Civic Intelligence

Kronos Performing Arts Association

990 • Fiscal year 2022 • EIN 23-7444956

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 08, 2023

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

76th percentile

0.32x

Higher debt load relative to assets than 76% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

64th percentile

0.18x

Higher debt load relative to revenue than 64% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

67th percentile

17%

Higher net margin than 67% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

74th percentile

$114,523

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 4.1% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

85th percentile

37%

Faster asset growth than 85% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

86th percentile

70%

Faster revenue growth than 86% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$1,591,460

Up $430,383 (+37%) from 2021

Net Assets

Up

$1,086,202

Up $471,415 (+77%) from 2021

Liabilities

Down

$505,258

Down $41,032 (-7.5%) from 2021

Revenue

Up

$2,774,082

Up $1,138,683 (+70%) from 2021

Expenses

Up

$2,302,667

Up $791,883 (+52%) from 2021

Net Income

Up

$471,415

Up $346,800 (+278%) from 2021

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

2022

Assets$1,591,460
Liabilities$505,258
Net Assets$1,086,202

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

2022

Revenue$2,774,082
Expenses$2,302,667
Net Income$471,415
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 8, 2023
Return Version
2021v4.1
Gross Receipts
$2,774,082
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]

Kronos exists to create, perform, and promote music from a global perspective that responds to the world we share and expands the understanding of music's role as a powerful force in society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$766,633$1,246,293▲ $479,660
Pledges and Grants Receivable$310,836$235,850▼ $74,986
Prepaid Expenses and Deferred Charges$33,474$56,435▲ $22,961
Accounts Receivable$31,380$42,846▲ $11,466
Land, Buildings, and Equipment, Net$11,850$3,132▼ $8,718
Cash and Non-Interest-Bearing Accounts-$0-
Other Notes and Loans Receivable, Net-$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$1,161,077$1,591,460▲ $430,383
Other Assets Total$6,904$6,904→ $0
Liabilities
Deferred Revenue$49,000$233,000▲ $184,000
Unsecured Notes Loans Payable$398,882$149,900▼ $248,982
Accounts Payable and Accrued Expenses$98,408$114,164▲ $15,756
Other Liabilities-$8,194-
Total Liabilities$546,290$505,258▼ $41,032
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$230,612$892,427▲ $661,815
Net Assets With Donor Restrictions$384,175$193,775▼ $190,400
Total Net Assets Fund Balance$614,787$1,086,202▲ $471,415
Total Liabilities and Net Assets / Fund Balance$1,161,077$1,591,460▲ $430,383

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,132$173,119$176,251
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David HarringtonMemberFT$111,100$3,423$114,523
John SherbaMemberFT$111,100$3,423$114,523
Janet CowperthwaiteExecutive DirectorFT$100,748$12,803$113,551
Sunny YangMemberFT$103,096$10,035$113,131
Henry DuttMemberFT$109,640$3,423$113,063
Revenue and Support

Revenue Composition

Contributions and Grants
$1,724,682
Program Service Revenue
$1,047,243
Investment Income
$2,157
Other Revenue
$0
All Other Contributions
$413,866
Change in Net Assets
$471,415

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
Other Non Cash Contri Table1$19,830Fair Market Value (FMV)
Other Non Cash Contri Table1$4,250Fair Market Value (FMV)
Other Non Cash Contri Table1$1,728Fair Market Value (FMV)
Other Non Cash Contri Table1$560Fair Market Value (FMV)
Other Non Cash Contri Table1$175Fair Market Value (FMV)
Total Noncash Contributions5$26,543-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,774,082
Revenue Not Reported on Form 990
$24,000
Total Revenue per Audited Statements
$2,798,082
Total Revenue per Form 990
$2,774,082
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,237,983
Other Expenses$1,064,684
Total Fundraising Expense$133,091
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$627,315$14,553$43,657$685,525
Fees for Services Other$471,952$9,530$7,200$488,682
Other Salaries and Wages$371,460$6,656$78,728$456,844
Travel$194,652$3,021$707$198,380
Payroll Taxes-$81,614-$81,614
Occupancy-$76,270-$76,270
Advertising$25,731$16,131$1,216$43,078
Fees for Services Accounting-$34,850-$34,850
Insurance-$20,958-$20,958
Other Employee Benefits-$14,000-$14,000
Information Technology$183$11,213-$11,396
Fees for Services Legal$6,108$5,200-$11,308
Depreciation Depletion-$8,718-$8,718
Other Expenses$4,048$3,753$873$8,674
Interest-$8,290-$8,290
Office Expenses-$8,267-$8,267
Conferences and Meetings$2,884$4,777$123$7,784
All Other Expenses$1,385$5,174$587$7,146
Total Functional Expenses$1,825,598$343,978$133,091$2,302,667

