Civic Intelligence

Princeton Symphony Orchestra Inc.

990 • Fiscal year 2017 • EIN 22-2327766

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 15, 2017

PO Box 250Princeton, NJ 08542

(609) 497-0020

Siviq Scores

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

Liabilities / Assets

46th percentile

0.04x

Higher debt load relative to assets than 46% of similar nonprofits.

2017 filings • NTEE A • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

60th percentile

0.14x

Higher debt load relative to revenue than 60% of similar nonprofits.

2017 filings • NTEE A • $1M-$5M nonprofits • Source year 2017

Net Margin

45th percentile

1.2%

Higher net margin than 45% of similar nonprofits.

2017 filings • NTEE A • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

72nd percentile

$103,500

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 6.8% of source-year revenue.

2017 filings • NTEE A • $1M-$5M nonprofits • Source year 2017

Asset Growth

77th percentile

14%

Faster asset growth than 77% of similar nonprofits.

2017 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

28th percentile

-9.1%

Faster revenue growth than 28% of similar nonprofits.

2017 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$4,849,021

Up $587,861 (+14%) from 2016

Net Assets

Up

$4,642,774

Up $527,561 (+13%) from 2016

Liabilities

Up

$206,247

Up $60,300 (+41%) from 2016

Revenue

Down

$1,517,579

Down $152,809 (-9.1%) from 2016

Expenses

Up

$1,499,115

Up $170,914 (+13%) from 2016

Net Income

Down

$18,464

Down $323,723 (-95%) from 2016

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $2,344,336Liabilities 2010: $100,130Net Assets 2010: $2,244,2062010Assets 2011: $2,730,904Liabilities 2011: $159,239Net Assets 2011: $2,571,6652011Assets 2012: $2,867,115Liabilities 2012: $140,711Net Assets 2012: $2,726,4042012Assets 2013: $3,195,490Liabilities 2013: $114,060Net Assets 2013: $3,081,4302013Assets 2014: $3,506,177Liabilities 2014: $102,029Net Assets 2014: $3,404,1482014Assets 2015: $3,923,115Liabilities 2015: $131,447Net Assets 2015: $3,791,6682015Assets 2016: $4,261,160Liabilities 2016: $145,947Net Assets 2016: $4,115,2132016Assets 2017: $4,849,021Liabilities 2017: $206,247Net Assets 2017: $4,642,7742017Assets 2018: $5,571,757Liabilities 2018: $257,062Net Assets 2018: $5,314,6952018Assets 2019: $7,452,835Liabilities 2019: $274,735Net Assets 2019: $7,178,1002019Assets 2020: $8,497,892Liabilities 2020: $192,876Net Assets 2020: $8,305,0162020Assets 2021: $11,470,025Liabilities 2021: $167,410Net Assets 2021: $11,302,6152021Assets 2022: $10,355,967Liabilities 2022: $445,429Net Assets 2022: $9,910,5382022Assets 2023: $10,110,371Liabilities 2023: $405,578Net Assets 2023: $9,704,7932023Assets 2024: $10,508,299Liabilities 2024: $1,154,285Net Assets 2024: $9,354,0142024Assets 2025: $12,092,985Liabilities 2025: $1,031,787Net Assets 2025: $11,061,1982025

