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Cincinnati Symphony Orchestra FY2020 filing

Tax-deductible

Cincinnati, OH501(c)(3)Since 1894Arts & Culture EIN 31-0537080Revenue $72.8M in FY2020

On file with the IRScincinnatisymphony.org1241 Elm St, 45202-7531 · Cincinnati, OHTax-exempt since Oct 1934Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of the Cincinnati Symphony Orchestra is to seek and share inspiration.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$2.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $29.5M a year · 45% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.1M
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Plus $224.5M in investments, Pt X · Ln 11–13
Looks good: 7.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $221K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$15.1M
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
71
of 73 voting members
Looks good: 71 of 73 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$72.8M
Spent
$30.8M
To programs
83%
Net assets
$266.0M
By yearFY2020–FY2025
Revenue
$72.8M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$72.8M
FY2021$44.4M
FY2022$55.2M
FY2023$51.1M
FY2024$53.3M
FY2025$115.8M
Expenses
$30.8M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$30.8M
FY2021$27.4M
FY2022$37.0M
FY2023$38.5M
FY2024$40.2M
FY2025$42.0M
Net assets
$266.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$266.0M
FY2021$323.8M
FY2022$292.9M
FY2023$317.1M
FY2024$359.9M
FY2025$451.5M

From the FY2020 Form 990 (year ending August 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1934.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $25.7M Management & general 12% · $3.7M Fundraising 5% · $1.5M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

81 people listed on the 990; $2.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$400,797Pt VII · Sec A
McFadden Lawson Mary
VP of Philanthropy
$266,716Pt VII · Sec A
Russell John
Pops Conductor
$215,719Pt VII · Sec A
Matsuo Stefani
Concertmaster
$214,456Pt VII · Sec A
$210,719Pt VII · Sec A
McGrath Robert
VP and General Manager
$205,290Pt VII · Sec A
Prentiss Sherri
VP of Marketing
$204,323Pt VII · Sec A
Freshwater Richard
Vice President & CFO
$174,404Pt VII · Sec A

Jonathan Martin’s $534K as President & CEO is at the 25th percentile of top reported officer pay among 53 $100M+ arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Martin Jonathan—$519,035$503,917$540,583$310,563$400,797
Jonathan Martin$534,269—————
Robert McGrath$359,078—————
McGrath Robert—$350,520$261,412$242,931$207,584$205,290
Stefani Matsuo$324,305—————
Matsuo Stefani—$313,373$292,169$259,081$245,030$214,456
Freshwater Richard—$286,938$211,813$195,184$173,860$174,404
Richard Freshwater$273,355—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Performs classical, pops, and educational orchestra concerts, also providing musical services for ballet and other arts organizations.

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Provided by the organization

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1 program · $25.7M · in their own filed words · FY2019
01

Orchestra concerts of classical works (25), pops (18), chamber (2), youth and educational (35), and other concerts (46). Additionally, the orchestra provides services to the cincinnati may festival (1) and the cincinnati ballet (25).

