Civic Intelligence

Pittsburgh Symphony Inc.

990 • Fiscal year 2014 • EIN 25-0986052

Sep 01, 2013 to Aug 31, 2014 • Filed on Apr 06, 2015

600 Penn Avenue15222-3209

(412) 392-4813

Siviq Scores

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

Liabilities / Assets

38th percentile

0.22x

Higher debt load relative to assets than 38% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Liabilities / Revenue

74th percentile

1.01x

Higher debt load relative to revenue than 74% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Net Margin

12th percentile

-6.4%

Higher net margin than 12% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Top Officer Pay

29th percentile

$316,961

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Asset Growth

51st percentile

5.8%

Faster asset growth than 51% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Up

$147,807,630

Up $8,165,995 (+5.8%) from 2013

Net Assets

Up

$114,787,143

Up $2,848,285 (+2.5%) from 2013

Liabilities

Up

$33,020,487

Up $5,317,710 (+19%) from 2013

Revenue

$32,682,614

No earlier filing loaded for comparison.

Expenses

Down

$34,776,651

Down $1,954,410 (-5.3%) from 2013

Net Income

-$2,094,037

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2010: $122,608,504Liabilities 2010: $31,952,487Net Assets 2010: $90,656,0172010Assets 2011: $136,673,010Liabilities 2011: $31,262,319Net Assets 2011: $105,410,6912011Assets 2012: $132,807,469Liabilities 2012: $36,155,237Net Assets 2012: $96,652,2322012Assets 2013: $139,641,635Liabilities 2013: $27,702,777Net Assets 2013: $111,938,8582013Assets 2014: $147,807,630Liabilities 2014: $33,020,487Net Assets 2014: $114,787,1432014Assets 2015: $149,344,654Liabilities 2015: $35,941,380Net Assets 2015: $113,403,2742015Assets 2016: $147,061,291Liabilities 2016: $45,641,550Net Assets 2016: $101,419,7412016Assets 2017: $152,315,068Liabilities 2017: $38,946,000Net Assets 2017: $113,369,0682017Assets 2018: $159,581,369Liabilities 2018: $34,762,798Net Assets 2018: $124,818,5712018Assets 2019: $153,190,774Liabilities 2019: $44,042,110Net Assets 2019: $109,148,6642019Assets 2020: $160,513,295Liabilities 2020: $37,562,258Net Assets 2020: $122,951,0372020Assets 2021: $194,466,393Liabilities 2021: $29,916,238Net Assets 2021: $164,550,1552021Assets 2022: $168,227,004Liabilities 2022: $19,788,574Net Assets 2022: $148,438,4302022Assets 2023: $165,429,946Liabilities 2023: $19,194,603Net Assets 2023: $146,235,3432023Assets 2024: $187,593,015Liabilities 2024: $23,687,179Net Assets 2024: $163,905,8362024

Highlighted filing

2014

Assets$147,807,630
Liabilities$33,020,487
Net Assets$114,787,143

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $34,685,7962010Expenses 2011: $33,954,8402011Expenses 2012: $34,472,6352012Expenses 2013: $36,731,0612013Revenue 2014: $32,682,614Expenses 2014: $34,776,651Net Income 2014: -$2,094,0372014Revenue 2015: $43,616,415Expenses 2015: $34,558,633Net Income 2015: $9,057,7822015Revenue 2016: $31,748,545Expenses 2016: $37,955,170Net Income 2016: -$6,206,6252016Revenue 2017: $29,995,475Expenses 2017: $32,918,962Net Income 2017: -$2,923,4872017Revenue 2018: $45,231,709Expenses 2018: $36,790,837Net Income 2018: $8,440,8722018Revenue 2019: $36,545,841Expenses 2019: $36,068,188Net Income 2019: $477,6532019Revenue 2020: $44,898,626Expenses 2020: $33,265,787Net Income 2020: $11,632,8392020Revenue 2021: $30,739,984Expenses 2021: $23,600,910Net Income 2021: $7,139,0742021Revenue 2022: $35,674,466Expenses 2022: $33,284,956Net Income 2022: $2,389,5102022Revenue 2023: $30,841,021Expenses 2023: $39,242,910Net Income 2023: -$8,401,8892023Revenue 2024: $55,173,648Expenses 2024: $42,722,554Net Income 2024: $12,451,0942024

