Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $1,850,569

• 1d · Related organizations

  $80,000

• 1e · Government grants (contributions)

  $1,278,994

• 1f · All other contributions, gifts and grants

  $3,580,809

• 2a · Program service revenue: TICKET SALES

  total $26,541,034 · related or exempt $26,541,034

• 2b · Program service revenue: COST RECOVERY REVENUE

  total $9,239,498 · related or exempt $8,978,054 · unrelated business $261,444

• 2c · Program service revenue: RENTAL INCOME

  total $3,280,551 · related or exempt $3,070,151 · unrelated business $210,400

• 2d · Program service revenue: TICKET SURCHARGE

  total $3,165,806 · related or exempt $3,165,806

• 2e · Program service revenue: TICKET PHILADELPHIA

  total $870,000 · related or exempt $870,000

• 2f · All other program service revenue

  total $1,488,261 · related or exempt $1,488,261

• 3 · Investment income

  total $5,090,466 · excluded $5,090,466

• 7a · Gross sales of assets other than inventory

  securities $3,943,796

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

  securities $3,453,927

• 7c · Gain or loss

  securities $489,869

• 7d · Net gain or loss

  total $489,869 · excluded $489,869

• 11a · Other revenue: RESTAURANT

  total $749,481 · related or exempt $0 · unrelated business $0 · excluded $749,481

• 11b · Other revenue: PARKING

  total $491,958 · related or exempt $0 · unrelated business $38,088 · excluded $453,870

• 11c · Other revenue: ADVERTISING

  total $2,500 · related or exempt $0 · unrelated business $2,500 · excluded $0

• 11d · All other revenue

  total $368,062 · related or exempt $368,062

• 11e · Other revenue, total

  $1,612,001

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,607,943 · program services $1,340,658 · management and general $267,285

• 7 · Other salaries and wages

  total $14,886,204 · program services $13,870,994 · management and general $384,834 · fundraising $630,376

• 8 · Pension plan contributions

  total $714,056 · program services $687,646 · management and general $17,059 · fundraising $9,351

• 9 · Other employee benefits

  total $2,928,952 · program services $2,712,950 · management and general $114,388 · fundraising $101,614

• 10 · Payroll taxes

  total $1,173,577 · program services $1,029,956 · management and general $87,465 · fundraising $56,156

• 11a · Fees: management

  total $1,015,441 · management and general $1,015,441

• 11b · Fees: legal

  total $765,670 · program services $168,641 · management and general $597,029

• 11c · Fees: accounting

  total $205,853 · management and general $205,853

• 11d · Fees: lobbying

  total $34,016 · fundraising $34,016

• 11f · Fees: investment management

  total $299,204 · management and general $299,204

• 11g · Fees: other

  total $383,883 · program services $34,755 · management and general $349,128

• 12 · Advertising and promotion

  total $3,903,240 · program services $3,887,107 · fundraising $16,133

• 13 · Office expenses

  total $432,824 · program services $248,015 · management and general $151,424 · fundraising $33,385

• 14 · Information technology

  total $960,973 · program services $891,204 · management and general $53,338 · fundraising $16,431

• 15 · Royalties

  total $1,283,297 · program services $1,283,297

• 16 · Occupancy

  total $5,124,896 · program services $5,124,895 · management and general $1

• 17 · Travel

  total $189,273 · program services $144,833 · management and general $42,156 · fundraising $2,284

• 19 · Conferences, conventions and meetings

  total $64,516 · program services $36,287 · management and general $27,244 · fundraising $985

• 20 · Interest

  total $295,031 · program services $295,031

• 22 · Depreciation, depletion and amortization

  total $9,134,802 · program services $9,060,868 · management and general $73,934

• 23 · Insurance

  total $1,040,883 · program services $1,040,883

• 24a · Other expenses: ARTIST/PERFORMANCE FEES

  total $14,564,245 · program services $14,564,245

• 24b · Other expenses: PROGRAMS OTHER

  total $3,485,073 · program services $3,485,073

• 24c · Other expenses: PRODUCTION & EXHIBITION

  total $1,075,730 · program services $1,075,730

• 24d · Other expenses: DUES AND SUBSCRIPTIONS

  total $78,884 · program services $52,292 · management and general $11,104 · fundraising $15,488

