Civic Intelligence

Plano Symphony Orchestra Non-Profit Corp

990 • Fiscal year 2021 • EIN 75-1929103

Jul 01, 2020 to Jun 30, 2021 • Filed on Mar 25, 2022

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

85th percentile

0.54x

Higher debt load relative to assets than 85% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

81st percentile

0.56x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

25th percentile

-0.3%

Higher net margin than 25% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

62nd percentile

$83,519

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 6.2% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

15th percentile

-3.9%

Faster asset growth than 15% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

21st percentile

-9.2%

Faster revenue growth than 21% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$1,380,082

Down $55,874 (-3.9%) from 2020

Net Assets

Up

$636,977

Up $27,614 (+4.5%) from 2020

Liabilities

Down

$743,105

Down $83,488 (-10%) from 2020

Revenue

Down

$1,338,686

Down $135,098 (-9.2%) from 2020

Expenses

Down

$1,343,265

Down $401,723 (-23%) from 2020

Net Income

Up

-$4,579

Up $266,625 (+98%) from 2020

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

2021

Assets$1,380,082
Liabilities$743,105
Net Assets$636,977

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

2021

Revenue$1,338,686
Expenses$1,343,265
Net Income-$4,579
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Mar 25, 2022
Return Version
2020v4.0
Gross Receipts
$1,427,563
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$636,053$605,232▼ $30,821
Investments in Publicly Traded Securities$370,480$359,547▼ $10,933
Pledges and Grants Receivable$184,363$200,286▲ $15,923
Cash and Non-Interest-Bearing Accounts$159,358$156,442▼ $2,916
Prepaid Expenses and Deferred Charges$38,523$37,826▼ $697
Savings and Temporary Cash Investments$16,698$16,729▲ $31
Total Assets$1,435,956$1,380,082▼ $55,874
Other Assets Total$30,481$4,020▼ $26,461
Liabilities
Mortgage Notes Payable Secured by Investment Property$450,362$433,706▼ $16,656
Deferred Revenue$248,946$207,986▼ $40,960
Accounts Payable and Accrued Expenses$31,285$101,413▲ $70,128
Other Liabilities$96,000--
Total Liabilities$826,593$743,105▼ $83,488
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$392,130$460,624▲ $68,494
Net Assets With Donor Restrictions$217,233$176,353▼ $40,880
Total Net Assets Fund Balance$609,363$636,977▲ $27,614
Total Liabilities and Net Assets / Fund Balance$1,435,956$1,380,082▼ $55,874

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$475,306$52,342$527,648
Equipment$30,926$93,065$123,991
Land$99,000-$99,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$135,617-▲ $15,059-$150,676
2019$136,547-▼ $930-$135,617
2018$128,485$763▲ $7,299-$136,547
2017$121,510$235▲ $6,740-$128,485
2016$110,386$210▲ $10,914-$121,510
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Reed Robert aExecutive DiFT$83,519$83,519

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$592,800
Program Service Revenue
$615,508
Investment Income
$22,593
Other Revenue
$107,785
All Other Contributions
$295,292
Change in Net Assets
$-4,579

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,338,686
Revenue Not Reported on Form 990
$25,206
Total Revenue per Audited Statements
$1,363,892
Total Revenue per Form 990
$1,338,686
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$821,389
Salaries, Compensation, and Employee Benefits$521,876
Total Fundraising Expense$288,236
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$182,211$89,702$94,655$366,568
Fees for Services Other$291,812--$291,812
Current Officers, Directors, Trustees, and Key Employees$29,232$16,704$37,584$83,520
Advertising$72,132--$72,132
Other Employee Benefits$18,717$9,419$11,706$39,842
All Other Expenses$10,390$21,528$3,289$35,207
Interest-$33,627-$33,627
Payroll Taxes$15,008$7,552$9,386$31,946
Depreciation Depletion-$30,819-$30,819
Office Expenses-$17,931$72$18,003
Other Expenses$120,475$16,395$131,544$16,395
Fees for Services Accounting-$14,200-$14,200
Occupancy-$11,879-$11,879
Insurance-$11,215-$11,215
Fees for Service Investment Mgmnt Fees-$3,418-$3,418
Travel-$163-$163
Total Functional Expenses$739,977$315,052$288,236$1,343,265

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,343,265
Total Expenses per Form 990$1,343,265
Total Expenses per Audited Statements$1,336,278
Expenses Not Reported on Form 990$-6,987
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$97,660
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
"ENCORE" GUILD$163,270$89,420-$89,420
Tickets for Dra$8,240$8,240-$8,240
Total Events$171,510$97,660-$97,660
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 35% controlled entity
No
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
Reed Robert a
Title
Executive Director
Phone
9724737262
Signed
2022-03-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Reed Robert a
Formed
1983
Legal Domicile
TX
Voting Board Members
31
Independent Board Members
31
Employees
8
Volunteers
201,250

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, Page 2, Part III, Line 3

Due to the continuing pandemic, the symphony live streamed its season concerts in addition to how it usually conducts its program services.

Form 990, Page 2, Part III, Line 4A

The plano symphony presents over 200 concerts and events each year to an annual audience of approximately 190,000. This number was lessened due the continuation of the covid-19 pandemic. The 2020-2021 season included: - subscription series of 8 concerts, all made available through a hybrid presentation of in-person and live streaming - family series of 5 concerts across three different cities - school concerts presented both in person and streamed across 4 performances, reaching more than 7,000 area 4th and 5th graders; all schools received a musician visit recording. Before the covid crisis, many concerts were sold out and many other events were held for awareness, donor cultivation and appreciation, and marketing purposes.

Form 990, Part IX, Line 11G

Artistic services 291,812 0 0

Form 990, Part XI, Line 9

Investment fees -3,418 other -10,124 investment fees 3,418 other 10,124

Financial Statement Notes

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

Investment fees -3,418 other -10,124

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

Investment fees -3,418 other -10,124

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IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
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IRS990/OtherExpensesGrp/Desc0SPECIAL EVENTS EXPENSES
IRS990/OtherExpensesGrp/Desc1CONCERT PRODUCTION
IRS990/OtherExpensesGrp/Desc2BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/Desc3BANK/CREDIT CARD FEES

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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