FORT WORTH SYMPHONY ORCHESTRA ASSOCIATION

EIN: 756004761 501(c)(3) Arts, Culture & Humanities

FORT WORTH, TX

Total Revenue
$14,085,368
Total Expenses
$14,840,993
Total Assets
$39,511,874
Net Assets
$34,636,226
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1929
Legal Domicile
TX
Principal Officer
KEITH CERNY
Phone
8176656500
Tax Period
2023-08-01 to 2024-07-31

FORT WORTH SYMPHONY ORCHESTRA ASSOCIATION, founded in 1929, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $14.1M in total revenue in fiscal year 2023. Net assets of $34.6M represent 30 months of operating reserves.

Mission

PERFORM GREAT SYMPHONIC MUSIC TO EDUCATE, ENTERTAIN, AND ENHANCE LIFE.

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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 $9,916,798
Program Service Revenue $3,538,042
Investment Income $630,528
Other Revenue $0
TOTAL REVENUE $14,085,368

Expense Breakdown

Grants Paid $0
Salaries & Benefits $9,430,683
Fundraising Expenses $653,853
Program Expenses $12,214,972
Other Expenses $5,410,310
TOTAL EXPENSES $14,840,993

Year-over-Year Comparison

2023 2022 Change
Revenue $14,085,368 $13,596,752 +0.0%
Expenses $14,840,993 $15,369,127 0.0%
Net Income $-755,625 $-1,772,375 -0.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
65
Independent Members
64
Employees
392
Volunteers
157