Highlighted filing

2014

Revenue$32,682,614
Expenses$34,776,651
Net Income-$2,094,037
Jump To
Filing Snapshot
Filing Period
Sep 1, 2013 to Aug 31, 2014
Signed
Apr 6, 2015
Return Version
2013v4.0
Gross Receipts
$98,116,351
Mission and Program Overview

Mission

It is the mission of the pittsburgh symphony orchestra to engage, enrich, and inspire through unparalleled live musical experiences.

Promotes a knowledge and love of music by establishing and maintaining a symphony orchestra.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$52,217,459$62,692,359▲ $10,474,900
Investments Other Securities$58,021,796$59,133,207▲ $1,111,411
Land, Buildings, and Equipment, Net$16,177,018$16,131,108▼ $45,910
Pledges and Grants Receivable$9,665,466$7,055,354▼ $2,610,112
Receivables From Officers Etc$1,164,288--
Savings and Temporary Cash Investments$187,303$1,102,911▲ $915,608
Cash and Non-Interest-Bearing Accounts$157,998$918,098▲ $760,100
Prepaid Expenses and Deferred Charges$1,231,166$595,437▼ $635,729
Accounts Receivable$728,405$112,865▼ $615,540
Other Notes and Loans Receivable, Net$90,736$66,291▼ $24,445
Total Assets$139,641,635$147,807,630▲ $8,165,995
Liabilities
Other Liabilities$11,390,000$17,436,000▲ $6,046,000
Mortgage Notes Payable Secured by Investment Property$9,245,071$9,213,891▼ $31,180
Deferred Revenue$6,202,245$5,301,390▼ $900,855
Accounts Payable and Accrued Expenses$865,461$1,069,206▲ $203,745
Total Liabilities$27,702,777$33,020,487▲ $5,317,710
Net Assets / Fund Balance
Permanently Rstr Net Assets$114,748,896$127,463,537▲ $12,714,641
Temporarily Rstr Net Assets$11,583,962$8,695,606▼ $2,888,356
Unrestricted Net Assets$-14,394,000$-21,372,000▼ $6,978,000
Total Net Assets Fund Balance$111,938,858$114,787,143▲ $2,848,285
Total Liabilities and Net Assets / Fund Balance$139,641,635$147,807,630▲ $8,165,995

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$12,985,389$25,595,612$38,581,001
Equipment$2,220,212$226,960$2,447,172
Buildings$925,507$1,194,863$2,120,370
Other Securities$3,808,802--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$116,091,319$1,833,000▲ $19,958,000$8,211,000$129,376,319
2012$111,432,319$775,000▲ $13,602,000$9,413,000$116,091,319
2011$113,037,319$5,578,000▲ $4,631,000$11,559,000$111,432,319
2010$115,285,329$3,174,000▲ $4,065,990$9,190,000$113,037,319
2009$109,557,004$4,712,505▲ $1,205,272$-7,761,000$115,285,329
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Noah Bendix-balgleyConcertmasterFT$304,613$12,348$316,961
William CaballeroPrincipal HornFT$236,419$21,917$258,336
James a WilkinsonPresident & CEOFT$246,805$2,500$249,305
Cynthia DealmeidaPrincipal OboeFT$220,266$21,917$242,183
Michael RusinekPrincipal ClarinetFT$194,416$8,905$203,321
Mark HugginsAssociate ConcertmasterFT$174,888$15,720$190,608
Scott MichaelVP Finance & CFOFT$163,155$22,380$185,535

