Civic Intelligence

American Composers Orchestra Inc.

990 • Fiscal year 2015 • EIN 13-2838450

Jul 01, 2014 to Jun 30, 2015 • Filed on Apr 07, 2016

244 West 54th Street No 805New York, NY 10019

(212) 977-8495

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

52nd percentile

0.07x

Higher debt load relative to assets than 52% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

51st percentile

0.10x

Higher debt load relative to revenue than 51% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Source year 2015

Net Margin

43rd percentile

1.0%

Higher net margin than 43% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

92nd percentile

$164,310

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 11.4% of source-year revenue.

2015 filings • NTEE A • $1M-$5M nonprofits • Source year 2015

Asset Growth

60th percentile

5.5%

Faster asset growth than 60% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

82nd percentile

45%

Faster revenue growth than 82% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Up

$2,150,344

Up $112,679 (+5.5%) from 2014

Net Assets

Down

$2,007,285

Down $12,954 (-0.6%) from 2014

Liabilities

Up

$143,059

Up $125,633 (+721%) from 2014

Revenue

Up

$1,440,244

Up $446,715 (+45%) from 2014

Expenses

Up

$1,425,170

Up $264,299 (+23%) from 2014

Net Income

Up

$15,074

Up $182,416 (+109%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2011: $2,318,493Liabilities 2011: $67,977Net Assets 2011: $2,250,5162011Assets 2012: $1,990,545Liabilities 2012: $304,041Net Assets 2012: $1,686,5042012Assets 2013: $2,046,829Liabilities 2013: $17,765Net Assets 2013: $2,029,0642013Assets 2014: $2,037,665Liabilities 2014: $17,426Net Assets 2014: $2,020,2392014Assets 2015: $2,150,344Liabilities 2015: $143,059Net Assets 2015: $2,007,2852015Assets 2016: $2,974,646Liabilities 2016: $73,928Net Assets 2016: $2,900,7182016Assets 2017: $2,526,528Liabilities 2017: $133,451Net Assets 2017: $2,393,0772017Assets 2018: $2,610,050Liabilities 2018: $71,057Net Assets 2018: $2,538,9932018Assets 2019: $2,900,507Liabilities 2019: $71,891Net Assets 2019: $2,828,6162019Assets 2020: $2,872,815Liabilities 2020: $72,193Net Assets 2020: $2,800,6222020Assets 2021: $3,101,076Liabilities 2021: $60,617Net Assets 2021: $3,040,4592021Assets 2022: $2,903,120Liabilities 2022: $107,480Net Assets 2022: $2,795,6402022Assets 2023: $3,274,731Liabilities 2023: $273,424Net Assets 2023: $3,001,3072023Assets 2024: $4,381,207Liabilities 2024: $263,046Net Assets 2024: $4,118,1612024Assets 2025: $4,464,538Liabilities 2025: $148,821Net Assets 2025: $4,315,7172025

Highlighted filing

2015

Assets$2,150,344
Liabilities$143,059
Net Assets$2,007,285

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,268,159Expenses 2011: $1,238,141Net Income 2011: $30,0182011Revenue 2012: $938,754Expenses 2012: $1,459,622Net Income 2012: -$520,8682012Revenue 2013: $1,519,971Expenses 2013: $1,268,828Net Income 2013: $251,1432013Revenue 2014: $993,529Expenses 2014: $1,160,871Net Income 2014: -$167,3422014Revenue 2015: $1,440,244Expenses 2015: $1,425,170Net Income 2015: $15,0742015Revenue 2016: $2,519,848Expenses 2016: $1,636,588Net Income 2016: $883,2602016Revenue 2017: $1,060,285Expenses 2017: $1,629,135Net Income 2017: -$568,8502017Revenue 2018: $1,893,698Expenses 2018: $1,717,948Net Income 2018: $175,7502018Revenue 2019: $1,696,676Expenses 2019: $1,476,559Net Income 2019: $220,1172019Revenue 2020: $1,430,584Expenses 2020: $1,372,234Net Income 2020: $58,3502020Revenue 2021: $917,167Expenses 2021: $1,006,478Net Income 2021: -$89,3112021Revenue 2022: $1,846,339Expenses 2022: $1,721,985Net Income 2022: $124,3542022Revenue 2023: $1,974,579Expenses 2023: $1,950,844Net Income 2023: $23,7352023Revenue 2024: $3,403,926Expenses 2024: $2,475,205Net Income 2024: $928,7212024Revenue 2025: $2,283,167Expenses 2025: $2,331,239Net Income 2025: -$48,0722025

