Civic Intelligence

New World Symphony Inc.

990 • Fiscal year 2014 • EIN 59-2809056

Jul 01, 2013 to Jun 30, 2014 • Filed on Apr 30, 2015

500 17th StreetSuite33139

(305) 428-6700

Siviq Scores

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

Liabilities / Assets

17th percentile

0.08x

Higher debt load relative to assets than 17% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2014

Liabilities / Revenue

81st percentile

1.17x

Higher debt load relative to revenue than 81% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2014

Net Margin

38th percentile

3.7%

Higher net margin than 38% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2014

Top Officer Pay

7th percentile

$250,268

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2014

Asset Growth

34th percentile

3.7%

Faster asset growth than 34% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B 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

$276,508,863

Up $9,814,827 (+3.7%) from 2013

Net Assets

Up

$253,249,710

Up $9,273,800 (+3.8%) from 2013

Liabilities

Up

$23,259,153

Up $541,027 (+2.4%) from 2013

Revenue

$19,847,326

No earlier filing loaded for comparison.

Expenses

Down

$19,104,242

Down $1,313,116 (-6.4%) from 2013

Net Income

$743,084

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.

$300M$200M$100M$0Assets 2010: $241,693,208Liabilities 2010: $26,881,660Net Assets 2010: $214,811,5482010Assets 2011: $260,432,983Liabilities 2011: $31,245,458Net Assets 2011: $229,187,5252011Assets 2012: $265,582,074Liabilities 2012: $41,461,289Net Assets 2012: $224,120,7852012Assets 2013: $266,694,036Liabilities 2013: $22,718,126Net Assets 2013: $243,975,9102013Assets 2014: $276,508,863Liabilities 2014: $23,259,153Net Assets 2014: $253,249,7102014Assets 2015: $266,030,161Liabilities 2015: $23,269,421Net Assets 2015: $242,760,7402015Assets 2016: $252,589,599Liabilities 2016: $23,026,805Net Assets 2016: $229,562,7942016Assets 2017: $261,719,205Liabilities 2017: $24,344,409Net Assets 2017: $237,374,7962017Assets 2018: $258,976,273Liabilities 2018: $23,956,537Net Assets 2018: $235,019,7362018Assets 2019: $257,542,360Liabilities 2019: $22,921,908Net Assets 2019: $234,620,4522019Assets 2020: $257,346,893Liabilities 2020: $17,654,935Net Assets 2020: $239,691,9582020Assets 2021: $276,856,221Liabilities 2021: $22,461,172Net Assets 2021: $254,395,0492021Assets 2022: $279,723,631Liabilities 2022: $17,702,301Net Assets 2022: $262,021,3302022Assets 2023: $278,590,819Liabilities 2023: $16,157,526Net Assets 2023: $262,433,2932023Assets 2024: $297,697,672Liabilities 2024: $12,651,748Net Assets 2024: $285,045,9242024

Highlighted filing

2014

Assets$276,508,863
Liabilities$23,259,153
Net Assets$253,249,710

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $10,141,2092010Expenses 2011: $16,902,6262011Expenses 2012: $18,865,4052012Expenses 2013: $20,417,3582013Revenue 2014: $19,847,326Expenses 2014: $19,104,242Net Income 2014: $743,0842014Revenue 2015: $11,894,395Expenses 2015: $20,824,741Net Income 2015: -$8,930,3462015Revenue 2016: $10,657,854Expenses 2016: $19,590,062Net Income 2016: -$8,932,2082016Revenue 2017: $19,210,650Expenses 2017: $19,927,063Net Income 2017: -$716,4132017Revenue 2018: $14,489,185Expenses 2018: $20,585,302Net Income 2018: -$6,096,1172018Revenue 2019: $18,396,485Expenses 2019: $21,051,818Net Income 2019: -$2,655,3332019Revenue 2020: $26,085,222Expenses 2020: $20,963,403Net Income 2020: $5,121,8192020Revenue 2021: $35,310,734Expenses 2021: $20,165,935Net Income 2021: $15,144,7992021Revenue 2022: $46,402,310Expenses 2022: $22,800,115Net Income 2022: $23,602,1952022Revenue 2023: $5,651,060Expenses 2023: $23,758,486Net Income 2023: -$18,107,4262023Revenue 2024: $34,471,304Expenses 2024: $25,093,684Net Income 2024: $9,377,6202024

