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Information Needed for Orchestra Financial Analysis
(November 26, 2004)

 The revised basic information required for a financial analysis of a symphony, opera or ballet association is listed below. Items 1 and 2 are absolutely essential. Items 3 and 4 are optional and nice to have but may be omitted if difficult to obtain. The fifth item is very optional and necessary only if the information is not provided in the audited financial statements. Inform the musicians that management has an obligation under Federal law to provide this information to them as a result of the not-for-profit status. If any of the following materials are not adequate, I will request more from the organization.

 (Note: Please be sure to only send me copies of these materials and keep the originals for your files. I cannot return the materials that are sent to me.)

1. Audited financial statements, including notes to those financial statements, for the previous 5-7 years if available.
2. IRS Forms 990 for the previous 5-7 years if available.
3. Orchestra and management personnel payroll and fringe benefits sheets or equivalent operating year summaries for three previous 5-7 years if available.
4. Managerial operating budgets for the previous 5-7 years if available.
5. Trustees' endowment funding reports for the previous 5-7 years if the information is not provided in the audited financial statements.
6. For all of the above items, the information should be provided for each of the corresponding years.
7. Any information provided beyond a 5-7 year time frame provides a better indication of long-terms trends and is greatly appreciated.