Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $746,729

• 1d · Related organizations

  $3,270,047

• 1e · Government grants (contributions)

  $1,175,000

• 1f · All other contributions, gifts and grants

  $22,062,136

• 1g · Noncash contributions included above

  $3,214,741

• 2a · Program service revenue: PHILADELPHIA CONCERTS

  total $12,164,750 · related or exempt $12,164,750

• 2b · Program service revenue: SUMMER CONCERTS

  total $3,032,334 · related or exempt $3,032,334

• 2c · Program service revenue: TOUR CONCERTS

  total $2,469,000 · related or exempt $2,469,000

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

  total $450,000 · related or exempt $450,000

• 2e · Program service revenue: EDUCATION CONCERTS

  total $263,928 · related or exempt $263,928

• 3 · Investment income

  total $6,223,590 · excluded $6,223,590

• 5 · Royalties

  total $137,205 · excluded $137,205

• 7a · Gross sales of assets other than inventory

  securities $35,068,681

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

  securities $23,080,413

• 7c · Gain or loss

  securities $11,988,268

• 7d · Net gain or loss

  total $11,988,268 · excluded $11,988,268

• 8a · Fundraising events: gross income

  $271,154

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

  $746,729

• 8b · Fundraising events: direct expenses

  $348,697

• 8c · Net income from fundraising events

  total -$77,543 · excluded -$77,543

• 11a · Other revenue: EQUITY EARNINGS IN JV

  total $787,754 · related or exempt $787,754

• 11b · Other revenue: CONCERT EXPENSE REIMB

  total $130,311 · related or exempt $130,311

• 11c · Other revenue: MEDIA INCOME

  total $59,701 · related or exempt $59,701

• 11d · All other revenue

  total $90,291 · related or exempt $90,291

• 11e · Other revenue, total

  $1,068,057

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $2,676,625 · program services $1,606,093 · management and general $977,655 · fundraising $92,877

• 7 · Other salaries and wages

  total $27,727,769 · program services $22,387,887 · management and general $3,894,211 · fundraising $1,445,671

• 8 · Pension plan contributions

  total $2,784,829 · program services $2,390,263 · management and general $297,144 · fundraising $97,422

• 9 · Other employee benefits

  total $2,951,673 · program services $2,061,203 · management and general $669,258 · fundraising $221,212

• 10 · Payroll taxes

  total $2,093,969 · program services $1,640,811 · management and general $336,800 · fundraising $116,358

• 11b · Fees: legal

  total $556,563 · program services $15,470 · management and general $525,793 · fundraising $15,300

• 11c · Fees: accounting

  total $147,781 · management and general $147,781

• 11d · Fees: lobbying

  total $129,500 · fundraising $129,500

• 11e · Fees: professional fundraising services

  total $26,547 · fundraising $26,547

• 11f · Fees: investment management

  total $99,426 · management and general $99,426

• 11g · Fees: other

  total $1,539,970 · program services $338,321 · management and general $875,126 · fundraising $326,523

• 12 · Advertising and promotion

  total $1,673,711 · program services $1,658,384 · management and general $14,825 · fundraising $502

• 13 · Office expenses

  total $939,836 · program services $205,034 · management and general $644,803 · fundraising $89,999

• 14 · Information technology

  total $510,765 · management and general $510,765

• 15 · Royalties

  total $205,181 · program services $205,181

• 16 · Occupancy

  total $3,087,431 · program services $2,773,130 · management and general $302,967 · fundraising $11,334

• 17 · Travel

  total $2,697,329 · program services $2,521,138 · management and general $145,579 · fundraising $30,612

• 19 · Conferences, conventions and meetings

  total $41,266 · program services $767 · management and general $39,534 · fundraising $965

• 20 · Interest

  total $288 · program services $288

• 22 · Depreciation, depletion and amortization

  total $628,563 · management and general $628,563

• 23 · Insurance

  total $500,619 · program services $793 · management and general $499,826

• 24a · Other expenses: ARTISTIC EXPENSES

  total $5,241,464 · program services $5,241,464

• 24b · Other expenses: POKC MANAGEMENT FEE

  total $1,469,643 · management and general $1,469,643

• 24c · Other expenses: MARKETING & PROMOTION

  total $791,371 · program services $557,582 · management and general $233,789

• 24d · Other expenses: EQUIPMENT/MUSIC RENTAL

  total $293,501 · program services $293,501

• 24e · All other expenses

  total $1,113,687 · program services $399,374 · management and general $410,273 · fundraising $304,040

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $123,534 · end of year $198,341

