MIAMI 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

1989

Legal Domicile

Principal Officer

RAFAEL DIAZ-BALART

Tax Period

2023-09-01 to 2024-08-31

MIAMI SYMPHONY ORCHESTRA INC, founded in 1989, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $1.4M exceeded revenue, resulting in a 16% operating deficit.

Mission

RENOWNED FOR ITS ARTISTIC EXCELLENCE, INNOVATIVE PROGRAMMING AND COMMITMENT TO COMMUNITY ENGAGEMENT, THE MIAMI SYMPHONY ORCHESTRA, CELEBRATING ITS 35TH SEASON, STANDS AS MIAMI CULTURAL CORNESTONE AND A PREMIER ORCHESTRAL INSTITUTION IN SOUTH FLORIDA.

Program Service Accomplishments

Program 1

Expenses: $1,149,585 Revenue: $274,857

IN ITS 2023-2024 SEASON, THE MIAMI SYMPHONY ORCHESTRA (MISO) SHOWCASED A DYNAMIC SERIES OF RECURRING CONCERTS THAT SOLIDIFIED ITS ROLE AS A CULTURAL CORNERSTONE OF SOUTH FLORIDA. THESE PERFORMANCES CAPTIVATED DIVERSE AUDIENCES, FOSTERING COMMUNITY ENGAGEMENT AND ARTISTIC EXCELLENCE. TO BOLSTER THIS IMPACTFUL PROGRAM, MISO RECEIVED GENEROUS IN-KIND DONATIONS TOTALING $375,000, INCLUDING THE USE OF PREMIER PERFORMANCE VENUES, HIGH-QUALITY ADVERTISING, PROFESSIONAL VIDEO PRODUCTION, STRATEGIC MARKETING CAMPAIGNS, AND ADVANCED IT SERVICES. THESE CONTRIBUTIONS NOT ONLY ELEVATED THE QUALITY AND REACH OF OUR CONCERTS BUT ALSO REINFORCED OUR COMMITMENT TO ENRICHING MIAMIS CULTURAL LANDSCAPE AND INSPIRING FUTURE GENERATIONS THROUGH 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 (2023)

Revenue Breakdown

Contributions & Grants $904,295

Program Service Revenue $274,857

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,179,152

Expense Breakdown

Grants Paid $0

Salaries & Benefits $244,483

Fundraising Expenses $0

Program Expenses $1,149,585

Other Expenses $1,123,594

TOTAL EXPENSES $1,368,077

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,179,152	$1,518,858	-0.2%
Expenses	$1,368,077	$1,626,774	-0.2%
Net Income	$-188,925	$-107,916	+0.8%

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

Total Directors

$157,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDUARDO MARTURET	BOARD MEMBER	40.00	Director	$157,500	$0	$157,500
MARCOS SANTANA	BOARD MEMBER	1.50	Director	$0	$0	$0
KEVIN RUIZ	BOARD MEMBER	1.50	Director	$0	$0	$0
SOFIA OCHOA	BOARD MEMBER	1.50	Director	$0	$0	$0
HAROLD PATRICOFF	BOARD MEMBER	1.50	Director	$0	$0	$0
STUART WEBB	BOARD MEMBER	1.50	Director	$0	$0	$0
MAURICIO SUAREZ	BOARD MEMBER	1.50	Director	$0	$0	$0
WISE INTELLIGENT	BOARD MEMBER	1.50	Director	$0	$0	$0
LISA FLEISHMAN	BOARD MEMBER	1.50	Director	$0	$0	$0
SHERINA HOSEIN	BOARD MEMBER	1.50	Director	$0	$0	$0
PEDRO J TORRES	BOARD MEMBER	1.50	Director	$0	$0	$0
DANIEL ANDAI	BOARD MEMBER	1.50	Director	$0	$0	$0
JOE MANTILLA	BOARD MEMBER	1.50	Director	$0	$0	$0
JERRY HAAR	BOARD MEMBER	1.50	Director	$0	$0	$0
THOMAS LEFEBVRE	BOARD MEMBER	1.50	Director	$0	$0	$0
ROBERT RODRIGUEZ	VICE-CHAIRMAN	1.50	Officer Director	$0	$0	$0
RAFAEL DIAZ-BALART	CHAIRMAN	1.50	Officer Director	$0	$0	$0
PEGGY GARCIA	SECRETARY	1.50	Officer Director	$0	$0	$0
EDUARDO SARASOLA	TREASURER	8.00	Officer 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	No data	No data	No data	No data
2024	$1,179,152	$1,368,077	$34,883	$-188,925
2023	$1,518,858	$1,626,774	$51,883	$-107,916
2022	$925,794	$1,478,468	$34,701	$-552,674
2021	$1,160,089	$797,553	$154,962	$362,536
2020	$867,521	$864,334	$35,033	$3,187
2019	$1,128,044	$1,286,487	$34,949	$-158,443
2018	$1,450,426	$1,613,182	$35,114	$-162,756
2017	$1,182,957	$1,172,461	$188,108	$10,496