Civic Intelligence

The Carnegie Hall Society Inc

EIN 13-6136259 • 501(c)3 • New York, NY

Profile

The carnegie hall society's mission is to collect and provide funds for the perpetuation, maintenance, and use of carnegie hall's activities in music performance and education. Because these activities are conducted by the carnegie hall corporation, a related 501(c)(3)organization, this 990 return should be read in conjunction with the 990 return of the corporation.

881 Seventh AvenueNew York, NY 10019

www.carnegiehall.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2017

Liabilities / Revenue

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $100M-$250M nonprofits • Source year 2017

Net Margin

97th percentile

74%

Higher net margin than 97% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

92nd percentile

$2,039,321

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 3.9% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2017

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

9th percentile

-21%

Faster revenue growth than 9% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Assets

Down

$0

Down $357,306,477 (-100%) from 2016

Liabilities

Down

$0

Down $109,082,928 (-100%) from 2016

Net Assets

Down

$0

Down $248,223,549 (-100%) from 2016

Revenue

Down

$51,758,200

Down $14,073,394 (-21%) from 2016

Expenses

Down

$13,497,370

Down $40,610,478 (-75%) from 2016

Net Income

Up

$38,260,830

Up $26,537,084 (+226%) from 2016

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600M$400M$200M$0Assets 2010: $369,241,137Liabilities 2010: $110,497,142Net Assets 2010: $258,743,9952010Assets 2011: $371,589,583Liabilities 2011: $110,504,830Net Assets 2011: $261,084,7532011Assets 2012: $335,956,603Liabilities 2012: $110,512,516Net Assets 2012: $225,444,0872012Assets 2013: $369,959,025Liabilities 2013: $110,470,902Net Assets 2013: $259,488,1232013Assets 2014: $400,839,097Liabilities 2014: $110,511,616Net Assets 2014: $290,327,4812014Assets 2015: $364,208,796Liabilities 2015: $110,453,443Net Assets 2015: $253,755,3532015Assets 2016: $357,306,477Liabilities 2016: $109,082,928Net Assets 2016: $248,223,5492016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2017

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100M$50M$0-$50M-$100MExpenses 2010: $68,215,5722010Revenue 2011: $50,211,313Expenses 2011: $87,054,389Net Income 2011: -$36,843,0762011Expenses 2012: $82,004,9222012Expenses 2013: $68,259,0652013Revenue 2014: $46,476,715Expenses 2014: $69,929,015Net Income 2014: -$23,452,3002014Revenue 2015: $38,373,747Expenses 2015: $90,568,137Net Income 2015: -$52,194,3902015Revenue 2016: $65,831,594Expenses 2016: $54,107,848Net Income 2016: $11,723,7462016Revenue 2017: $51,758,200Expenses 2017: $13,497,370Net Income 2017: $38,260,8302017

Highlighted filing

2017

Revenue$51,758,200
Expenses$13,497,370
Net Income$38,260,830

Filings

Latest Detailed Filing

The latest 2017 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2016 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 14, 2017
Return Version
2015v3.0
Gross Receipts
$136,476,618
Mission and Program Overview

Mission

The carnegie hall society's mission is to collect and provide funds for the perpetuation, maintenance, and use of carnegie hall's activities in music performance and education. Because these activities are conducted by the carnegie hall corporation, a related 501(c)(3)organization, this 990 return should be read in conjunction with the 990 return of the corporation.

To collect and provide funds for the perpetuation, maintenance, and use of carnegie hall's activities in music performance and education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$96,405,199$177,897,463▲ $81,492,264
Investments in Publicly Traded Securities$237,891,314$124,310,595▼ $113,580,719
Pledges and Grants Receivable$23,874,510$46,697,238▲ $22,822,728
Cash and Non-Interest-Bearing Accounts$4,598,426$8,306,975▲ $3,708,549
Prepaid Expenses and Deferred Charges$1,439,347$94,206▼ $1,345,141
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$364,208,796$357,306,477▼ $6,902,319
Other Assets Total$0$0→ $0
Liabilities
Tax Exempt Bond Liabilities$109,812,303$108,535,823▼ $1,276,480
Accounts Payable and Accrued Expenses$547,074$452,312▼ $94,762
Deferred Revenue$94,066$94,206▲ $140
Other Liabilities$0$587▲ $587
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$110,453,443$109,082,928▼ $1,370,515
Net Assets / Fund Balance
Permanently Rstr Net Assets$182,379,223$187,275,813▲ $4,896,590
Temporarily Rstr Net Assets$143,845,068$136,608,519▼ $7,236,549
Unrestricted Net Assets$-72,468,938$-75,660,783▼ $3,191,845
Total Net Assets Fund Balance$253,755,353$248,223,549▼ $5,531,804
Total Liabilities and Net Assets / Fund Balance$364,208,796$357,306,477▼ $6,902,319