• 2 · Savings and temporary cash investments

  beginning of year $15,018,722 · end of year $12,837,994

• 3 · Pledges and grants receivable

  beginning of year $19,540,662 · end of year $16,254,828

• 4 · Accounts receivable

  beginning of year $2,673,518 · end of year $2,284,080

• 5 · Loans and receivables from officers and key people

  beginning of year $60,000

• 6 · Loans and receivables from disqualified persons

  beginning of year $200,000 · end of year $100,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,837,568 · end of year $1,549,549

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

  $14,219,728

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

  $10,149,632

• 10c · Land, buildings and equipment, net

  beginning of year $4,637,589 · end of year $4,070,096

• 11 · Investments: publicly traded securities

  beginning of year $175,970,591 · end of year $193,359,576

• 12 · Investments: other securities

  beginning of year $0 · end of year $0

• 13 · Investments: program-related

  beginning of year $812,901 · end of year $1,239,579

• 15 · Other assets

  beginning of year $13,577,391 · end of year $11,558,352

• 17 · Accounts payable and accrued expenses

  beginning of year $4,564,222 · end of year $3,310,245

• 19 · Deferred revenue

  beginning of year $5,993,361 · end of year $6,831,306

• 25 · Other liabilities

  beginning of year $14,067,177 · end of year $13,376,438

• 27 · Net assets without donor restrictions

  beginning of year $8,134,000 · end of year $6,911,000

• 28 · Net assets with donor restrictions

  beginning of year $201,693,716 · end of year $213,023,406

The filer's explanations (Part III)

PART I, LINE 1A

AS PART OF ITS DOMESTIC TOURING ACTIVITIES IN CY25, THE PHILADELPHIA ORCHESTRA CHARTED A FLIGHT FOR THE ARTISTIC AND MUSIC DIRECTOR (AN OFFICER OF POKC). THIS WAS DONE BECAUSE NO COMMERCIAL FLIGHT COULD ACCOMMODATE THE TIME CONSIDERATIONS STEMMING FROM A TIGHT REHEARSAL AND CONCERT SCHEDULE.

PART I, LINE 3

THE ORCHESTRA DOES NOT HAVE ANY PAID EMPLOYEES; ALL COMPENSATION TO THE OFFICERS REPORTED ON PART VII OF THE FORM 990 WAS PAID BY A RELATED ORGANIZATION, THE PHILADELPHIA ORCHESTRA AND KIMMEL CENTER, INC. (POKC). POKC UNDERTAKES A THOROUGH PROCESS TO ENSURE THAT THE EXECUTIVE COMPENSATION IT PAYS TO ITS TOP MANAGEMENT OFFICIALS AND ALL OF ITS OFFICERS AND KEY EMPLOYEES OF THE ASSOCIATION IS REASONABLE GIVEN THE MARKET IN WHICH THE ASSOCIATION OPERATES. POKC CHECKS THE FOLLOWING BOXES FOR QUESTION 3 ON ITS FORM 990: COMPENSATION COMMITTEE FORM 990 OF OTHER ORGANIZATIONS WRITTEN EMPLOYMENT CONTRACT COMPENSATION SURVEY OR STUDY APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE IN RELEVANT PART, POKC'S BOARD OF TRUSTEES HAS ESTABLISHED A COMPENSATION COMMITTEE OF INDEPENDENT PERSONS THAT HAVE NO PERSONAL INTEREST IN THE PROPOSED COMPENSATION AGREEMENT. THE COMPENSATION COMMITTEE OBTAINS A MARKET ASSESSMENT AND COMPETITIVE POSITION ANALYSIS FOR THE ORGANIZATION'S TOP EXECUTIVES. THE COMPENSATION COMMITTEE WILL THEN SET THE COMPENSATION FOR THE RELEVANT EXECUTIVE AND DOCUMENT THE DECISION IN BOARD MINUTES. APPLICABLE DOCUMENTS, EMAILS AND OTHER WRITINGS CREATED CONTEMPORANEOUSLY WERE USED AS THE BASIS FOR THE SELECTION AND COMPENSATION DECISIONS.

PART I, LINE 4B

THE PHILADELPHIA ORCHESTRA ASSOCIATION BOARD MEMBER AND OFFICER, MATIAS TARNOPOLSKY, WAS THE PRESIDENT/CEO OF THE PHILADELPHIA ORCHESTRA AND KIMMEL CENTER, INC. (POKC) UNTIL DECEMBER 2024. AS PART OF HIS EMPLOYMENT AGREEMENT, MR. TARNOPOLSKY PARTICIPATED IN POKC'S 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. NO PAYMENTS WERE MADE TO MR. TARNOPOLSKY UNDER THE PLAN IN CALENDAR YEAR 2024. MR. TARNOPOLSKY TERMINATED IN DECEMBER 2024. $486,000 WAS FORFEITED FROM THIS PLAN IN JANUARY 2025.

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 $193,393 · share of assets $3,447,106 · general or managing partner

  Directly controlled by KIMMEL CENTER