Highlighted filing

2015

Revenue$1,440,244
Expenses$1,425,170
Net Income$15,074
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Apr 7, 2016
Return Version
2014v6.0
Gross Receipts
$1,599,426
Mission and Program Overview

Mission

Performance, presentation, commissioning, recording and dissemination of american music for symphony orchestra; professional development for american composers; and education activities about american music for students and the general public.

Creation, performance, preservation, and promulgation of music by american composers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,555,175$1,585,605▲ $30,430
Cash and Non-Interest-Bearing Accounts$377,078$314,115▼ $62,963
Accounts Receivable-$117,900-
Pledges and Grants Receivable$80,347$87,385▲ $7,038
Prepaid Expenses and Deferred Charges$10,753$25,360▲ $14,607
Savings and Temporary Cash Investments-$7,526-
Land, Buildings, and Equipment, Net$6,312$4,453▼ $1,859
Total Assets$2,037,665$2,150,344▲ $112,679
Other Assets Total$8,000$8,000→ $0
Liabilities
Accounts Payable and Accrued Expenses$12,476$132,068▲ $119,592
Deferred Revenue$4,950$10,910▲ $5,960
Mortgage Notes Payable Secured by Investment Property-$81-
Total Liabilities$17,426$143,059▲ $125,633
Net Assets / Fund Balance
Permanently Rstr Net Assets$1,972,928$1,832,276▼ $140,652
Temporarily Rstr Net Assets$260,945$468,266▲ $207,321
Unrestricted Net Assets$-213,634$-293,257▼ $79,623
Total Net Assets Fund Balance$2,020,239$2,007,285▼ $12,954
Total Liabilities and Net Assets / Fund Balance$2,037,665$2,150,344▲ $112,679

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,453$70,103$74,556

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$2,020,323-▲ $33,079$80,000$1,973,402
2013$1,868,566$6,000▲ $257,757$160,000$2,020,323
2012$1,796,599$82,000▲ $142,767$148,000$1,868,566
2011$1,835,206$11,995▲ $2,623$48,000$1,796,599
2010$1,684,970$1,900▲ $199,636$48,000$1,835,206
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael GellerPresident & CEOFT$141,740$22,570$164,310
Derek BermelArtistic DirectorPT$21,583-$21,583
Robert BeaserArtistic Director Laureate-$8,000-$8,000

Board Members and Trustees

NameTitle
Frederick WertheimChairman
Annette McevoyCo-chair (thru 12/14)
Astrid R BaumgardnerCo-chair (thru 12/14)
Francis ThornePresident Emeritus
James MarcusVice Chairman
Albert K WebsterDirector
Alvin SingletonDirector
Andrea LawrenceDirector
Edward ThomasDirector
Erwin RezelmanDirector
Geoffroy Van RaemdonckDirector
Gina HubbellDirector
Jesse RosenDirector
Michael GehretDirector
Paul UnderwoodDirector
Philip GlassDirector
Ralph Crispino JrDirector
Richard KesslerDirector
Steven SchleiderDirector
Tess MateoDirector
Dennis Russell DaviesMusic Director Laureate
Robert D TaiseySecretary
Anthony B CreamerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$962,269
Program Service Revenue
$416,868
Investment Income
$61,107
Other Revenue
$0
All Other Contributions
$779,999
Change in Net Assets
$15,074

