2016-04-25T14:23:14-05:00 2015-06-30 050409384 KAHN LITWIN RENZA & CO LTD 951 NORTH MAIN STREET PROVIDENCE RI 02904 990 2014-07-01 050267451 RHODE ISLAND PHILHARMONIC ORCHESTRA & MUSIC SCHOOL RHOD 4012487070 667 WATERMAN AVENUE EAST PROVIDENCE RI 02914 DAVID BEAUCHESNE EXECUTIVE DIRECTOR 4012487070 2016-04-25 1 DEBORAH A HOPKINS P00167843 4012742001 2014 2016-08-17 19:52:53Z DAVID BEAUCHESNE 667 WATERMAN AVENUE EAST PROVIDENCE RI 02914 5521503 0 X WWW.RI-PHILHARMONIC.ORG X 1944 RI TO ENRICH AND TRANSFORM RHODE ISLAND AND OUR REGION THROUGH GREAT MUSIC PERFORMANCE AND EDUCATION. 31 31 333 85 0 0 3342607 2415954 2505697 2720713 261647 270352 -23545 -139681 6086406 5267338 0 0 0 0 3078366 3103195 0 0 251995 2117738 2206564 5196104 5309759 890302 -42421 15800851 15584939 7042028 6887375 8758823 8697564 X THE ONLY PROFESSIONAL ORCHESTRA, THE ONLY CERTIFIED COMMUNITY MUSIC SCHOOL AND THE SECOND LARGEST NOT FOR PROFIT ARTS ORGANIZATION IN RHODE ISLAND, THE PHILHARMONIC SEEKS TO ENRICH AND TRANSFORM RHODE ISLAND AND OUR REGION THROUGH GREAT MUSIC PERFORMANCE AND EDUCATION. 0 0 2100595 1271690 THE RHODE ISLAND PHILHARMONIC ORCHESTRA IS THE LARGEST EMPLOYER OF MUSICIANS IN THE STATE, WITH OVER 325 MUSIC PERFORMING AND TEACHING ARTISTS ON PAYROLL. THE ORCHESTRA CONTRIBUTES OVER $11 MILLION IN ECONOMIC ACTIVITY AND GENERATES MORE THAN $500,000 IN TAX REVENUE FOR RHODE ISLAND. ONE HIGHLIGHT OF THE CONCERT SEASON WAS A SUCCESSFUL GALA CONCERT AND A MASTER CLASS FOR OUR STUDENTS, WITH JOSHUA BELL. IN ADDITION, OUR INCREASED MARKETING PRODUCED 12% INCREASE IN SINGLE TICKET SALES AND A 24% INCREASE IN SUBSCRIPTIONS. WHILE EXPENSES INCREASED TO ACCOMODATE THE NECESSARY EXPENDITURES TO RECEIVE THESE RESULTS, IT WAS FAR LESS THAN THE GROWTH IN EARNED AND CONTRIBUTED INCOME. THE ORCHESTRA CONTINUED TO ACHIEVE GOALS ESTABLISHED IN OUR STRATEGIC PLAN FOR FISCAL YEAR 2015 BY (CONTINUED ON SCHEDULE O)REDUCING OUR BUILDING AND OPERATING DEBT, INCREASING UTILIZATION AND IMPACT OF EXISTING ORCHESTRA & MUSIC SCHOOL PROGRAMS, AND INCREASING OUR ENDOWMENT AND INVESTMENTS. IN ADDITION, WE WERE AWARDED A CONDITIONAL PROMISE TO GIVE IN THE FORM OF THE PROCEEDS FROM THE RHODE ISLAND CREATIVE & CULTURAL ECONOMY BOND, WHICH WAS APPROVED BY THE VOTERS OF THE STATE OF RHODE ISLAND IN NOVEMBER 2014. THE FUNDS, IN THE AMOUNT OF $2,390,250, ARE TO BE USED TO RETIRE A PORTION OF OUR BOND PAYABLE. THEY SHOULD BE RECEIVED BY THE END OF FISCAL YEAR 2016. 