Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $5,519,962

• 1e · Government grants (contributions)

  $4,997,129

• 1f · All other contributions, gifts and grants

  $35,425,345

• 1g · Noncash contributions included above

  $1,383,700

• 2a · Program service revenue: CONCERTS

  total $89,059,212 · related or exempt $89,059,212

• 2b · Program service revenue: CONCERTS BY OTHERS

  total $36,621,653 · related or exempt $36,621,653

• 2c · Program service revenue: CONCESSION/PARKING

  total $13,868,437 · excluded $13,868,437

• 2d · Program service revenue: BOX OFFICE SERVICE FEE

  total $5,998,600 · excluded $5,998,600

• 2e · Program service revenue: SPONSORSHIPS

  total $2,852,182 · excluded $2,852,182

• 2f · All other program service revenue

  total $1,111,938 · excluded $1,111,938

• 3 · Investment income

  total $10,584,626 · unrelated business $342,133 · excluded $10,242,493

• 7a · Gross sales of assets other than inventory

  securities $67,437,080

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

  securities $54,361,091

• 7c · Gain or loss

  securities $13,075,989

• 7d · Net gain or loss

  total $13,075,989 · excluded $13,075,989

• 8a · Fundraising events: gross income

  $779,104

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

  $5,519,962

• 8b · Fundraising events: direct expenses

  $3,538,014

• 8c · Net income from fundraising events

  total -$2,758,910 · excluded -$2,758,910

• 10a · Gross sales of inventory

  $2,162,228

• 10b · Cost of goods sold

  $1,827,864

• 10c · Net income from sales of inventory

  total $334,364 · related or exempt $290,701 · unrelated business $43,663

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $150,000 · program services $150,000

• 5 · Compensation of officers, directors and key employees

  total $8,828,933 · program services $7,456,992 · management and general $891,694 · fundraising $480,247

• 7 · Other salaries and wages

  total $67,947,520 · program services $57,562,032 · management and general $6,617,827 · fundraising $3,767,661

• 8 · Pension plan contributions

  total $4,890,000 · program services $3,870,012 · management and general $802,311 · fundraising $217,677

• 9 · Other employee benefits

  total $8,875,484 · program services $7,024,178 · management and general $1,456,216 · fundraising $395,090

• 10 · Payroll taxes

  total $5,410,512 · program services $4,281,952 · management and general $887,712 · fundraising $240,848

• 11b · Fees: legal

  total $1,004,409 · program services $94,749 · management and general $909,660

• 11c · Fees: accounting

  total $76,949 · management and general $76,949

• 11e · Fees: professional fundraising services

  total $843,451 · fundraising $843,451

• 11f · Fees: investment management

  total $998,680 · management and general $998,680

• 11g · Fees: other

  total $45,578,472 · program services $42,173,782 · management and general $3,047,679 · fundraising $357,011

• 12 · Advertising and promotion

  total $6,855,976 · program services $6,752,538 · management and general $6,402 · fundraising $97,036

• 13 · Office expenses

  total $8,525,491 · program services $6,115,209 · management and general $1,829,592 · fundraising $580,690

• 14 · Information technology

  total $2,644,570 · program services $64,990 · management and general $2,579,034 · fundraising $546

• 15 · Royalties

  total $1,084,862 · program services $983,883 · management and general $100,979

• 16 · Occupancy

  total $6,713,646 · program services $5,860,130 · management and general $853,516

• 17 · Travel

  total $5,159,689 · program services $4,863,214 · management and general $248,544 · fundraising $47,931

• 19 · Conferences, conventions and meetings

  total $60,276 · program services $23,233 · management and general $19,769 · fundraising $17,274

• 20 · Interest

  total $21 · program services $21

• 22 · Depreciation, depletion and amortization

  total $4,966,888 · program services $4,323,019 · management and general $643,869

• 23 · Insurance

  total $2,431,404 · program services $2,096,049 · management and general $335,355

• 24a · Other expenses: LEASE EVENT EXPENSE

  total $19,034,864 · program services $19,034,864

• 24b · Other expenses: EQUIPMENT RENTAL

  total $2,592,834 · program services $2,422,645 · management and general $147,128 · fundraising $23,061

• 24c · Other expenses: CREDIT CARD COMMISSIONS

  total $2,329,904 · program services $2,137,664 · fundraising $192,240

• 24d · Other expenses: SUPPLIES

  total $1,607,926 · program services $1,434,174 · management and general $139,606 · fundraising $34,146

• 24e · All other expenses

  total $1,686,091 · program services $780,909 · management and general $614,385 · fundraising $290,797

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $16,220,712 · end of year $16,636,628

• 2 · Savings and temporary cash investments

  beginning of year $3,955,115 · end of year $4,904,169

• 3 · Pledges and grants receivable

  beginning of year $30,650,931 · end of year $27,538,975

• 7 · Other notes and loans receivable

  beginning of year $15,956,119 · end of year $15,956,119

• 8 · Inventories for sale or use

  beginning of year $500,946 · end of year $451,029

• 9 · Prepaid expenses and deferred charges

  beginning of year $15,899,303 · end of year $20,274,036

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

  $93,743,736

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

  $52,990,743

• 10c · Land, buildings and equipment, net

  beginning of year $41,159,090 · end of year $40,752,993

• 11 · Investments: publicly traded securities

  beginning of year $324,742,570 · end of year $378,885,127

• 12 · Investments: other securities

  beginning of year $82,318,000 · end of year $97,897,000

• 15 · Other assets

  beginning of year $0 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $26,907,096 · end of year $32,185,525

• 19 · Deferred revenue

  beginning of year $24,080,493 · end of year $24,530,461

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $10,447,006 · end of year $10,384,114

• 27 · Net assets without donor restrictions

  beginning of year $144,262,907 · end of year $160,300,434

• 28 · Net assets with donor restrictions

  beginning of year $325,705,284 · end of year $375,895,542

The filer's explanations (Part III)

PART I, LINE 1A

QUESTIONS REGARDING COMPENSATION UNDER THE TERMS OF THE COLLECTIVE BARGAINING AGREEMENT, MEMBERS OF LOCAL 47, AMERICAN FEDERATION OF MUSICIANS (THE "MUSICIANS UNION"), RECEIVE A WEEKLY HOUSING ALLOWANCE, WHICH IS INCLUDED AS TAXABLE COMPENSATION REPORTED ON FORM W-2.

PART I, LINE 7

NON-FIXED PAYMENTS CERTAIN LISTED INDIVIDUALS RECEIVE BONUSES AT THE DISCRETION OF THE BOARD OF DIRECTORS. THESE BONUSES ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(II). COMPENSATION RECEIVED FROM UNRELATED ORGANIZATION GUSTAVO DUDAMEL RAMIREZ SERVES AS THE MUSIC & ARTISTIC DIRECTOR OF THE LA PHILHARMONIC ASSOCIATION AS A SALARIED EMPLOYEE. IN ADDITION TO THIS ROLE, MR. RAMIREZ PROVIDES SERVICES AS A CONDUCTOR TO THE ASSOCIATION. MR. RAMIREZ IS COMPENSATED FOR CONDUCTOR SERVICES THROUGH PAYMENTS TO HIS CORPORATION, EGMONT CORPORATION. THE AMOUNTS PAID TO EGMONT FOR HIS CONDUCTING SERVICES ARE INCLUDED AS COMPENSATION IN PART VII AND SCHEDULE J. THESE AMOUNTS ARE ALSO DISCLOSED IN PART VII, SECTION B AS EGMONT IS ONE OF THE ORGANIZATION'S HIGHEST PAID CONTRACTORS.