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Nonprofiteer
← THE PALM BEACH SYMPHONY SOCIETY INC

Form 990 for tax year 2023

Filed by THE PALM BEACH SYMPHONY SOCIETY INC.

Totals

Total revenue
$4,218,147
Total expenses
$3,937,920
Contributions and grants received
$3,062,735
Grants paid
$0
Program service revenue
$645,860
Investment income
$58,228
Other revenue
$451,324
Total assets, end of year
$3,745,527
Total liabilities, end of year
$870,722
Net assets or fund balances, end of year
$2,874,805
Program services expenses (Part IX)
$2,944,447
Management and general expenses
$267,683
Fundraising expenses
$725,790
Program service expenses (Part III)
$2,944,447

Program services were 74.8% 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

    $65,800

  • 1c · Fundraising events

    $588,254

  • 1e · Government grants (contributions)

    $336,842

  • 1f · All other contributions, gifts and grants

    $2,071,839

  • 2a · Program service revenue: TICKET SALES

    total $363,531 · related or exempt $363,531

  • 2b · Program service revenue: OUTREACH CONCERTS

    total $282,329 · related or exempt $282,329

  • 3 · Investment income

    total $57,827 · excluded $57,827

  • 7a · Gross sales of assets other than inventory

    securities $401

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

    securities $0

  • 7c · Gain or loss

    securities $401

  • 7d · Net gain or loss

    total $401 · excluded $401

  • 8a · Fundraising events: gross income

    $1,042,366

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

    $588,254

  • 8b · Fundraising events: direct expenses

    $660,862

  • 8c · Net income from fundraising events

    total $381,504 · excluded $381,504

  • 11a · Other revenue: ADVERTISING

    total $63,350 · excluded $63,350

  • 11b · Other revenue: MISCELLANEOUS

    total $6,470 · excluded $6,470

  • 11e · Other revenue, total

    $69,820

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $308,777 · program services $167,849 · management and general $29,981 · fundraising $110,947

  • 7 · Other salaries and wages

    total $643,338 · program services $349,713 · management and general $62,466 · fundraising $231,159

  • 9 · Other employee benefits

    total $107,277 · program services $58,315 · management and general $10,416 · fundraising $38,546

  • 10 · Payroll taxes

    total $69,775 · program services $37,929 · management and general $6,775 · fundraising $25,071

  • 11b · Fees: legal

    total $5,131 · program services $2,789 · management and general $498 · fundraising $1,844

  • 11c · Fees: accounting

    total $57,444 · program services $31,226 · management and general $5,578 · fundraising $20,640

  • 12 · Advertising and promotion

    total $308,376 · program services $167,631 · management and general $29,942 · fundraising $110,803

  • 13 · Office expenses

    total $89,307 · program services $48,330 · management and general $9,031 · fundraising $31,946

  • 16 · Occupancy

    total $241,399 · program services $171,223 · management and general $23,439 · fundraising $46,737

  • 17 · Travel

    total $46,592 · program services $25,327 · management and general $4,524 · fundraising $16,741

  • 24a · Other expenses: ORCHESTRA & ARTIST FEES

    total $1,211,539 · program services $1,178,583 · management and general $17,636 · fundraising $15,320

  • 24b · Other expenses: CONTRACTED SERVICES

    total $446,837 · program services $392,578 · management and general $48,426 · fundraising $5,833

  • 24c · Other expenses: EDUCATION

    total $281,888 · program services $247,593 · management and general $7,296 · fundraising $26,999

  • 24d · Other expenses: OTHER EXPENSES

    total $120,240 · program services $65,361 · management and general $11,675 · fundraising $43,204

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $240,632 · end of year $597,957

  • 3 · Pledges and grants receivable

    beginning of year $1,000 · end of year $500

  • 4 · Accounts receivable

    beginning of year $163,512 · end of year $265,116

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,245 · end of year $35,582

  • 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 $2,254,992 · end of year $2,621,136