• 24e · All other expenses

  total $617,922 · program services $469,982 · management and general -$68,854 · fundraising $216,794

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $35,014,192 · end of year $22,199,302

• 3 · Pledges and grants receivable

  beginning of year $13,564,923 · end of year $13,078,830

• 4 · Accounts receivable

  beginning of year $824,159 · end of year $3,460,467

• 9 · Prepaid expenses and deferred charges

  beginning of year $550,533 · end of year $754,397

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

  $298,776,425

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

  $150,217,870

• 10c · Land, buildings and equipment, net

  beginning of year $153,737,360 · end of year $148,558,555

• 11 · Investments: publicly traded securities

  beginning of year $67,253,636 · end of year $70,147,167

• 12 · Investments: other securities

  beginning of year $350,785 · end of year $390,420

• 13 · Investments: program-related

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $953,789 · end of year $7,006,260

• 17 · Accounts payable and accrued expenses

  beginning of year $6,883,995 · end of year $7,386,118

• 19 · Deferred revenue

  beginning of year $12,964,651 · end of year $17,105,658

• 23 · Secured mortgages and notes payable

  beginning of year $10,157,810 · end of year $4,791,665

• 25 · Other liabilities

  beginning of year $108,823 · end of year $113,666

• 27 · Net assets without donor restrictions

  beginning of year $151,250,889 · end of year $141,686,250

• 28 · Net assets with donor restrictions

  beginning of year $90,883,209 · end of year $94,512,041

The filer's explanations (Part III)

PART I, LINE 1A

HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES THE CHIEF EXECUTIVE OFFICER ("CEO") HAS A MEMBERSHIP TO THE UNION LEAGUE OF PHILADELPHIA THAT IS USED PRINCIPALLY FOR BUSINESS PURPOSES. IF IN THE EVENT ANY PORTION OF THE EXPENSES IS CONSIDERED PERSONAL USE, THE CEO REIMBURSES THE ORGANIZATION FOR THE AMOUNT CHARGED.

PART I, LINES 4A-B

SEVERANCE THE FOLLOWING FORMER OFFICERS RECEIVED A SEVERANCE PAYMENT. THE SEVERANCE PAYMENT IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III) AS PART OF OTHER REPORTABLE COMPENSATION: EDWARD J. CAMBRON $186,037 STANLEY M. APPLEGATE $172,143 KIMMEL CENTER, INC. BOARD MEMBER AND OFFICER, 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 ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C). NO PAYMENTS WERE MADE TO MR. TARNOPOLSKY UNDER THE PLAN IN CALENDAR YEAR 2022.

PART I, LINE 5

NON-FIXED PAYMENTS CERTAIN EXECUTIVES PARTICIPATE IN AN ANNUAL INCENTIVE COMPENSATION PLAN. THE PLAN IS REVIEWED AND APPROVED ANNUALLY BY THE HUMAN RESOURCES AND COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. THIS COMMITTEE ALSO REVIEWS THE PAYOUTS UNDER THE PLAN PRIOR TO PAYMENT. PAYMENTS UNDER THE PLAN ARE DEPENDENT ON THE ACHIEVEMENT OF CERTAIN FINANCIAL AND NON-FINANCIAL GOALS ESTABLISHED FOR EACH PARTICIPANT. THE FINANCIAL GOALS INCLUDE REVENUE AND NET EARNINGS. THE INCENTIVE PAYMENTS REPORTED ON THIS 2022 FORM 990 RELATE TO COMPENSATION PAID IN CALENDAR YEAR 2022.

PART I, LINE 6

SEE ABOVE AND SCHEDULE O FOR KIMMEL CENTER'S COMPENSATION POLICY.

Disregarded entities

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

• KC BROAD ST THEATER LLC

  PERFORMING ARTS · PA · income $0 · assets $14,339,067

  Directly controlled by KIMMEL CENTER INC

Related partnerships

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

• TICKET PHILADELPHIA

  RELATED · TICKET SALES · PA · 70.78% owned · share of income $416,771 · share of assets $5,406,593 · general or managing partner

  Directly controlled by KIMMEL CENTER