1682250 1449023 THE RI PHILHARMONIC MUSIC SCHOOL IS THE ONLY CERTIFIED COMMUNITY MUSIC SCHOOL IN RHODE ISLAND AND ENCOURAGES LIFELONG ENGAGEMENT WITH MUSIC THROUGH COMPREHENSIVE MUSIC EDUCATION AND COMMUNITY PARTNERSHIP PROGRAMS TAUGHT BY ORCHESTRA MEMBERS AND OTHER OUTSTANDING FACULTY. WE PRIORITIZE ARTISTRY AND EDUCATION EQUALLY. IN FISCAL YEAR 2015, OVER 22,000 CHILDREN IN OUR REGION WERE BROUGHT THE GIFT OF MUSIC INCLUDING 13,000 3RD, 4TH AND 5TH GRADERS WHO PARTICIPATED IN OUR LINK UP PROGRAMMING, WHILE OUR MUSIC THERAPY PROGRAM SERVED OVER 500 YOUTH STATEWIDE. 3782845 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 31 0 333 1 0 0 0 0 0 1 1 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 RI X DONNA CHACE-LARSON DIRECTOR OF FIN 4012487070 667 WATERMAN AVE EAST PROVIDENCE RI 02914 MARIE LANGLOIS PRESIDENT 2.00 X X 0 0 0 ROBERT NAPARSTEK PRESIDENT ELECT 2.00 X X 0 0 0 ROBERT MANNING TREASURER 2.00 X X 0 0 0 BARBARA DREYER SECRETARY 2.00 X X 0 0 0 KAREN PELCZARSKI GENERAL COUNSEL 2.00 X X 0 0 0 RAYMOND F MURPHY JR OVERSEERS CHAIR 2.00 X X 0 0 0 WILLIAM J ASH DIRECTOR 2.00 X 0 0 0 MARJORIE CATANZARO DIRECTOR 2.00 X 0 0 0 LISA CHURCHVILLE DIRECTOR 2.00 X 0 0 0 PETER COSTA DIRECTOR 2.00 X 0 0 0 RONALD DELELLIS DIRECTOR 2.00 X 0 0 0 LINDA DIEBOLD DIRECTOR 2.00 X 0 0 0 DAVID M GILDEN DIRECTOR 2.00 X 0 0 0 SUZANNE GILSTEIN DIRECTOR 2.00 X 0 0 0 MARK GIM DIRECTOR 2.00 X 0 0 0 AMY M GOLDSTEIN DIRECTOR 2.00 X 0 0 0 JOHN R GOWELL JR DIRECTOR (TILL 9/2014) 2.00 X 0 0 0 ROBERT GRANT DIRECTOR 2.00 X 0 0 0 ALMON HALL DIRECTOR 2.00 X 0 0 0 PAUL KAPPEL DIRECTOR 2.00 X 0 0 0 ETHAN HILLARY KISCH DIRECTOR 2.00 X 0 0 0 SEAN LYNCH DIRECTOR 2.00 X 0 0 0 LINDA MAAIA DIRECTOR 2.00 X 0 0 0 CAROLL MEDEIROS DIRECTOR 2.00 X 0 0 0 CONSTANCE R PEMMERL DIRECTOR 2.00 X 0 0 0 MARIE PETRARCA DIRECTOR (AS OF 9/2014) 2.00 X 0 0 0 HERB RAKATANSKY DIRECTOR 2.00 X 0 0 0 ANNE SAGE DIRECTOR 2.00 X 0 0 0 SHANNON SHALLCROSS DIRECTOR 2.00 X 0 0 0 DEMING SHERMAN DIRECTOR (TILL 9/2014) 2.00 X 0 0 0 ROSALYN SINCLAIR DIRECTOR (TILL 9/2014) 2.00 X 0 0 0 DENNIS STARK DIRECTOR 2.00 X 0 0 0 DAVID VON HEMERT DIRECTOR (AS OF 2/2015) 2.00 X 0 0 0 DAVID WINOKER DIRECTOR 2.00 X 0 0 0 LOIS FINKEL EX-OFFICIO DIRECTOR 2.00 X 0 0 0 SUSAN CULPO EX-OFFICIO DIRECTOR 2.00 X 0 0 0 DAVID J BEAUCHESNE EXECUTIVE DIRECTOR 55.00 X 130867 0 6903 DONNA CHACE-LARSON DIRECTOR OF FINANCE 40.00 X 85463 0 19985 LARRY RACHLEFF MUSIC DIRECTOR 40.00 X 161678 0 0 378008 0 26888 2 0 1 0 0 