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Nonprofiteer
← THE PALM BEACH SYMPHONY SOCIETY INC

Form 990 for tax year 2022

Filed by THE PALM BEACH SYMPHONY SOCIETY INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 15 October 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$3,556,955 changed to $3,454,374
Total expenses
$3,770,399 changed to $3,754,029
Contributions and grants received
$2,859,057 changed to $2,777,106
Program service revenue
$638,566 changed to $617,936
Total liabilities, end of year
$375,851 changed to $462,062
Net assets or fund balances, end of year
$2,352,435 changed to $2,266,224
Fundraising expenses
$334,092 changed to $317,722

Totals

Total revenue
$3,556,955
Total expenses
$3,770,399
Contributions and grants received
$2,859,057
Grants paid
$0
Program service revenue
$638,566
Investment income
$126,136
Other revenue
-$66,804
Total assets, end of year
$2,728,286
Total liabilities, end of year
$375,851
Net assets or fund balances, end of year
$2,352,435
Program services expenses (Part IX)
$2,558,572
Management and general expenses
$877,735
Fundraising expenses
$334,092
Program service expenses (Part III)
$2,558,572

Program services were 67.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $62,950

  • 1c · Fundraising events

    $587,514

  • 1f · All other contributions, gifts and grants

    $2,208,593

  • 1g · Noncash contributions included above

    $16,370

  • 2a · Program service revenue: TICKET SALES

    total $416,921 · related or exempt $416,921

  • 2b · Program service revenue: OUTREACH CONCERTS

    total $221,645 · related or exempt $221,645

  • 3 · Investment income

    total $47,892 · excluded $47,892

  • 7a · Gross sales of assets other than inventory

    securities $78,244

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

    securities $0

  • 7c · Gain or loss

    securities $78,244

  • 7d · Net gain or loss

    total $78,244 · excluded $78,244

  • 8a · Fundraising events: gross income

    $587,514

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

    $587,514

  • 8b · Fundraising events: direct expenses

    $687,818

  • 8c · Net income from fundraising events

    total -$100,304 · excluded -$100,304

  • 11a · Other revenue: ADVERTISING

    total $33,500 · excluded $33,500

  • 11e · Other revenue, total

    $33,500

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $464,876 · program services $172,443 · management and general $258,029 · fundraising $34,404

  • 7 · Other salaries and wages

    total $409,900 · program services $122,155 · management and general $240,539 · fundraising $47,206

  • 9 · Other employee benefits

    total $77,444 · program services $23,079 · management and general $45,446 · fundraising $8,919

  • 10 · Payroll taxes

    total $50,665 · program services $15,099 · management and general $29,731 · fundraising $5,835

  • 11b · Fees: legal

    total $5,563 · program services $2,317 · management and general $1,737 · fundraising $1,509

  • 11c · Fees: accounting

    total $41,163 · management and general $41,163

  • 12 · Advertising and promotion

    total $112,733 · program services $1,550 · management and general $75,760 · fundraising $35,423

  • 13 · Office expenses

    total $99,850 · program services $48,175 · management and general $22,543 · fundraising $29,132

  • 16 · Occupancy

    total $232,686 · program services $212,079 · management and general $6,754 · fundraising $13,853

  • 17 · Travel

    total $62,756 · program services $61,699 · management and general -$7,173 · fundraising $8,230

  • 24a · Other expenses: ORCHESTRA & ARTIST FEES

    total $1,174,966 · program services $1,154,300 · management and general $5,141 · fundraising $15,525

  • 24b · Other expenses: CONTRACTED SERVICES

    total $379,639 · program services $337,184 · management and general $1,883 · fundraising $40,572

  • 24c · Other expenses: EDUCATION

    total $258,748 · program services $253,363 · management and general $5,000 · fundraising $385

  • 24d · Other expenses: PROMOTION AND MARKETING

    total $245,161 · program services $68,630 · management and general $127,596 · fundraising $48,935

  • 24e · All other expenses

    total $154,249 · program services $86,499 · management and general $23,586 · fundraising $44,164