Highlighted filing

2014

Revenue$19,847,326
Expenses$19,104,242
Net Income$743,084
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Apr 30, 2015
Return Version
2013v4.0
Gross Receipts
$22,684,851
Mission and Program Overview

Mission

The new world symphony, america's only full-time orchestral academy, prepares gifted graduates of prestigious music programs for successful careers in orchestras and ensembles.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$170,399,597$166,772,558▼ $3,627,039
Investments in Publicly Traded Securities$62,634,115$76,962,146▲ $14,328,031
Investments Other Securities$23,733,683$21,981,100▼ $1,752,583
Pledges and Grants Receivable$7,531,039$9,137,472▲ $1,606,433
Prepaid Expenses and Deferred Charges$877,902$1,062,160▲ $184,258
Accounts Receivable$192,817$359,119▲ $166,302
Savings and Temporary Cash Investments$1,046,342$103,803▼ $942,539
Intangible Assets$74,012$78,709▲ $4,697
Cash and Non-Interest-Bearing Accounts$190,016$51,796▼ $138,220
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$266,694,036$276,508,863▲ $9,814,827
Other Assets Total$14,513$0▼ $14,513
Liabilities
Mortgage Notes Payable Secured by Investment Property$21,325,022$21,622,623▲ $297,601
Accounts Payable and Accrued Expenses$571,250$823,428▲ $252,178
Deferred Revenue$821,854$813,102▼ $8,752
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$22,718,126$23,259,153▲ $541,027
Net Assets / Fund Balance
Unrestricted Net Assets$150,294,532$144,504,054▼ $5,790,478
Permanently Rstr Net Assets$78,897,146$80,608,708▲ $1,711,562
Temporarily Rstr Net Assets$14,784,232$28,136,948▲ $13,352,716
Total Net Assets Fund Balance$243,975,910$253,249,710▲ $9,273,800
Total Liabilities and Net Assets / Fund Balance$266,694,036$276,508,863▲ $9,814,827

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$151,626,164$13,429,409$165,055,573
Equipment$3,981,394$7,542,819$11,524,213
Land$11,165,000-$11,165,000
Other Securities$21,981,100--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$92,712,576$1,711,562▲ $14,079,534$2,744,493$105,759,179
2012$85,374,530$665,097▲ $10,028,970$3,356,021$92,712,576
2011$87,784,498$945,322▼ $37,649$3,317,641$85,374,530
2010$74,567,100$3,155,714▲ $13,070,135$3,008,451$87,784,498
2009$36,322,951$37,656,993▲ $4,326,434$3,700,003$74,567,100
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Victoria RogersExecutive Vice PresidentFT$240,900$9,368$250,268
Howard HerringPresident/CEOFT$236,086$9,177$245,263
David PhillipsSr VP & CFOFT$200,849$7,768$208,617
Douglas MerilattSr VP & Artistic Planning/progFT$177,905$6,854$184,759
Ayden AdlerSr. VP./ Dean of MusiciansFT$158,015$6,060$164,075
Paul WoehrleSr Director of DevelopmentFT$114,185-$114,185
Faye MunningsVP & Assistant CFOFT$111,519-$111,519
Craig HallVP of CommunicationsFT$109,239-$109,239
Edward Manno ShumskyVice Chairman--$9,368$9,368
Rose Ellen GreeneChairpersonPT-$9,177$9,177
Mario de ArmasTreasurer--$7,768$7,768
Robert MossSecretary--$6,854$6,854
Sari AgatstonTrustee--$6,060$6,060
Sheldon T AndersonTrustee--$4,307$4,307
Jeffrey AkinTrustee--$4,203$4,203
Madeleine ArisonTrustee--$4,112$4,112

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Adp TotalsourceEmployee Leasing-$6,293,944
Crystal Co Of Florida INCInsurance-$886,519
Columbia Artists Management LLCArtists Services-$696,280
FplUtilities-$434,746
Opus 3 Artists LLCArtist Services-$175,500
Revenue and Support

Revenue Composition

Contributions and Grants
$13,639,400
Program Service Revenue
$1,654,533
Investment Income
$5,548,818
Other Revenue
$-995,425
All Other Contributions
$10,901,002
Change in Net Assets
$743,084

