New Mexico Philharmonic Inc
- Assets
- $814.7k
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 248
- Location
- Albuquerque, NM
- Founding
- 07/2010
- Data as of
- 08/2023
- EIN
- 27-1148446
Organization Overview
New Mexico Philharmonic Inc is located in Albuquerque, NM. The organization was established in 2010. 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, New Mexico Philharmonic Inc employed 248 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mexico 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 08/2023, New Mexico Philharmonic Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $2.6m during the year ending 08/2023. While expenses have increased by 2.3% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
AS THE MAJOR PROFESSIONAL ORCHESTRA IN THE STATE, THE NEW MEXICO PHILHARMONIC IS COMMITTED TO INSPIRING AUDIENCES OF ALL AGES AND BACKGROUNDS THROUGH ITS ARTISTIC EXCELLENCE, INNOVATIVE PROGRAMMING AND EDUCATION, AND COMMUNITY ENGAGEMENT.
Describe the Organization's Program Activity:
SEASON V 2022-23 HIGHLIGHTS:ORGANIZATIONAL:THIRTEEN CONCERTS PERFORMED AT POPEJOY HALL, AN 1800 SEAT AUDITORIUM. TEN CLASSICS PROGRAMS, INCLUDING A THREE CONCERT TCHAIKOVSKY FESTIVAL, THE OLGA KERN INTERNATIONAL PIANO COMPETITION AND THREE POPS CONCERTS. OUTDOOR CONCERTS CONTINUED TO BE PERFORMED AT TWO NEW LOCATIONS, THE SKY ROOM IN RIO RANCHO AND BOTANIC GARDEN IN ALBUQUERQUE. BOTH CONCERTS WERE EITHER FREE ADMISSION OR LOW-COST ADMISSION AND ATTRACTED A TOTAL OF 12,000 AUDIENCE MEMBERS OF ALL AGES. THE EDUCATION INITIATIVES WERE CONTINUED . THE YOUNG MUSICIAN INITIATIVE MONDAY-THURSDAY PROGRAM TAKING PLACE EVERY DAY. THE MAIN CLASSICS SERIES AS WELL AS ROCK & POPS SERIES TOOK PLACE IN THE LARGE VENUE POPEJOY HALL. THE ORCHESTRA PERFORMED SMALLER SIZED ORCHESTRA CONCERTS AT IMMANUEL PRESBYTERIAN CHURCH INCLUDING A WINTER POPS SERIES, AFTERNOON CLASSICS, COFFEE CONCERTS AND A NEW SERIES OF LOW COST CONCERTS PROGRAMED FOR FAMILIES CALLED THE POWER CONCERTS. 25 FREE TICKETS FOR EACH CONCERT WERE OFFERED TO VETERANS THROUGH THE VETTIX PROGRAM. EDUCATION-YOUNG MUSICIAN INITIATIVE BASED ON EL SISTEMA, AN IN-DEPTH MUSIC LEARNING INITIATIVE. PROGRAM WHICH TOOK PLACE AT DOLORES GONZALES ELEMENTARY SCHOOL. OVER 50 CHILDREN FROM TITLE ONE SCHOOLS PARTICIPATE IN THE PROGRAM. -YOUTH CONCERTS CONTINUE - 8 CONCERTS OFFERED TO ALL FOURTH AND FIFTH GRADE STUDENTS IN THE ALBUQUERQUE PUBLIC SCHOOL SYSTEM.-ELEMENTARY SCHOOL ENSEMBLE VISITS FOR SECOND GRADE STUDENTS - CONTINUE WITH 10 PERFORMANCES.-$30 ALL CONCERT ACCESS SOUND CARDS OFFERED TO STUDENTS THROUGH COLLEGE AGE, 244 SOLD.-$10 STUDENT RUSH TICKETS OFFERED FOR EVERY CONCERT.-STUDENTS FROM RURAL COMMUNITIES WERE OFFERED FREE TICKETS UPON REQUEST.FUNDRAISING-CONCERT SPONSORSHIPS OVER $90,000.-$60,000 GRANT FROM MEREDITH FOUNDATION.-$95,737 GRANT FROM ALBUQUERQUE COMMUNITY FOUNDATION.-ANNUAL FUND DRIVE IN EXCESS OF $200,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maureen Baca President | OfficerTrustee | 15 | $0 |
David W Peterson Secretary | OfficerTrustee | 1 | $0 |
Kory Hoggan CPA Treasurer | OfficerTrustee | 5 | $0 |
Al Stotts Vice President | OfficerTrustee | 2 | $0 |
Joel Baca Director | Trustee | 1 | $0 |
Ruth Bitsui Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $22,239 |
| Membership dues | $0 |
| Fundraising events | $101,407 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,060,846 |
| Noncash contributions included in lines 1a–1f | $62,522 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,184,492 |
| Total Program Service Revenue | $991,044 |
| Investment income | $4,501 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $154,648 |
| Net Income from Fundraising Events | $35,371 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $28,017 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,416,803 |
| 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. | $120,290 |
| Compensation of current officers, directors, key employees. | $24,058 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,279,144 |
| Pension plan accruals and contributions | $3,252 |
| Other employee benefits | $0 |
| Payroll taxes | $124,773 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $70,795 |
| Fees for services: Accounting | $30,482 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $39,019 |
| Advertising and promotion | $271,070 |
| Office expenses | $111,046 |
| Information technology | $22,276 |
| Royalties | $0 |
| Occupancy | $41,631 |
| Travel | $9,488 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,192 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,785 |
| Insurance | $52,493 |
| All other expenses | $432,151 |
| Total functional expenses | $2,639,887 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $191,765 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $303,782 |
| 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 | $18,440 |
| Net Land, buildings, and equipment | $145,476 |
| Investments—publicly traded securities | $103,120 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,102 |
| Total assets | $814,685 |
| Accounts payable and accrued expenses | $34,821 |
| Grants payable | $0 |
| Deferred revenue | $303,782 |
| 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 | $224,383 |
| Other liabilities | $49,668 |
| Total liabilities | $612,654 |
| Net assets without donor restrictions | $57,919 |
| Net assets with donor restrictions | $144,112 |
| 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 | $814,685 |