GRAND RAPIDS SYMPHONY FOUNDATION (EIN 814564213) - Form 990 Financial Analysis & Trantor Score

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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

2016

Legal Domicile

Principal Officer

KEITH ELDER

Phone

6164549451

Tax Period

2023-09-01 to 2024-08-31

GRAND RAPIDS SYMPHONY FOUNDATION, founded in 2016, is a small nonprofit in the Arts, Culture & Humanities sector that reported $978K in total revenue in fiscal year 2023. Revenue surged 188% from the prior year, signaling strong growth momentum. Expenses of $3.4M exceeded revenue, resulting in a 248% operating deficit.

Mission

SUPPORTS THE OPERATIONS AND PROGRAMS OF THE GRAND RAPIDS SYMPHONY SOCIETY THROUGH SUSTAINMENT OF THE ORCHESTRA'S CONCERT, MUSIC EDUCATION AND ACCESSIBILITY PROGRAMMING ACROSS WEST MICHIGAN.

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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 $6,000

Program Service Revenue $0

Investment Income $971,865

Other Revenue $0

TOTAL REVENUE $977,865

Expense Breakdown

Grants Paid $3,150,000

Salaries & Benefits $0

Fundraising Expenses $60,019

Program Expenses $3,164,890

Other Expenses $252,679

TOTAL EXPENSES $3,402,679

Year-over-Year Comparison

	2023	2022	Change
Revenue	$977,865	$339,322	+1.9%
Expenses	$3,402,679	$1,757,720	+0.9%
Net Income	$-2,424,814	$-1,418,398	+0.7%

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

N/A

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

$113,924

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEITH ELDER	PRESIDENT	2.00	Officer	$0	$11,000	$113,924
JENNIFER REMONDINO	SECRETARY	1.00	Officer Director	$0	$0	$0
LAINA MILLS	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
ROBERT COLLIER	VICE CHAIRPE	1.00	Officer Director	$0	$0	$0
MILTON ROHWER	TRUSTEE	1.00	Director	$0	$0	$0
PING LIANG	TRUSTEE	1.00	Director	$0	$0	$0
MIKE VERHULST	TRUSTEE	1.00	Director	$0	$0	$0
SUSAN VOGEL-VANDERSON	TRUSTEE	1.00	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
2024	$977,865	$3,402,679	$28,593,471	$-2,424,814
2023	$339,322	$1,757,720	$27,529,242	$-1,418,398
2022	$2,358,348	$1,397,165	$26,897,521	$961,183
2021	$2,274,103	$1,402,424	$32,466,268	$871,679
2020	$414,119	$1,456,143	$27,536,022	$-1,042,024
2019	$980,601	$1,271,011	$26,575,235	$-290,410
2018	$2,611,413	$218,845	$27,599,320	$2,392,568

GRAND RAPIDS SYMPHONY FOUNDATION