Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $452,110

• 1d · Related organizations

  $2,291,008

• 1e · Government grants (contributions)

  $466,016

• 1f · All other contributions, gifts and grants

  $28,347,064

• 1g · Noncash contributions included above

  $1,917,029

• 2a · Program service revenue: PHILADELPHIA CONCERTS

  total $11,863,988 · related or exempt $11,863,988

• 2b · Program service revenue: TOUR CONCERTS

  total $2,932,108 · related or exempt $2,932,108

• 2c · Program service revenue: SUMMER CONCERTS

  total $2,846,291 · related or exempt $2,846,291

• 2d · Program service revenue: OUT OF TOWN CONCERTS

  total $1,832,860 · related or exempt $1,832,860

• 2e · Program service revenue: EDUCATION CONCERTS

  total $219,939 · related or exempt $219,939

• 3 · Investment income

  total $6,363,352 · unrelated business $32,849 · excluded $6,330,503

• 5 · Royalties

  total $211,475 · excluded $211,475

• 7a · Gross sales of assets other than inventory

  securities $114,364,885

• 7b · Less cost or other basis and sales expenses

  securities $91,191,476

• 7c · Gain or loss

  securities $23,173,409

• 7d · Net gain or loss

  total $23,173,409 · excluded $23,173,409

• 8a · Fundraising events: gross income

  $123,972

• 8a · Fundraising events: contributions included on line 1c

  $452,110

• 8b · Fundraising events: direct expenses

  $237,358

• 8c · Net income from fundraising events

  total -$113,386 · excluded -$113,386

• 11a · Other revenue: SHARED SERVICES INCOME

  total $2,411,108 · excluded $2,411,108

• 11b · Other revenue: EQUITY EARNINGS IN JV

  total $489,189 · related or exempt $489,189

• 11c · Other revenue: MEDIA INCOME

  total $96,643 · related or exempt $96,643

• 11d · All other revenue

  total $495,186 · related or exempt $495,186

• 11e · Other revenue, total

  $3,492,126

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $50,000 · program services $50,000

• 5 · Compensation of officers, directors and key employees

  total $4,286,846 · program services $1,811,557 · management and general $2,159,657 · fundraising $315,632

• 7 · Other salaries and wages

  total $26,334,853 · program services $20,516,589 · management and general $5,214,028 · fundraising $604,236

• 8 · Pension plan contributions

  total $2,037,424 · program services $1,491,933 · management and general $468,529 · fundraising $76,962

• 9 · Other employee benefits

  total $2,985,702 · program services $1,836,900 · management and general $1,039,038 · fundraising $109,764

• 10 · Payroll taxes

  total $2,025,299 · program services $1,422,249 · management and general $518,051 · fundraising $84,999

• 11b · Fees: legal

  total $842,721 · management and general $834,702 · fundraising $8,019

• 11c · Fees: accounting

  total $175,616 · management and general $175,616

• 11d · Fees: lobbying

  total $80,653 · fundraising $80,653

• 11e · Fees: professional fundraising services

  total $105,002 · fundraising $105,002

• 11f · Fees: investment management

  total $35,723 · management and general $35,723

• 11g · Fees: other

  total $2,074,289 · program services $522,272 · management and general $854,426 · fundraising $697,591

• 12 · Advertising and promotion

  total $1,335,316 · program services $1,334,786 · fundraising $530

• 13 · Office expenses

  total $1,089,844 · program services $214,609 · management and general $730,965 · fundraising $144,270

• 14 · Information technology

  total $2,185,209 · management and general $2,185,209

• 15 · Royalties

  total $180,644 · program services $180,644

• 16 · Occupancy

  total $3,502,617 · program services $2,963,050 · management and general $538,771 · fundraising $796

• 17 · Travel

  total $4,739,053 · program services $4,432,683 · management and general $238,402 · fundraising $67,968

• 19 · Conferences, conventions and meetings

  total $89,954 · program services $1,100 · management and general $83,241 · fundraising $5,613

• 22 · Depreciation, depletion and amortization

  total $554,422 · management and general $554,422

• 23 · Insurance

  total $455,225 · program services $189,314 · management and general $265,911

• 24a · Other expenses: ARTISTIC EXPENSES

  total $6,359,812 · program services $6,359,812

• 24b · Other expenses: BAD DEBT EXPENSE

  total $751,801 · management and general $751,801

• 24c · Other expenses: MARKETING AND PROMOTION

  total $693,141 · program services $341,613 · management and general $351,528

• 24d · Other expenses: EQUIPMENT/MUSIC RENTAL

  total $587,368 · program services $587,368

• 24e · All other expenses

  total $1,245,257 · program services $583,614 · management and general $228,159 · fundraising $433,484

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $117,573 · end of year $123,534

