The Carnegie Hall Corporation
- Assets
- $718.1m
- Revenue
- $55.3m
- Investments
- $214.1m
- Employees
- 663
- Location
- New York, NY
- Founding
- 02/1962
- Data as of
- 06/2021
- EIN
- 13-1923626
Organization Overview
The Carnegie Hall Corporation, operating under the name Carnegie Hall, is located in New York, NY. The organization was established in 1962. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Carnegie Hall employed 663 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carnegie Hall 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 06/2021, Carnegie Hall generated $55.3m 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 (5.2%) each year. All expenses for the organization totaled $66.5m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Carnegie Hall has awarded 215 individual grants totaling $6,659,026. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESENT MUSIC & MUSICIANS, BRING THE TRANSFORMATIVE POWER OF MUSIC. SEE SCHEDULE OTO THE WIDEST POSSIBLE AUDIENCE, PROVIDE EDUCATION PROGRAMS, AND PROVIDE NEW WORKS, ARTISTS & AUDIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CARNEGIE HALL PRODUCED EVENTS: OF THE 116 EVENTS THAT CARNEGIE HALL PRODUCED IN FY22, 48% WERE HELD IN STERN AUDITORIUM/PERELMAN STAGE, 15% IN WEILL RECITAL HALL, 27% IN ZANKEL HALL; AND 10% IN THE HALL'S RESNICK EDUCATION WING. PRESENTATIONS RANGED FROM ORCHESTRAL, CHAMBER MUSIC, SOLO RECITALS, AND CHORAL PERFORMANCES TO JAZZ, WORLD, AND POPULAR MUSIC CONCERTS ALONG WITH FAMILY EVENTS AND PUBLIC MASTERCLASSES. BEYOND THE HALL'S FOUR WALLS, CONTINUING A FIVE-DECADE TRADITION OF BRINGING FREE PERFORMANCES TO NEIGHBORHOODS ACROSS NEW YORK CITY, THE CARNEGIE HALL CITYWIDE SERIES INCLUDED 20 FREE PERFORMANCES IN FY22, PRESENTED IN PARTNERSHIP WITH ESTEEMED COMMUNITY ORGANIZATIONS.
REAL ESTATE OPERATIONS EXPENSES: 8,921,044OTHER OPERATIONS AND SPECIAL PROJECTS EXPENSES: 4,723,690REVENUE: 191,490
HALL RENTAL OPERATIONS: IN ADDITION TO CARNEGIE HALL'S OWN PRESENTATIONS, CARNEGIE HALL LEASES AND MANAGES ITS THREE CONCERT VENUES MAKING THEM AVAILABLE FOR CONCERTS AND OTHER PERFORMANCES PRESENTED BY OUTSIDE PRODUCERS. THESE EVENTS REPRESENT A SOURCE OF RENTAL INCOME FOR THE HALL AND AUGMENT ITS ARTISTIC PROFILE, UNDERSCORING CARNEGIE HALL'S HISTORIC TRADITION OF MAKING ITS STAGES BROADLY AVAILABLE. IN FY22, THERE WERE 326 RENTAL EVENTS PRESENTED AT CARNEGIE HALL.
CARNEGIE HALL'S WEILL MUSIC INSTITUTE (WMI) CREATES BROAD-REACHING MUSIC EDUCATION AND SOCIAL IMPACT PROGRAMS, PLAYING A CENTRAL ROLE IN THE HALL'S COMMITMENT TO MAKING GREAT MUSIC ACCESSIBLE TO AS MANY PEOPLE AS POSSIBLE THROUGH CREATIVE MUSICAL INTERACTION AND INSPIRING LIFELONG LEARNING. WMI'S PROGRAMS-MOST OFFERED FOR FREE OR AT LOW COST-ENGAGED MORE THAN 800,0000 PEOPLE IN FY22, INCLUDING FAMILIES, STUDENTS, COMMUNITY MEMBERS, ASPIRING ARTISTS, AND EDUCATORS IN NEW YORK CITY, ACROSS THE US, AND WORLDWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clive D Gillinson Executive & Artistic Director | OfficerTrustee | 60 | $1,493,958 |
Marco Argenti Trustee (as Of 10/7/21) | Trustee | 1 | $0 |
Mercedes T Bass Vice Chairman And Trustee | OfficerTrustee | 1 | $0 |
Olivier Berggruen Trustee | Trustee | 1 | $0 |
Len Blavatnik Trustee | Trustee | 1 | $0 |
Ronald E Blaylock Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tishman Interiors Corporation Of Ny Contractor | 6/29/22 | $10,140,787 |
Stealth Security & Assoc Llc Security | 6/29/22 | $606,455 |
Penguin Maintenance And Services Contractor | 6/29/22 | $949,613 |
Dcm Inc Marketing & Tele-fundraising | 6/29/22 | $537,176 |
The Philadelphia Orchestra Association Artist Fees | 6/29/22 | $464,445 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,797,240 |
| Investment income | $1,287,530 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,810,883 |
| Net Gain/Loss on Asset Sales | $18,488,031 |
| Net Income from Fundraising Events | -$893,360 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $36,688 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $55,324,262 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $104,669 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,974,565 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,375,312 |
| Pension plan accruals and contributions | $3,216,963 |
| Other employee benefits | $4,148,349 |
| Payroll taxes | $1,462,695 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $686,869 |
| Fees for services: Accounting | $190,000 |
| Fees for services: Lobbying | $174,530 |
| Fees for services: Fundraising | $432,484 |
| Fees for services: Investment Management | $825,162 |
| Fees for services: Other | $4,002,684 |
| Advertising and promotion | $957,189 |
| Office expenses | $851,495 |
| Information technology | $1,032,292 |
| Royalties | $0 |
| Occupancy | $58,061 |
| Travel | $48,847 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,200 |
| Interest | $2,777,826 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,055,086 |
| Insurance | $1,326,675 |
| All other expenses | $0 |
| Total functional expenses | $66,507,634 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,180,395 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $50,743,688 |
| Accounts receivable, net | $0 |
| 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 | $2,654,658 |
| Investments—publicly traded securities | $180,613,024 |
| Investments—other securities | $214,076,100 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,449,981 |
| Total assets | $718,141,781 |
| Accounts payable and accrued expenses | $7,334,391 |
| Grants payable | $0 |
| Deferred revenue | $7,621,479 |
| Tax-exempt bond liabilities | $136,988,107 |
| 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 | $33,443,778 |
| Total liabilities | $185,387,755 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $532,754,026 |
Grants Awarded
Over the last fiscal year, The Carnegie Hall Corporation has awarded $1,976,183 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
ART OF SELF ESTEEM INC PURPOSE: ARTS PROGRAMMING | $25,428 |
BUFFALO STRING WORKS PURPOSE: ARTS PROGRAMMING | $36,000 |
CHICAGO JAZZ PHILHARMONIC PURPOSE: ARTS PROGRAMMING | $22,500 |
CHEERFUL INC PURPOSE: ARTS PROGRAMMING | $35,495 |
COMMUNITY MUSIC WORKS PURPOSE: ARTS PROGRAMMING | $35,000 |
DIRECT RELIEF PURPOSE: AID FOR UKRAINE | $553,356 |