Civic Intelligence

Hawaii Symphony Orchestra

990 • Fiscal year 2018 • EIN 45-2861988

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 14, 2018

3610 Waialae AvenueHonolulu, HI 96816

(808) 946-8742

Siviq Scores

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

Liabilities / Assets

100th percentile

5.28x

Higher debt load relative to assets than 100% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

77th percentile

0.45x

Higher debt load relative to revenue than 77% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

31st percentile

-3.0%

Higher net margin than 31% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

73rd percentile

11%

Faster asset growth than 73% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

45th percentile

1.9%

Faster revenue growth than 45% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$358,224

Up $35,646 (+11%) from 2017

Net Assets

Down

-$1,534,311

Down $128,309 (-9.1%) from 2017

Liabilities

Up

$1,892,535

Up $163,955 (+9.5%) from 2017

Revenue

Up

$4,209,551

Up $79,521 (+1.9%) from 2017

Expenses

Up

$4,337,860

Up $103,827 (+2.5%) from 2017

Net Income

Down

-$128,309

Down $24,306 (-23%) from 2017

Historical Trend

Balance Sheet Trend

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

$4.0M$2.0M$0-$2.0MAssets 2012: $48,681Liabilities 2012: $452,910Net Assets 2012: -$404,2292012Assets 2013: $556,503Liabilities 2013: $927,684Net Assets 2013: -$371,1812013Assets 2014: $674,737Liabilities 2014: $1,042,144Net Assets 2014: -$367,4072014Assets 2015: $519,348Liabilities 2015: $967,785Net Assets 2015: -$448,4372015Assets 2016: $383,281Liabilities 2016: $1,524,280Net Assets 2016: -$1,140,9992016Assets 2017: $322,578Liabilities 2017: $1,728,580Net Assets 2017: -$1,406,0022017Assets 2018: $358,224Liabilities 2018: $1,892,535Net Assets 2018: -$1,534,3112018Assets 2019: $233,607Liabilities 2019: $2,136,686Net Assets 2019: -$1,903,0792019Assets 2020: $1,221,320Liabilities 2020: $2,342,243Net Assets 2020: -$1,120,9232020Assets 2021: $1,894,808Liabilities 2021: $2,225,015Net Assets 2021: -$330,2072021Assets 2022: $1,519,510Liabilities 2022: $1,948,319Net Assets 2022: -$428,8092022Assets 2023: $866,053Liabilities 2023: $1,450,978Net Assets 2023: -$584,9252023Assets 2024: $778,694Liabilities 2024: $1,564,574Net Assets 2024: -$785,8802024

Highlighted filing

2018

Assets$358,224
Liabilities$1,892,535
Net Assets-$1,534,311

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2012: $2,018,268Expenses 2012: $2,434,178Net Income 2012: -$415,9102012Revenue 2013: $1,618,780Expenses 2013: $1,132,316Net Income 2013: $486,4642013Revenue 2014: $3,730,328Expenses 2014: $3,486,554Net Income 2014: $243,7742014Revenue 2015: $3,642,059Expenses 2015: $3,562,089Net Income 2015: $79,9702015Revenue 2016: $3,962,342Expenses 2016: $4,493,904Net Income 2016: -$531,5622016Revenue 2017: $4,130,030Expenses 2017: $4,234,033Net Income 2017: -$104,0032017Revenue 2018: $4,209,551Expenses 2018: $4,337,860Net Income 2018: -$128,3092018Revenue 2019: $4,486,862Expenses 2019: $4,822,527Net Income 2019: -$335,6652019Revenue 2020: $5,979,944Expenses 2020: $5,177,600Net Income 2020: $802,3442020Revenue 2021: $3,427,588Expenses 2021: $2,636,872Net Income 2021: $790,7162021Revenue 2022: $5,732,337Expenses 2022: $5,857,276Net Income 2022: -$124,9392022Revenue 2023: $5,109,783Expenses 2023: $5,234,393Net Income 2023: -$124,6102023Revenue 2024: $5,107,537Expenses 2024: $5,277,904Net Income 2024: -$170,3672024

Highlighted filing

2018

Revenue$4,209,551
Expenses$4,337,860
Net Income-$128,309
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 14, 2018
Return Version
2017v2.2
Gross Receipts
$4,209,551
Mission and Program Overview

Mission

Establish and operate a professional symphony in Hawaii that will present the highest

