Civic Intelligence

Plano Symphony Orchestra Non-Profit Corp

990 • Fiscal year 2019 • EIN 75-1929103

Jul 01, 2018 to Jun 30, 2019 • Filed on Feb 22, 2020

1635 Dorchester DrivePlano, TX 75075

(972) 473-7262

Siviq Scores

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

Liabilities / Assets

80th percentile

0.47x

Higher debt load relative to assets than 80% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

78th percentile

0.47x

Higher debt load relative to revenue than 78% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

16th percentile

-15%

Higher net margin than 16% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

62nd percentile

$86,700

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

72nd percentile

13%

Faster asset growth than 72% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

62nd percentile

9.6%

Faster revenue growth than 62% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,718,795

Up $203,799 (+13%) from 2018

Net Assets

Down

$908,767

Down $260,313 (-22%) from 2018

Liabilities

Up

$810,028

Up $464,112 (+134%) from 2018

Revenue

Up

$1,741,256

Up $151,925 (+9.6%) from 2018

Expenses

Up

$2,004,299

Up $302,593 (+18%) from 2018

Net Income

Down

-$263,043

Down $150,668 (-134%) from 2018

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 2011: $1,363,744Liabilities 2011: $287,168Net Assets 2011: $1,076,5762011Assets 2012: $1,399,950Liabilities 2012: $281,156Net Assets 2012: $1,118,7942012Assets 2013: $1,348,827Liabilities 2013: $296,082Net Assets 2013: $1,052,7452013Assets 2014: $1,359,048Liabilities 2014: $310,900Net Assets 2014: $1,048,1482014Assets 2015: $1,518,647Liabilities 2015: $331,078Net Assets 2015: $1,187,5692015Assets 2016: $1,516,814Liabilities 2016: $347,168Net Assets 2016: $1,169,6462016Assets 2017: $1,583,809Liabilities 2017: $336,382Net Assets 2017: $1,247,4272017Assets 2018: $1,514,996Liabilities 2018: $345,916Net Assets 2018: $1,169,0802018Assets 2019: $1,718,795Liabilities 2019: $810,028Net Assets 2019: $908,7672019Assets 2020: $1,435,956Liabilities 2020: $826,593Net Assets 2020: $609,3632020Assets 2021: $1,380,082Liabilities 2021: $743,105Net Assets 2021: $636,9772021Assets 2022: $1,794,236Liabilities 2022: $702,058Net Assets 2022: $1,092,1782022Assets 2023: $1,770,549Liabilities 2023: $882,539Net Assets 2023: $888,0102023Assets 2024: $1,914,104Liabilities 2024: $885,518Net Assets 2024: $1,028,5862024Assets 2025: $2,467,606Liabilities 2025: $1,044,442Net Assets 2025: $1,423,1642025

Highlighted filing

2019

Assets$1,718,795
Liabilities$810,028
Net Assets$908,767

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $1,271,6402011Expenses 2012: $1,303,5462012Revenue 2013: $1,303,681Expenses 2013: $1,425,212Net Income 2013: -$121,5312013Revenue 2014: $1,313,061Expenses 2014: $1,418,419Net Income 2014: -$105,3582014Revenue 2015: $1,632,563Expenses 2015: $1,505,004Net Income 2015: $127,5592015Revenue 2016: $1,587,925Expenses 2016: $1,564,930Net Income 2016: $22,9952016Revenue 2017: $1,646,161Expenses 2017: $1,627,937Net Income 2017: $18,2242017Revenue 2018: $1,589,331Expenses 2018: $1,701,706Net Income 2018: -$112,3752018Revenue 2019: $1,741,256Expenses 2019: $2,004,299Net Income 2019: -$263,0432019Revenue 2020: $1,473,784Expenses 2020: $1,744,988Net Income 2020: -$271,2042020Revenue 2021: $1,338,686Expenses 2021: $1,343,265Net Income 2021: -$4,5792021Revenue 2022: $2,161,170Expenses 2022: $1,658,398Net Income 2022: $502,7722022Revenue 2023: $1,549,803Expenses 2023: $1,753,971Net Income 2023: -$204,1682023Revenue 2024: $2,254,601Expenses 2024: $2,126,642Net Income 2024: $127,9592024Revenue 2025: $2,838,501Expenses 2025: $2,480,283Net Income 2025: $358,2182025

Highlighted filing

2019

Revenue$1,741,256
Expenses$2,004,299
Net Income-$263,043
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Feb 22, 2020
Return Version
2018v3.2
Gross Receipts
$2,868,355
Mission and Program Overview

Mission

It is the mission of our orchestra to inspire, educate, entertain and involve the children, youth and adults of our community in the enjoyment of great music. The pso's education vision is to ensure that music is available to as many people as possible regardless of age, race, ethnicity, or socio-economic status.