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,440,244
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$14,503
Total Revenue per Audited Statements
$1,454,747
Total Revenue per Form 990
$1,440,244
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$770,661
Other Expenses$654,509
Total Fundraising Expense$82,232
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$360,150$33,825$36,036$430,011
Current Officers, Directors, Trustees, and Key Employees$111,191$81,191-$192,382
Advertising$89,910--$89,910
Payroll Taxes$52,468$3,633$1,287$57,388
Other Employee Benefits$43,801$2,759$5,680$52,240
Travel$47,620$2,519-$50,139
Occupancy$28,444$15,517$5,284$49,245
Fees for Services Accounting-$39,725-$39,725
Pension Plan Contributions$38,640--$38,640
Fees for Services Other--$25,320$25,320
Office Expenses$6,342$3,458$1,178$10,978
Other Expenses$26,956-$7,218$7,218
All Other Expenses-$6,885-$6,885
Depreciation Depletion-$2,873-$2,873
Conferences and Meetings-$2,473-$2,473
Insurance$1,231$672$229$2,132
Total Functional Expenses$1,147,408$195,530$82,232$1,425,170

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,467,701
Expenses per Audited Statements$1,425,170
Total Expenses per Form 990$1,425,170
Expenses Not Reported on Form 990$42,531
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$28,485
Fundraising Gross Income$28,485
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Benefit$69,955$28,485$2,685$25,800
Total Events$69,955$28,485$28,485$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

Draft of form 990 is reviewed by president & ceo, treasurer, and finance/audit committee, in conjunction with independent auditor. Once reviewed, the completed form 990 is distributed to all members of the board of directors prior to filing.

Form 990, Part VI, Section B, Line 12C

Bylaws require disclosure of any related party transactions on an annual basis. Any such transactions are reported to the board at regular meetings. All board members are required to sign and return a conflict of interest survey. Policies and procedures are monitored by board chair, president, treasurer and chair of the governance committee.

Form 990, Part VI, Section B, Line 15

Compensation of president & ceo is determined by consulting with board members from peer organizations, and from published data provided by non-profit arts service organizations, including the league of american orchestra, professionals for nonprofits. The board authorizes the president's compensation annually. Compensation was last adjusted in 2012. Other compensation paid to key staff positions, including artistic director, development director, and operations director, is determined by president using data from peer organizations and published data provided by the same non-profit arts service organizations.

Form 990, Part VI, Section C, Line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
American Composers Orchestra Inc
EIN
13-2838450
Phone
2129778495
Address
244 WEST 54TH STREET NO 805, NEW YORK, NY 10019

Signing Officer

Name
Michael Geller
Title
President / CEO
Phone
2129778495
Signed
2016-04-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Geller
Formed
1977
Legal Domicile
Ny
Voting Board Members
24
Independent Board Members
21
Employees
124
Volunteers
24

Preparer

Firm
Lutz and Carr Cpas Llp
Address
300 EAST 42ND STREET, NEW YORK, NY 10017
Preparer
Martin Berkowitz
Phone
2126972299
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

The income from endowment funds is used to support the organization's commissions, performances & programs. $393,773 of these funds are designated cash reserve fund, the principal of which, may be utilized for any purpose, but which must be replenished every two years

PART X, LINE 2:

Management evaluated all income tax positions, including the position that the organization is exempt from income taxes or not subject to income taxes on unrelated business income, and concluded that no disclosures relating to uncertain tax positions were required in the financial statements.

