Lexington Philharmonic Society Inc
- Assets
- $133.2k
- Revenue
- $832.7k
- Investments
- $0.0
- Employees
- 92
- Location
- Lexington, KY
- Founding
- 05/1963
- Data as of
- 06/2022
- EIN
- 61-6033529
Organization Overview
Lexington Philharmonic Society Inc is located in Lexington, KY. The organization was established in 1963. 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 06/2022, Lexington Philharmonic Society Inc employed 92 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lexington Philharmonic Society Inc 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 06/2022, Lexington Philharmonic Society Inc generated $832.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $857.9k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.5%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ORCHESTRA PERFORMANCES
Describe the Organization's Program Activity:
THE LEXINGTON PHILHARMONIC NORMALLY PRESENTS OVER 200 CONCERTS AND EDUCATIONAL PROGRAMS ANNUALLY THAT ARE DESIGNED TO ENGAGE THE DIVERSE POPULATIONS OF CENTRAL AND EASTERN KENTUCKY. THE SEASON SERIES FEATURES TRADITIONAL CLASSICAL MUSIC, NEW AND WORLD PREMIERE PIECES, AND WORLD-RENOWNED GUEST ARTISTS. MANY LIFE-LONG LEARNING PROGRAMS ARE OFFERED FREE OF CHARGE WITH COMMUNITY PARTNERS SUCH AS THE FAYETTE COUNTY PUBLIC SCHOOLS AS WELL AS FREE PRE-CONCERT LECTURES DESIGNED TO INTRODUCE PATRONS TO THE GUEST ARTISTS AND PROGRAMMING. THE SOUND EXPLORERS' SERIES IS A FUN WAY TO INTRODUCE CHILDREN AND GROWN-UPS TO CLASSICAL MUSIC. LEXPHIL ALSO OFFERS EXTENSIVE EDUCATIONAL PROGRAMS, REACHING OVER 10,000 STUDENTS A YEAR THROUGH ITS "MUSIC BUILDS" EDUCATION PLATFORM.DURING THE COVID-19 PANDEMIC, LEXPHIL REPLACED LARGE SCALE CONCERTS WITH SAFE SMALL ENSEMBLE, OUTDOOR CONCERTS, VIRTUAL PROGRAMMING OFFERED THROUGH ITS WEBSITE, AND REBROADCAST OF ARCHIVAL RECORDINGS OF FULL ORCHESTRA CONCERTS THROUGH WEKU FM, RADIO PARTNER. ALL OF THESE PROGRAMS HAVE BEEN FREE OF CHARGE.LEXPHIL RETURNED TO LARGE SCALE CONCERTS IN THE SPRING OF 2022 AND IS IN PROCESS WITH REDESIGNING ITS EDUCATIONAL AND COMMUNITY ENGAGEMENT PROGRAMMING TO ENSURE IT IS SERVING THE CHANGING NEEDS OF ITS COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allison Kaiser Executive Director | Officer | 40 | $65,625 |
Colmon Elridge III Immediate Past President | OfficerTrustee | 1 | $0 |
Carol Mcleod DVM President | OfficerTrustee | 4 | $0 |
Lou H Jones Secretary | OfficerTrustee | 1 | $0 |
Stephen Mallory Treasurer | OfficerTrustee | 2 | $0 |
John Wharton Foundation Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $120,000 |
| Government grants | $213,873 |
| All other contributions, gifts, grants, and similar amounts not included above | $339,303 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $673,176 |
| Total Program Service Revenue | $160,584 |
| Investment income | $105 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,152 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $832,713 |
| 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. | $75,000 |
| Compensation of current officers, directors, key employees. | $30,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $379,026 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $59,182 |
| Payroll taxes | $32,792 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $62,328 |
| Advertising and promotion | $22,168 |
| Office expenses | $5,621 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $35,591 |
| Travel | $51 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,160 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $276 |
| Insurance | $10,853 |
| All other expenses | $6,786 |
| Total functional expenses | $857,897 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,140 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,123 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,702 |
| Net Land, buildings, and equipment | $251 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $133,216 |
| Accounts payable and accrued expenses | $8,948 |
| Grants payable | $0 |
| Deferred revenue | $43,292 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $54,000 |
| Total liabilities | $106,240 |
| Net assets without donor restrictions | $26,976 |
| Net assets with donor restrictions | $0 |
| 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 | $133,216 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Lexington Philharmonic Society Inc has recieved totaling $43,265.
| Awarding Organization | Amount |
|---|---|
Blue Grass Community Foundation Inc Lexington, KY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $34,232 |
Elhapa Foundation Inc Lexington, KY PURPOSE: TO SUPPORT GENERAL OPERATIONS | $5,000 |
Hilary Boone Foundation Inc Lexington, KY PURPOSE: SUBSIDY | $2,000 |
Jedra Charitable Foundation Inc Lexington, KY PURPOSE: GENERAL SUPPORT | $2,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $33 |
Endowment Analysis
| Beg. Balance | $2,164,514 |
| Ending Balance | $2,164,514 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Musical Arts Association Cleveland, OH | $284,635,926 | $54,210,898 |
Chicago Symphony Orchestra Chicago, IL | $576,700,123 | $109,905,535 |
Cincinnati Symphony Orchestra Cincinnati, OH | $298,354,425 | $55,153,223 |
Saint Louis Symphony Orchestra St Louis, MO | $77,659,859 | $61,304,520 |
Kansas City Symphony Kansas City, MO | $64,822,369 | $17,397,853 |
Saint Louis Symphony Endowment Trust Saint Louis, MO | $280,111,729 | $18,922,089 |
Nashville Symphony Association Nashville, TN | $100,031,908 | $12,366,678 |
Indiana Symphony Society Inc Indianapolis, IN | $13,063,766 | $26,550,940 |
The Louisville Orchestra Inc Louisville, KY | $7,756,568 | $11,516,592 |
Virginia Symphony Orchestra Norfolk, VA | $5,267,903 | $8,191,490 |
Richmond Symphony Richmond, VA | $2,392,826 | $8,372,945 |
Columbus Symphony Orchestra Inc Columbus, OH | $23,849,025 | $7,378,126 |