SEATTLE 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

1903

Legal Domicile

Principal Officer

MARIA YANG

Phone

2062154700

Tax Period

2023-09-01 to 2024-08-31

SEATTLE SYMPHONY ORCHESTRA INC, founded in 1903, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $31.1M in total revenue in fiscal year 2023. Expenses of $37.3M exceeded revenue, resulting in a 20% operating deficit.

Mission

TO PRESENT SYMPHONIC MUSIC OF THE HIGHEST QUALITY IN A DISTINCTIVE WAY FOR THE CULTURAL ENRICHMENT, EDUCATION, ENGAGEMENT AND ENJOYMENT OF THE PEOPLE OF OUR COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $29,038,945 Revenue: $16,117,905

THE SEATTLE SYMPHONY IS ONE OF AMERICA'S LEADING ORCHESTRAS AND IS INTERNATIONALLY ACCLAIMED FOR ITS INNOVATIVE PROGRAMMING AND EXTENSIVE RECORDING HISTORY. THE 2023-2024 SEASON SAW INCREASED...

THE SEATTLE SYMPHONY IS ONE OF AMERICA'S LEADING ORCHESTRAS AND IS INTERNATIONALLY ACCLAIMED FOR ITS INNOVATIVE PROGRAMMING AND EXTENSIVE RECORDING HISTORY. THE 2023-2024 SEASON SAW INCREASED POST-PANDEMIC AUDIENCES WITH 214,827 ATTENDING IN PERSON. THAT INCLUDED 46,572 FREE OR DISCOUNTED TICKETS AND OVER 140 COMMUNITY EVENTS AND PROGRAMS TO UNDERSERVED POPULATIONS THROUGHOUT THE PUGET SOUND REGION. STREAMING SERVICES WAS AN ADDITIONAL BENEFIT TO SEATTLE SYMPHONY PLUS SUBSCRIBERS TO BE ABLE TO VIEW PROGRAMMING REMOTELY. THE SYMPHONY ALSO PROVIDED VENUE RENTALS AND STREAMING SERVICES TO OTHER ARTISTIC ORGANIZATIONS AND COMMUNITY GROUP EVENTS TAKING PLACE AT BENAROYA HALL.

Program 2

Expenses: $581,452 Revenue: $78,593

FOR EDUCATIONAL AND COMMUNITY ENGAGEMENT PROGRAMMING IN ADDITION TO DIGITAL CONTENT DELIVERED THROUGH THE STREAMING PLATFORM, ATTENDANCE IN THE 23/24 SEASON SAW 39,076 STUDENTS AND FAMILIES OVER 146 EVENTS INCLUDING OFFSITE EVENTS THROUGHOUT THE PUGET SOUND REGION. PROGRAM HIGHLIGHTS INCLUDE PRE-CONCERT TALKS, FAMILY AND TINY TOTS CONCERTS, LINK UP (AN INTERACTIVE CONCERT EXPERIENCE FOR ELEMENTARY SCHOOLS), MUSICIANS CLASSROOMS VISITS, OPEN REHEARSALS, CAREER IN THE ARTS PANELS, FREE SIDE-BY-SIDE PERFORMANCES WITH LOCAL YOUTH ORCHESTRAS AND COMMUNITY CONCERTS, FREE DAY OF MUSIC 25TH ANNIVERSARY OF BENAROYA HALL, COMMUNITY STAGES FUND AWARDEES PERFORMANCES, YOUNG ARTIST CONCERTO AUDITION AND THE YOUNG COMPOSERS WORKSHOP.

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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 $14,686,037

Program Service Revenue $16,191,212

Investment Income $218,173

Other Revenue $44,777

TOTAL REVENUE $31,140,199

Expense Breakdown

Grants Paid $350,004

Salaries & Benefits $29,074,116

Fundraising Expenses $2,486,661

Program Expenses $29,620,397

Other Expenses $7,925,719

TOTAL EXPENSES $37,349,839

Year-over-Year Comparison

	2023	2022	Change
Revenue	$31,140,199	$31,257,219	0.0%
Expenses	$37,349,839	$34,393,963	+0.1%
Net Income	$-6,209,640	$-3,136,744	+1.0%