$25.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Dorothy Robb Perin and Harold F Poe Tr FBO the Cincinnati Symphony OrcFY2025$219K
Peter and Mary Levin Family FoundationFY2025$2K
Total grants receivedfrom 2 funders$221K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$72.8M
Ln 12
Gifts and grantsLn 1h$59.1M
Fees for servicesLn 2g$9.3M
Investment incomeLn 3$4.6M
Money outPt IX
$30.8M
Ln 25
Programscol B$25.7M
Managementcol C$3.7M
Fundraisingcol D$1.5M
Owns and owesPt X
$266.0M
net assets · Ln 32
Cash and savingsLn 1–2$19.8M
Total assetsLn 16$281.2M
LiabilitiesLn 26$15.1M
PeoplePt VI, VII
81
listed · VII A
PaidVII A10
Voting boardVI 1a73
IndependentVI 1b71
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$59.1M
Government grantsLn 1e$602K
Noncash giftsLn 1g$22.3M
Fundraising eventsLn 1c$347K
Fees for servicesLn 2g$9.3M
Investment incomeLn 3$4.6M
Gains on assetsLn 7$588K
Total revenueLn 12$72.8M
Assets in detailPt X, end of year
CashLn 1$734K
SavingsLn 2$19.0M
Cash and savings togetherLn 1–2$19.8M
InvestmentsLn 11–13$224.5M
Land, buildings, equipmentLn 10c$24.8M
Total assetsLn 16$281.2M
LiabilitiesLn 26$15.1M
Net assetsLn 32$266.0M
OperationsPt I, VI
EmployeesI 5539
VolunteersI 6160
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$18.2M$19.8M
InvestmentsLn 11–13$190.6M$224.5M
Land, buildings, equipmentLn 10c$8.8M$24.8M
Total assetsLn 16$230.0M$281.2M
LiabilitiesLn 26$15.4M$15.1M
Net assetsLn 32$214.6M$266.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.1M$918K$88K$52K
Other salaries and wagesLn 7$16.3M$14.2M$1.3M$812K
Pension plan contributionsLn 8$825K$727K$70K$28K
Other employee benefitsLn 9$2.3M$2.0M$199K$132K
Payroll taxesLn 10$1.2M$1.1M$84K$57K
Legal feesLn 11b$101K$101K
Accounting feesLn 11c$27K$27K
Professional fundraising feesLn 11e$253K$253K
Investment management feesLn 11f$348K$348K
Other fees for servicesLn 11g$2.7M$2.6M$41K$422
Advertising and promotionLn 12$888K$858K$7K$23K
Office expensesLn 13$104K$66K$37K$585
Information technologyLn 14$137K$85K$52K
OccupancyLn 16$713K$601K$105K$7K
TravelLn 17$90K$65K$24K$461
Conferences, conventions and meetingsLn 19$35K$9K$23K$2K
Depreciation, depletion and amortizationLn 22$1.1M$248K$863K$2K
InsuranceLn 23$131K$49K$81K
Other expenses (24a–d)Ln 24$2.1M$2.1M$31K$30K
All other expensesLn 24e$359K$165K$145K$49K
Total functional expensesLn 25$30.8M$25.7M$3.7M$1.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $115.8M$42.0M$73.9M$451.5M 990 PDF
FY2024 $53.3M$40.2M$13.2M$359.9M 990 PDF
FY2023 $51.1M$38.5M$12.6M$317.1M 990 PDF
FY2022 $55.2M$37.0M$18.2M$292.9M 990 PDF
FY2021 $44.4M$27.4M$17.0M$323.8M 990 PDF
FY2020 Viewing $72.8M$30.8M$42.1M$266.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $72,846,957 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $22,892,463$59,118,500
I-9 Program service revenuePrior year $10,126,142$9,252,222
I-10 Investment incomePrior year $10,018,597$4,585,233
I-11 Other revenuePrior year $72,430−$108,998
I-12 Total revenuePrior year $43,109,632$72,846,957
I-13 Grants and similar amounts paidPrior year $1,085,750$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $21,979,808$21,678,233
I-16a Professional fundraising feesPrior year $107,387$253,161
I-17 Other expensesPrior year $10,115,880$8,857,470
I-18 Total expensesPrior year $33,288,825$30,788,864
I-19 Revenue less expensesPrior year $9,820,807$42,058,093
Part VI · Governance 71 of 73 board members independent, no flags
VI-1a Voting members of the governing body73
VI-1b Independent voting members71
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $72,846,957 across 12 lines filed
Lines not itemized here account for $14,285 of total revenue; see the IRS return.
VIII-1c Fundraising events$347,498
VIII-1d Related organizations$6,723,193
VIII-1e Government grants$602,400
VIII-1f All other contributions, gifts and grants$51,445,409
VIII-1g Noncash contributions (included above)$22,344,859
VIII-1h Total contributions, gifts and grants$59,118,500
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $9,252,222$9,252,222
