Civic Intelligence

The Pasadena Symphony Association

990 • Fiscal year 2018 • EIN 95-6002375

Oct 01, 2017 to Sep 30, 2018 • Filed on Aug 05, 2019

2 N Lake Ave Ste 1080Pasadena, CA 91101

(626) 793-7172

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.19x

Higher debt load relative to assets than 53% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

66th percentile

0.34x

Higher debt load relative to revenue than 66% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

54th percentile

4.1%

Higher net margin than 54% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

62nd percentile

$150,000

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

60th percentile

4.3%

Faster asset growth than 60% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

19th percentile

-10%

Faster revenue growth than 19% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Up

$8,114,874

Up $335,905 (+4.3%) from 2017

Net Assets

Up

$6,612,508

Up $214,183 (+3.3%) from 2017

Liabilities

Up

$1,502,366

Up $121,722 (+8.8%) from 2017

Revenue

Down

$4,403,022

Down $510,900 (-10%) from 2017

Expenses

Up

$4,223,001

Up $2,957 (+0.1%) from 2017

Net Income

Down

$180,021

Down $513,857 (-74%) from 2017

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2011: $4,887,771Liabilities 2011: $889,238Net Assets 2011: $3,998,5332011Assets 2012: $5,404,743Liabilities 2012: $1,086,568Net Assets 2012: $4,318,1752012Assets 2013: $5,427,941Liabilities 2013: $993,444Net Assets 2013: $4,434,4972013Assets 2014: $5,681,666Liabilities 2014: $996,354Net Assets 2014: $4,685,3122014Assets 2015: $6,371,839Liabilities 2015: $1,257,872Net Assets 2015: $5,113,9672015Assets 2016: $6,701,277Liabilities 2016: $1,243,689Net Assets 2016: $5,457,5882016Assets 2017: $7,778,969Liabilities 2017: $1,380,644Net Assets 2017: $6,398,3252017Assets 2018: $8,114,874Liabilities 2018: $1,502,366Net Assets 2018: $6,612,5082018Assets 2019: $8,826,296Liabilities 2019: $1,997,938Net Assets 2019: $6,828,3582019Assets 2020: $8,914,688Liabilities 2020: $2,163,070Net Assets 2020: $6,751,6182020Assets 2021: $11,596,205Liabilities 2021: $2,431,440Net Assets 2021: $9,164,7652021Assets 2022: $10,816,416Liabilities 2022: $1,841,210Net Assets 2022: $8,975,2062022Assets 2023: $10,960,446Liabilities 2023: $2,351,207Net Assets 2023: $8,609,2392023Assets 2024: $10,107,174Liabilities 2024: $2,343,197Net Assets 2024: $7,763,9772024

Highlighted filing

2018

Assets$8,114,874
Liabilities$1,502,366
Net Assets$6,612,508

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2011: $3,341,016Expenses 2011: $3,236,510Net Income 2011: $104,5062011Revenue 2012: $3,329,984Expenses 2012: $3,441,662Net Income 2012: -$111,6782012Revenue 2013: $3,001,066Expenses 2013: $3,113,539Net Income 2013: -$112,4732013Revenue 2014: $3,744,200Expenses 2014: $3,550,266Net Income 2014: $193,9342014Revenue 2015: $4,438,931Expenses 2015: $3,691,395Net Income 2015: $747,5362015Revenue 2016: $3,965,365Expenses 2016: $3,682,590Net Income 2016: $282,7752016Revenue 2017: $4,913,922Expenses 2017: $4,220,044Net Income 2017: $693,8782017Revenue 2018: $4,403,022Expenses 2018: $4,223,001Net Income 2018: $180,0212018Revenue 2019: $4,768,880Expenses 2019: $4,520,922Net Income 2019: $247,9582019Revenue 2020: $2,667,705Expenses 2020: $2,759,752Net Income 2020: -$92,0472020Revenue 2021: $5,563,647Expenses 2021: $3,865,488Net Income 2021: $1,698,1592021Revenue 2022: $5,924,538Expenses 2022: $5,659,992Net Income 2022: $264,5462022Revenue 2023: $5,397,923Expenses 2023: $5,836,538Net Income 2023: -$438,6152023Revenue 2024: $5,111,761Expenses 2024: $6,811,474Net Income 2024: -$1,699,7132024

