Civic Intelligence

New Mexico Philharmonic Inc.

990 • Fiscal year 2017 • EIN 27-1148446

Sep 01, 2016 to Aug 31, 2017 • Filed on Feb 06, 2018

PO Box 21428Albuquerque, NM 87154

(505) 323-4343

Siviq Scores

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

Liabilities / Assets

94th percentile

0.85x

Higher debt load relative to assets than 94% of similar nonprofits.

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

Liabilities / Revenue

72nd percentile

0.25x

Higher debt load relative to revenue than 72% of similar nonprofits.

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

Net Margin

29th percentile

-4.9%

Higher net margin than 29% of similar nonprofits.

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

Top Officer Pay

65th percentile

$90,000

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

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

Asset Growth

5th percentile

-23%

Faster asset growth than 5% of similar nonprofits.

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

Revenue Growth

28th percentile

-8.9%

Faster revenue growth than 28% of similar nonprofits.

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

Assets

Down

$551,484

Down $160,366 (-23%) from 2016

Net Assets

Down

$81,406

Down $92,440 (-53%) from 2016

Liabilities

Down

$470,078

Down $67,926 (-13%) from 2016

Revenue

Down

$1,889,840

Down $183,586 (-8.9%) from 2016

Expenses

Down

$1,982,280

Down $222,912 (-10%) from 2016

Net Income

Up

-$92,440

Up $39,326 (+30%) from 2016

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2011: $377,732Liabilities 2011: $94,545Net Assets 2011: $283,1872011Assets 2014: $689,465Liabilities 2014: $417,337Net Assets 2014: $272,1282014Assets 2015: $623,382Liabilities 2015: $317,770Net Assets 2015: $305,6122015Assets 2016: $711,850Liabilities 2016: $538,004Net Assets 2016: $173,8462016Assets 2017: $551,484Liabilities 2017: $470,078Net Assets 2017: $81,4062017Assets 2018: $575,929Liabilities 2018: $512,321Net Assets 2018: $63,6082018Assets 2019: $625,539Liabilities 2019: $572,023Net Assets 2019: $53,5162019Assets 2021: $1,077,927Liabilities 2021: $477,705Net Assets 2021: $600,2222021Assets 2022: $1,029,983Liabilities 2022: $485,265Net Assets 2022: $544,7182022Assets 2024: $837,492Liabilities 2024: $622,376Net Assets 2024: $215,1162024

Highlighted filing

2017

Assets$551,484
Liabilities$470,078
Net Assets$81,406

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 2011: $220,7102011Revenue 2014: $1,813,080Expenses 2014: $1,923,083Net Income 2014: -$110,0032014Revenue 2015: $2,068,003Expenses 2015: $2,037,369Net Income 2015: $30,6342015Revenue 2016: $2,073,426Expenses 2016: $2,205,192Net Income 2016: -$131,7662016Revenue 2017: $1,889,840Expenses 2017: $1,982,280Net Income 2017: -$92,4402017Revenue 2018: $2,269,541Expenses 2018: $2,287,127Net Income 2018: -$17,5862018Revenue 2019: $2,350,054Expenses 2019: $2,358,619Net Income 2019: -$8,5652019Revenue 2021: $1,814,697Expenses 2021: $1,143,998Net Income 2021: $670,6992021Revenue 2022: $2,636,402Expenses 2022: $2,689,648Net Income 2022: -$53,2462022Revenue 2024: $3,145,401Expenses 2024: $3,097,214Net Income 2024: $48,1872024

Highlighted filing

2017

Revenue$1,889,840
Expenses$1,982,280
Net Income-$92,440
Jump To
Filing Snapshot
Filing Period
Sep 1, 2016 to Aug 31, 2017
Signed
Feb 6, 2018
Return Version
2016v3.0
Gross Receipts
$1,928,072
Mission and Program Overview

Mission

The new mexico philharmonic enriches the lives of new mexicans through musical excellence, educational opportunities and community engagement.

As the major professional orchestra in the state, the new mexico philharmonic is committed to inspiring audiences of all ages and backgrounds through its artistic excellence, innovative programming and education, and community engagement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$353,094$344,171▼ $8,923
Pledges and Grants Receivable$276,371$106,257▼ $170,114
Land, Buildings, and Equipment, Net$62,569$52,398▼ $10,171
Cash and Non-Interest-Bearing Accounts$15,665$34,322▲ $18,657
Loans From Officers Directors$0$15,000▲ $15,000
Prepaid Expenses and Deferred Charges$4,151$7,913▲ $3,762
Investments in Publicly Traded Securities-$6,423-
Total Assets$711,850$551,484▼ $160,366
Liabilities
Deferred Revenue$378,094$341,296▼ $36,798
Unsecured Notes Loans Payable$99,000$85,000▼ $14,000
Accounts Payable and Accrued Expenses$60,910$28,782▼ $32,128
Total Liabilities$538,004$470,078▼ $67,926
Net Assets / Fund Balance
Temporarily Rstr Net Assets$225,371$127,673▼ $97,698
Unrestricted Net Assets$-51,525$-46,267▲ $5,258
Total Net Assets Fund Balance$173,846$81,406▼ $92,440
Total Liabilities and Net Assets / Fund Balance$711,850$551,484▼ $160,366