Board Members and Trustees

NameTitle
Richard P SimmonsChairman/life Director
Beverlynn ElliottVice Chair
Richard J JohnsonVice Chair
Alan RussellDirector
Albert H EckertDirector
Alicia McginnisDirector
Alysia HoytDirector
Andrew AloeDirector
Ann C DonahueDirector
Anthony BucciDirector
Barbara JeremiahDirector
Basil M CoxDirector
Beejee MorrisonDirector
Benno a BerntDirector
Bernita BuncherDirector
Caryl a HalpernDirector
Charles C CohenDirector
Clifford E KressDirector
Constance BerntDirector
Craig a TillotsonDirector
David MccormishDirector
David S ShapiraDirector
Devin B McgranahanDirector
Donald W BornemanDirector
Elliott S OshryDirector
Helge H WehmeierDirector
Ira H GordonDirector
J Craig JordanDirector
James E SteenDirector
James W RimmelDirector
Jane Treherne-thomasDirector
Joan AptDirector
John LynchDirector
John R PriceDirector
Jon D WaltonDirector
L Van V Dauler JrDirector
Larry T BrockwayDirector
Matthew RayDirector
Michael J WhiteDirector
Michael a BrysonDirector
Mildred S MyersDirector
Peter S GreerDirector
Rachel WymardDirector
Rae R BurtonDirector
Reid RuttenbergDirector
Richard E RauhDirector
Richard J HarshmanDirector
Robert C DenoveDirector
Robert W MccutcheonDirector
Robert ZinnDirector
Ronald E ChutzDirector
Roy G DorranceDirector
Sigo FalkDirector
Steven C PedersonDirector
Steven T SchlotterbeckDirector
Terri FitzpatrickDirector
Theodore N BobbyDirector
Thomas B HotoppDirector
John a ThompsonDirector (entered 01/2014)
Anthony TomaselloDirector (entered 04/2014)
Diane P HolderDirector (entered 07/2014)
Frank L GrebowskiDirector (entered 5/2014)
Joseph E Bailey SrDirector (entered 7/2014)
David M RoderickLife Director
David W ChristopherLife Director
Donald I MoritzLife Director
James E LeeLife Director
Mrs Frank J GaffneyLife Director
Mrs Henry J Heinz IiLife Director
Mrs Henry L HillmanLife Director
Thomas ToddLife Director
Jeffery L LeiningerSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Travtours INCTour Logistics, Travel, And Support-$705,503
Red House CommunicationsMusic Director-$661,695
Nartak Media Group INCAdvertising Agency-$563,919
Knepper PressRadio Advertising-$226,204
-Printing & Mailing-$138,789
Revenue and Support

Revenue Composition

Contributions and Grants
$11,729,323
Program Service Revenue
$10,118,495
Investment Income
$9,646,455
Other Revenue
$1,188,341
All Other Contributions
$8,334,601
Change in Net Assets
$-2,094,037

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 Traded8$204,808Fair Market Value (FMV)
Total Noncash Contributions8$204,808-

Audited Revenue Reconciliation

Revenue per Audited Statements
$30,851,619
Revenue Not Reported on Financial Statements
$1,830,995
Revenue Not Reported on Form 990
$11,320,229
Other Revenue Adjustments
$1,511,037
Total Revenue per Audited Statements
$42,171,848
Total Revenue per Form 990
$32,682,614
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$23,191,544
Other Expenses$11,486,376
Total Fundraising Expense$1,151,510
Professional Fundraising Fees$98,731
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$16,999,125$670,279$659,124$18,328,528
Pension Plan Contributions$1,656,567$90,089$68,842$1,815,498
Advertising$1,428,717--$1,428,717
Travel$1,385,994--$1,385,994
Other Employee Benefits$1,017,214$165,644$155,920$1,338,778
Payroll Taxes$1,183,339$46,346$46,215$1,275,900
Depreciation Depletion-$1,197,702-$1,197,702
Occupancy$23,963$740,245-$764,208
Current Officers, Directors, Trustees, and Key Employees$83,102$268,637$81,101$432,840
Office Expenses$326,513$46,307$4,009$376,829
Fees for Service Investment Mgmnt Fees-$319,959-$319,959
Interest-$274,904-$274,904
Fees for Services Other$214,185$5,500$17,167$236,852
Insurance-$155,415-$155,415
Fees for Services Accounting-$145,649-$145,649
Fees for Services Lobbying-$126,000-$126,000
Conferences and Meetings$69,159$12,753$20,157$102,069
Fees for Services Professional Fundraising--$98,731$98,731
Information Technology-$68,821-$68,821
Other Expenses$5,217$31,430$244$36,891
Fees for Services Legal$11,917$3,945-$15,862
Total Functional Expenses$29,212,449$4,412,692$1,151,510$34,776,651

