Jft Task 2

In: Business and Management

Submitted By tjones33
Words 5044
Pages 21
Utah Symphony Analysis

Financial Strengths:
The Utah Symphony received approximately 5% of its incoming from their endowment fund annually. The organization raised $3,829 in revenue from rental fees, sets, props, costumes, box office, etc. However, the symphony believes that the fundraising contributions are sufficient enough currently to allow ticket prices to remain the same as the prior year is successful. The up side is that there was a $116,308 in surplus at the end of the year.
Utah Symphony Financial weakness:
The Utah Symphony’s goal is to become stable financially stable through the raising of sufficient annual profitable. The Symphony relies too heavily on government grants. The performance revenue is only 18.5% more than government grants. Moreover, contributions are 14% higher than performance revenue, which means that the symphony relies too heavily on contributions and not enough on tickets sales.

The program expenses are $10,447,384 and are significantly high, which include salaries, benefits, and taxes. It is 60% of the total expenses. The expenses are too high, without enough revenue to keep it going. Without the aid of grants and contributions, the symphony would not be sustained. The symphony is not sustainable without contributions and government grants. Furthermore, there is $1,164,026 in bad debt expense from pledged dollars that were not paid. Unfortunately, this is potential income cannot be used to pay for the organizations expenses.
The symphony goal is to increase profitability in the future to $500K annually.

Utah Symphony Leadership weakness:
Leadership is lacking the connection with their staff and patrons alike. Thus far leadership is out of touch with performances and what the desires are of the customers. They are not attuned with their goals of raising the bar for their performances. Being in touch with the…...

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