Pittsburgh Symphony Inc
- Assets
- $194.5m
- Revenue
- $30.7m
- Investments
- $67.6m
- Employees
- 440
- Location
- Pittsburgh, PA
- Founding
- 09/1938
- Data as of
- 08/2021
- EIN
- 25-0986052
Organization Overview
Pittsburgh Symphony Inc, operating under the name Pittsburgh Symphony Orchestra, is located in Pittsburgh, PA. The organization was established in 1938. According to its NTEE Classification (A69) the organization is classified as: Symphony Orchestras, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2021, Pittsburgh Symphony Orchestra employed 440 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pittsburgh Symphony Orchestra is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2021, Pittsburgh Symphony Orchestra generated $30.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $23.6m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (7.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTES A LOVE OF MUSIC BY MAINTAINING A SYMPHONY ORCHESTRA. OUR VISION IS GREAT MUSIC IN EVERY LIFE.
Describe the Organization's Program Activity:
THE PITTSBURGH SYMPHONY ORCHESTRA, WHICH CELEBRATES 126 YEARS OF MUSIC IN 2021, POSSESSES A RICH HISTORY OF THE WORLD'S FINEST CONDUCTORS AND MUSICIANS AND AN UNWAVERING COMMITMENT TO THE PITTSBURGH REGION AND ITS CITIZENS. SINCE 2008, THE ORCHESTRA HAS BEEN LED BY MUSIC DIRECTOR MANFRED HONECK, ONE OF THE WORLD'S LEADING CONDUCTORS, ADMIRED FOR HIS REVELATORY INTERPRETATIONS. PAST MUSIC DIRECTORS HAVE INCLUDED LEGENDARY CONDUCTORS SUCH AS ANDRE PREVIN, LORIN MAAZEL AND WILLIAM STEINBERG. THE PITTSBURGH SYMPHONY HAS A LONG, ILLUSTRIOUS HISTORY OF BROADCASTS AND RECORDINGS, WHICH INCLUDES TWO GRAMMY AWARDS IN 2018. WITH A LONG AND DISTINGUISHED HISTORY OF DOMESTIC AND FOREIGN TOURS DATING BACK TO 1900, PSI CONTINUES TO BE CRITICALLY ACCLAIMED AS ONE OF THE WORLD'S GREATEST ORCHESTRAS. FROM ITS HOME AT HEINZ HALL, THE ORCHESTRA TYPICALLY PERFORMS 20 WEEKENDS OF BNY MELLON GRAND CLASSICS, SEVEN WEEKENDS OF PNC POPS, THREE FIDDLESTICKS FAMILY CONCERTS, SPECIALS WITH ORCHESTRA AND GUEST ARTISTS, AND COUNTLESS EDUCATIONAL, CHILDREN'S, AND COMMUNITY OUTREACH PROGRAMS THAT IMPACT MORE THAN 300,000 PEOPLE EACH YEAR. SINCE THE GLOBAL PANDEMIC BEGAN, THE PSI HAS CONTINUED TO REACH AUDIENCES WORLDWIDE WITH SCORES OF DIVERSE DIGITAL OFFERINGS INCLUDING CONCERTS AND EDUCATIONAL RESOURCES. FALL 2021 MARKED THE RETURN TO IN-PERSON INDOOR CONCERTS AT HEINZ HALL, WHILE THE PSO CONTINUES TO OFFER DIGITAL CONTENT FOR THOSE NOT ABLE TO VISIT HEINZ HALL. THE COVID-19 PANDEMIC CONTINUES TO IMPACT THE FINANCES AND OPERATIONS OF THE PSO AND WILL CONTINUE TO DO SO IN THE FUTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melia Tourangeau President & CEO | OfficerTrustee | 40 | $436,395 |
William Caballero Principal French Horn | 40 | $238,645 | |
Cynthia Dealmeida Principal Oboe | 40 | $218,524 | |
Christian Schornich Vice President & COO (exited 03/21) | Officer | 40 | $194,668 |
Scott Michael Vice President & CFO | Officer | 40 | $160,205 |
Lorna Mcghee Principal Flute | 40 | $158,591 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flying Scooter Productions Llc Video Production | 8/30/21 | $262,896 |
Artsmarketing Services Inc Telefundraising/telemarketing | 8/30/21 | $176,084 |
Schneider Downs & Co Inc Accounting And Tax Services | 8/30/21 | $126,536 |
Wj Strickler Signs Inc Digital Signs | 8/30/21 | $132,202 |
Manfred Honeck Music Director | 8/30/21 | $230,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $416,697 |
| Related organizations | $1,310,698 |
| Government grants | $15,166,521 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,036,862 |
| Noncash contributions included in lines 1a–1f | $305,250 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,930,778 |
| Total Program Service Revenue | $191,978 |
| Investment income | $1,039,153 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $89,096 |