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$34,776,651
Total Expenses per Audited Statements$33,389,820
Expenses per Audited Statements$32,945,656
Expenses Not Reported on Financial Statements$1,830,995
Other Expense Adjustments$1,511,037
Expenses Not Reported on Form 990$444,164
International Activity

International Summary

Offices
0
Employees
0
Spending
$21,182,046

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 Caribbean-Investments00$19,489,368
EuropeOrchestra TouringClassical Music Performances00$1,692,678
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$385,472
Fundraising Gross Income$115,229
Professional Fundraising Fees$98,731
Gaming Gross Income$26,725
Gaming Direct Expenses$10,150

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$1,126,852$111,299$46,196$65,103
Event 2$11,201$3,930$13,782$-9,852
Total Events$1,138,053$115,229$385,472$-270,243
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$1,164,288--
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Pension Cost$17,436,000
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

A family relationship exists between benno bernt and constance bernt.

Form 990, Part VI, Section A, Line 6

All citizens of the community who contribute such annual amount as shall be set from time to time by the board of trustees of pittsburgh symphony, inc. (symphony) shall be members of the symphony during the remainder of the fiscal year in which such contribution was made during the next succeeding fiscal year.

Form 990, Part VI, Section A, Line 7A

The business at the annual meeting of members includes the election of trustees. At each annual meeting of members, the members shall elect trustees of the class whose term is expiring, to hold office until the end of the third year commencing with the date of assumption of office.

Form 990, Part VI, Section B, Line 11

The draft form 990 and required schedules are reviewed by the finance department. Upon completion of this review the form is finalized and a complete copy is provided to the audit committee in advance of filing with the internal revenue service.

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

On an annual basis, conflict of interest disclosure forms are distributed and collected by the cfo. The organization insists on 100% participation. Therefore, any unreturned forms are followed up on. The conflict of interest statements are reviewed by the cfo for any potential conflicts. Any issues discovered are brought to the attention of the audit committee.

Form 990, Part VI, Section B, Line 15

The compensation committee, which is a subcommittee of the board, meets periodically to set the compensation of the president and music director. The committee uses comparable data from other orchestras as well as other local non-profit organizations to determine compensation.

Form 990, Part VI, Section C, Line 19

Three years of audited financial statements are available to the public via the organization's website. The conflict of interest policy and governing documents are available upon request.

FORM 990, PART VI, QUESTION 1A, DELEGATION OF AUTHORITY:

The executive committee shall have all the powers and exercise all of the authority of the board of trustees, except as may be specially limited by the board of trustees or otherwise restricted by law.

Filing and Contact Details

Filer

EIN
25-0986052
Phone
4123924813

Signing Officer

Name
Scott Michael
Title
VP Finance & CFO
Phone
4123924813
Signed
2015-04-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James a Wilkinson
Formed
1935
Legal Domicile
Pa
Voting Board Members
73
Independent Board Members
72
Employees
601
Volunteers
110

Preparer

Preparer
Susan M Kirsch
Phone
4122613644
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Other changes in pension plan assets & obligations -5,566,000.

FORM 990, PART XII, QUESTION 2, OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT:

Pittsburgh symphony's financial statements are audited by an independent accounting firm to be selected by the audit committee or, in the absence of such, a selection by the board of trustees. This process has not changed from the prior year.