Raw XML AppendixShowing 400 of 658 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt012476
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0132068
IRS990/AccountsReceivableGrp/EOYAmt0117900
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0CREATION, PERFORMANCE, PRESERVATION, AND PROMULGATION OF MUSIC BY AMERICAN COMPOSERS.
IRS990/AdvertisingGrp/ProgramServicesAmt089910
IRS990/AdvertisingGrp/TotalAmt089910
IRS990/AllOtherContributionsAmt0779999
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt06885
IRS990/AllOtherExpensesGrp/TotalAmt06885
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0MICHAEL GELLER ACO
IRS990/BooksInCareOfDetail/PhoneNum02129778495
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0244 WEST 54TH STREET NO 805
IRS990/BooksInCareOfDetail/USAddress/CityNm0NEW YORK
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NY
IRS990/BooksInCareOfDetail/USAddress/ZIPCd010019
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0377078
IRS990/CashNonInterestBearingGrp/EOYAmt0314115
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt081191
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt0111191
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0192382
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt02473
IRS990/ConferencesMeetingsGrp/TotalAmt02473
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContriRptFundraisingEventAmt041470
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0962269
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt061107
IRS990/CYOtherExpensesAmt0654509
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0416868
IRS990/CYRevenuesLessExpensesAmt015074
IRS990/CYSalariesCompEmpBnftPaidAmt0770661
IRS990/CYTotalExpensesAmt01425170
IRS990/CYTotalFundraisingExpenseAmt082232
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt01440244
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/BOYAmt04950
IRS990/DeferredRevenueGrp/EOYAmt010910
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt02873
IRS990/DepreciationDepletionGrp/TotalAmt02873
IRS990/Desc0PERFORMANCES OF AMERICAN ORCHESTRAL MUSIC:PERFORMED FOUR CONCERTS, PLUS OPEN REHEARSALS, OF ORCHESTRAL MUSIC BY CONTEMPORARY COMPOSERS IN NEW YORK CITY AT JAZZ AT LINCOLN CENTER AND CARNEGIE HALL, AND IN WASHINGTON, DC. PROGRAMS INCLUDED THE COMMISSION AND PERFORMANCE OF SEVEN WORLD PREMIERES, ONE U.S. PREMIERE AND TWO LOCAL PREMIERES. THE CONCERTS BRING BROAD PUBLIC ATTENTION TO THE WORK OF TALENTED AMERICAN COMPOSERS. CONCERTS ATTENDED BY A DIVERSE AUDIENCE OF OVER 2000, INCLUDING STUDENTS. APPROXIMATELY 200,000 ADDITIONAL LISTENERS THROUGH RECORDINGS AND BROADCASTS.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt0124
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0927961
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt039725
IRS990/FeesForServicesAccountingGrp/TotalAmt039725
IRS990/FeesForServicesOtherGrp/FundraisingAmt025320
IRS990/FeesForServicesOtherGrp/TotalAmt025320
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt540.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt84.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt910.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt101.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt111.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt121.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt131.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt141.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt151.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt161.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt171.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt181.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt191.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt201.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt211.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt221.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt231.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt241.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt251.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd12X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd13X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd14X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd15X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd16X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd17X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd18X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd19X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd20X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd21X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd22X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd23X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd24X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd25X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
IRS990/Form990PartVIISectionAGrp/OfficerInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd7X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt522570
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt160
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt170
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt180
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt190
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt200
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt210
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt220
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt230
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt240
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt250
IRS990/Form990PartVIISectionAGrp/PersonNm0FREDERICK WERTHEIM
IRS990/Form990PartVIISectionAGrp/PersonNm1ASTRID R BAUMGARDNER
IRS990/Form990PartVIISectionAGrp/PersonNm2ANNETTE MCEVOY
IRS990/Form990PartVIISectionAGrp/PersonNm3JAMES MARCUS
IRS990/Form990PartVIISectionAGrp/PersonNm4FRANCIS THORNE
IRS990/Form990PartVIISectionAGrp/PersonNm5MICHAEL GELLER
IRS990/Form990PartVIISectionAGrp/PersonNm6ANTHONY B CREAMER
IRS990/Form990PartVIISectionAGrp/PersonNm7ROBERT D TAISEY
IRS990/Form990PartVIISectionAGrp/PersonNm8ROBERT BEASER
IRS990/Form990PartVIISectionAGrp/PersonNm9DEREK BERMEL
IRS990/Form990PartVIISectionAGrp/PersonNm10RALPH CRISPINO JR
IRS990/Form990PartVIISectionAGrp/PersonNm11DENNIS RUSSELL DAVIES
IRS990/Form990PartVIISectionAGrp/PersonNm12MICHAEL GEHRET
IRS990/Form990PartVIISectionAGrp/PersonNm13PHILIP GLASS
IRS990/Form990PartVIISectionAGrp/PersonNm14GINA HUBBELL
IRS990/Form990PartVIISectionAGrp/PersonNm15RICHARD KESSLER
IRS990/Form990PartVIISectionAGrp/PersonNm16ANDREA LAWRENCE
IRS990/Form990PartVIISectionAGrp/PersonNm17TESS MATEO
IRS990/Form990PartVIISectionAGrp/PersonNm18GEOFFROY VAN RAEMDONCK