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
8
$532,004
Total Directors
65
$331,794
Key Employees
1
$287,471
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEITH CERNY PRESIDENT & CEO 40.00
Officer Director
$325,956 $5,838 $331,794
MERCEDES T BASS CHAIRMAN OF THE BOARD 1.00
Officer Director
$0 $0 $0
MARIANNE AULD CHAIRMAN OF THE EXECUTIVE 1.00
Officer Director
$0 $0 $0
DON C PLATTSMIER TREASURER 1.00
Officer Director
$0 $0 $0
LEE HALLMAN SECRETARY 1.00
Officer Director
$0 $0 $0
AMY ROACH BAILEY DIRECTOR 1.00
Director
$0 $0 $0
DR REBECCA BEASLEY DIRECTOR 1.00
Director
$0 $0 $0
CONNIE BECK DIRECTOR 1.00
Director
$0 $0 $0
ASHLI BLUMENFELD DIRECTOR 1.00
Director
$0 $0 $0
ANNE MARI BRATTON DIRECTOR 1.00
Director
$0 $0 $0
JOHN BROUDE DIRECTOR 1.00
Director
$0 $0 $0
J BROOKS DIRECTOR 1.00
Director
$0 $0 $0
KAREN BURCHFIELD DIRECTOR 1.00
Director
$0 $0 $0
ANNE CARVALHO DIRECTOR 1.00
Director
$0 $0 $0
DR JOSEPH CECERE DIRECTOR 1.00
Director
$0 $0 $0
BRENDA CLINE DIRECTOR 1.00
Director
$0 $0 $0
DR MARY COSTAS DIRECTOR 1.00
Director
$0 $0 $0
BARBARA A COX DIRECTOR 1.00
Director
$0 $0 $0
JUANA-ROSA DANIELL DIRECTOR 1.00
Director
$0 $0 $0
TIM DANIELS DIRECTOR 1.00
Director
$0 $0 $0
DR BENGE DANIEL DIRECTOR 1.00
Director
$0 $0 $0
MITZI DAVIS DIRECTOR 1.00
Director
$0 $0 $0
DR ASAD DEAN DIRECTOR 1.00
Director
$0 $0 $0
DR TOM DEAS DIRECTOR 1.00
Director
$0 $0 $0
DR JEFFREY G DETWEILER DIRECTOR 1.00
Director
$0 $0 $0
JOSEPH DEWOODY DIRECTOR 1.00
Director
$0 $0 $0
WILLA DUNLEAVY DIRECTOR 1.00
Director
$0 $0 $0
BRANDON ELMS DIRECTOR 1.00
Director
$0 $0 $0
DR JENNIFER FREEMAN DIRECTOR 1.00
Director
$0 $0 $0
CHARLOTTE FRENCH DIRECTOR 1.00
Director
$0 $0 $0
AUBREY GIDEON DIRECTOR 1.00
Director
$0 $0 $0
PAMELA GILCHRIST DIRECTOR 1.00
Director
$0 $0 $0
GAIL ARONOFF GRANEK DIRECTOR 1.00
Director
$0 $0 $0
AARON HOWARD DIRECTOR 1.00
Director
$0 $0 $0
KIM JOHNSON DIRECTOR 1.00
Director
$0 $0 $0
DEE J KELLY JR DIRECTOR 1.00
Director
$0 $0 $0
KELLY LANCARTE DIRECTOR 1.00
Director
$0 $0 $0
MOLLIE L LASATER DIRECTOR 1.00
Director
$0 $0 $0
NICO LEONE DIRECTOR 1.00
Director
$0 $0 $0
MARY HART LIPSCOMB DIRECTOR 1.00
Director
$0 $0 $0
MISTY LOCKE DIRECTOR 1.00
Director
$0 $0 $0
KATE LUMMIS DIRECTOR 1.00
Director
$0 $0 $0
LOUELLA MARTIN DIRECTOR 1.00
Director
$0 $0 $0
PRISCILLA W MARTIN DIRECTOR 1.00
Director
$0 $0 $0
DR STUART D MCDONALD DIRECTOR 1.00
Director
$0 $0 $0
ELLEN MESSMAN DIRECTOR 1.00
Director
$0 $0 $0
JUSTIN NEWTON DIRECTOR 1.00
Director
$0 $0 $0
DANA PORTER DIRECTOR 1.00
Director
$0 $0 $0
DON REID DIRECTOR 1.00
Director
$0 $0 $0
JEAN ROACH DIRECTOR 1.00
Director
$0 $0 $0
HENRY H ROBINSON DIRECTOR 1.00
Director
$0 $0 $0
JUDE RYAN DIRECTOR 1.00
Director
$0 $0 $0
ALANN BEDFORD SAMPSON DIRECTOR 1.00
Director
$0 $0 $0
JEFF SCHMELTEKOPF DIRECTOR 1.00
Director
$0 $0 $0
DR RUSS SCHULTZ DIRECTOR 1.00
Director
$0 $0 $0
KAL SILVERBERG DIRECTOR 1.00
Director
$0 $0 $0
THOMAS L SMITH DIRECTOR 1.00
Director
$0 $0 $0
CLARE STONESIFER DIRECTOR 1.00
Director
$0 $0 $0
JONATHAN T SUDER DIRECTOR 1.00
Director
$0 $0 $0
CARLA KEMP THOMPSON DIRECTOR 1.00
Director
$0 $0 $0
DR AMY TULLY DIRECTOR 1.00
Director
$0 $0 $0
JOHN WELLS DIRECTOR 1.00
Director
$0 $0 $0
DR JAMES WILLIAMS DIRECTOR 1.00
Director
$0 $0 $0
JW WILSON DIRECTOR 1.00
Director
$0 $0 $0
GERRY WOOD DIRECTOR 1.00
Director
$0 $0 $0
AARON SHELBY LEE VP FINANCE (THRU 3/24) 40.00
Officer
$106,615 $0 $106,615
MICHELLINE MALLEY VP FINANCE (4/24-6/24) 40.00
Officer
$0 $0 $0
JACQUE CARPENTER VP HR, VP FINANCE (AS OF 7/24) 40.00
Officer
$93,595 $0 $93,595
ROBERT SPANO MUSIC DIRECTOR 40.00
Key Emp
$277,767 $9,704 $287,471
CARRIE ELLEN ADAMIAN CHIEF MARKETING OFFICER 40.00
Highest
$139,561 $4,810 $144,371
MEAGAN HEMENWAY VP OF DEVELOPMENT 40.00
Highest
$147,900 $0 $147,900
MICHAEL SHIH CONCERTMASTER 40.00
Highest
$113,561 $6,972 $120,533
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 $14,085,368 $14,840,993 $39,511,874 $-755,625
2023 $13,596,752 $15,369,127 $35,110,015 $-1,772,375
2022 $12,560,425 $14,043,876 $34,443,355 $-1,483,451
2021 $15,284,563 $11,797,608 $39,389,813 $3,486,955
2020 $9,288,160 $12,191,582 $29,120,810 $-2,903,422
2019 $12,207,345 $12,870,844 $30,233,145 $-663,499
2018 $13,118,171 $12,844,949 $33,215,738 $273,222
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