• 2 · Savings and temporary cash investments

  beginning of year $15,196,446 · end of year $15,018,722

• 3 · Pledges and grants receivable

  beginning of year $20,675,128 · end of year $19,540,662

• 4 · Accounts receivable

  beginning of year $4,010,159 · end of year $2,673,518

• 5 · Loans and receivables from officers and key people

  beginning of year $80,000 · end of year $60,000

• 6 · Loans and receivables from disqualified persons

  beginning of year $300,000 · end of year $200,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,752,834 · end of year $1,837,568

• 10a · Land, buildings and equipment: cost or other basis

  $14,158,658

• 10b · Land, buildings and equipment: accumulated depreciation

  $9,521,069

• 10c · Land, buildings and equipment, net

  beginning of year $4,075,014 · end of year $4,637,589

• 11 · Investments: publicly traded securities

  beginning of year $153,516,926 · end of year $175,970,591

• 12 · Investments: other securities

  beginning of year $0 · end of year $0

• 13 · Investments: program-related

  beginning of year $323,712 · end of year $812,901

• 15 · Other assets

  beginning of year $14,610,931 · end of year $13,577,391

• 17 · Accounts payable and accrued expenses

  beginning of year $3,648,267 · end of year $4,564,222

• 19 · Deferred revenue

  beginning of year $5,738,798 · end of year $5,993,361

• 25 · Other liabilities

  beginning of year $15,219,949 · end of year $14,067,177

• 27 · Net assets without donor restrictions

  beginning of year $8,561,000 · end of year $8,134,000

• 28 · Net assets with donor restrictions

  beginning of year $181,490,709 · end of year $201,693,716

The filer's explanations (Part III)

PART I, LINE 1A

AS PART OF ITS INTERNATIONAL TOURING ACTIVITIES, THE PHILADELPHIA ORCHESTRA PERFORMED CONCERTS IN VARIOUS CITIES IN EUROPE AND CANADA IN FY24. FOR CERTAIN LEGS OF THE TOUR, THE ORGANIZATION CHARTED FLIGHTS FOR THE ENTIRE TOURING PARTY BETWEEN CITIES IN EUROPE. THIS IS DONE PRIMARILY BECAUSE COMMERCIAL FLIGHTS OFTEN CANNOT ACCOMMODATE THE ENTIRE TOURING PARTY, OR BECAUSE OF COST AND TIME CONSIDERATIONS STEMMING FROM A TIGHT CONCERT SCHEDULE.

PART I, LINE 4B

MATIAS TARNOPOLSKY, IS THE PRESIDENT/CEO OF THE PHILADELPHIA ORCHESTRA ASSOCIATION (POA). AS PART OF HIS EMPLOYMENT AGREEMENT, MR. TARNOPOLSKY PARTICIPATES IN A NONQUALIFIED DEFERRED COMPENSATION PLAN. AMOUNTS ARE CREDITED TO THE PLAN EACH YEAR AND PLAN BALANCES ARE SUBJECT TO FORFEITURE AND/OR PAYMENT IF CERTAIN CONDITIONS ARE MET. AMOUNTS ACCRUED UNDER THE PLAN IN THE CURRENT YEAR OF $93,450 ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C).

PART I, LINE 6

THE ASSOCIATION MADE ADDITIONAL PAYMENTS TO THE ORCHESTRA'S MUSICIANS, SOME OF WHICH ARE BOARD MEMBERS OR CERTAIN HIGHLY PAID EMPLOYEES PURSUANT TO LANGUAGE IN THE COLLECTIVE BARGAINING AGREEMENT EFFECTIVELY ALLOCATING A PORTION OF THE POSITIVE CHANGE IN UNRESTRICTED NET ASSETS FROM OPERATING ACTIVITIES AS ADDITIONAL PAY DURING CALENDAR YEAR 2023.

PART I, LINE 7

CEO, MR. TARNOPOLSKY, HAS AN EMPLOYMENT CONTRACT CONTAINING A PERFORMANCE-BASED COMPENSATION DIRECTIVE THAT MAKES HIM ELIGIBLE TO RECEIVE A NON-FIXED PAYMENT IN ADDITION TO HIS BASE COMPENSATION. ALL ELEMENTS OF COMPENSATION INCLUDING THIS NON-FIXED PAYMENT ARE SUBJECT TO BOARD REVIEW AND APPROVAL.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• PHILADELPHIA ORCHESTRA EDUCATION SUPPORT LLC

  FACILITATE DONORS WITH EDUCATIONAL IMPROVEMENT TAX CREDIT · PA · income $0 · assets $0

  Directly controlled by PHILADELPHIA ORCHESTRA ASSOCIATION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• TICKET PHILADELPHIA

  RELATED · TICKET SALES · PA · 29.32% owned · share of income $391,963 · share of assets $3,337,846 · general or managing partner

  Directly controlled by KIMMEL CENTER