IRS990/Form990PartVIISectionAGrp/PersonNm19ERWIN REZELMAN
IRS990/Form990PartVIISectionAGrp/PersonNm20JESSE ROSEN
IRS990/Form990PartVIISectionAGrp/PersonNm21STEVEN SCHLEIDER
IRS990/Form990PartVIISectionAGrp/PersonNm22ALVIN SINGLETON
IRS990/Form990PartVIISectionAGrp/PersonNm23EDWARD THOMAS
IRS990/Form990PartVIISectionAGrp/PersonNm24PAUL UNDERWOOD
IRS990/Form990PartVIISectionAGrp/PersonNm25ALBERT K WEBSTER
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt5141740
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt88000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt921583
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt250
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1CO-CHAIR (THRU 12/14)
IRS990/Form990PartVIISectionAGrp/TitleTxt2CO-CHAIR (THRU 12/14)
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4PRESIDENT EMERITUS
IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt6TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt7SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt8ARTISTIC DIRECTOR LAUREATE
IRS990/Form990PartVIISectionAGrp/TitleTxt9ARTISTIC DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11MUSIC DIRECTOR LAUREATE
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01977
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd01
IRS990/FundraisingAmt041470
IRS990/FundraisingDirectExpensesAmt028485
IRS990/FundraisingGrossIncomeAmt028485
IRS990/GainOrLossGrp/SecuritiesAmt021255
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt024
IRS990/GovernmentGrantsAmt0140800
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0151952
IRS990/GrossReceiptsAmt01599426
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt021
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/FundraisingAmt0229
IRS990/InsuranceGrp/ManagementAndGeneralAmt0672
IRS990/InsuranceGrp/ProgramServicesAmt01231
IRS990/InsuranceGrp/TotalAmt02132
IRS990/InvestmentIncomeGrp/ExclusionAmt039852
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt039852
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt01555175
IRS990/InvestmentsPubTradedSecGrp/EOYAmt01585605
IRS990/IRPDocumentCnt029
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt070103
IRS990/LandBldgEquipBasisNetGrp/BOYAmt06312
IRS990/LandBldgEquipBasisNetGrp/EOYAmt04453
IRS990/LandBldgEquipCostOrOtherBssAmt074556
IRS990/LegalDomicileStateCd0NY
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0130697
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0PERFORMANCE, PRESENTATION, COMMISSIONING, RECORDING AND DISSEMINATION OF AMERICAN MUSIC FOR SYMPHONY ORCHESTRA; PROFESSIONAL DEVELOPMENT FOR AMERICAN COMPOSERS; AND EDUCATIONAL ACTIVITIES ABOUT AMERICAN MUSIC FOR STUDENTS AND THE GENERAL PUBLIC.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt081
IRS990/NetAssetsOrFundBalancesBOYAmt02020239
IRS990/NetAssetsOrFundBalancesEOYAmt02007285
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt021255
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt021255
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-28028
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt05284
IRS990/OccupancyGrp/ManagementAndGeneralAmt015517
IRS990/OccupancyGrp/ProgramServicesAmt028444
IRS990/OccupancyGrp/TotalAmt049245
IRS990/OfficeExpensesGrp/FundraisingAmt01178
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03458
IRS990/OfficeExpensesGrp/ProgramServicesAmt06342
IRS990/OfficeExpensesGrp/TotalAmt010978
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt08000
IRS990/OtherAssetsTotalGrp/EOYAmt08000
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt05680
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt02759
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt043801
IRS990/OtherEmployeeBenefitsGrp/TotalAmt052240
IRS990/OtherExpensesGrp/Desc0PRESENTATION EXPENSES
IRS990/OtherExpensesGrp/Desc1PERFORMANCE HALL EXPENS
IRS990/OtherExpensesGrp/Desc2OTHER PERFORMANCE EXPEN
IRS990/OtherExpensesGrp/Desc3EVENT EXPENSES
IRS990/OtherExpensesGrp/FundraisingAmt07218
IRS990/OtherExpensesGrp/ProgramServicesAmt0211060
IRS990/OtherExpensesGrp/ProgramServicesAmt1129595
IRS990/OtherExpensesGrp/ProgramServicesAmt226956
IRS990/OtherExpensesGrp/TotalAmt0211060
IRS990/OtherExpensesGrp/TotalAmt1129595
IRS990/OtherExpensesGrp/TotalAmt226956
IRS990/OtherExpensesGrp/TotalAmt37218
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt036036
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt033825
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0360150
IRS990/OtherSalariesAndWagesGrp/TotalAmt0430011
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01287
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03633
IRS990/PayrollTaxesGrp/ProgramServicesAmt052468
IRS990/PayrollTaxesGrp/TotalAmt057388
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt038640
IRS990/PensionPlanContributionsGrp/TotalAmt038640
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt01972928
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt01832276
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt080347
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt087385
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt010753
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt025360
IRS990/PrincipalOfficerNm0MICHAEL GELLER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0711130
IRS990/ProgramServiceRevenueGrp/BusinessCd1711130
IRS990/ProgramServiceRevenueGrp/Desc0PERFORMANCE FEES
IRS990/ProgramServiceRevenueGrp/Desc1TICKET SALES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0353966
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt162902
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0353966
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt162902
IRS990/ProgSrvcAccomActy2Grp/Desc0NEW MUSIC READINGS FOR EMERGING COMPOSERS:PRESENTED NEW MUSIC READINGS FOR EMERGING COMPOSERS IN NEW YORK CITY; BUFFALO, NY; AND BERKELEY, CA. THESE PROGRAMS PROVIDED 30 YOUNG COMPOSERS WITH CAREER TRAINING AND ADVANCEMENT, THROUGH WORKSHOPS, OPEN REHEARSALS, AND PROFESSIONAL FEEDBACK. AUDIENCES ARE INTRODUCED TO NEW ARTISTIC TALENT. ARTISTS FROM UNDER-REPRESENTED BACKGROUNDS ARE PROVIDED CAREER SUPPORT.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0125948
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt045890
IRS990/ProgSrvcAccomActy3Grp/Desc0MUSIC FACTORY - MUSIC EDUCATION PROGRAM:PROVIDING IN-SCHOOL AND AFTER-SCHOOL CLASSES, WORKSHOPS AND LESSONS FOR MIDDLE- AND HIGH-SCHOOL STUDENTS IN NINE SCHOOLS AROUND NEW YORK CITY. STUDENTS UNDERTAKE INDIVIDUAL AND GROUP PROJECTS, LEARN TO COMPOSE AND PERFORM, AND BUILD MUSICAL SKILLS, WHILE ALSO ENHANCING TRANSFERABLE ABILITIES SUCH AS COMMUNICATION, ORGANIZATION, TEAMWORK, AND LISTENING SKILLS. OVER 5,900 STUDENT INTERACTIONS DURING THE YEAR.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt093499