Highlighted filing

2017

Assets$4,849,021
Liabilities$206,247
Net Assets$4,642,774

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $873,1302010Revenue 2011: $1,048,731Expenses 2011: $991,922Net Income 2011: $56,8092011Expenses 2012: $1,133,2322012Expenses 2013: $1,131,2452013Revenue 2014: $1,281,633Expenses 2014: $1,319,809Net Income 2014: -$38,1762014Revenue 2015: $1,733,270Expenses 2015: $1,237,102Net Income 2015: $496,1682015Revenue 2016: $1,670,388Expenses 2016: $1,328,201Net Income 2016: $342,1872016Revenue 2017: $1,517,579Expenses 2017: $1,499,115Net Income 2017: $18,4642017Revenue 2018: $1,899,368Expenses 2018: $1,568,723Net Income 2018: $330,6452018Revenue 2019: $3,487,715Expenses 2019: $1,812,579Net Income 2019: $1,675,1362019Revenue 2020: $2,664,246Expenses 2020: $1,838,171Net Income 2020: $826,0752020Revenue 2021: $3,029,525Expenses 2021: $1,635,937Net Income 2021: $1,393,5882021Revenue 2022: $2,561,737Expenses 2022: $3,429,005Net Income 2022: -$867,2682022Revenue 2023: $3,147,824Expenses 2023: $3,852,685Net Income 2023: -$704,8612023Revenue 2024: $2,941,794Expenses 2024: $3,760,446Net Income 2024: -$818,6522024Revenue 2025: $4,801,679Expenses 2025: $4,330,875Net Income 2025: $470,8042025

Highlighted filing

2017

Revenue$1,517,579
Expenses$1,499,115
Net Income$18,464
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 15, 2017
Return Version
2016v3.1
Gross Receipts
$1,757,204
Mission and Program Overview

Mission

To provide extraordinary musical experiences and to do so as an integral part of the greater princeton community and to attract and support outstanding musical talent. To present artistically excellent performances of traditional and new classical music, bringing musicians and audiences together in an atmosphere of exploration and intimacy, education of children and adults to build understanding and appreciation of classical music, musicians and music making and connect concerts with innovative programs and events in partnerships with local organizations to attract a diverse audience and enrich the cultural life of our community.

Create opportunities for people in the greater princeton area to experience excellent, innovative live music in many forms and venues, encouraging them to engage in the art form.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$3,740,770$4,328,264▲ $587,494
Cash and Non-Interest-Bearing Accounts$182,760$258,780▲ $76,020
Savings and Temporary Cash Investments$282,807$183,110▼ $99,697
Prepaid Expenses and Deferred Charges$12,347$32,537▲ $20,190
Pledges and Grants Receivable$26,434$30,754▲ $4,320
Accounts Receivable$10,622$12,293▲ $1,671
Intangible Assets$2,164$1,851▼ $313
Land, Buildings, and Equipment, Net$3,256$1,432▼ $1,824
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
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$4,261,160$4,849,021▲ $587,861
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$122,265$194,926▲ $72,661
Accounts Payable and Accrued Expenses$23,682$11,321▼ $12,361
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$145,947$206,247▲ $60,300
Net Assets / Fund Balance
Temporarily Rstr Net Assets$3,554,913$3,635,508▲ $80,595
Unrestricted Net Assets$560,300$1,007,266▲ $446,966
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$4,115,213$4,642,774▲ $527,561
Total Liabilities and Net Assets / Fund Balance$4,261,160$4,849,021▲ $587,861

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,432$15,439$16,871
Other Securities$4,328,264--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$3,721,787$258,688▲ $518,630$140,000$4,338,206
2015$3,370,675$565,958▲ $14,022$208,750$3,721,787
2014$2,953,766$462,309▲ $70,086$96,250$3,370,675
2013$2,521,288$254,453▲ $321,756$125,000$2,953,766
2012$2,180,193$281,338▲ $187,836$115,000$2,521,288
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rossen MilanovMusic DirectorFT$103,500-$103,500
Marc UysExecutive DirectorFT$94,439$5,800$100,239
Revenue and Support

Revenue Composition

Contributions and Grants
$1,123,420
Program Service Revenue
$382,090
Investment Income
$12,069
Other Revenue
$0
All Other Contributions
$915,132
Change in Net Assets
$18,464