Financial Statement Notes

PART V, LINE 4:

The pittsburgh symphony orchestra uses the endowment to meet its yearly budget, as well as to provide a secure financial baseline for its future growth. Only a small percentage of income is contributed to operating expenses while the principal is never invaded.

PART X, LINE 2:

No provision for federal taxes on income has been included in the financial statements, since psi qualifies as a tax-exempt organization, meeting the requirements of section 501(c)(3) of the internal revenue code. Psi has not identified any material uncertain tax positions requiring an accrual or disclosure in the financial statements. Psi's policy is to accrue interest and penalties related to unrecognized tax benefits in general and administrative expenses. The statutory tax years of 2011, 2012 and 2013 remain open to examination.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Special event expenses 395,622. Revenue reported by trust on separate form 990 367,743. Cost of goods sold 48,542.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Fundraising expenses 1,511,037.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Special event expenses 395,622. Cost of goods sold 48,542.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Fundraising expenses 1,511,037.

PART V, ENDOWMENT FUNDS, QUESTION 2, ENDOWMENT BALANCES:

Board designated or quasi-endowment: ($4,255) permanent endowment: $133,898

Raw XML AppendixShowing 400 of 1,494 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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IRS990/Desc0THE PITTSBURGH SYMPHONY ORCHESTRA HAS BEEN A VITAL PART OF THE CITY OF PITTSBURGH'S HERITAGE FOR MORE THAN 115 YEARS. WITH ITS NOBLE HISTORY OF THE FINEST CONDUCTORS AND MUSICIANS, AND ITS STRONG COMMITMENT TO ARTISTIC QUALITY AND EXCELLENCE, AUDIENCES AROUND THE WORLD HAVE CLAIMED THE PSO AS THEIR ORCHESTRA OF CHOICE. IN SEPTEMBER 2008, THE PSO WELCOMED ITS NINTH MUSIC DIRECTOR, MANFRED HONECK. IN FEBRUARY 2012, HE AGREED TO EXTEND HIS TENURE AT THE PSO THORUGH THE 2019-2020 SEASON. BEGINNING IN THE EARLY 1900S, WITH FREQUENT PERFORMANCES IN CANADA, THE PSO CONFIRMED ITS RANKING AS A WORLD-CLASS ORCHESTRA, EARNING CRITICAL ACCLAIM FOR EACH TOUR ABROAD. ITS 38 INTERNATIONAL TOURS INCLUDE 20 EUROPEAN TOURS, EIGHT TRIPS TO THE FAR EAST AND TWO TO SOUTH AMERICA. AT HOME IN HEINZ HALL, THE ORCHESTRA PERFORMS 20 WEEKENDS OF BNY MELLON GRAND CLASSICS PERFORMANCES AND 7 PNC POPS CONCERT WEEKENDS, IN ADDITION TO EDUCATIONAL AND CHILDREN'S PROGRAMMING.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$188$23.7$164$55.2$42.7$12.5
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$165$19.2$146$30.8$39.2$8.40
2022Detailed filing. Detailed filing data is available for this year.$168$19.8$148$35.7$33.3$2.39
2021Detailed filing. Detailed filing data is available for this year.$194$29.9$165$30.7$23.6$7.14
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$161$37.6$123$44.9$33.3$11.6
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$153$44.0$109$36.5$36.1$0.48
2018Detailed filing. Detailed filing data is available for this year.$160$34.8$125$45.2$36.8$8.44
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$152$38.9$113$30.0$32.9$2.92
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$147$45.6$101$31.7$38.0$6.21
2015Detailed filing. Detailed filing data is available for this year.$149$35.9$113$43.6$34.6$9.06
2014Detailed filing. Detailed filing data is available for this year.$148$33.0$115$32.7$34.8$2.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$140$27.7$112$36.7
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$133$36.2$96.7$34.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$137$31.3$105$34.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$123$32.0$90.7$34.7
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)3 • $100M-$250M nonprofits