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.46$0.15$4.32$2.28$2.33$0.05
2024Detailed filing. Detailed filing data is available for this year.$4.38$0.26$4.12$3.40$2.48$0.93
2023Detailed filing. Detailed filing data is available for this year.$3.27$0.27$3.00$1.97$1.95$0.02
2022Detailed filing. Detailed filing data is available for this year.$2.90$0.11$2.80$1.85$1.72$0.12
2021Detailed filing. Detailed filing data is available for this year.$3.10$0.06$3.04$0.92$1.01$0.09
2020Detailed filing. Detailed filing data is available for this year.$2.87$0.07$2.80$1.43$1.37$0.06
2019Detailed filing. Detailed filing data is available for this year.$2.90$0.07$2.83$1.70$1.48$0.22
2018Detailed filing. Detailed filing data is available for this year.$2.61$0.07$2.54$1.89$1.72$0.18
2017Detailed filing. Detailed filing data is available for this year.$2.53$0.13$2.39$1.06$1.63$0.57
2016Detailed filing. Detailed filing data is available for this year.$2.97$0.07$2.90$2.52$1.64$0.88
2015Detailed filing. Detailed filing data is available for this year.$2.15$0.14$2.01$1.44$1.43$0.02
2014Detailed filing. Detailed filing data is available for this year.$2.04$0.02$2.02$0.99$1.16$0.17
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.05$0.02$2.03$1.52$1.27$0.25
2012Summary only. Only limited summary data is available for this year.$1.99$0.30$1.69$0.94$1.46$0.52
2011Summary only. Only limited summary data is available for this year.$2.32$0.07$2.25$1.27$1.24$0.03