Irving Symphony Orchestra Association Inc

EIN: 756085542 501(c)(3) Arts, Culture & Humanities

Irving, TX

Total Revenue
$589,580
Total Expenses
$571,645
Total Assets
$56,630
Net Assets
$26,804
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1962
Legal Domicile
TX
Principal Officer
Kathrine Pennington
Phone
9728318818
Tax Period
2024-06-01 to 2025-05-31

Irving Symphony Orchestra Association Inc, founded in 1962, is a small nonprofit in the Arts, Culture & Humanities sector that reported $590K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $572K left a modest 3% surplus.

Mission

To provide artistically satisfying professional musical and educational programs for the people of irving and the surrounding region.

Program Service Accomplishments

Program 1
Expenses: $569,533 Revenue: $589,580

Six subscription concerts provided entertainment and music education to concert attendees

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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 (2024)

Revenue Breakdown

Contributions & Grants $465,576
Program Service Revenue $123,305
Investment Income $699
Other Revenue $0
TOTAL REVENUE $589,580

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $2,112
Program Expenses $569,533
Other Expenses $569,533
TOTAL EXPENSES $571,645

Year-over-Year Comparison

2024 2023 Change
Revenue $589,580 $539,896 +0.1%
Expenses $571,645 $552,957 +0.0%
Net Income $17,935 $-13,061 -2.4%
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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Governance

Voting Members
19
Independent Members
19
Employees
N/A
Volunteers
50

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
7
$0
Total Directors
22
$68,000
Key Employees
2
$68,000
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kathrine Pennington Executive Director 50.00
Director Key Emp Highest
$68,000 $0 $68,000
Hector Guzman Music Director 3.00
Director Key Emp
$0 $0 $0
Al Zapanta President-US-Mexico Educational Foundation 2.00
Director
$0 $0 $0
Kristin Anderson Director 5.00
Director
$0 $0 $0
Lisa Mazon Hultz Chair 5.00
Director
$0 $0 $0
Janet Boyce President 5.00
Officer Director
$0 $0 $0
George Cole Vice President 5.00
Officer Director
$0 $0 $0
Grace Davis Vice President 5.00
Officer Director
$0 $0 $0
Connie Dunn Vice President 5.00
Officer Director
$0 $0 $0
Sunny Bettis Secretary 5.00
Officer Director
$0 $0 $0
Thom Davis Treasurer 5.00
Officer Director
$0 $0 $0
Robert Bettis Parliamentarian 5.00
Director
$0 $0 $0
Marguerite Korkmas President Emeritus 5.00
Director
$0 $0 $0
Stacey Blackmon Director 5.00
Director
$0 $0 $0
John Bleecker Director 5.00
Director
$0 $0 $0
Jerry Dunn Director 5.00
Director
$0 $0 $0
Janie Perelman Director 5.00
Director
$0 $0 $0
Bob Shema Director 5.00
Director
$0 $0 $0
Catherine Whiteman Vice President 5.00
Officer Director
$0 $0 $0
Marilyn Willems Director 5.00
Director
$0 $0 $0
Rochelle Zapanta Director 5.00
Director
$0 $0 $0
Jimmie Chris Director 5.00
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
2025 $589,580 $571,645 $56,630 $17,935
2024 $539,896 $552,957 $44,185 $-13,061
2023 $550,588 $572,116 $44,668 $-21,528
2022 $514,656 $473,082 $69,559 $41,574
2021 $388,808 $435,041 $24,325 $-46,233
2020 $422,840 $432,882 $106,843 $-10,042
2019 $498,460 $516,710 $91,521 $-18,250
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