It is the mission of the plano symphony orchestra to inspire, educate, entertain and involve the children, youth and adults of our community in the enjoyment of great music.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$45,910$665,955▲ $620,045
Investments in Publicly Traded Securities$781,801$608,191▼ $173,610
Pledges and Grants Receivable$293,091$258,231▼ $34,860
Cash and Non-Interest-Bearing Accounts$205,316$57,450▼ $147,866
Prepaid Expenses and Deferred Charges$36,391$33,070▼ $3,321
Savings and Temporary Cash Investments-$16,422-
Total Assets$1,514,996$1,718,795▲ $203,799
Other Assets Total$152,487$79,476▼ $73,011
Liabilities
Mortgage Notes Payable Secured by Investment Property-$480,660-
Deferred Revenue$331,801$315,349▼ $16,452
Accounts Payable and Accrued Expenses$14,115$14,019▼ $96
Total Liabilities$345,916$810,028▲ $464,112
Net Assets / Fund Balance
Unrestricted Net Assets$765,505$607,528▼ $157,977
Temporarily Rstr Net Assets$403,575$301,239▼ $102,336
Total Net Assets Fund Balance$1,169,080$908,767▼ $260,313
Total Liabilities and Net Assets / Fund Balance$1,514,996$1,718,795▲ $203,799

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$516,410$11,238$527,648
Equipment$50,545$76,132$126,677
Land$99,000-$99,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$128,485$763▲ $7,299-$136,547
2017$121,510$235▲ $6,740-$128,485
2016$110,386$210▲ $10,914-$121,510
2015$111,565$460▼ $1,639-$110,386
2014$110,018$100▲ $1,447-$111,565
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Robert a ReedExecutive DiFT$86,700$86,700

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$776,611
Program Service Revenue
$745,982
Investment Income
$35,052
Other Revenue
$183,611
All Other Contributions
$316,103
Change in Net Assets
$-263,043

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 Amount
Other Non Cash Contri Table1$46,827
Other Non Cash Contri Table1$6,754
Total Noncash Contributions2$53,581

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,741,256
Revenue Not Reported on Form 990
$55,721
Total Revenue per Audited Statements
$1,796,977
Total Revenue per Form 990
$1,741,256
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,377,386
Salaries, Compensation, and Employee Benefits$626,913
Total Fundraising Expense$527,347
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$536,223--$536,223
Other Salaries and Wages$262,499$52,346$138,497$453,342
Advertising$143,487--$143,487
Current Officers, Directors, Trustees, and Key Employees$26,795$16,842$43,063$86,700
All Other Expenses$19,935$58,364-$78,299
Other Employee Benefits$24,312$6,592$17,167$48,071
Payroll Taxes$19,623$5,321$13,856$38,800
Interest-$25,130-$25,130
Office Expenses-$24,155$665$24,820
Other Expenses$155,011$22,942$131,563$22,942
Depreciation Depletion-$21,363-$21,363
Occupancy-$20,510-$20,510
Fees for Services Accounting-$16,300-$16,300
Insurance-$13,004-$13,004
Fees for Service Investment Mgmnt Fees-$6,198-$6,198
Total Functional Expenses$1,187,885$289,067$527,347$2,004,299

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,057,290
Expenses per Audited Statements$2,004,299
Total Expenses per Form 990$2,004,299
Expenses Not Reported on Form 990$52,991
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$183,611
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
"ENCORE" GUILD$287,526$172,936-$172,936
Tickets for Dra$10,675$10,675-$10,675
Total Events$298,201$183,611-$183,611
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

The organization's by-laws provide for an annual election of directors. The election is held at the annual meeting in june of each year.