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$26,295,894--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$305,587,782$4,896,590▼ $14,313,545$17,500,000$278,670,827
2014$308,240,967$322,790▲ $13,724,025$16,700,000$305,587,782
2013$270,393,260$203,285▲ $53,144,422$15,500,000$308,240,967
2012$249,340,602$322,971▲ $35,329,687$14,600,000$270,393,260
2011$261,307,558$1,889,256▼ $1,456,212$12,400,000$249,340,602
Compensation and Service Providers

Board Members and Trustees

NameTitle
Robert F SmithChairman Since June 2016
Ronald O PerelmanPast Chair Stepped Down 1/2016
Sanford I WeillPresident
Mercedes T BassActing Chairman/vice Chairman
Burton P ResnickVice Chairman
Clarissa Alcock BronfmanVice Chairman
Klaus JacobsVice Chairman
Peter W MayVice Chairman
Clive GillinsonExecutive & Artistic Director
Ajc SmithTrustee
Anne M FinucaneTrustee
Audra McdonaldTrustee
Beatrice Santo DomingoTrustee
Charles M RosenthalTrustee
Darren WalkerTrustee
David M SiegelTrustee
Dennis M NallyTrustee
Don M RandelTrustee
Earle S AltmanTrustee
Frank N NewmanTrustee
Gregory T DurantTrustee
Harold Mcgraw IiiTrustee
Isabel LeonardTrustee
James TaylorTrustee
Jessye NormanTrustee
Jolyon SternTrustee
Joshua NashTrustee
Joshua RuchTrustee
Joyce DidonatoTrustee
Judith W EvninTrustee
Judy Francis ZankelTrustee
Kurt G StrovinkTrustee
Lang LangTrustee
Laura H PomerantzTrustee
Len BlavatnikTrustee
Martina ArroyoTrustee
Renee FlemingTrustee
Robert I LippTrustee
Robert W JonesTrustee
Ronald E BlaylockTrustee
Sana H SabbaghTrustee
Sarah Billinghurst SolomonTrustee
Sir Howard StringerTrustee
Sir Martin SorrellTrustee
Suki SandlerTrustee
Susan W RoseTrustee
Suzie KovnerTrustee
Thomas P Sculco MdTrustee
Yo-yo MaTrustee
William D RondinaTrustee(stepped Down Feb 2016)
Gilbert KaplanTrustee(stepped Down Jan 2016)
Trudie StylerTrustee(stepped Down Jan 2016)
Barry F SchwartzTrustee(stepped Down Oct 2015)
Brad GreyTrustee(stepped Down Oct 2015)
Patricia LongCFO
Kenneth J BialkinSecretary Since Oct 2015
Scott a EdelmanSecretary Until Oct 2015
Edward C ForstTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$62,272,875
Program Service Revenue
$568,300
Investment Income
$4,738,232
Other Revenue
$-1,747,813
All Other Contributions
$50,359,629
Change in Net Assets
$11,723,746

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded15,128$921,226-
Other Non Cash Contri Table1,905,120$56,468Fair Market Value (FMV)
Other Non Cash Contri Table758$27,522Fair Market Value (FMV)
Total Noncash Contributions1,921,006$1,005,216-

Audited Revenue Reconciliation

Revenue per Audited Statements
$67,858,664
Revenue Not Reported on Financial Statements
$-2,027,070
Revenue Not Reported on Form 990
$31,830,849
Other Revenue Adjustments
$-2,685,965
Total Revenue per Audited Statements
$99,689,513
Total Revenue per Form 990
$65,831,594
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$42,022,156
Other Expenses$8,336,274
Total Fundraising Expense$4,682,236
Salaries, Compensation, and Employee Benefits$3,294,502
Professional Fundraising Fees$454,916

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$42,022,156--$42,022,156
Interest$5,435,425--$5,435,425
Other Salaries and Wages--$2,474,900$2,474,900
Other Employee Benefits--$819,602$819,602
Fees for Service Investment Mgmnt Fees-$658,895-$658,895
Fees for Services Professional Fundraising--$454,916$454,916
Fees for Services Other--$369,907$369,907
Office Expenses--$204,238$204,238
Fees for Services Lobbying--$182,115$182,115
All Other Expenses$54,840-$93,666$148,506
Advertising--$35,068$35,068
Information Technology--$25,471$25,471
Travel--$22,353$22,353
Other Expenses$16,650--$16,650
Total Functional Expenses$48,766,717$658,895$4,682,236$54,107,848

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$123,102,895
Expenses Not Reported on Form 990$69,653,942
Total Expenses per Form 990$54,107,848
Expenses per Audited Statements$53,448,953
Expenses Not Reported on Financial Statements$658,895
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Carnegie Hall CorporationNew York, NY501(c)(3)Support and Operations$42,022,156

International Summary

Spending
$80,980,822

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments---$80,951,286
East Asia and the PacificFundraising---$29,536
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$2,685,965
Fundraising Gross Income$938,152
Professional Fundraising Fees$454,916

