Civic Intelligence

Kronos Performing Arts Association

990 • Fiscal year 2015 • EIN 23-7444956

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 16, 2015

PO Box 225340San Francisco, CA 94122

(415) 731-3533

Siviq Scores

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

Liabilities / Assets

58th percentile

0.17x

Higher debt load relative to assets than 58% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

41st percentile

0.07x

Higher debt load relative to revenue than 41% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

59th percentile

5.7%

Higher net margin than 59% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

82nd percentile

$140,906

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 5.3% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

83rd percentile

23%

Faster asset growth than 83% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

44th percentile

1.3%

Faster revenue growth than 44% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Up

$1,113,451

Up $206,054 (+23%) from 2014

Net Assets

Up

$925,459

Up $151,172 (+20%) from 2014

Liabilities

Up

$187,992

Up $54,882 (+41%) from 2014

Revenue

Up

$2,674,835

Up $35,372 (+1.3%) from 2014

Expenses

Down

$2,523,663

Down $255,939 (-9.2%) from 2014

Net Income

Up

$151,172

Up $291,311 (+208%) from 2014

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2012: $1,124,290Liabilities 2012: $89,013Net Assets 2012: $1,035,2772012Assets 2013: $1,063,983Liabilities 2013: $149,557Net Assets 2013: $914,4262013Assets 2014: $907,397Liabilities 2014: $133,110Net Assets 2014: $774,2872014Assets 2015: $1,113,451Liabilities 2015: $187,992Net Assets 2015: $925,4592015Assets 2016: $1,120,022Liabilities 2016: $99,145Net Assets 2016: $1,020,8772016Assets 2017: $1,127,341Liabilities 2017: $153,941Net Assets 2017: $973,4002017Assets 2018: $1,406,111Liabilities 2018: $94,749Net Assets 2018: $1,311,3622018Assets 2019: $1,154,400Liabilities 2019: $181,831Net Assets 2019: $972,5692019Assets 2020: $863,008Liabilities 2020: $372,836Net Assets 2020: $490,1722020Assets 2021: $1,161,077Liabilities 2021: $546,290Net Assets 2021: $614,7872021Assets 2022: $1,591,460Liabilities 2022: $505,258Net Assets 2022: $1,086,2022022Assets 2023: $2,024,130Liabilities 2023: $395,879Net Assets 2023: $1,628,2512023Assets 2024: $1,957,294Liabilities 2024: $236,354Net Assets 2024: $1,720,9402024

Highlighted filing

2015

Assets$1,113,451
Liabilities$187,992
Net Assets$925,459

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $2,184,6382012Expenses 2013: $2,413,1242013Revenue 2014: $2,639,463Expenses 2014: $2,779,602Net Income 2014: -$140,1392014Revenue 2015: $2,674,835Expenses 2015: $2,523,663Net Income 2015: $151,1722015Revenue 2016: $2,554,906Expenses 2016: $2,446,748Net Income 2016: $108,1582016Revenue 2017: $2,521,433Expenses 2017: $2,572,950Net Income 2017: -$51,5172017Revenue 2018: $3,236,794Expenses 2018: $2,901,714Net Income 2018: $335,0802018Revenue 2019: $2,385,167Expenses 2019: $2,729,778Net Income 2019: -$344,6112019Revenue 2020: $1,961,196Expenses 2020: $2,443,593Net Income 2020: -$482,3972020Revenue 2021: $1,635,399Expenses 2021: $1,510,784Net Income 2021: $124,6152021Revenue 2022: $2,774,082Expenses 2022: $2,302,667Net Income 2022: $471,4152022Revenue 2023: $2,993,162Expenses 2023: $2,451,113Net Income 2023: $542,0492023Revenue 2024: $2,944,139Expenses 2024: $2,851,450Net Income 2024: $92,6892024

Highlighted filing

2015

Revenue$2,674,835
Expenses$2,523,663
Net Income$151,172
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 16, 2015
Return Version
2014v5.0
Gross Receipts
$2,674,835
Mission and Program Overview