  • 15 · Other assets

    beginning of year $60,905 · end of year $225,236

  • 17 · Accounts payable and accrued expenses

    beginning of year $221,458 · end of year $160,287

  • 19 · Deferred revenue

    beginning of year $240,604 · end of year $548,071

  • 25 · Other liabilities

    beginning of year $0 · end of year $162,364

  • 27 · Net assets without donor restrictions

    beginning of year $2,146,491 · end of year $2,752,252

  • 28 · Net assets with donor restrictions

    beginning of year $119,733 · end of year $122,553

Mission and programs · 2023

Mission

TO EDUCATE AND TO NURTURE 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 REMARKABLE GROWTH UNDER THE VISIONARY LEADERSHIP OF CEO DAVID MCCLYMONT. MUSIC DIRECTOR GERARD SCHWARZ LED INSPIRED PERFORMANCES DURING THE 2023-2024 SEASON, INCLUDING 6 MASTERWORKS CONCERTS SHOWCASING AN ORCHESTRA OF OVER 90 TALENTED MUSICIANS, FURTHER SOLIDIFYING ITS STATURE AS A MAJOR SYMPHONY ORCHESTRA. THIS SEASON, PALM BEACH SYMPHONY ACHIEVED A 25% INCREASE IN MEMBERSHIPS AND SUBSCRIPTIONS, A 50% INCREASE IN INSTRUMENT DONATIONS, AND RECORD-BREAKING ATTENDANCE ACROSS ALL FUNDRAISING EVENTS.THE SYMPHONY ALSO SIGNIFICANTLY EXPANDED ITS EDUCATION AND COMMUNITY OUTREACH PROGRAMS. THROUGH CHILDREN'S CONCERTS, STUDENT COACHING SESSIONS, MASTERCLASSES, INSTRUMENT DONATIONS, AND FREE PUBLIC CONCERTS, THE ORGANIZATION HAS ENGAGED WITH OVER 75,000 STUDENTS TO DATE. THROUGH THE INSTRUMENT DONATION PROGRAM, THE SYMPOHNY DONATED 210 INSTRUMENTS AND 1,025 ACCESSORIES AND PIECES OF EQUIPMENT PLUS AN ADDITIONAL 25 DECOMMISSIONED INSTRUMENTS TO ARTS ORGANIZATIONS THAT WERE TURNED INTO MUSICAL MASTERPIECES. PROVIDED 221 INSTRUCTIONAL CONTACT HOURS, HOSTED 105 COACHING SESSIONS, AND CONNECTED WITH 183 CLASSES OF STUDENTS. THE SYMPHONY REACHED 20,000 BI-WEEKLY THROUGH OUR EDUCATION AND COMMUNITY OUTREACH NEWSLETTER AND AN ADDITIONAL 10,000 PER SOCIAL MEDIA POST. THROUGH LIVE COMMUNITY OUTREACH SERVICES AND PERFORMANCES, THE SYMPHONY ENGAGED 19,422 PEOPLE. THROUGH TELEVISED AIRINGS OF CONCERTS IN SOUTH FLORIDA AND NATIONALLY, THIS POTENTIAL AUDIENCE ENAGEMENT REACH WAS OVER 151,000,000. BY CONTINUING TO INSPIRE AND EDUCATE THROUGH THE POWER OF MUSIC, PALM BEACH SYMPHONY REMAINS AN INTEGRAL PART OF THE PALM BEACH COMMUNITY.

    Expenses $2,944,447 · Revenue $645,860

As filed on the 2023 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 John D Herrick

    TREASURER

    Total calculated
    $0
    Hours/week
    10

  • Mr Don Thompson

    SECRETARY

    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

  • Mrgary Lachman6123-42824

    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

  • Ms Amy Collins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Ms Nannette Cassidy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Mr David McClymont

    CEO

    Total calculated
    $326,723
    From this org
    $310,000
    From related orgs
    $0
    Other
    $16,723
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $310,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,723
    Filer's total
    $326,723

  • Ms Olga Vazquez

    DIRECTOR OF ARTISTIC OPERA

    Total calculated
    $112,737
    From this org
    $105,994
    From related orgs
    $0
    Other
    $6,743
    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
2023
Filed
17 March 2025
IRS schema version
2023v6.0
Source object
202540769349300934

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