Pittsburgh Symphony Inc
- Assets
- $194.5m
- Revenue
- $30.7m
- Investments
- $67.6m
- Employees
- 595
- 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 08/2023, Pittsburgh Symphony Orchestra employed 595 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 7 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 (6.6%) 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
PROMOTES A LOVE OF MUSIC BY MAINTAINING A SYMPHONY ORCHESTRA. OUR VISION IS GREAT MUSIC IN EVERY LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PITTSBURGH SYMPHONY ORCHESTRA, WHICH CELEBRATED 125 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. SEE CONTINUATION ON SCHEDULE O.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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melia Tourangeau President & CEO | OfficerTrustee | 40 | $486,391 |
William Caballero Principal French Horn | 40 | $299,325 | |
Michael Rusinek Principal Clarinet | 40 | $272,833 | |
Cynthia Dealmeida Principal Oboe | 40 | $267,653 | |
Nancy Goeres Principal Bassoonist | 40 | $261,690 | |
Martin Bates Exec VP & COO | Officer | 40 | $232,910 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Manfred Honeck Music Director | 8/30/23 | $1,047,250 |
Mascaro Construction Co Lp Construction | 8/30/23 | $760,894 |
Anna Sophie Mutter-wunderlich Guest Artist | 8/30/23 | $283,539 |
Steerpike Productions Llc Guest Artist | 8/30/23 | $300,000 |
Maclachlan Cornelius & Filoni Architecture | 8/30/23 | $451,487 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,930,778 |
| 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 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 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 | $0 |
| 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 |
| 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 |
| Total liabilities and net assets/fund balances | $164,550,155 |