379189 112902 1923863 2415954 MUSIC SCHOOL 611600 1449023 1449023 ORCHESTRA CONCERTS 711130 1271690 1271690 2720713 104442 104442 202394 36484 165910 165910 165910 78000 379189 217681 -139681 -139681 5267338 2720713 0 130671 406067 192057 124248 89762 2284118 2001465 213294 69359 41428 41428 135605 94379 28013 13213 235977 197759 25241 12977 3885 3885 38794 38794 2500 2500 38986 38986 181797 161910 4540 15347 196650 194611 435 1604 230694 176950 42531 11213 450819 215200 223323 12296 79079 77272 1226 581 141908 141908 304642 304642 54237 19972 33894 371 SCHOLARSHIPS AND DISCOU 174225 174225 GUEST ARTISTS 124279 124279 MISCELLANEOUS 64215 7109 35454 21652 COMMISSIONS 38469 38469 81385 65760 14505 1120 5309759 3782845 1274919 251995 432625 131733 1859177 1943373 124339 170934 204212 255372 10243719 2683413 7835517 7560306 4871097 5129306 473884 393915 15800851 15584939 183998 240864 619038 772245 5600000 5445000 495000 345000 143992 84266 7042028 6887375 X 3282292 3384153 3162084 2509865 2314447 2803546 8758823 8697564 15800851 15584939 -42421 -18838 0 X 0 1 X 1 0 X 1651864 3255122 2397406 3342607 2415954 13062953 1651864 3255122 2397406 3342607 2415954 13062953 2064115 10998838 62712 77586 81860 101466 104442 428066 13491019 13039048 0.81530 0.80790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 2500 0 1 3339 5839 0 PART II-B, LINE 1: DURING FISCAL YEAR 2015, VOTERS OF THE STATE OF RHODE ISLAND PASSED A STATE BOND INITIATIVE, THE RHODE ISLAND CREATIVE AND CULTURAL ECONOMY BONDS. THE BONDS INCLUDED SEVERAL NAMED ORGANIZATIONS, INCLUDING THE RI PHILHARMONIC ORCHESTRA & MUSIC SCHOOL. THE RI PHILHARMONIC ORCHESTRA & MUSIC SCHOOL WILL RECEIVE $2.4 MILLION, WHICH WILL BE USED TO RETIRE A PORTION OF THE ORGANIZATION'S BOND PAYABLE. ALONG WITH THE OTHER NAMED ORGANIZATIONS, THE RI PHILHARMONIC ORCHESTRA & MUSIC SCHOOL LOBBIED LEGISLATORS TO PUT THE INITIATIVE ON THE STATE-WIDE BALLOT AND THEN LOBBIED THE GENERAL PUBLIC TO VOTE IN FAVOR OF THE BONDS' PASSAGE. LOBBYING EXPENSES INCLUDED THE TIME OF THE EXECUTIVE DIRECTOR AS WELL AS FUNDS PAID TO A PUBLIC RELATIONS AND LOBBYING FIRM. 4179278 489099 179163 191001 4656539 4010895 3304 437555 272476 4179278 3007249 831440 287549 115343 4010895 3032960 365386 -9061 382036 3007249 3045972 22698 -20971 14739 3032960 0.33440 0.60210 0.06350 0 0 818164 818164 8444107 1965098 6479009 981448 718315 263133 7560306 DUE TO BOARD DESIGNATED ENDOWMENT 84266 84266 X 5223574 -18838 14060 -4778 5228352 38986 38986 5267338 5284833 14060 14060 5270773 38986 38986 5309759 PART V, LINE 4: ENDOWMENT FUNDS SUPPORT THE PHILHARMONIC IN SEVERAL WAYS, THROUGH A DRAW OF NOT MORE THAN 5% OF THE FUNDS FAIR VALUE ON A TWELVE QUARTER TRAILING AVERAGE. RESTRICTED FUNDS EXIST FOR THE SUPPORT OF THE PHILHARMONIC ORCHESTRA, INCLUDING ENDOWED POSITIONS; THE PHILHARMONIC MUSIC SCHOOL SCHOLARSHIPS; FOR SUPPORT OF THE PHILHARMONIC YOUTH ORCHESTRA; FOR GENERAL OPERATIONS AND FOR SEVERAL OTHER NAMED FUNDS. ALL USE IS MONITORED BY AN INVESTMENT COMMITTEE OF THE ORGANIZAION'S BOARD, AS WELL AS THE BOARD'S FINANCE COMMITTEE. PART X, LINE 2: THE PHILHARMONIC IS A NOT FOR PROFIT CHARITABLE ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT BELIEVES THAT THE PHILHARMONIC OPERATES IN A MANNER CONSISTENT WITH ITS TAX-EXEMPT STATUS AT BOTH THE FEDERAL AND STATE LEVELS. THE PHILHARMONIC ANNUALLY FILES IRS FORM 990 - RETURN OF ORGANIZATIONS EXEMPT FROM INCOME TAX REPORTING VARIOUS INFORMATION THAT THE IRS USES TO MONITOR THE ACTIVITIES OF TAX-EXEMPT ENTITIES. THESE TAX RETURNS ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. THE TAX RETURNS FOR THE FISCAL YEARS ENDED JUNE 30, 2014, 2013, AND 2012 REMAIN OPEN TO EXAMINATION BY THE IRS. THE PHILHARMONIC CURRENTLY HAS NO TAX EXAMINATIONS IN PROGRESS. GALA 457189 379189 78000 21075 24860 130546 41200 457189 379189 78000 21075 24860 130546 41200 217681 -139681 X X X 0 0 0 0 0 0 0 0 0 LARRY RACHLEFF MUSIC DIRECTOR 161678 0 0 0 0 0 0 0 0 0 161678 0 0 0 A RI ECONOMIC DEVELOPMENT CORPORATION 762236CN5 2008-03-01 7000000 ACQUISITION AND RENOVATION OF CARTER CENTER FOR MUSIC & PERFORMANCE 0 0 0 A 7000000 176470 6823530 2008 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE REVIEWED THE DRAFT 990 AND RECOMMENDED APPROVAL TO THE BOARD OF DIRECTORS PRIOR TO FILING. ALL MEMBERS OF THE BOARD WERE PROVIDED WITH A COPY OF THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND THE EXECUTIVE DIRECTOR SIGN AND ACKNOWLEDGE THE CONFLICT OF INTEREST POLICY ANNUALLY, UPDATING FOR ANY CHANGES. IF POTENTIAL OR ACTUAL CONFLICTS OF INTEREST ARISE, THE BOARD OF DIRECTORS EVALUATES AND A VOTE IS TAKEN (WITH THOSE INVOLVED RECUSING THEMSELVES) AS TO WHETHER THE ORGANIZATION WILL ENTER INTO THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS, DISCUSSES, AND APPROVES COMPENSATION FOR OFFICERS, KEY EMPLOYEES AND OTHER TOP MANAGEMENT PERSONNEL ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.