Utah Symphony & Opera FY2024 filing

Salt Lake City, UT · Public charity (501(c)(3)) · Since 1975 · Arts & Culture

✓ Tax-deductible Latest data FY2024
Revenue
$26.2M
▲ +4% vs prior year
Spent
$27.6M
To programs
87%
Net assets
$58.4M
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2024) →

Form 990 for the fiscal year ending August 2024 (IRS tax year 2023).

Figures match the IRS filing checked 8/8/26 · see original: IRS

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
5 funders, incl. John and Marcia Price Family Foundation
$620K in the latest grant year.
Spent on programs?
87% to programs
Form 990 Part IX, latest filing.
Size and trend
$10–100M
↑ +4% vs prior year
Legal name (IRS)Hdr · item CUtah Symphony & Opera
EINHdr · item D51-0145980
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFSep 1975
Year of formationHdr · item L1975
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CSalt Lake City, UT
NTEE classificationIRS BMFArts & Culture (A6A0)
WebsiteHdr · item Jusuo.org

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.87 Management & general $0.09 Fundraising $0.05
Program services87%$23.9M
Management & general9%$2.4M
Fundraising5%$1.3M
Total functional expensesLn 25$27.6M

Financial health

Revenue & expenses by yearFY2020–FY2024
Revenue
$26.2M
FY2024▲ +4%
Expenses
$27.6M
FY2024▲ +2%
Program efficiency
87%
of spending reaches programs
Operating runway
24.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
-5%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$63.0M
FY2024▲ +6%
Total liabilities
$4.6M
FY2024▼ -5%
Revenue less expensesPt I · Ln 19−$1.4M
Total assetsPt X · Ln 16$63.0M
Program-expense ratioPt IX · col B87%
Voting members of governing bodyPt I · Ln 356
Independent voting membersPt I · Ln 452

Balance Sheet

Part X · end of year
CashLn 1$2.8M
Total assetsLn 16$63.0M
Total liabilitiesLn 26$4.6M
Total net assetsLn 32$58.4M
Months of cash on handcomputed1.2

Statement of Revenue

Part VIII
Contributions & grants$15.1M · 58%
Program service revenue$7.7M · 29%
Investment income$3.2M · 12%
Other revenue$209K · 1%
Contributions & grants58%$15.1M
Program service revenue29%$7.7M
Investment income12%$3.2M
Other revenue1%$209K
— government grantsLn 1e$5.3M
Total revenueLn 12$26.2M

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $56.7M · Operating expenses (Pt IX) $27.6M · Less non-cash grants $270K · Cash operating expenses/yr $27.3M
24.9 months
Where the money goes
Program services
Program services $23.9M · Total expenses $27.6M
87%
Management & General
Management & general $2.4M · Total expenses $27.6M
9%
Fundraising
Fundraising $1.3M · Total expenses $27.6M
5%
Cost to raise $1
Fundraising expense (3-yr avg) $1.2M · Solicited contributions (3-yr avg) $9.4M
$0.13 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $15.1M · Total revenue $26.2M
58%
Government reliance
Government grants $5.3M · Total revenue $26.2M
20%
Earned-income share
Program service revenue $7.7M · Total revenue $26.2M
29%
Investment reliance
Investment income $3.2M · Total revenue $26.2M
+12%
Program self-sufficiency
Program service revenue $7.7M · Total expenses $27.6M
28%
Growth & trend
Revenue growth (YoY)
This year $26.2M · Prior year $25.1M
+4%
Revenue CAGR
FY2019 $18.8M · FY2023 $26.2M
+9%
Net-asset trend (YoY)
End of year $58.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $26.2M · Expenses $27.6M
-5%
Liabilities-to-Assets
Total liabilities — · Total assets $63.0M
—
Net-asset ratio
Net assets $58.4M · Total assets $63.0M
93%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $53.8M · Other securities (Pt X, ln 12) $7K · Total assets (Pt X, ln 16) $63.0M
85%
People & payroll
Highest Reported Total Compensation
Individual Steven Brosvik · Reported title President & CEO · Highest reported compensation $360K · Total expenses $27.6M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $18.8M · Total expenses $27.6M
68%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 87%——
Overhead ratio 9%——
Fundraising cost ratio 9%——
Revenue growth 4%——
Accounting fee ratio 0.2%——
Fundraising fee ratio 0.09%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President & CEO
$360,149Pt VII · Sec A
Concertmaster
$253,354Pt VII · Sec A
Senior VP & COO
$154,532Pt VII · Sec A
VP of Finance & CFO
$153,903Pt VII · Sec A
Musician & Orchestra Personnel Manager
$140,673Pt VII · Sec A
$140,582Pt VII · Sec A
$126,771Pt VII · Sec A
$126,280Pt VII · Sec A

Steven Brosvik’s $384K as President & CEO is at the 61st percentile of top reported officer pay among 749 $10–100M 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Steven Brosvik$384,282$360,149$356,867$327,251$171,848—
Paul Meecham————$347,030$286,562
Madeline Adkins$264,109$253,354$246,302$225,122$142,934$201,044
David Green$162,098$154,532$147,102$137,363$123,706$131,860
Steve Hogan$161,619$153,903$146,267$134,915$113,736$121,255
Kathryn Eberle$148,701$140,582$138,094$121,399$87,926$110,047
Leslie Peterson$148,297—$117,893———
Hannah Thomas-Holland$145,576$140,673————

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.

See Utah Symphony & Opera executive salaries →

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a56
Independent voting membersPt VI · Ln 1b52
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Mission and programs

Presents orchestral and operatic performances, fostering arts education and community connection.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $21.6M of program spending, described in the organization's own filed words · FY2023.
01

Code 711130 Symphonic Concerts

Utah Symphony was founded during the Great Depression as a Works Progress Administration orchestra under Roosevelt's New Deal. Today, the Utah Symphony is the premiere orchestra in the Intermountain West and one of only seventeen year-round orchestras in the nation.

$12.5Mprogram expense
02

Code 711110 Opera Performances

Utah Opera performs in Salt Lake City's Capitol Theatre, reaching an audience of over 21,000. Utah Opera offered 24 performances of four mainstage productions this year. Utah Opera has a nationally-renowned costume shop, and features some of the top singers, directors, conductors, and designers from around the country.

$5.3Mprogram expense
03

Code 711130 Deer Valley Music Festival

Currently in its twentieth season, the Deer Valley Music Festival is the summer home of the Utah Symphony | Utah Opera, reaching an audience of nearly 23,000 during the summer season. The festival provides chamber music, classical, family, and pops offerings in many venues: Deer Valley Snow Park Outdoor Amphitheater, St.

$3.8Mprogram expense

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Funders

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

Grants

Schedule I · funders on record
Grants received · FY2025
See all 5 funders →

Filing history

YearRevenueExpensesChangeFiling
FY2024 Viewing $26.2M$27.6M+4% 990 PDF
FY2023 $25.1M$26.9M+1% 990 PDF
FY2022 $24.8M$24.3M+0.7% 990 PDF
FY2021 $24.6M$17.6M+31% 990 PDF
FY2020 $18.8M$18.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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