Princeton Symphony Orchestra Inc
- Assets
- $11.5m
- Revenue
- $3.0m
- Investments
- $8.8m
- Employees
- 204
- Location
- Princeton, NJ
- Founding
- 12/1980
- Data as of
- 06/2021
- EIN
- 22-2327766
Organization Overview
Princeton Symphony Orchestra Inc is located in Princeton, NJ. The organization was established in 1980. 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, Princeton Symphony Orchestra Inc employed 204 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Princeton Symphony Orchestra 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, Princeton Symphony Orchestra Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $1.6m during the year ending 06/2021. While expenses have increased by 3.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
CREATE OPPORTUNITIES FOR PEOPLE IN THE GREATER PRINCETON AREA TO EXPERIENCE EXCELLENT, INNOVATIVE LIVE MUSIC IN MANY FORMS AND VENUES, ENCOURAGING THEM TO ENGAGE IN THE ART FORM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PERFORMING CLASSICAL MASTERWORKS - A RETURN TO LIVE CONCERTS WAS POSSIBLE - INITIALLY AT MCCARTER THEATRE CENTRE FOR 2 CLASSICAL MASTERWORKS AND 1 HOLIDAY POPS PROGRAMS, AND THEN 4 PAIRS OF CLASSICAL ORCHESTRAL CONCERTS IN RICHARDSON AUDITORIUM IN THE SPRING OF 2022. A TOTAL AUDIENCE OF 6,000 WAS REACHED. 2 CHAMBER MUSIC CONCERTS WERE PRESENTED TO A TOTAL OF 240 PEOPLE. 4 PERFORMANCES OF A MIDSUMMER NIGHT'S DREAM WERE PRESENTED IN NEW BRUNSWICK WITH AMERICAN REPERTORY BALLET TO A TOTAL AUDIENCE OF 1,400. (SEE SCHEDULE O)
THE PRINCETON FESTIVAL - FOLLOWING THE JULY 2021 MERGER OF THE PRINCETON FESTIVAL A NJ NON-PROFIT, THE PSO PRESENTED A 16-DAY MULTI-GENRE PERFORMING ARTS FESTIVAL UNDER THIS NAME FOR THE FIRST TIME IN JUNE 2022. IN TOTAL, 13 PERFORMANCES IN A PURPOSE BUILT, 10,000SQF TEMPORARY PERFORMANCE TENT ON THE GROUNDS OF MORVEN MUSEUM & GARDEN AND 2 PERFORMANCES IN TRINITY CHURCH ACROSS THE ROAD AS WELL AS ACCOMPANYING EDUCATIONAL LECTURES AND ANCILLARY EVENTS. PERFORMANCES INCLUDED 2 FULLY STAGED OPERA PRODUCTIONS, ORCHESTRAL POPS, BAROQUE, CHAMBER, JAZZ, AND CABARET. A TOTAL LIVE AUDIENCE OF 5,700 WAS SERVED. (SEE SCHEDULE O)
EDUCATION - IN FY22, PROGRAMS WERE MOSTLY ONLINE WITH SOME IN-PERSON. ACTIVITIES INCLUDED 20 CLASSROOM VISITS OVER ZOOM,14 IN-PERSON VISITS, AN ONLINE "SCHOOLDAY" CONCERT, AND INSTRUMENT DEMONSTRATION VIDEOS. PSO'S PARTNERSHIP WITH YOCJ CONTINUED, WITH IN-PERSON REHEARSALS WITH PSO'S ASSISTANT CONDUCTOR. PSO MUSICIANS RAN MASTERCLASSES. ACTIVITIES WITH THE PRINCETON FESTIVAL INCLUDED 2 POETRY WORKSHOPS, AN INSTRUMENT PETTING ZOO, A FAMILY POPS CONCERT INCLUDING A SIDE-BY-SIDE PERFORMANCE WITH YOCJ STUDENTS, AND A VIRTUAL PIANO COMPETITION. TOTAL LIVE AUDIENCE: 3,000. (SEE SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Uys Executive Director | Officer | 40 | $186,405 |
Rossen Milanov Music Director | 15 | $114,000 | |
Stephanie Wedeking Chair/trustee | OfficerTrustee | 10 | $0 |
Anne Vanlent Vice Chair/trustee | OfficerTrustee | 4 | $0 |
Michael Mathews Treasurer/trustee | OfficerTrustee | 4 | $0 |
Nora Duffy Decker Secretary/trustee | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,686,583 |
| Investment income | $59,154 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $85,738 |
| Net Income from Fundraising Events | -$10,218 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,029,525 |
| 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. | $184,463 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $894,123 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $34,013 |
| Payroll taxes | $76,346 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $87,351 |
| Fees for services: Accounting | $28,046 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $34,168 |
| Fees for services: Other | $15,344 |
| Advertising and promotion | $30,005 |
| Office expenses | $21,651 |
| Information technology | $34,308 |
| Royalties | $0 |
| Occupancy | $63,558 |
| Travel | $4,596 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,588 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,383 |
| Insurance | $16,663 |
| All other expenses | $0 |
| Total functional expenses | $1,635,937 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $499,934 |
| Savings and temporary cash investments | $307,376 |
| Pledges and grants receivable | $1,789,506 |
| Accounts receivable, net | $2,500 |
| 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 | $5,858 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,831,345 |
| Investments—program-related | $0 |
| Intangible assets | $23,209 |
| Other assets | $0 |
| Total assets | $11,470,025 |
| Accounts payable and accrued expenses | $161,510 |
| Grants payable | $0 |
| Deferred revenue | $5,900 |
| 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 | $0 |
| Total liabilities | $167,410 |
| 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 | $11,302,615 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Princeton Symphony Orchestra Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
John P Schmidt And Dorothy E Schmidt Family Foundation Inc Skillman, NJ PURPOSE: ANNUAL FUND | $15,000 |
Len & Laura Berlik Foundation Inc Princeton, NJ PURPOSE: AN UNRESTRICTED GRANT TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE. | $5,000 |
Endowment Analysis
| Beg. Balance | $8,885,762 |
| Earnings | -$1,051,322 |
| Admin Expense | $44,686 |
| Net Contributions | $844,178 |
| Other Expense | $451,000 |
| Ending Balance | $8,182,932 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
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 |
Harrisburg Symphony Association Harrisburg, PA | $13,261,535 | $3,046,479 |
Allentown Symphony Association Inc Allentown, PA | $15,521,853 | $2,408,487 |
Albany Symphony Orchestra Inc Albany, NY | $12,413,747 | $2,273,007 |
Philadelphia Youth Orchestra Philadelphia, PA | $1,696,190 | $1,961,434 |
Princeton Symphony Orchestra Inc Princeton, NJ | $11,470,025 | $3,029,525 |
Reading Symphony Orchestra Assn Reading, PA | $2,131,744 | $1,809,021 |
Empire State Youth Orchestra Scotia, NY | $2,045,485 | $1,515,051 |