Mission

FOR 45 YEARS, SAN FRANCISCOS KRONOS QUARTET HAS PURSUED A SINGULAR ARTISTIC VISION. MISSION STATEMENT: KRONOS EXISTS TO CREATE, PERFORM, AND PROMOTE MUSIC FROM A GLOBAL PERSPECTIVE THAT RESPONDS TO THE WORLD WE SHARE AND EXPANDS [continued on Schedule O]

The mission of KPAA is to contin- ually re-imagine the string quartet experience. Kronos fulfills its mission through commissioning, performing, presenting, recording and publishing contempor- ary music, and collaborating with, mentoring and encouraging other artists.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$157,458$492,507▲ $335,049
Savings and Temporary Cash Investments$648,241$454,832▼ $193,409
Prepaid Expenses and Deferred Charges$67,447$137,509▲ $70,062
Land, Buildings, and Equipment, Net$27,451$20,296▼ $7,155
Cash and Non-Interest-Bearing Accounts$600$600→ $0
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$907,397$1,113,451▲ $206,054
Other Assets Total$6,200$7,707▲ $1,507
Liabilities
Accounts Payable and Accrued Expenses$133,110$131,947▼ $1,163
Deferred Revenue-$56,045-
Total Liabilities$133,110$187,992▲ $54,882
Net Assets / Fund Balance
Unrestricted Net Assets$637,775$671,621▲ $33,846
Temporarily Rstr Net Assets$136,512$253,838▲ $117,326
Total Net Assets Fund Balance$774,287$925,459▲ $151,172
Total Liabilities and Net Assets / Fund Balance$907,397$1,113,451▲ $206,054

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$20,296$109,556$129,852
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Janet CowperthwaiteManaging DirectorFT$126,000$14,906$140,906
Henry DuttTreasurerFT$121,000$18,703$139,703
John SherbaVice PresidentFT$121,000$17,642$138,642
David HarringtonPresidentFT$123,497$6,275$129,772
Jungin YangCellistFT$103,750$9,517$113,267
Laird RodetAssoc DirectorFT$92,000$18,156$110,156

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$971,457
Program Service Revenue
$1,703,022
Investment Income
$356
Other Revenue
$0
All Other Contributions
$971,457
Change in Net Assets
$151,172

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,674,835
Total Revenue per Audited Statements
$2,674,835
Total Revenue per Form 990
$2,674,835
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,346,274
Other Expenses$1,177,389
Total Fundraising Expense$282,559
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$398,302$122,555$91,915$612,772
Current Officers, Directors, Trustees, and Key Employees$319,473$98,299$73,725$491,497
Travel$204,081$30,612$27,167$261,860
Other Employee Benefits$82,797$25,476$19,107$127,380
Payroll Taxes$54,788$16,858$12,643$84,289
Occupancy$55,993$3,111$3,110$62,214
Advertising$45,764-$8,076$53,840
All Other Expenses$16,827$26,080$7,516$50,423
Other Expenses$41,508-$32,879$41,508
Pension Plan Contributions$19,718$6,067$4,551$30,336
Fees for Services Accounting-$24,199-$24,199
Fees for Services Other-$13,515-$13,515
Insurance$6,532$4,895$1,633$13,060
Information Technology-$12,575-$12,575
Office Expenses$7,443$3,402$237$11,082
Depreciation Depletion$808$9,296-$10,104
Fees for Services Legal-$9,940-$9,940
Interest-$894-$894
Total Functional Expenses$1,833,330$407,774$282,559$2,523,663

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,523,663
Total Expenses per Audited Statements$2,523,663
Total Expenses per Form 990$2,523,663
International Activity

International Summary

Spending
$67,886

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
AustriaPerformancesTouring00$26,399
United KingdomPerformancesTouring00$21,022
FrancePerformancesTouring00$8,325
TurkeyPerformancesTouring00$1,989
NetherlandsPerformancesTouring00$1,812
SpainPerformancesTouring00$1,796
Czech RepublicPerformancesTouring00$1,339
GreecePerformancesTouring00$1,286
BrazilPerformancesTouring00$1,058
PortugalPerformancesTouring00$1,041
FinlandPerformancesTouring00$606
BelgiumPerformancesTouring00$493
SerbiaPerformancesTouring00$483
PolandPerformancesTouring00$137
ItalyPerformancesTouring00$100
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$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

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Board members Alice Wingwall and Donlyn Lyndon are married to each other.