| Net Gain/Loss on Asset Sales | $3,354,211 |
| Net Income from Fundraising Events | $66,100 |
| Net Income from Gaming Activities | $54,098 |
| Net Income from Sales of Inventory | $14,570 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,739,984 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,028,377 |
| Compensation of current officers, directors, key employees. | $546,962 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,312,350 |
| Pension plan accruals and contributions | $940,805 |
| Other employee benefits | $2,495,205 |
| Payroll taxes | $944,066 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,148 |
| Fees for services: Accounting | $247,552 |
| Fees for services: Lobbying | $107,209 |
| Fees for services: Fundraising | $67,180 |
| Fees for services: Investment Management | $473,066 |
| Fees for services: Other | $452,711 |
| Advertising and promotion | $226,940 |
| Office expenses | $306,842 |
| Information technology | $148,660 |
| Royalties | $0 |
| Occupancy | $373,935 |
| Travel | $4,093 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,300 |
| Interest | $93,711 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,064,547 |
| Insurance | $175,313 |
| All other expenses | $98,762 |
| Total functional expenses | $23,600,910 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,583,122 |
| Savings and temporary cash investments | $3,642,717 |
| Pledges and grants receivable | $13,800,865 |
| Accounts receivable, net | $3,615,372 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $82,463 |
| Inventories for sale or use | $33,118 |
| Prepaid expenses and deferred charges | $418,524 |
| Net Land, buildings, and equipment | $15,020,637 |
| Investments—publicly traded securities | $83,840,598 |
| Investments—other securities | $67,598,071 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,830,906 |
| Total assets | $194,466,393 |
| Accounts payable and accrued expenses | $1,809,244 |
| Grants payable | $0 |
| Deferred revenue | $6,363,798 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,826,731 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,916,465 |
| Total liabilities | $29,916,238 |
| Net assets without donor restrictions | -$9,140,000 |
| Net assets with donor restrictions | $173,690,155 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $194,466,393 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Pittsburgh Symphony Inc has recieved totaling $7,000.
| Awarding Organization | Amount |
|---|---|
Janes & Marilyn A Gilmore Foundation Ua Pittsburgh, PA PURPOSE: GENERAL | $6,000 |
Wagner Family Charible Tr Ua 11172000 Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $133,096,319 |
| Earnings | $37,109,000 |
| Admin Expense | $446,000 |
| Net Contributions | $1,116,000 |
| Other Expense | $8,767,000 |
| Ending Balance | $162,108,319 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cincinnati Symphony Orchestra Cincinnati, OH | $298,354,425 | $55,153,223 |
Philadelphia Orchestra Association Philadelphia, PA | $211,538,479 | $41,118,272 |
Pittsburgh Symphony Inc Pittsburgh, PA | $194,466,393 | $30,739,984 |
Baltimore Symphony Orchestra Inc Baltimore, MD | $16,033,795 | $20,177,740 |
New Jersey Symphony Orchestra Newark, NJ | $12,634,412 | $12,910,552 |
Buffalo Philharmonic Orchestra Society Inc Buffalo, NY | $15,185,404 | $13,394,584 |
Columbus Symphony Orchestra Inc Columbus, OH | $23,849,025 | $7,378,126 |
Rochester Philharmonic Orchestra Inc Rochester, NY | $20,757,567 | $7,702,051 |
Dayton Performing Arts Alliance Dayton, OH | $10,536,333 | $6,130,805 |
National Philharmonic Orchestra & Chorale Of Mongomery County Inc North Bethesda, MD | $1,849,727 | $2,888,620 |
Orpheus Chamber Orchestra Inc New York, NY | $1,908,737 | $3,345,104 |
Musical Associates Of Central New York Inc Syracuse, NY | $3,413,784 | $4,180,183 |