Prism Quartet Incorporated
- Assets
- $272.8k
- Revenue
- $313.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Philadelphia, PA
- Founding
- 06/2009
- Data as of
- 05/2022
- EIN
- 26-4210673
Organization Overview
Prism Quartet Incorporated is located in Philadelphia, PA. The organization was established in 2009. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prism Quartet Incorporated 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 05/2022, Prism Quartet Incorporated generated $313.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $395.7k during the year ending 05/2022. While expenses have increased by 5.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO COMMISSION AND DISSEMINATE CONTEMPORARY MUSIC THROUGH PERFORMANCE, RESIDENCY/OUTREACH, AND RECORDING PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES THE SERVICES OF THE PRISM QUARTET THROUGH THE PRESENTING AND PERFORMANCE OF CONCERTS, RESIDENCY AND COMMISSIONING PROGRAMS, AND THE PRODUCTION OF RECORDINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Levy Executive Director | OfficerTrustee | 40 | $97,222 |
Taimer Sullivan Secretary | Trustee | 8 | $22,946 |
Zachary Shermon Treasurer | Trustee | 8 | $22,946 |
Timothy Mcallister Co-Artistic Director | Trustee | 8 | $20,446 |
Others On List Attached | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $90,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $194,060 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $284,560 |
| Total Program Service Revenue | $28,282 |
| Investment income | $495 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $313,337 |
| 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. | $198,483 |
| Compensation of current officers, directors, key employees. | $78,897 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,198 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $325 |
| 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 | $0 |
| Advertising and promotion | $14,748 |
| Office expenses | $8,172 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,645 |
| Travel | $13,250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,496 |
| All other expenses | $0 |
| Total functional expenses | $395,669 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,362 |
| Savings and temporary cash investments | $240,395 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $272,757 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $258,657 |
| Net assets with donor restrictions | $14,100 |
| 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 | $272,757 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Prism Quartet Incorporated has recieved totaling $72,700.
| Awarding Organization | Amount |
|---|---|
University Of The Arts Philadelphia, PA PURPOSE: ARTS AND CULTURAL PROJECTS | $66,700 |
Musical Fund Society Of Philadelphia Philadelphia, PA PURPOSE: PRISM QUARTET INSTITUE | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jazz At Lincoln Center Inc New York, NY | $222,896,771 | $27,240,751 |
Whyhunger Inc New York, NY | $5,607,325 | $7,869,621 |
Caramoor Center For Music & The Arts Inc Katonah, NY | $49,439,168 | $6,140,543 |
Save The Music Foundation New York, NY | $5,156,662 | $8,206,045 |
American Friends Of Les Arts Florissants Inc New York, NY | $1,107,997 | $2,546,808 |
Chicken & Egg Pictures Inc Brooklyn, NY | $9,525,742 | $4,390,371 |
Young Concert Artists Inc New York, NY | $10,777,916 | $2,607,839 |
Play On Philly Philadelphia, PA | $3,128,034 | $1,933,765 |
New Music Usa Inc New York, NY | $21,074,524 | $3,287,635 |
Original Music Workshop Inc Brooklyn, NY | $4,224,196 | $2,706,667 |
Aaron Copland Fund For Music Inc New York, NY | $18,112,112 | $2,664,671 |
Liveconnections Org Philadelphia, PA | $1,829,032 | $2,774,957 |