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,326,667
Expenses per Audited Statements$2,302,667
Total Expenses per Form 990$2,302,667
Expenses Not Reported on Form 990$24,000
International Activity

International Summary

Spending
$14,297

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
AustriaPerformances & RecordingsTouring and Royalties/Fees00$4,017
GermanyPerformances & RecordingsTouring and Royalties/Fees00$3,710
NetherlandsPerformances & RecordingsTouring and Royalties/Fees00$2,575
IndonesiaPerformances & RecordingsTouring and Royalties/Fees00$2,500
CanadaPerformances & RecordingsTouring and Royalties/Fees00$970
EnglandPerformances & RecordingsTouring and Royalties/Fees00$525
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued interest at 2% per annum$8,194
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
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 then reviewed by the organization's management. After a full review, 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 form 990 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 periodically. Top management and all Board members are required to disclose potential conflicts and any related party affiliations. The organization 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 legal filings are maintained in a secure environment and held available for inspection by tax authorities and the general public. Tax returns are posted annually to our website and to www.guidestar.org (where they are available for viewing as electronic copies) and are also available by request from the organization's office.

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
Executive Director
Phone
4157313533
Signed
2023-04-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janet Cowperthwaite
Formed
1975
Legal Domicile
CA
Voting Board Members
24
Independent Board Members
19
Employees
11
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: PRESERVATION: KRONOS EXPANSIVE DISCOGRAPHY ON NONESUCH RECORDS AND OTHER LABELS INCLUDES ALBUMS SUCH AS PIECES OF AFRICA (1992), A SHOWCASE OF AFRICAN COMPOSERS; KRONOS QUARTET: 25 YEARS (1998), A TEN-DISC ANTHOLOGY; AND THREE GRAMMY-WINNING ALBUMS: ALBAN BERGS LYRIC SUITE (2003), FEATURING RENOWNED SOPRANO DAWN UPSHAW; LANDFALL (2018) WITH LAURIE ANDERSON; AND TERRY RILEYS SUN RINGS (2019). KRONOS RECENT RELEASES INCLUDE ONE EARTH, ONE PEOPLE, ONE LOVE: KRONOS PLAYS TERRY RILEY, (2015) A FIVE-DISC BOXED SET; FOLK SONGS (2017) FEATURING SAM AMIDON, OLIVA CHANEY, RHIANNON GIDDENS, AND NATALIE MERCHANT SINGING TRADITIONAL FOLK SONGS; LONG TIME PASSING: KRONOS AND FRIENDS CELEBRATE PETE SEEGER (2020), AND MY LAI (2022). (Continued on Schedule O) OTHER PROGRAM SERVICES 5: Continued from Form 990 Page 2------------------------------Preservation:KPAA COLLABORATES WITH THE LIBRARY OF CONGRESS AND ITS AMERICAN FOLKLIFE CENTER TO CREATE PROGRAMMING AND SHARE HISTORICAL MATERIALS WITH THE PUBLIC. IN MAY 2022, KPAA EXECUTIVE DIRECTOR, JANET COWPERTHWAITE WAS AWARDED THE ASSOCIATION OF PERFORMING ARTS PROFESSIONALS 2022 FAN TAYLOR DISTINGUISHED SERVICE AWARD.

FORM 990, Part III - Org Mission {Continued}

Mission statement: kronos exists to create, perform, and promote music from a global perspective that responds to the world we share and expands the understanding of musics role as a powerful force in society. Kpaa achieves its mission through a wide variety of programmatic initiatives, including commissioning, performing, presenting, recording, publishing, archiving, teaching, mentoring, and encouraging the next generation of artists and audiences. Kronos has received more than 40 awards, including grammy awards, the polar music prize and avery fisher prize.

Financial Statement Notes

Part X : FIN48 Footnote

Income Taxes: KPAA is organized as California nonprofit corporation and has been recognized by the IRS as exempt from federal income taxes under IRC Section 501(a) as organizations described in IRC Section 501(c)(3), qualify for the charitable contribution deduction under IRC Sections 170(b)(1)(A)(vi) and (viii), and has been determined not to be private foundations under IRC Sections 509(a)(1) and (3), respectively. KPAA is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. KPAA is not required to file an Exempt Organization Business Income Tax Return (Form 990-T) because it had no unrelated business taxable income for the year ended June 30, 2022. 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.

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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