Form 990, Part VI, Line 11B: Form 990 Review Process

FORM 990 IS PREPARED BY AN OUTSIDE TAX PROFESSIONAL. THE FORM IS REVIEWED BYTHE ORGANIZATION'S MANAGEMENT, A MEMBER OF THE BOARD OF DIRECTORS, AND THE MANAGINGDIRECTOR. THIS GROUP OF INDIVIDUALS DISCUSSES THE CONTENTS OF THE RETURN WITHTHE OUTSIDE TAX PROFESSIONAL. After a full review (with modifications where necessary), the final version of the tax return is provided to all members of the organization's voting body. A representative of management authorizes the final return which is then e-filed with the Internal Revenue Service.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Members of the board of directors review all potential conflicts of interest atleast annually. All personnel and board members are required to disclose (inwriting) potential conflicts and any related party affiliations. Loans between theorganization and members of management and the board are strictly prohibited. Theorganization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Members of the board of directors review the compensation of all high-level personnel periodically in accordance with irs rules and regulations. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries. Specifically, the organization uses the opportunity knocks national compensation and benefits survey to determine the amount of compensation. Every effort is made to ensure that the process is thorough and transparent in accordance with irs guidelines and the organization's policies and procedures. Final compensation adjustments are approved by the board.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Members of the board of directors review the compensation of all high-level personnel periodically in accordance with irs rules and regulations. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries. Specifically, the organization uses the opportunity knocks national compensation and benefits survey to determine the amount of compensation. Every effort is made to ensure that the process is thorough and transparent in accordance with irs guidelines and the organization's policies and procedures. Final compensation adjustments are approved by the board.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

All of the organization's governing documents, financial statements and other legalfilings are maintained in a secure environment and held available for inspection bytax authorities and the general public. Tax returns are posted annually towww.guidestar.org (where they are available for viewing as electronic copies) and are also available at the organization's office in san francisco, california (for a physical inspection).

Filing and Contact Details

Filer

Filer Name
Kronos Performing Arts Association
EIN
23-7444956
Phone
4157313533
Address
PO Box 225340, San Francisco, CA 94122

Signing Officer

Name
Janet Cowperthwaite
Title
Managing Director
Signed
2015-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janet Cowperthwaite
Formed
1975
Legal Domicile
CA
Voting Board Members
20
Independent Board Members
20
Employees
17
Volunteers
20

Preparer

Firm
Regalia & Associates CPAs
Address
103 Town Country Dr Ste K, Danville, CA 94526
Preparer
Douglas W Regalia
Phone
9253140390
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

OTHER PROGRAM SERVICES 4: Mentoring/Education: Kronos participates in mentoring and education projects on an ongoing basis. In 2015, KPAA launched Fifty for the Future: The Kronos Learning Repertoire, a 5 year education project that will commission 50 new works designed specifically for student musicians. Kronos participates in many residencies each year, working with student composers, musicians, and students from other areas of study. Kronos often performs for school-aged children and families, both in schools and in concert hall settings. KPAA management also advises other organizations, performers, composers, and arts professionals on an ongoing basis.

Financial Statement Notes

Part X : FIN48 Footnote

Income TaxesFinancial statement presentation follows the recommendations of ASC 740, Income Taxes. Under ASC 740, KPAA is required to report information regarding its exposure to various tax positions taken by KPAA and requires a two-step process that separates recognition from measurement. The first step is determining whether a tax position has met the recognition threshold; the second step is measuring a tax position that meets the recognition threshold. Management believes that it has adequately evaluated its current tax positions and has concluded that as of June 30, 2015, KPAA does not have any uncertain tax positions for which a reserve or an accrual for a tax liability would be necessary.KPAA has received notification from the Internal Revenue Service and the State of California that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code and Section 23701d of the California Revenue and Taxation Code. The exemptions are subject to periodic review by the federal and state taxing authorities and management is confident that KPAA continues to satisfy all federal and state statutes in order to qualify for continued tax exemption status. KPAA could potentially receive unrelated business income (such as sublease rental income) requiring KPAA to file separate tax returns under federal and state statutes. Under such conditions, KPAA calculates and accrues the applicable taxes. KPAA had no unrelated business income during the years ended June 30, 2015 and 2014.

