Michigan Council for Arts and Cultural Affairs FY 2016 $5,378 $1,100 $6,478 $1,632 $35,630 $43,740 ($0) $43,740

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1 Michigan Council for Arts and Cultural Affairs Funder Report Organization Information Organization name: Orchestra Society City: State: County: NISP Discipline: NISP Institution: Grosse Pointe MI Wayne 2 - Music - Performing Group - Community NTEE: A69 - Symphony Orchestras Applicant is not audited or reviewed by an independent accounting firm. Federal ID # Year organization founded: Organization type: Fiscal year end date: DUNS # Full-time staff: Paid FTEs: (c)3 nonprofit organization 6-3 A display value of - signifies a value of less than +/-.% Total Activity Operating Revenue Earned Program Earned Non-program Total Earned Revenue Investment Revenue Contributed Revenue Total Operating Revenue Less in-kind Total Operating Revenue Less In-kind $,378 $, $6,78 $,632 $3,63 $3,7 () $3,7 $3,73 $,3 $,923 $,86 $26,28 () -9% -26% $8,2 $8,2 $,633 $3,7 () 38% 73% 6% Operating Expenses Program Fundraising General & Administrative Total Operating Expenses Less in-kind Total Operating Expenses Less In-kind $36,36 $7 $79 () () $37,7.9 $,22.3 $2,922.7 () -6% Total Operating Activity $6, -$, % $,76 96% Page of 7

2 Revenue Details Operating Revenue Earned - Program Membership revenue Performance subscriptions - full Single ticket sales Total earned - program $62 $,78 $,378 $9 $2,983 $3,73 -% -37% $8,2 38% Earned - Non-program Advertising revenue Total earned - non-program $, $, $,3 $,3 Total earned revenue $6,78 $,923 $8,2 73% Contributed Trustee & board Individual Corporate Foundation City government County government State government Federal government Tribal contributions Parent organization support In-kind operating contributions Other contributions Total contributed revenue Operating investment revenue Total operating revenue $,7 $9,3 $2, $,2 $3,6 $3,63 $,632 $3,7 $,9 $,37 $7,2 $2, $288 $26,28 $,86 2% 9% -2% - -26% -9% $,9 $8,7 $2, $6,2 $3,8 $3,7 $,633 3% -7% 2% 8% 6% Total non-operating revenue* Total revenue Total revenue less in-kind $3,7 $3,7 * This line contains: non-operating investment income, transfers & reclassifications, prior period adjustments, net assets released from restriction, non-operating contributed revenue, non-operating in kind contributions and other non-operating revenue. Page 2 of 7

3 Expense Details Personnel expenses - Operating Independent contractors $28,3 $37,69 3% $3,299-7% Total personnel expenses - Operating $28,3 $37,69 3% $3,299-7% Non-personnel expenses - Operating Advertising and promotion $, $ Dues and subscriptions $7 $233 Occupancy costs $,6 $8-7% $2, 93% Office and administration $68 $2-96% $86 3,28% Printing, postage and shipping $3, $2,669-22% $2,9-7% Royalties, rights and reproductions $6 $63 2% Productions and events costs $,8 $2,688 9% Other operating expenses $9 $ % $928 37% Total non-personnel expenses - Operating $9,3 $7,7 - $7,2 -% Total operating expenses Non-operating personnel expenses Non-operating non-personnel expenses Total expenses Total expenses less in-kind Page 3 of 7

4 Balance Sheet Assets Current assets Cash $37,28 $38,96 % Receivables Investments $2,6 $28,22 Prepaid expenses & other Total current assets $8,93 $67,27-6% $77, % Non-current investments Fixed assets (net) Other non-current assets Total non-current assets Total assets $8,93 $67,27-6% $77, % Liabilities & Net Assets Liabilities Accounts payable & other Loans & other debt Deferred revenue Total current liabilities Non-current liabilities Total liabilites Net assets Unrestricted Temporarily restricted Permanently restricted Total net assets Total liabilities & net assets $37,28 $2,6 $8,93 $8,93 $38,96 $28,22 $67,27 $67,27 % -6% -6% $3,7 $6,39 $77,63 $77,63-2% 6% % % Page of 7

5 Balance Sheet Metrics Months of Operating Cash Total working capital Current Ratio Debt Service Impact Unrestricted Net Assets Net of Property, Plant and Equipment Operating Margin Depreciation as a % of Fixed Assets Leverage Ratio 2 $8,93 % $67,27-37% $77, Months of Operating Cash represents the number of months an organization can operate at current average monthly expense levels with existing cash and cash equivalents. Cash + Cash Equivalents / (Total Expense / 2). The ratio is calculated using total numbers since this organization does not have a disaggregated balance sheet. Total Working Capital consists of the resources available for operations, and in this report is calculated as total current assets minus total current liabilities since this organization does not have a disaggregated balance sheet. This calculation of working capital may differ from your internal calculations. Adequate working capital provides financial strength and flexibility to your organization, the ability to meet obligations as they come due, and the ability to take more risks, knowing there is a cushion to fall back on Current Ratio (Current Assets divided by Current Liabilities) determintes the organization's ability to pay current debt using current assets. The higher the ratio, the more capable the organization is of paying its obligations. The ratio is calulated using unrestricted numbers only. Debt Service Impact (Total Debt Service including principal and interest divided by Total Expense) calculates the % of an organization's total expenses applied to the total debt-service burden, e.g. a mortgage). This measure can help understand the portion of the book value of an organization's fixed assets that they truly own free and clear of related obligations and depreciated value. It is calculated as Unrestricted Net Assets - (Net Fixed Assets - Mortgage Debt). Unrestricted Net Assets Net of Property, Plant and Equipment (Unrestricted Net Assets - (Net Fixed Assets - Mortgage Debt)) shows what the organization's unrestricted net assets would be if they did not own any property, or have any debts associated with that property. Because this calculation is based on unrestricted values for net assets and fixed assets, if an organization fills out a single column balance sheet and does not separate fixed assets into restricted and unrestricted categories, this value will be blank Operating Margin (Change in Net Assets divided by Total Unrestricted Operating Revenue) is a measurement of the organizations efficiency in operating, highlighting the amount of an organization's surplus or deficit. Depreciation as a % of Fixed Assets indicates the potential need for replacement or repair of fixed assets (such as buildings, furniture, office equipment, sets and props); especially significant for organizations that own a building or carry a long-term lease. Leverage Ratio (Total Debt divided by Total Unrestricted and Temporarily Restricted Assets) is a measurement of a company s efficiency in operating. Page of 7

6 Attendance In-person Participation In-person participation - paid In-person participation - free Total in-person participation % 38% 67% -88% Types of In-person Attendance Performance tickets Registrants for classes/workshops Lecture attendees Total in-person participation % 67% Attendance Ages Children (8 and under) Seniors Adults % 2 Other Participation Competition entrants Competition winners 7 7% Staffing Staff & Non-Staff Statistics Number of part-time or one-time volunteers Part-time or one-time volunteers - FTEs Independent contractors % -7 8% % Artistic Staff & Non-Staff Statistics Independent contractors that are artists 6 8% Page 6 of 7

7 Program Activity Distinct events Total events Distinct productions Total performances Distinct classes/workshops Total classes/class sessions Distinct lectures Lecture occurrences Competitions hosted Page 7 of 7