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

627

Volunteers

432

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

$871,199

Total Directors

Key Employees

$1,103,221

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JON ROSEN	CHAIR	2.00	Officer Director	$0	$0	$0
DIENA MANN	VICE CHAIR, EQUITY	2.00	Officer Director	$0	$0	$0
JOE DAVY	VICE CHAIR, AUDIENCES	2.00	Officer Director	$0	$0	$0
DICK PAUL	VICE CHAIR, GOVERNANCE	2.00	Officer Director	$0	$0	$0
SUSAN COUGHLIN	VICE CHAIR, DEVELOPMENT	2.00	Officer Director	$0	$0	$0
SUSAN JOHANNSEN	SECRETARY	2.00	Officer Director	$0	$0	$0
YUKA SHIMIZU	TREASURER, VICE CHAIR, FINANCE	2.00	Officer Director	$0	$0	$0
SUSAN AMINI	DIRECTOR	2.00	Director	$0	$0	$0
SUE BUSKE	DIRECTOR	2.00	Director	$0	$0	$0
LESLIE CHIHULY	DIRECTOR	2.00	Director	$0	$0	$0
SAM CHO	DIRECTOR	2.00	Director	$0	$0	$0
SUSAN DETWEILER	DIRECTOR	2.00	Director	$0	$0	$0
REBECCA EBSWORTH	DIRECTOR	2.00	Director	$0	$0	$0
JERRY FARLEY	DIRECTOR	2.00	Director	$0	$0	$0
JUDITH FONG	DIRECTOR	2.00	Director	$0	$0	$0
MIMI GATES	DIRECTOR	2.00	Director	$0	$0	$0
MAURICIO GONZALEZ DE LA FUENTE	DIRECTOR THRU 02/24	2.00	Director	$0	$0	$0
LYN GRINSTEIN	DIRECTOR	2.00	Director	$0	$0	$0
SHAWN HARMON	DIRECTOR THRU 04/24	2.00	Director	$0	$0	$0
JEAN-FRANCOIS HEITZ	DIRECTOR	2.00	Director	$0	$0	$0
PARUL HOULAHAN	DIRECTOR	2.00	Director	$0	$0	$0
DANAE HOWE	DIRECTOR	2.00	Director	$0	$0	$0
DOUGLAS JACKSON	DIRECTOR	2.00	Director	$0	$0	$0
NADER KABBANI	DIRECTOR	2.00	Director	$0	$0	$0
SWIL KANIM	DIRECTOR	2.00	Director	$0	$0	$0
PAUL LEACH	DIRECTOR	2.00	Director	$0	$0	$0
CHERYL LEE	DIRECTOR	2.00	Director	$0	$0	$0
IKE LEE	DIRECTOR	2.00	Director	$0	$0	$0
DOROTHY LI	DIRECTOR	2.00	Director	$0	$0	$0
KJRISTINE R LUND	DIRECTOR	2.00	Director	$0	$0	$0
BRIAN J MARKS	DIRECTOR	2.00	Director	$0	$0	$0
BEN MARTZ	DIRECTOR	2.00	Director	$0	$0	$0
BILL MCALEER	DIRECTOR	2.00	Director	$0	$0	$0
MARSHAL MCREAL	DIRECTOR	2.00	Director	$0	$0	$0
HISAYO NAKAJIMA	DIRECTOR	2.00	Director	$0	$0	$0
NANCY NERAAS	DIRECTOR	2.00	Director	$0	$0	$0
ELISABETH SANDLER	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL SLONSKI	DIRECTOR	2.00	Director	$0	$0	$0
LYLE SNYDER	DIRECTOR	2.00	Director	$0	$0	$0
JOAN WANG	DIRECTOR	2.00	Director	$0	$0	$0
STEPHEN WHYTE	DIRECTOR	2.00	Director	$0	$0	$0
KRISHNA THIAGARAJAN	PRESIDENT & CEO	34.00	Officer	$507,666	$47,922	$555,588
CHERONNE WONG	CFO & BENAROYA HALL COO	29.00	Officer	$277,672	$37,939	$315,611
MARIA YANG	VP DEVELOPMENT	33.00	Key Emp	$277,996	$40,654	$318,650
JENNIFER ADAIR	VP & GENERAL MANAGER	34.00	Key Emp	$189,529	$30,234	$219,763
CHRISTINE WOOD	VP OF MARKETING & COMMUNICATIONS	34.00	Key Emp	$167,935	$12,328	$180,263
RAFF WILSON	VP ARTISTIC PLANNING	34.00	Key Emp	$172,976	$27,421	$200,397
PAUL JOHNSON	VP OF PEOPLE & CULTURE	34.00	Key Emp	$162,610	$21,538	$184,148
NOAH GELLER	CONCERTMASTER	40.00	Highest	$301,679	$30,686	$332,365
AARON T GORSETH	STAGE CREW LEAD	40.00	Highest	$171,797	$27,613	$199,410
EFE I BALTACIGIL	MUSICIAN	40.00	Highest	$168,375	$11,636	$180,011
ROBERT J WISEMAN	SR. DIRECTOR OF INDIVIDUAL GIVING	35.00	Highest	$167,329	$21,016	$188,345
HYERIN KIM	MUSICIAN	40.00	Highest	$164,735	$42,208	$206,943

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	$31,140,199	$37,349,839	$19,047,917	$-6,209,640
2023	$31,257,219	$34,393,963	$19,008,837	$-3,136,744
2022	$27,955,149	$29,961,061	$21,537,269	$-2,005,912
2021	$30,176,576	$18,384,431	$25,684,308	$11,792,145
2020	$30,239,580	$28,858,298	$18,857,224	$1,381,282
2019	$33,435,338	$33,247,562	$22,721,036	$187,776
2018	$32,523,849	$31,509,824	$27,164,981	$1,014,025