Audited Revenue Reconciliation

Revenue per Audited Statements
$19,847,326
Revenue Not Reported on Form 990
$11,484,375
Total Revenue per Audited Statements
$31,331,701
Total Revenue per Form 990
$19,847,326
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$16,642,819
Total Fundraising Expense$2,579,260
Grants and Similar Amounts Paid$1,408,439
Salaries, Compensation, and Employee Benefits$1,052,984
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$4,781,100--$4,781,100
Occupancy$1,874,000$35,260-$1,909,260
Grants to Domestic Individuals$1,408,439--$1,408,439
Current Officers, Directors, Trustees, and Key Employees$393,378$459,392$200,214$1,052,984
All Other Expenses$230,301$114,711$379,446$724,458
Other Expenses$502,253$4,410$158,866$502,253
Advertising$188,635-$238,156$426,791
Fees for Service Investment Mgmnt Fees$255,501--$255,501
Interest-$236,655-$236,655
Office Expenses$88,157$40,387$67,666$196,210
Information Technology$163,877--$163,877
Insurance$29,868$89,406-$119,274
Travel$35,730$24,584$37,330$97,644
Fees for Services Legal$14,622$50,750-$65,372
Fees for Services Accounting-$55,000-$55,000
Conferences and Meetings$17,379--$17,379
Total Functional Expenses$14,809,130$1,715,852$2,579,260$19,104,242

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$22,057,901
Expenses per Audited Statements$19,104,242
Total Expenses per Form 990$19,104,242
Expenses Not Reported on Form 990$2,953,659
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$346,565
Fundraising Gross Income$221,126
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$1,422,654$155,120$41,848$113,272
Event 2$93,780$19,694$7,981$11,713
Total Events$1,562,746$221,126$346,565$-125,439
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$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Section B, Line 12C

Employees and board members of nws have an obligation to conduct business within guidelines that minimize actual or potential conflicts of interest as much as possible. The policy establishes the framework within which nws wishes its business to operate. The purpose of these guidelines is to provide general direction so that employees and board members can seek further clarification on issues related to the subject of acceptable standards of operation. Staff members at director level and above and trustees are asked to complete a conflict of interest disclosure statement on an annual basis, which indicates whether or not they have participated in any business transaction that would give rise to a conflict of interest.

Form 990, Page 6, Part VI, Section B, Line 15A

The chairman of the board reviews comparability data when hiring a new president and annualy approves the president's compensation package based on performance. The president approves both the executive vice president and senior vice president's compensation package based on performance.

Form 990, Page 6, Part VI, Section C, Line 19

The organization makes its governing documents and conflict of interest policy available to the public upon request. The annual audited financial statements and form 990 are made available upon request. The form 990 is also available through access of guidestar.

Form 990, Page 6, Part VI, Section A, Line 10

The cfo is reponsible for the timely preparation of the form 990. It will then be presented to the finance committee sufficiently in advance of the filing deadling for their review. All members of the board of trustees will be invited to review the final form 990 upon request.

Form 990, Page 6, Part VI, Section A, Line 2

Sarah s. Arison - neice of harry m. Hersh

Filing and Contact Details

Filer

EIN
59-2809056
In Care Of
% DAVID PHILLIPS
Phone
3054286700

Signing Officer

Name
David Phillips
Title
Sr VP & CFO
Phone
3059959600
Signed
2015-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Phillips
Formed
1987
Legal Domicile
Fl
Voting Board Members
36
Independent Board Members
34
Employees
0
Volunteers
107

Preparer

Preparer
Donald Butler
Phone
3059959600
Supplemental Narrative

Financial Statement Notes

Schedule D, Part V, Line 4

During 1991, nws established the new world symphony endowment fund. The purpose of the endowment fund is to create a continuous development program that will enable individuals, corporations, and foundations to make gifts to nws, to provide for the permanent financing of the programs of nws, and to ensure the permanent existence of nws.

Schedule D, Part III, Line 4

New World Symphony believes the classical music experience begins when one crosses our NEW CAMPUS' threshold as a patron, musician or curious observer. Our NEW CAMPUS and its contents ARE the beginning of the experience. The art piece that has been so generously donated to new world symphony aids in the beginning of this experience.

