Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,480,297

• 1e · Government grants (contributions)

  $1,271,147

• 1f · All other contributions, gifts and grants

  $12,727,173

• 1g · Noncash contributions included above

  $97,184

• 2a · Program service revenue: CONCERT TICKET & FEES

  total $10,232,642 · related or exempt $10,232,642

• 3 · Investment income

  total $486,848 · excluded $486,848

• 7a · Gross sales of assets other than inventory

  securities $2,399,654

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

  securities $2,311,380

• 7c · Gain or loss

  securities $88,274

• 7d · Net gain or loss

  total $88,274 · excluded $88,274

• 8a · Fundraising events: gross income

  $157,300

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

  $1,480,297

• 8b · Fundraising events: direct expenses

  $179,068

• 8c · Net income from fundraising events

  total -$21,768 · excluded -$21,768

• 11a · Other revenue: OTHER INCOME

  total $47,913 · excluded $47,913

• 11e · Other revenue, total

  $47,913

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $10,000 · program services $10,000

• 5 · Compensation of officers, directors and key employees

  total $1,060,731 · program services $683,923 · management and general $288,426 · fundraising $88,382

• 7 · Other salaries and wages

  total $9,601,117 · program services $8,191,594 · management and general $770,883 · fundraising $638,640

• 8 · Pension plan contributions

  total $421,986 · program services $377,017 · management and general $13,448 · fundraising $31,521

• 9 · Other employee benefits

  total $1,863,896 · program services $1,710,704 · management and general $43,245 · fundraising $109,947

• 10 · Payroll taxes

  total $1,011,597 · program services $867,550 · management and general $72,866 · fundraising $71,181

• 11b · Fees: legal

  total $52,152 · management and general $52,152

• 11c · Fees: accounting

  total $30,356 · management and general $30,356

• 11f · Fees: investment management

  total $79,461 · management and general $79,461

• 11g · Fees: other

  total $3,438,527 · program services $3,018,212 · management and general $135,895 · fundraising $284,420

• 12 · Advertising and promotion

  total $1,089,379 · program services $981,802 · management and general $767 · fundraising $106,810

• 13 · Office expenses

  total $497,332 · program services $298,159 · management and general $28,689 · fundraising $170,484

• 16 · Occupancy

  total $1,090,707 · program services $943,640 · management and general $55,414 · fundraising $91,653

• 17 · Travel

  total $125,386 · program services $32,698 · management and general $36,289 · fundraising $56,399

• 22 · Depreciation, depletion and amortization

  total $230,190 · program services $92,076 · management and general $69,057 · fundraising $69,057

• 23 · Insurance

  total $23,339 · management and general $23,339

• 24a · Other expenses: PERFORMANCE EXPENSE

  total $1,507,975 · program services $1,507,416 · fundraising $559

• 24b · Other expenses: EQUIPMENT & MAINTENANC

  total $588,376 · program services $530,646 · management and general $39,258 · fundraising $18,472

• 24c · Other expenses: DUES & SUBSCRIPTIONS

  total $93,196 · program services $37,142 · management and general $43,249 · fundraising $12,805

• 24e · All other expenses

  total $174,944 · program services $37,810 · management and general $81,611 · fundraising $55,523

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,065,278 · end of year $2,960,603

• 2 · Savings and temporary cash investments

  end of year $3,408,366

• 3 · Pledges and grants receivable

  beginning of year $1,765,711 · end of year $6,772,628

• 4 · Accounts receivable

  beginning of year $1,834,254 · end of year $81,958

• 9 · Prepaid expenses and deferred charges

  beginning of year $385,698 · end of year $294,679

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

  $2,489,755

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

  $1,369,897

• 10c · Land, buildings and equipment, net

  beginning of year $1,021,910 · end of year $1,119,858

• 11 · Investments: publicly traded securities

  beginning of year $18,275,458 · end of year $90,683

• 12 · Investments: other securities

  beginning of year $743,631 · end of year $14,567,387

• 15 · Other assets

  beginning of year $176,437 · end of year $2,553,448

• 17 · Accounts payable and accrued expenses

  beginning of year $1,243,132 · end of year $1,062,578

• 19 · Deferred revenue

  beginning of year $3,657,684 · end of year $3,414,859

• 25 · Other liabilities

  beginning of year $192,268 · end of year $2,595,892

• 27 · Net assets without donor restrictions

  beginning of year $6,301,739 · end of year $5,481,888

• 28 · Net assets with donor restrictions

  beginning of year $13,873,554 · end of year $19,294,393

The filer's explanations (Part III)

PART I, LINE 1A

A. SCOTT SHOWALTER, FORMER PRESIDENT & CEO. PAYMENT FOR BUSINESS USE OF HIS RESIDENCE FOR POST CONCERT RECEPTIONS AND DONOR DINNERS. THIS IS PAID AS TAXABLE COMPENSATION. B. ISAAC THOMPSON, PRESIDENT AND CEO. HOUSING ALLOWANCE PAID MONTHLY FOR BUSINESS USE OF HIS RESIDENCE FOR DONOR AND ARTIST ENGAGEMENTS. THIS IS PAID MONTHLY AS TAXABLE COMPENSATION. C. DAVID DANZMAYR, MUSIC DIRECTOR. HOUSING ALLOWANCE PAID MONTHLY AS TAXABLE COMPENSATION.

PART I, LINE 1B

BOTH ARRANGEMENTS ABOVE ARE INCLUDED IN THE EMPLOYMENT CONTRACTS OF THE STATED EMPLOYEES. THESE ARE SIGNED BY THE BOARD OF DIRECTORS.

PART I, LINE 7

THE FORMER CEO, SCOTT SHOWALTER WAS GIVEN A DISCRETIONARY BONUS OF $50K (ALLOWED FOR IN THE EMPLOYMENT CONTRACT) IN OCTOBER, 2023. AN ADDITIONAL BONUS OF $50K WAS ACCRUED IN JUNE 2023 AND PAID IN SEPTEMBER 2023. THE CURRENT CEO, ISAAC THOMPSON, WAS GIVEN A DISCRETIONARY BONUS OF $50K (ALLOWED FOR IN THE EMPLOYMENT CONTRACT) IN AUGUST 2023.