Highlighted filing

2018

Revenue$4,403,022
Expenses$4,223,001
Net Income$180,021
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Aug 5, 2019
Return Version
2017v2.3
Gross Receipts
$6,036,219
Mission and Program Overview

Mission

Our mission is to provide orchestral performances of the highest quality and to benefit the community through its music, community engagement, and education program. In the conviction that music nourishes the mind, body and spirit of the individual and enriches the community, the pasadena symphony association serves as a curator of instrumental music of the past, present and future with an unwavering, holistic pursuit of excellence and access.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$5,972,886$6,151,431▲ $178,545
Cash and Non-Interest-Bearing Accounts$1,343,599$1,387,616▲ $44,017
Pledges and Grants Receivable$183,755$297,576▲ $113,821
Land, Buildings, and Equipment, Net$227,236$217,076▼ $10,160
Prepaid Expenses and Deferred Charges$51,493$38,358▼ $13,135
Intangible Assets$0$22,817▲ $22,817
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
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
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$7,778,969$8,114,874▲ $335,905
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$1,123,399$1,173,643▲ $50,244
Accounts Payable and Accrued Expenses$257,245$328,723▲ $71,478
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$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$1,380,644$1,502,366▲ $121,722
Net Assets / Fund Balance
Permanently Rstr Net Assets$4,642,835$4,653,694▲ $10,859
Unrestricted Net Assets$1,673,430$1,808,480▲ $135,050
Temporarily Rstr Net Assets$82,060$150,334▲ $68,274
Total Net Assets Fund Balance$6,398,325$6,612,508▲ $214,183
Total Liabilities and Net Assets / Fund Balance$7,778,969$8,114,874▲ $335,905

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$217,076$375,229$592,305
Other Securities$150,334--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$4,642,835-▲ $269,164$210,403$4,653,694
2016$4,105,578$100,350▲ $691,567$211,496$4,642,835
2015$4,105,578$0▲ $406,297$367,086$4,105,578
2014$4,005,578$100,000▲ $76,500$44,290$4,105,578
2013$4,005,478$100▲ $416,099$385,025$4,005,578
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lora UngerCEOFT$150,000$150,000

Board Members and Trustees

NameTitle
Kay E Kochenderfer-toomeyImmediate Past President
Raymond KepnerPresident
Robert MicheroVice President Finance
Reginald a WilsonVice President Personnel
Candice RosenBoard Member
Carl CooperBoard Member
Carolyn BaylonBoard Member
Chris AquinoBoard Member
Clara MaarseBoard Member
Craig ColbathBoard Member
Dr Alan FisherBoard Member
Elizabeth Grossman BeschBoard Member
Freddi HillBoard Member
Greg HolcombBoard Member
Joey FreedBoard Member
Kay WolkingBoard Member
Lynn Van Dan CooperBoard Member
Margaret H SedenquistBoard Member
Maryam Shah-hosseiniBoard Member
Prof Anneila SargentBoard Member
Sharla DurantBoard Member
Tink CheneyBoard Member
Veronica GarabedianBoard Member
Diane C RankinDirector at Large
Kimberly S WinickDirector at Large
Pam AckrichDirector at Large
William E ThomsonDirector at Large
Priscilla McclureSecretary
Barbara M SteinwedellVice Presedent Development
M Brian McmahonVP Education & Community Engag
Dr Annette L ErmsharVP Governance
Charlie MustachiaVP Investments
Revenue and Support