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded7$78,790Fair Market Value (FMV)
Total Noncash Contributions7$78,790-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,569,511
Revenue Not Reported on Financial Statements
$-51,932
Revenue Not Reported on Form 990
$509,097
Other Revenue Adjustments
$-73,974
Total Revenue per Audited Statements
$2,078,608
Total Revenue per Form 990
$1,517,579
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$935,554
Other Expenses$563,561
Total Fundraising Expense$129,188
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$632,813$39,790$66,474$739,077
Current Officers, Directors, Trustees, and Key Employees$58,395$26,543$21,234$106,172
Office Expenses$0$66,501$29,930$96,431
Advertising$84,431$0$0$84,431
Occupancy$76,275$1,883$2,490$80,648
Fees for Services Other$63,031$5,790$0$68,821
Payroll Taxes$55,490$5,325$7,041$67,856
Fees for Services Accounting$0$24,868$0$24,868
Other Employee Benefits$19,221$1,209$2,019$22,449
Fees for Service Investment Mgmnt Fees$0$22,042$0$22,042
Travel$20,348$0$0$20,348
Insurance$0$16,999$0$16,999
Conferences and Meetings$0$15,246$0$15,246
Fees for Services Legal$0$8,469$0$8,469
Other Expenses$3,707$0$0$3,707
Information Technology$0$2,241$0$2,241
Depreciation Depletion$0$2,137$0$2,137
Total Functional Expenses$1,130,884$239,043$129,188$1,499,115

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,551,047
Total Expenses per Audited Statements$1,551,047
Total Expenses per Form 990$1,499,115
Expenses Not Reported on Financial Statements$-51,932
Other Expense Adjustments$-73,974
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$73,974
Fundraising Gross Income$73,974
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Benefit$213,765$67,339$24,670$42,669
Musicale$22,905$6,635$6,635$0
Total Events$236,670$73,974$73,974-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

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
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

PART VI, SECTION B, LINE 11B - REVIEW OF FORM 990:

The audit committee and the executive committee review the final draft of the form 990 prior to its filing. All board members receive a public copy prior to its filing.

PART VI, SECTION B, LINE 12C - CONFLICT OF INTEREST POLICY:

The symphony has a conflict of interest policy that was approved by the board of trustees. This policy is signed by all board members and full-time employees annually.

PART VI, SECTION B, LINE 15 - DETERMINATION OF COMPENSATION:

Members of the executive committee meet to discuss compensation on an annual basis and use data compiled, where applicable, on similar size symphonies in their decision making process.

PART VI, SECTION C, LINE 19 - AVAILABILITY OF DOCUMENTS:

The organization's governing documents, conflict of interest policy and financial statements are available to the public upon request and on the organization's website.

Filing and Contact Details

Filer

Filer Name
Princeton Symphony Orchestra Inc
EIN
22-2327766
In Care Of
% MARC UYS
Phone
6094970020
Address
PO BOX 250, PRINCETON, NJ 08542

Signing Officer

Name
Marc Uys
Title
Executive Director
Phone
6094970020
Signed
2017-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marc Uys
Formed
1980
Legal Domicile
Nj
Voting Board Members
29
Independent Board Members
29
Employees
189
Volunteers
50

Preparer

Firm
Withum Smith Brown Pc
Address
506 CARNEGIE CENTER STE 400, PRINCETON, NJ 08540-6243
Preparer
Brad Caruso
Phone
7328281614
Supplemental Narrative

Additional Explanations

Part III, Line 4A - Performing Classical Masterworks Program

Whether performing classical masterworks, introducing music by living composers, or hosting families and students at their first symphony performance, the Princeton Symphony Orchestra, Inc. (PSO) is a cultural centerpiece of the Princeton community and one of New Jersey's finest music organizations. Led by Music Director Rossen Milanov, the PSO offers critically acclaimed orchestral, pops, and chamber music programs as well as lectures and events designed to connect the public to music. Through PSO BRAVO!, the orchestra produces wide-reaching and innovative education programs, carried out in partnerships with local schools and community organizations. Honored for excellence for two years in a row by the National Endowment for the Arts, the PSO is also a multiple-year recipient of the New Jersey State Council on the Arts' highest honors-a Citation of Excellence and designation as a Major Arts Institution. The PSO has also earned awards from ASCAP for Adventurous Programming and from The Aaron Copland Fund. The only professional orchestra to make its home in Princeton, the PSO performs at historic Richardson Auditorium on the campus of Princeton University as well as at other venues throughout Central New Jersey.