Establish and operate a professional symphony in hawaii that will present the highest quality performances of great music, bringing national and international distinction to the orchestra and the community, to delight and educate diverse audiences of all ages and enhance the cultural vitality and quality of life in the region, and operate in a financially sound manner.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$472,847$550,847▲ $78,000
Land, Buildings, and Equipment, Net$126,940$117,469▼ $9,471
Cash and Non-Interest-Bearing Accounts$54,442$112,891▲ $58,449
Accounts Receivable$109,710$109,689▼ $21
Prepaid Expenses and Deferred Charges$30,262$9,693▼ $20,569
Investments in Publicly Traded Securities-$6,776-
Inventories for Sale or Use$1,224$1,224→ $0
Total Assets$322,578$358,224▲ $35,646
Other Assets Total-$482-
Liabilities
Mortgage Notes Payable Secured by Investment Property$672,781$570,112▼ $102,669
Accounts Payable and Accrued Expenses$340,703$567,940▲ $227,237
Deferred Revenue$239,329$199,889▼ $39,440
Other Liabilities$2,920$3,747▲ $827
Total Liabilities$1,728,580$1,892,535▲ $163,955
Net Assets / Fund Balance
Unrestricted Net Assets$-1,406,002$-1,534,311▼ $128,309
Total Net Assets Fund Balance$-1,406,002$-1,534,311▼ $128,309
Total Liabilities and Net Assets / Fund Balance$322,578$358,224▲ $35,646

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$117,469$78,161$195,630
Other Assets Org$482--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Paul KosasaChairman
Vicky CayetanoVice Chairwoman
Kitty YannoneDirector
MITCHELL D'OLIERDirector
Marilyn KatzmanDirector
Mark HurtDirector
Mark WongDirector
Michael TittertonDirector
Richard IngDirector
Virginia TiuDirector
Kenneth RobbinsSecretary
Marcus PolivkaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,338,439
Program Service Revenue
$1,851,722
Investment Income
$0
Other Revenue
$19,390
All Other Contributions
$2,323,990
Change in Net Assets
$-128,309

Noncash Contribution Practices

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

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,209,551
Total Revenue per Audited Statements
$4,209,551
Total Revenue per Form 990
$4,209,551
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,906,124
Other Expenses$1,431,736
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,643,992$341,227$0$1,985,219
Other Employee Benefits$621,739$70,812$0$692,551
Payroll Taxes$195,976$32,378$0$228,354
Advertising$189,409$0$0$189,409
All Other Expenses$136,476$0$0$136,476
Office Expenses$0$110,066$0$110,066
Travel$106,670$0$0$106,670
Other Expenses$59,691$0$0$59,691
Insurance$0$39,748$0$39,748
Occupancy$0$28,123$0$28,123
Interest$0$25,823$0$25,823
Fees for Services Other$0$24,105$0$24,105
Depreciation Depletion$0$9,380$0$9,380
Fees for Services Legal$0$1,080$0$1,080
Total Functional Expenses$3,655,118$682,742$0$4,337,860

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,337,860
Total Expenses per Audited Statements$4,337,860
Total Expenses per Form 990$4,337,860
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
Loans from Officers, Directors, Trustees, and Key Employees$472,847$550,847▲ $78,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Liabilities$3,747
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
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
Filing and Contact Details

Filer

Filer Name
Hawaii Symphony Orchestra
EIN
45-2861988
Phone
8089468742
Address
3610 Waialae Avenue, Honolulu, HI 96816

Signing Officer

Name
Jonathan Parrish
Title
Executive Director
Phone
8089468742
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jonathan Parrish
Formed
2011
Legal Domicile
Hi
Voting Board Members
12
Independent Board Members
12
Employees
263
Volunteers
50

Preparer

Firm
Gerald Y Ushijima CPA
Address
1110 UNIVERSITY AVE STE 508, HONOLULU, HI 96826-1508
Preparer
Gerald Y Ushijima
Phone
8089495588
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The Form 990 is reviewed in detail and approved by the Center's Executive Director, Treasurer, and Board of Directors.

Pt VI, Line 11B

Prior to filing, the form 990 with schedules was delivered electronically to each director with a request to review it and call the finance director with any questions or comments; subsequent to filing the form 990 will be reviewed by the directors in a board meeting.

Pt VI, Line 19

These documents are available at the organization's office and would have been made available upon request.

Form 990, Part IX, Line 24E

Production miscellaneous 112476. 112476. 0. 0.

Form 990, Part IX, Line 24E

Artist acquition/negotiation 24000. 24000. 0. 0.

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