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$28,583$41,417$70,000
Equipment$23,815$25,740$49,555
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Marian TanauExecutive DirectorFT$90,000$90,000

Board Members and Trustees

NameTitle
Maureen BacaPresident
Al StottsDirector
Barbara RiversDirector
Chris SchroederDirector
Dave TallDirector
David W PetersonDirector
Emily CorneliusDirector
Jeffery RomeroDirector
Michael BustamanteDirector
Michael WallaceDirector
Nancy Pressley-naimarkDirector
Roland GerencerDirector
Ruth BitsuiDirector
Tom DommeDirector
Kory HogganSecretary/treasurer
Anthony TrujilloV.p. of Operations
Revenue and Support

Revenue Composition

Contributions and Grants
$804,946
Program Service Revenue
$979,193
Investment Income
$73
Other Revenue
$105,628
All Other Contributions
$739,489
Change in Net Assets
$-92,440

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 Table56$27,420Auction Sales Price
Total Noncash Contributions56$27,420-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,889,840
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$65,986
Total Revenue per Audited Statements
$1,955,826
Total Revenue per Form 990
$1,889,840
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,148,926
Other Expenses$833,354
Total Fundraising Expense$218,290
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$892,570$47,747-$940,317
Advertising--$218,290$218,290
Payroll Taxes$88,413$18,996-$107,409
Current Officers, Directors, Trustees, and Key Employees$80,960$20,240-$101,200
Office Expenses$18,882$45,962-$64,844
Insurance$27,832$33,867-$61,699
Occupancy$12,465$27,452-$39,917
Fees for Services Accounting-$24,843-$24,843
Other Expenses$23,643$925-$24,568
Fees for Services Legal-$18,038-$18,038
Depreciation Depletion$12,902--$12,902
Fees for Services Other-$9,201-$9,201
Information Technology-$6,505-$6,505
Interest-$4,919-$4,919
Total Functional Expenses$1,505,295$258,695$218,290$1,982,280

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,048,266
Expenses per Audited Statements$1,982,280
Total Expenses per Form 990$1,982,280
Expenses Not Reported on Form 990$65,986
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$106,716
Fundraising Direct Expenses$37,533
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala and Raffle$96,432$85,432$886$84,546
Silent Auction$27,420---
Total Events$145,136$106,716$37,533$69,183
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$15,000▲ $15,000
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
No
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, Section A, Line 8B

No committee has authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the board of directors at a board meeting before it is filed.

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

Board members are required to sign conflict of interest policy agreements annually. They are kept on file.

Form 990, Part VI, Section B, Line 15A

The executive committee of the board of directors is responsible for setting the compensation of the executive director. The board of directors gathers data on comparable salaries based on the local economy, similar sized organizations, and jobs with similar qualifications.

Form 990, Part VI, Section C, Line 19

Financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
New Mexico Philharmonic Inc
EIN
27-1148446
Phone
5053234343
Address
PO BOX 21428, ALBUQUERQUE, NM 87154

Signing Officer

Name
Maureen Baca
Title
President
Phone
5053234343
Signed
2018-02-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marian Tanau
Formed
2009
Legal Domicile
Nm
Voting Board Members
16
Independent Board Members
16
Employees
196
Volunteers
60

Preparer

Firm
Atkinson & Co Ltd
Address
PO BOX 25246, ALBUQUERQUE, NM 87125
Preparer
Jessica Locker CPA
Phone
5058436492
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The audit committee assumes responsibility of oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The organization qualifies as a tax-exempt organization under section 501(c)(3) of the internal revenue code. The organization would record a liability for uncertain tax positions when it became probable that a loss has been incurred and the amount can be reasonably estimated. Interest would be recognized and accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. Management continually evaluates expiring statutes of limitations, proposed settlements, changes in tax law and new authoritative rulings. As of august 31, 2017 and 2016, no liabilities for uncertain tax positions have been recorded.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

COST OF GOOD SOLD 699.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

COST OF GOODS SOLD 699.

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IRS990/ActivityOrMissionDesc0AS THE MAJOR PROFESSIONAL ORCHESTRA IN THE STATE, THE NEW MEXICO PHILHARMONIC IS COMMITTED TO INSPIRING AUDIENCES OF ALL AGES AND BACKGROUNDS THROUGH ITS ARTISTIC EXCELLENCE, INNOVATIVE PROGRAMMING AND EDUCATION, AND COMMUNITY ENGAGEMENT.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2V.P. OF OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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/TitleTxt16EXECUTIVE DIRECTOR
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IRS990/MissionDesc0THE NEW MEXICO PHILHARMONIC ENRICHES THE LIVES OF NEW MEXICANS THROUGH MUSICAL EXCELLENCE, EDUCATIONAL OPPORTUNITIES AND COMMUNITY ENGAGEMENT.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION WOULD RECORD A LIABILITY FOR UNCERTAIN TAX POSITIONS WHEN IT BECAME PROBABLE THAT A LOSS HAS BEEN INCURRED AND THE AMOUNT CAN BE REASONABLY ESTIMATED. INTEREST WOULD BE RECOGNIZED AND ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. AS OF AUGUST 31, 2017 AND 2016, NO LIABILITIES FOR UNCERTAIN TAX POSITIONS HAVE BEEN RECORDED.

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