Revenue Composition

Contributions and Grants
$1,518,855
Program Service Revenue
$2,120,015
Investment Income
$384,085
Other Revenue
$380,067
All Other Contributions
$1,457,284
Change in Net Assets
$180,021

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,403,022
Revenue Not Reported on Form 990
$34,162
Total Revenue per Audited Statements
$4,437,184
Total Revenue per Form 990
$4,403,022
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,692,057
Salaries, Compensation, and Employee Benefits$1,530,944
Total Fundraising Expense$535,005
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$854,899$107,904$211,606$1,174,409
All Other Expenses-$5,508$230,634$236,142
Current Officers, Directors, Trustees, and Key Employees$45,000$30,000$75,000$150,000
Payroll Taxes$89,978$21,001$17,765$128,744
Office Expenses-$104,723-$104,723
Other Expenses$88,411--$88,411
Occupancy-$79,916-$79,916
Other Employee Benefits-$77,791-$77,791
Fees for Service Investment Mgmnt Fees-$47,902-$47,902
Depreciation Depletion-$29,580-$29,580
Insurance-$27,309-$27,309
Fees for Services Accounting-$18,000-$18,000
Fees for Services Legal-$1,225-$1,225
Total Functional Expenses$3,137,137$550,859$535,005$4,223,001

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,223,001
Total Expenses per Audited Statements$4,223,001
Total Expenses per Form 990$4,223,001
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$206,967
Fundraising Direct Expenses$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$376,243$203,958$122,654$81,304
Holiday Look in$205,933$129,851$58,276$71,575
Total Events$582,176$333,809$180,930$152,879
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 7A:

Governance committee recommends new additions to the board of directors.

FORM 990, PART VI, SECTION B, LINE 11:

Currently the form 990 is initiated by the cfo and the accounting firm. The form 990 is reviewed by the ceo, president and the finance committee.

FORM 990, PART VI, SECTION B, LINE 12C:

The governance committee monitors and communicates to the board on the conflict of interest policy.

FORM 990, PART VI, SECTION B, LINE 15:

The personnel committee researches, recommends and reports to the board that the proposed compensation package of the chief executive officer is within industry standard for the purposes of obtaining board approval.

FORM 990, PART VI, SECTION C, LINE 19:

The governing documents, conflict of interest policy, financial statements and form 990 are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Pasadena Symphony Association
EIN
95-6002375
In Care Of
% THE PASADENA SYMPHONY ASSOC
Phone
6267937172
Address
2 N LAKE AVE STE 1080, PASADENA, CA 91101

Signing Officer

Name
Lora Unger
Title
CEO
Signed
2019-08-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lora Unger
Formed
1932
Legal Domicile
CA
Voting Board Members
33
Independent Board Members
33
Employees
316
Volunteers
330

Preparer

Firm
Miller Kaplan Arase Llp
Address
4123 LANKERSHIM BLVD, NORTH HOLLYWOOD, CA 91602-2828
Preparer
Donald Garrett
Phone
8187692010
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1:

Briefly describe the organization's mission or most significant activities: the mission of the pasadena symphony association is to provide orchestral performances of the highest quality, and to benefit the community through its music, outreach and education. Form 990, part iii, line 4d, other program services: music under the stars, an annual free concert for the community was held to provide listeners their first contact with symphonic music and promote awareness and attendance to the psa's main stage offerings and corresponding performance venues.

FORM 990, PART XI, LINE 5, CHANGE IN NET ASSETS:

Net unrealized gain from investments: $34,162

Financial Statement Notes

PART III, LINE 1B:

MUSIC LIBRARY

PART X, LINE 2:

Psa is exempt from taxation under internal revenue code section 501(c)(3) and california revenue and taxation code section 23701d. In addition, psa qualifies for the charitable contribution deduction under section 170(b)(1)(a) of the internal revenue code and has been classified as an organization that is not a private foundation under section 509(a)(2). Generally accepted accounting principles provide accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. Management has considered its tax positions and believes that all of the positions taken by psa in its federal and state exempt organization tax returns are more likely than not to be sustained upon examination. The psa is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

