $0
MR STEPHEN D SHAWE ESQ BOARD MEMBER 2.00
Director
$0 $0 $0
HON JAMES T SMITH JR BOARD MEMBER 2.00
Director
$0 $0 $0
MR SOLOMON H SNYDER MD BOARD MEMBER 2.00
Director
$0 $0 $0
MR BARRY WILLIAMS BOARD MEMBER 2.00
Director
$0 $0 $0
MR PETER L WINIK BOARD MEMBER 2.00
Director
$0 $0 $0
MR JOHN G MCLEAN JR SR. VP & CFO (PART YEAR) 36.00
Officer
$141,416 $22,609 $199,379
MR BRIAN SMITH SR. VP & CHR 30.00
Officer
$127,964 $12,610 $140,574
MR LEONARD WILLIAMS INTERIM CFO 36.00
Officer
$0 $0 $0
MS AGNIESZKA RAKHMATULLAEV SR. VP & COO 40.00
Key Emp
$203,747 $44,736 $248,483
MS ALLISON BURR-LIVINGSTONE SR. VP AND CHIEF ADV. OFFICER 30.00
Key Emp
$141,436 $45,236 $233,818
MS CYRINA R YARBROUGH SR. VP & CHIEF MKTG. & COMM. OFFICER 40.00
Key Emp
$176,813 $13,172 $189,985
MR EDWARD CARNEY CONCERT MASTER 40.00
Highest
$276,324 $44,766 $321,090
MR TODD PRICE HEAD STAGEHAND 40.00
Highest
$165,655 $23,628 $189,283
MS KATHERINE NEEDLEMAN MUSICIAN 40.00
Highest
$168,516 $44,666 $213,182
MR BRIAN PRECHTL DIRECTOR OF EDU & COMM ENGAGEMENT 40.00
Highest
$164,985 $40,115 $205,100
MR MARIO SERRUTO ASSISTANT HEAD STAGEHAND 40.00
Highest
$161,580 $23,544 $185,124
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 $41,676,641 $34,682,280 $22,195,398 $6,994,361
2023 $30,156,512 $33,716,829 $9,275,131 $-3,560,317
2022 $26,911,826 $28,474,388 $8,452,238 $-1,562,562
2021 $20,177,740 $17,546,434 $16,033,795 $2,631,306
2020 $27,950,612 $23,324,650 $11,003,119 $4,625,962
2019 $22,967,506 $25,734,452 $8,437,988 $-2,766,946
2018 $27,782,155 $28,527,620 $9,149,778 $-745,465
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