Schedule D, Part XII Line 2D & Part XIII Line 2D

Direct Rental expenses of $2,455,227 are shown as expenses on the financial statements. However, Direct rental expenses are shown net of rental income on the Form 990 page 9. Direct Fundraising expenses of $346,565 are shown as expenses on the financial statements. However, Direct Fundraising expenses are shown net of fundraising income on the Form 990 page 9. Total Adjustment - $2,801,792

Schedule D, Part X, Line 2

Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken and recognize a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by taxing authorities. Management has analyzed the tax positions taken and has concluded that as of June 30, 2014, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. If the Organization were to incur an income tax liability in the future, interest would be reported as interest expense and penalties would be reported as income taxes. The Organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management believes the Organization is no longer subject to income tax examinations for years prior to 2011.

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IRS990/ActivityOrMissionDesc0THE NEW WORLD SYMPHONY, AMERICA'S ONLY FULL-TIME ORCHESTRAL ACADEMY, PREPARES GIFTED GRADUATES OF PRESTIGIOUS MUSIC PROGRAMS FOR SUCCESSFUL CAREERS IN ORCHESTRAS AND ENSEMBLES.
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IRS990/Desc0Orchestral Training: Each year, more than 150 visiting artists and coaches work with NWS Fellows, offering master classes and private lessons as well as instruction in audition preparation, performance psychology, communications, and community engagement. Instrumental coaches help prepare performance repertoire, lead sectional rehearsals, coach within ensemble settings, and play side-by-side with NWS Fellows in rehearsals and performances. Fellows learn how to connect with audience members in the concert hall and in the community. NWS' leadership development curriculum prepares Fellows to be self-confident, influential "artist-leaders" in whatever professional endeavors they pursue. Leveraging the Internet2 network-a high speed, next generation Internet-NWS Fellows also conduct and receive lessons, master classes, interviews, and rehearsals with musicians, composers, and performers around the world. In addition to this training, NWS Fellows participate in approximately 80 concerts over a 35-week season, offering a diverse repertoire through an array of performance formats to an annual audience of more than 60,000 South Florida residents and visitors. Under the direction of Michael Tilson Thomas, artistic programming is designed to give Fellows as broad a performing experience as possible. The repertoire includes solo, chamber ensemble, and full orchestra works ranging from compositions of the early 17th century to world premiere commissions. In addition to an Orchestra Subscription Series, NWS programming includes a chamber music series; a children's series; late-night "club concerts"; and a contemporary music series. With awards from the American Society of Composers, Authors and Publishers in 2003, 2007, 2008, 2009, 2011, and 2012 for Adventurous Programming of Contemporary Music, NWS continually demonstrates its commitment to new music. In the past five years, NWS has performed more than 15 world premiere pieces, most of which NWS commissioned or co-commissioned. The result of a multi-tiered training approach is an ever-growing cadre of NWS Fellows and alumni equipped with a deeper understanding of diverse styles and traditions within classical music; the ability to articulate this in their playing; and the skill to share their deeper understanding with audiences and with the next generation of musicians. In the 27 years since NWS' founding, nearly 1,000 alumni have gone on to make a difference in communities and organizations worldwide.
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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.$298$12.7$285$34.5$25.1$9.38
2023Detailed filing. Detailed filing data is available for this year.$279$16.2$262$5.65$23.8$18.1
2022Detailed filing. Detailed filing data is available for this year.$280$17.7$262$46.4$22.8$23.6
2021Detailed filing. Detailed filing data is available for this year.$277$22.5$254$35.3$20.2$15.1
2020Detailed filing. Detailed filing data is available for this year.$257$17.7$240$26.1$21.0$5.12
2019Detailed filing. Detailed filing data is available for this year.$258$22.9$235$18.4$21.1$2.66
2018Detailed filing. Detailed filing data is available for this year.$259$24.0$235$14.5$20.6$6.10
2017Detailed filing. Detailed filing data is available for this year.$262$24.3$237$19.2$19.9$0.72
2016Detailed filing. Detailed filing data is available for this year.$253$23.0$230$10.7$19.6$8.93
2015Detailed filing. Detailed filing data is available for this year.$266$23.3$243$11.9$20.8$8.93
2014Detailed filing. Detailed filing data is available for this year.$277$23.3$253$19.8$19.1$0.74
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$267$22.7$244$20.4
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$266$41.5$224$18.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$260$31.2$229$16.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$242$26.9$215$10.1