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IRS990/Form990PartVIISectionAGrp/PersonNm11TINK CHENEY
IRS990/Form990PartVIISectionAGrp/PersonNm12DR ALAN FISHER
IRS990/Form990PartVIISectionAGrp/PersonNm13DR ANNETTE L ERMSHAR
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IRS990/Form990PartVIISectionAGrp/PersonNm15MARGARET H SEDENQUIST
IRS990/Form990PartVIISectionAGrp/PersonNm16ELIZABETH GROSSMAN BESCH
IRS990/Form990PartVIISectionAGrp/PersonNm17SHARLA DURANT
IRS990/Form990PartVIISectionAGrp/PersonNm18WILLIAM E THOMSON
IRS990/Form990PartVIISectionAGrp/PersonNm19CHRIS AQUINO
IRS990/Form990PartVIISectionAGrp/PersonNm20CRAIG COLBATH
IRS990/Form990PartVIISectionAGrp/PersonNm21M BRIAN MCMAHON
IRS990/Form990PartVIISectionAGrp/PersonNm22MARYAM SHAH-HOSSEINI
IRS990/Form990PartVIISectionAGrp/PersonNm23LYNN VAN DAN COOPER
IRS990/Form990PartVIISectionAGrp/PersonNm24JOEY FREED
IRS990/Form990PartVIISectionAGrp/PersonNm25GREG HOLCOMB
IRS990/Form990PartVIISectionAGrp/PersonNm26CANDICE ROSEN
IRS990/Form990PartVIISectionAGrp/PersonNm27KAY WOLKING
IRS990/Form990PartVIISectionAGrp/PersonNm28VERONICA GARABEDIAN
IRS990/Form990PartVIISectionAGrp/PersonNm29PROF ANNEILA SARGENT
IRS990/Form990PartVIISectionAGrp/PersonNm30KAY E KOCHENDERFER-TOOMEY
IRS990/Form990PartVIISectionAGrp/PersonNm31LORA UNGER
IRS990/Form990PartVIISectionAGrp/PersonNm32BARBARA M STEINWEDELL
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE PRESIDENT PERSONNEL
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13VP GOVERNANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP INVESTMENTS
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21VP EDUCATION & COMMUNITY ENGAG
IRS990/Form990PartVIISectionAGrp/TitleTxt22BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt23BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt24BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt25BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt26BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt27BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt28BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt29BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt30IMMEDIATE PAST PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt31CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt32VICE PRESEDENT DEVELOPMENT
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.1$2.34$7.76$5.11$6.81$1.70
2023Summary only. Only limited summary data is available for this year.$11.0$2.35$8.61$5.40$5.84$0.44
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.8$1.84$8.98$5.92$5.66$0.26
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.6$2.43$9.16$5.56$3.87$1.70
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.91$2.16$6.75$2.67$2.76$0.09
2019Summary only. Only limited summary data is available for this year.$8.83$2.00$6.83$4.77$4.52$0.25
2018Detailed filing. Detailed filing data is available for this year.$8.11$1.50$6.61$4.40$4.22$0.18
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.78$1.38$6.40$4.91$4.22$0.69
2016Summary only. Only limited summary data is available for this year.$6.70$1.24$5.46$3.97$3.68$0.28
2015Summary only. Only limited summary data is available for this year.$6.37$1.26$5.11$4.44$3.69$0.75
2014Summary only. Only limited summary data is available for this year.$5.68$1.00$4.69$3.74$3.55$0.19
2013Summary only. Only limited summary data is available for this year.$5.43$0.99$4.43$3.00$3.11$0.11
2012Summary only. Only limited summary data is available for this year.$5.40$1.09$4.32$3.33$3.44$0.11
2011Summary only. Only limited summary data is available for this year.$4.89$0.89$4.00$3.34$3.24$0.10