VIII-3 Investment incomeExcluded from tax $3,997,524$3,997,524
VIII-5 RoyaltiesExcluded from tax $37,477$37,477
VIII-7 Net gain or loss on sales of assetsExcluded from tax $587,709$587,709
VIII-8 Net income from fundraising eventsExcluded from tax −$160,760−$160,760
VIII-12 Total revenueRelated to mission $9,266,507 · Unrelated business $0 · Excluded from tax $4,461,950$72,846,957
Part IX · Statement of functional expenses $30,788,864 across 20 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $918,433 · Management $87,584 · Fundraising $52,464$1,058,481
IX-7 Other salaries and wagesPrograms $14,154,331 · Management $1,345,104 · Fundraising $812,033$16,311,468
IX-8 Pension plan contributionsPrograms $726,967 · Management $69,759 · Fundraising $28,084$824,810
IX-9 Other employee benefitsPrograms $1,956,197 · Management $198,909 · Fundraising $131,822$2,286,928
IX-10 Payroll taxesPrograms $1,055,314 · Management $83,775 · Fundraising $57,457$1,196,546
IX-11b Legal feesManagement $101,042$101,042
IX-11c Accounting feesManagement $26,809$26,809
IX-11e Professional fundraising feesFundraising $253,161$253,161
IX-11f Investment management feesManagement $348,232$348,232
IX-11g Other fees for servicesPrograms $2,643,042 · Management $41,207 · Fundraising $422$2,684,671
IX-12 Advertising and promotionPrograms $857,836 · Management $7,150 · Fundraising $23,362$888,348
IX-13 Office expensesPrograms $66,036 · Management $37,127 · Fundraising $585$103,748
IX-14 Information technologyPrograms $85,103 · Management $51,747$136,850
IX-16 OccupancyPrograms $600,570 · Management $104,763 · Fundraising $7,483$712,816
IX-17 TravelPrograms $65,455 · Management $23,868 · Fundraising $461$89,784
IX-19 Conferences, conventions and meetingsPrograms $9,041 · Management $23,418 · Fundraising $2,445$34,904
IX-22 Depreciation, depletion and amortizationPrograms $248,031 · Management $862,572 · Fundraising $1,732$1,112,335
IX-23 InsurancePrograms $49,322 · Management $81,418$130,740
IX-24 Other expenses (24a–d)Programs $2,066,632 · Management $31,023 · Fundraising $30,339$2,127,994
IX-24e All other expensesPrograms $165,030 · Management $145,016 · Fundraising $49,151$359,197
IX-25 Total functional expensesPrograms $25,667,340 · Management $3,670,523 · Fundraising $1,451,001$30,788,864
Part X · Balance sheet $281,171,666 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $1,146,869$734,203
X-2 Savings and temporary cash investmentsStart of year $17,056,552$19,048,036
X-3 Pledges and grants receivableStart of year $9,114,553$9,407,110
X-4 Accounts receivableStart of year $1,706,235$1,481,419
X-8 Inventories for sale or useStart of year $52,159$71,128
X-9 Prepaid expenses and deferred chargesStart of year $1,448,215$1,043,188
X-10c Land, buildings and equipment, netStart of year $8,836,794$24,844,600
X-11 Publicly traded securitiesStart of year $190,607,364$224,541,982
X-16 Total assetsStart of year $229,968,741$281,171,666
X-17 Accounts payable and accrued expensesStart of year $1,656,043$4,334,366
X-19 Deferred revenueStart of year $4,652,439$2,823,879
X-25 Other liabilitiesStart of year $9,057,038$7,988,394
X-26 Total liabilitiesStart of year $15,365,520$15,146,639
X-27 Net assets without donor restrictionsStart of year $65,921,232$70,217,200
X-28 Net assets with donor restrictionsStart of year $148,681,989$195,807,827
X-32 Total net assets or fund balancesStart of year $214,603,221$266,025,027
X-33 Total liabilities and net assetsStart of year $229,968,741$281,171,666
Part XI · Reconciliation of net assets $266,025,027 net assets at year end
XI-1 Total revenue$72,846,957
XI-2 Total expenses$30,788,864
XI-3 Revenue less expenses$42,058,093
XI-4 Net assets at start of year$214,603,221
XI-5 Net unrealized gains (losses) on investments$6,297,488
XI-9 Other changes in net assets$3,066,225
XI-10 Net assets at end of year$266,025,027

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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