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
125th Annv Gala$4,868,330$205,378$176,106$29,272
Opening Night$4,538,070$130,434$71,999$58,435
Total Events$11,482,651$938,152$3,023,981$-2,085,829
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Risk Strategiesdewitt SternSee Part VInsuranceNo$2,463,569
Two Sigma Investments LLCSee Part VInvestmentNo$1,088,889

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interfund Due To/from$587

Bond Issues

BondIssuerIssuedIssue PricePurpose
AThe Trust for Cultural Resources of the City of Ny2009-12-03$109,769,382The trust for cultural resources o

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$109,769,382$0$0$0

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

Pursuant to its by-laws, the organizations board of trustees delegates authority to an executive committee, subject to the limitations of the new york not-for-profit corporation law. The executive committee reports its actions to the board.

Filing and Contact Details

Filer

Filer Name
The Carnegie Hall Society Inc
EIN
13-6136259
In Care Of
% PATRICIA LONG
Phone
2129039600
Address
881 SEVENTH AVENUE, NEW YORK, NY 10019

Signing Officer

Name
Patricia Long
Title
CFO
Phone
2129039600
Signed
2017-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Clive Gillinson
Formed
1960
Legal Domicile
Ny
Voting Board Members
50
Independent Board Members
45
Employees
0
Volunteers
57

Preparer

Firm
Kpmg Llp
Address
1676 INTERNATIONAL DRIVE, McLean, VA 22102
Preparer
Margaret a Bradshaw
Phone
7032868000
Supplemental Narrative

Additional Explanations

Members

Form 990, part vi, section a, lines 6 and 7a carnegie hall society was incorporated in 1960 under new yorks membership corporation law, the predecessor to the new york not-for-profit corporation law. Members elect trustees at the organizations annual meeting, and the trustees may in turn elect other trustees. All members (currently five) are also trustees.

Board Review of Form 990

Form 990, part vi, section a, line 11a the form 990 is prepared by carnegie hall's external accounting firm with the assistance of carnegie hall's staff. The staff and finance department carefully review the draft forms, which are then provided to the audit committee. The board of trustees has delegated responsibility for reviewing the form 990 to the audit committee of the board of trustees. The audit committee provides the full board with its review comments. A copy of form 990 is made available to the full board of trustees before filing.

Conflict of Interest Policy

Form 990, part vi, section b, line 12c potential conflict of interest transactions and related party transactions are reviewed by an independent group of trustees, most recently the independent governance committee, to ensure the transactions are in the organizations best interest and in compliance with applicable law and best practices, pursuant to the organizations conflict of interest policy.

Public Disclosure

FORM 990, PART VI, SECTION C, LINE 19 Carnegie Hall makes its annual report which contains highlights of programs and financial information and its current year audited financial statements available on its website. The form 990 is available upon request and on websites such as guidestar.org. Carnegie Hall currently does not make its governing documents and conflict of interest publicly available.

Reconciliation of Net Assets

Form 990, part xi, line 9 intercompany expense eliminated : 1,085,939

Relationships

FORM 990, PART VI, SECTION A, LINE 2 Ronald O. Perelman and Barry F. Schwartz HAVE A BUSINESS RELATIONSHIP. David M. Siegel and Sanford I. Weill HAVE A BUSINESS RELATIONSHIP. JOSHUA NASH AND Sanford I. Weill HAVE A BUSINESS RELATIONSHIP.

Financial Statement Notes

Other Revenue Included on Afs But Not Form 990, Part VIII

SCHEDULE D, PART XI, LINE 2D AFFILIATE'S REVENUE : $80,162,593 AFFILIATE'S EXPENSES RECLASSED IN REVENUE : 10,841,381 INTERCOMPANY GRANT ELIMINATED : (42,022,156) AFFILIATE'S DONATED SERVICES : 1,076,021 rounding -1 ----------- TOTAL OTHER LINE 2D = $ 50,057,838

Other Revenue Included on Form 990, Part VIII But Not in Afs

Schedule d, part xi, line 4b fundraising expenses (2,685,965)

Other Expenses Included on Audited Financial Statements But Not Form 990

Schedule d, part xii, line 2d affiliate's expenses : $ 94,141,926 affiliate's expenses reclassed to revenue : 10,841,381 affiliate's donated services : 1,083,621 intercompany grant eliminated : (42,022,156) intercompany expense eliminated : (1,085,942) actuarial gain on pension plan : 3,894,647 fundraising expenses : 2,685,965 ------------- total other line 2d = 69,539,442

Endowment Funds

Schedule d, part v the carnegie hall society's endowment fund consists of approximately 40 individual funds established to support the operations of carnegie hall.

Uncertain Tax Position

Schedule d, part x, line 2 the audited financial statements do not contain a footnote regarding asc 740 (formerly fin 48) because it did not have a material impact on the financial statements.

Raw XML AppendixShowing 400 of 1,362 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.

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