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IRS990/Form990PartVIISectionAGrp/PersonNm0Janet Cowperthwaite
IRS990/Form990PartVIISectionAGrp/PersonNm1Andrea A Lunsford PhD
IRS990/Form990PartVIISectionAGrp/PersonNm2Curtis Smith
IRS990/Form990PartVIISectionAGrp/PersonNm3David Harrington
IRS990/Form990PartVIISectionAGrp/PersonNm4John Sherba
IRS990/Form990PartVIISectionAGrp/PersonNm5Henry Dutt
IRS990/Form990PartVIISectionAGrp/PersonNm6Sumiko Ito Allison
IRS990/Form990PartVIISectionAGrp/PersonNm7Anders Anderson
IRS990/Form990PartVIISectionAGrp/PersonNm8Judithe Bizot
IRS990/Form990PartVIISectionAGrp/PersonNm9Wallace Chappell
IRS990/Form990PartVIISectionAGrp/PersonNm10Jeanne Giordano
IRS990/Form990PartVIISectionAGrp/PersonNm11Robert E Gordon
IRS990/Form990PartVIISectionAGrp/PersonNm12Donlyn Lyndon FAIA
IRS990/Form990PartVIISectionAGrp/PersonNm13Michael L Milligan
IRS990/Form990PartVIISectionAGrp/PersonNm14Greg G Minshall
IRS990/Form990PartVIISectionAGrp/PersonNm15Christine OConnor
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IRS990/Form990PartVIISectionAGrp/PersonNm17Priscilla Stoyanof
IRS990/Form990PartVIISectionAGrp/PersonNm18Alice Wingwall
IRS990/Form990PartVIISectionAGrp/PersonNm19Carol Yaple
IRS990/Form990PartVIISectionAGrp/PersonNm20Jungin Yang
IRS990/Form990PartVIISectionAGrp/PersonNm21Laird Rodet
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IRS990/Form990PartVIISectionAGrp/TitleTxt1Board Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Past President
IRS990/Form990PartVIISectionAGrp/TitleTxt3President
IRS990/Form990PartVIISectionAGrp/TitleTxt4Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt5Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
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/TitleTxt20Cellist
IRS990/Form990PartVIISectionAGrp/TitleTxt21Assoc Director
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IRS990/OtherExpensesGrp/ProgramServicesAmt341508
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IRS990/OtherExpensesGrp/TotalAmt1176032
IRS990/OtherExpensesGrp/TotalAmt2151337
IRS990/OtherExpensesGrp/TotalAmt341508
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IRS990/PensionPlanContributionsGrp/FundraisingAmt04551

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.96$0.24$1.72$2.94$2.85$0.09
2023Detailed filing. Detailed filing data is available for this year.$2.02$0.40$1.63$2.99$2.45$0.54
2022Detailed filing. Detailed filing data is available for this year.$1.59$0.51$1.09$2.77$2.30$0.47
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$0.55$0.61$1.64$1.51$0.12
2020Detailed filing. Detailed filing data is available for this year.$0.86$0.37$0.49$1.96$2.44$0.48
2019Detailed filing. Detailed filing data is available for this year.$1.15$0.18$0.97$2.39$2.73$0.34
2018Detailed filing. Detailed filing data is available for this year.$1.41$0.09$1.31$3.24$2.90$0.34
2017Detailed filing. Detailed filing data is available for this year.$1.13$0.15$0.97$2.52$2.57$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.12$0.10$1.02$2.55$2.45$0.11
2015Detailed filing. Detailed filing data is available for this year.$1.11$0.19$0.93$2.67$2.52$0.15
2014Detailed filing. Detailed filing data is available for this year.$0.91$0.13$0.77$2.64$2.78$0.14
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$0.15$0.91$2.41
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.12$0.09$1.04$2.18