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $419,043 · end of year $240,632

  • 3 · Pledges and grants receivable

    beginning of year $50,589 · end of year $1,000

  • 4 · Accounts receivable

    beginning of year $47,075 · end of year $163,512

  • 9 · Prepaid expenses and deferred charges

    beginning of year $276,264 · end of year $7,245

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

    $12,839

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

    $12,839

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $2,267,497 · end of year $2,254,992

  • 15 · Other assets

    beginning of year $60,038 · end of year $60,905

  • 17 · Accounts payable and accrued expenses

    beginning of year $263,751 · end of year $221,458

  • 19 · Deferred revenue

    beginning of year $154,497 · end of year $154,393

  • 27 · Net assets without donor restrictions

    beginning of year $2,463,393 · end of year $2,304,528

  • 28 · Net assets with donor restrictions

    beginning of year $238,865 · end of year $47,907

Mission and programs · 2022

Mission

TO EDUCATE AND TO NUTURE THE LOCAL COMMUNITY IN CLASSICAL SYMPHONIC MUSIC THROUGH THE UTILIZATION OF ITS SYMPHONIC ORCHESTRA.

Activities or mission (Part I)

TO EDUCATE AND NURTURE THE LOCAL COMMUNITY IN CLASSICAL SYMPHONIC MUSIC.

  • PALM BEACH SYMPHONY CONTINUES ITS STRONG MOMENTUM OF GROWTH UNDER THE LEADERSHIP OF CEO DAVID MCCLYMONT. MUSIC DIRECTOR GERARD SCHWARZ LED SPIRITED PERFORMANCES OF 6 MASTERWORKS CONCERTS WITH AN ORCHESTRA THAT REACHES 90 PLAYERS, THE MARK OF A MAJOR SYMPHONY ORCHESTRA. DURING THE 2022-2023 SEASON, THE SYMPHONY SAW A 21% INCREASE IN MEMBERSHIPS AND SUBSCRIPTIONS, 48% INCREASE IN INSTRUMENT DONATIONS AND THE HIGHEST ATTENDANCE IN ALL FUNDRAISING EVENTS. PALM BEACH SYMPHONY ALSO CONTINUES TO EXPAND ITS EDUCATION AND COMMUNITY OUTREACH PROGRAMS. CHILDREN'S CONCERTS, STUDENT COACHING SESSIONS AND MASTERCLASSES, INSTRUMENT DONATIONS, AND FREE PUBLIC CONCERTS HAVE REACHED MORE THAN 60,000 STUDENTS IN RECENT YEARS. THE INSTRUMENT DONATION PROGRAM HAS NEARLY IMPACTED 8,600 STUDENTS, PROVIDED MORE THAN 280 INSTRUCTIONAL HOURS AND 95 COACHING SESSIONS AND ENGAGED WITH 137 CLASSES OF STUDENTS.

    Expenses $2,558,572 · Revenue $638,566

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mr James Borynack

    CHAIR

    Total calculated
    $0
    Hours/week
    30

  • Mr Richard Brekus

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    10

  • Mr Manley Thaler

    SECRETARY

    Total calculated
    $0
    Hours/week
    10

  • Mr John D Herrick

    TREASURER

    Total calculated
    $0
    Hours/week
    10

  • Mr David McClymont

    EXECUTIVE DIRECTOR

    Total calculated
    $344,039
    From this org
    $344,039
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $344,039
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $344,039

  • Mr Don Thompson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Mr Paul Goldner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Ms Karen Rogers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Mr Gary Lachman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Ms Carol Hays

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Mr Todd Dahlstrom

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Ms Laurie Bay

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Ms Cathleen Black

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Ms Marietta M McNulty

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Mr Gerard Schwarz

    MAESTRO

    Total calculated
    $222,846
    From this org
    $222,846
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,846
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $222,846

  • Ms Olga Vazquez

    DIRECTOR OF ARTISTIC OPERATIONS

    Total calculated
    $120,837
    From this org
    $120,837
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
15 April 2024
IRS schema version
2022v5.0
Source object
202431069349301923

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