Binghamton Philharmonic Inc
- Assets
- $392.9k
- Revenue
- $478.3k
- Investments
- $0.0
- Employees
- 70
- Location
- Binghamton, NY
- Founding
- 11/1976
- Data as of
- 06/2021
- EIN
- 16-1066518
Organization Overview
Binghamton Philharmonic Inc is located in Binghamton, NY. The organization was established in 1976. 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 06/2021, Binghamton Philharmonic Inc employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Binghamton Philharmonic 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 06/2021, Binghamton Philharmonic Inc generated $478.3k 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 (4.9%) each year. All expenses for the organization totaled $390.6k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (8.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE BINGHAMTON PHILHARMONIC IS A PROFESSIONAL SYMPHONY ORCHESTRA DEDICATED TO PROVIDING OUR REGION WITH PERFORMANCES OF LIVE CLASSICAL MUSIC BY ARTISTS OF INCOMPARABLE TALENT; WE MAKE GREAT MUSIC ACCESSIBLE TO ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PHILHARMONIC PERFORMS CLASSICAL & POPS ORCHESTRIAL CONCERTS FOR THE GENERAL PUBLIC. ALL PROGRAM SERVICE REVENUE AND EXPENSE ARE CONNECTED WITH THIS ACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Cienniwa Executive Dir. | Officer | 40 | $49,269 |
Greg Carpenter Treasurer | Officer | 5 | $0 |
Mary O'malley Trumble Vice President | Officer | 5 | $0 |
Daniel Norton President | Officer | 5 | $0 |
Frank Lettera Director | Trustee | 1 | $0 |
Diane Butler Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $387,615 |
| Investment income | $991 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $13,544 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $478,270 |
| Statement of Expenses | |
|---|---|
| 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. | $49,269 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $198,864 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,626 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,230 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,064 |
| Advertising and promotion | $33,829 |
| Office expenses | $7,053 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,860 |
| Travel | $1,846 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $62 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,534 |
| Insurance | $27,003 |
| All other expenses | $0 |
| Total functional expenses | $390,558 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $164,059 |
| Savings and temporary cash investments | $187,462 |
| Pledges and grants receivable | $25,000 |
| Accounts receivable, net | $3,250 |
| 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 | $4,581 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $392,917 |
| Accounts payable and accrued expenses | $8,811 |
| Grants payable | $0 |
| Deferred revenue | $32,575 |
| 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 | $81,600 |
| Other liabilities | $0 |
| Total liabilities | $122,986 |
| 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 | $269,931 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Binghamton Philharmonic Inc has recieved totaling $162,370.
| Awarding Organization | Amount |
|---|---|
Broome County Arts Council Inc Endicott, NY PURPOSE: OPERATING SUPPORT | $60,000 |
Conrad And Virginia Klee Fdn Inc Binghamton, NY PURPOSE: UNRESTRICTED OPERATING | $50,000 |
Decker Foundation Binghamton, NY PURPOSE: CREATION OF BEETHOVEN LIVES UPSTAIRS MUSIC PROGRAM | $33,300 |
Frank & Lydia Bergman Foundation Las Vegas, NV PURPOSE: GENERAL OPERATING | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $6,200 |
Tsb Foundation Inc Spencer, NY PURPOSE: HARRY POTTER MUSICAL SPONSOR | $1,250 |
Endowment Analysis
| Beg. Balance | $165,000 |
| Earnings | $2,688 |
| Other Expense | $167,688 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Boston Symphony Orchestra Inc Boston, MA | $745,262,219 | $89,872,398 |
Philharmonic-Symphony Society Of New York Inc New York, NY | $534,569,080 | $138,634,882 |
Philadelphia Orchestra Association Philadelphia, PA | $211,538,479 | $41,118,272 |
Pittsburgh Symphony Inc Pittsburgh, PA | $194,466,393 | $30,739,984 |
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 |
Rochester Philharmonic Orchestra Inc Rochester, NY | $20,757,567 | $7,702,051 |
Cape Arts & Entertainment Inc West Barnstable, MA | $10,466,895 | $5,101,262 |
Orpheus Chamber Orchestra Inc New York, NY | $1,908,737 | $3,345,104 |
Boston Youth Symphony Orchestra Inc Boston, MA | $8,731,148 | $5,999,512 |
Hartford Symphony Orchestra Inc Hartford, CT | $12,831,218 | $4,378,736 |
Musical Associates Of Central New York Inc Syracuse, NY | $3,413,784 | $4,180,183 |