Form 990, Page 6, Part VI, Line 11B

The finance and business oversight committee (a board of directors appointed committee) will review the form. The form 990 will also be distributed to the entire board of directors before filing the form.

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

Conflict of interest policy forms are signed annually by all directors. The executive committee reviews all conflict of interest statements with a view to minimizing the potential for any detrimental effects from conflicts and excess benefits under section 4958 of the internal revenue code. A report of all conflicts voted during the preceding year or reported by directors is forwarded to the board of directors by the executive committee with a statement of applicable exceptions for each conflict or of a finding of no conflict.

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

The process used to determine compensation utilizes the annual survey data provided by the league of american orchestras (lao). Salary range comparisons are reviewed based on budget size and size of staff. Compensation is then based on performance and overall contribution as determined by the performance appraisal committee.

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

The process used to determine compensation for utilizes the annual survey data provided by the league of american orchestras (lao). Salary range comparisons are reviewed based on budget size and size of staff. Compensation is then based on performance and overall contribution as determined by the performance appraisal committee.

Form 990, Page 6, Part VI, Line 19

The governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Plano Symphony Orchestra Assoc
EIN
75-1929103
Phone
9724737262
Address
1635 DORCHESTER DRIVE, PLANO, TX 75075

Signing Officer

Name
Robert a Reed
Title
Executive Director
Phone
9724737262
Signed
2020-02-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert a Reed
Formed
1983
Legal Domicile
TX
Voting Board Members
30
Independent Board Members
30
Employees
12
Volunteers
251,300

Preparer

Firm
Psk Llp
Address
3001 MEDLIN DR STE 100, ARLINGTON, TX 76015
Preparer
Kathy Howlett
Phone
8176643000
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Volunteers are crucial to the plano symphony orchestra. Their services provided include the following: 1) secretarial/interns, 2) guild committees, 3) debutante program, 4) applause (teen volunteers), 5) board committee work, 6) ushers (concert production), and 7) education program.

Form 990, Part IX, Line 11G

Artistic services 536,223 0 0

Form 990, Part XI, Line 9

Investment fees -6,198 investment fees 6,198

Financial Statement Notes

Schedule D, Page 3, Part X

The association follows the income taxes topic of the fasb asc, which prescribes a comprehensive model for the financial statement recognition, measurement, presentation and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. The association is not aware of any activities that would jeopardize its tax-exempt status and is not aware of any activities that are subject to tax on unrelated business income. As of june 30, 2019, the association has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements and does not expect this to change in the next twelve months. The 2016 through 2019 tax years remain subject to examination by the internal revenue service.

Schedule D, Page 4, Part XI, Line 2D

INVESTMENT FEES -6,198

Schedule D, Page 4, Part XII, Line 2D

INVESTMENT FEES -6,198

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.47$1.04$1.42$2.84$2.48$0.36
2024Detailed filing. Detailed filing data is available for this year.$1.91$0.89$1.03$2.25$2.13$0.13
2023Detailed filing. Detailed filing data is available for this year.$1.77$0.88$0.89$1.55$1.75$0.20
2022Detailed filing. Detailed filing data is available for this year.$1.79$0.70$1.09$2.16$1.66$0.50
2021Detailed filing. Detailed filing data is available for this year.$1.38$0.74$0.64$1.34$1.34$0.00
2020Detailed filing. Detailed filing data is available for this year.$1.44$0.83$0.61$1.47$1.74$0.27
2019Detailed filing. Detailed filing data is available for this year.$1.72$0.81$0.91$1.74$2.00$0.26
2018Detailed filing. Detailed filing data is available for this year.$1.51$0.35$1.17$1.59$1.70$0.11
2017Detailed filing. Detailed filing data is available for this year.$1.58$0.34$1.25$1.65$1.63$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.52$0.35$1.17$1.59$1.56$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.52$0.33$1.19$1.63$1.51$0.13
2014Detailed filing. Detailed filing data is available for this year.$1.36$0.31$1.05$1.31$1.42$0.11
2013Summary only. Only limited summary data is available for this year.$1.35$0.30$1.05$1.30$1.43$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$0.28$1.12$1.30
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$0.29$1.08$1.27