Part III, Line 4B - Education Program

Princeton Symphony Orchestra Inc. (PSO) has a dynamic impact on the lives and education of children, including underserved and disadvantaged youth. The acclaimed education program BRAVO! is a mainstay of PSO activities, reaching 10,000 students annually. Now in its 22nd year, BRAVO!'s touring small-ensemble program establishes PSO musicians in teaching partnerships at more than 30 public, private, and special-needs elementary schools throughout Central New Jersey. Full-orchestra performances for elementary school students are held each spring. At the middle school level, BRAVO! offers Listen Up!, a program which brings students to Classical Series concerts and invites them to create visual art in response to the music they hear. High school and college instrumentalists gain invaluable educational experiences through BRAVO! masterclasses, taught by world-renowned artists. From kindergarten through college, BRAVO! inspires the next generation of musicians and audiences. PSO Soundtracks is a five-lecture series which offers insights about what goes into "orchestrating" a concert by a professional symphony. The series delves into diverse topics related to the music that the PSO performs and what happens behind the scenes: everything from who chooses the music, to how individual musicians and sections shape the sound of the orchestra, to the stories behind the beautiful and often rare instruments owned and maintained by members of the PSO. Lectures are held at the Princeton Public Library, and are free and open to the public.

Financial Statement Notes

PART V, LINE 4 - INTENDED USES OF ORGANIZATION'S ENDOWMENT FUNDS:

The symphony uses funds designated as endowment funds to take an annual draw based on a spending forumula, which is used towards operations of the symphony. The endowment can also be used, with board approval, to fund special projects, or supplement the symphony's operating budget in times of financial need.

PART XI, LINE 4B - REVENUE ON TAX RETURN, NOT ON AUDITED FINANCIALS:

Special events expenses netted with special events revenues on form 990: ($73,974)

PART XII, LINE 4B - EXPENSES ON TAX RETURN, NOT ON AUDITED FINANCIALS:

Special events expenses netted with special events revenues on form 990: ($73,974)

PART V, LINE 3A(I) - ENDOWMENT MANAGEMENT:

Endowment funds are pooled investment accounts which are held and managed by the princeton area community foundation.

PART X, LINE 2 - LIABILITY FOR UNCERTAIN TAX POSITIONS:

The organization was incorporated in the state of new jersey as a nonprofit organization on july 11, 1980. The organization has received a determination from the internal revenue service granting exemption from federal income tax under section 501(c)(3) of the internal revenue code. The organization had no unrecognized tax benefits at june 30, 2017 and 2016 and has incurred no interest or penalties related to income taxes for the periods presented.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$12.1$1.03$11.1$4.80$4.33$0.47
2024Detailed filing. Detailed filing data is available for this year.$10.5$1.15$9.35$2.94$3.76$0.82
2023Detailed filing. Detailed filing data is available for this year.$10.1$0.41$9.70$3.15$3.85$0.70
2022Detailed filing. Detailed filing data is available for this year.$10.4$0.45$9.91$2.56$3.43$0.87
2021Detailed filing. Detailed filing data is available for this year.$11.5$0.17$11.3$3.03$1.64$1.39
2020Detailed filing. Detailed filing data is available for this year.$8.50$0.19$8.31$2.66$1.84$0.83
2019Detailed filing. Detailed filing data is available for this year.$7.45$0.27$7.18$3.49$1.81$1.68
2018Detailed filing. Detailed filing data is available for this year.$5.57$0.26$5.31$1.90$1.57$0.33
2017Detailed filing. Detailed filing data is available for this year.$4.85$0.21$4.64$1.52$1.50$0.02
2016Detailed filing. Detailed filing data is available for this year.$4.26$0.15$4.12$1.67$1.33$0.34
2015Detailed filing. Detailed filing data is available for this year.$3.92$0.13$3.79$1.73$1.24$0.50
2014Detailed filing. Detailed filing data is available for this year.$3.51$0.10$3.40$1.28$1.32$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.20$0.11$3.08$1.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.87$0.14$2.73$1.13
2011Summary only. Only limited summary data is available for this year.$2.73$0.16$2.57$1.05$0.99$0.06
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.34$0.10$2.24$0.87