2014-04-02T15:30:50-05:00 2013-05-31 381357951 PLANTE & MORAN PLLC 111 E COURT ST SUITE 1A FLINT MI 485021649 990 2012-06-01 386159482 FLINT INSTITUTE OF MUSIC FLIN 8102381350 1025 E KEARSLEY ST FLINT MI 48503 PAUL TORRE 8102381350 2014-03-27 1 TADD HARBURN P00099166 8107675350 2012 2015-11-30 17:44:51Z PAUL TORRE 1025 E KEARSLEY ST FLINT MI 48503 7337893 0 X FLINTINSTITUTEOFMUSIC.ORG X 1966 MI CHANGING LIVES THROUGH A LIFELONG CONTINUUM OF WORLD-CLASS MUSIC, THEATRE, AND DANCE. 19 19 97 657 14313 0 3316360 3123631 1653982 1597253 715583 1096582 -18092 -27654 5667833 5789812 193502 189948 0 0 2610504 2643467 0 0 240342 3393527 3392920 6197533 6226335 -529700 -436523 36206336 30691558 418091 294350 35788245 30397208 X CHANGING LIVES THROUGH A LIFELONG CONTINUUM OF WORLD-CLASS MUSIC, THEATRE, AND DANCE. 0 0 1247836 259085 PROGRAMS BY THE FLINT SYMPHONY ORCHESTRA 2567608 189948 1188309 PROGRAMS BY THE FLINT SCHOOL OF PERFORMING ARTS 916983 147234 PROGRAMS BY THE FLINT YOUTH THEATRE 2729 2625 ALLEGRO - AUXILIARY OVER WHICH THE BOARD HAS CONTROL OF THE VOLUNTEERS WHO PROVIDE SERVICE TO FLINT INSTITUTE OF MUSIC 2729 2625 4735156 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 449 0 1 97 1 1 1 0 0 0 0 1 1 0 0 0 0 X 19 19 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MI X MARIANNE STUCKWISCH 8102381350 1025 E KEARSLEY ST FLINT MI 48503 ALFRED B BRADLEY 1.00 X 0 0 0 ALMEDA HUNTER 1.00 X 0 0 0 BILL HENTGEN 1.00 X 0 0 0 CATHY O BLIGHT 1.00 X 0 0 0 CHRIS COOK 1.00 X 0 0 0 DR CYRUS FARREHI 1.00 X 0 0 0 GLORIA VANDUYNE 1.00 X 0 0 0 HOWARD SHAND 1.00 X X 0 0 0 JIM SPANGLER 1.00 X 0 0 0 JUDITH WOLBERT 1.00 X 0 0 0 JULIE SERRA 1.00 X 0 0 0 LENNETTA B CONEY 1.00 X 0 0 0 MARK JACOBSON 1.00 X 0 0 0 MATTHEW D TELLIGA 1.00 X 0 0 0 PETE HUTCHISON 1.00 X 0 0 0 ROBERT S FULLER 1.00 X X 0 0 0 ROSA WANG 1.00 X 0 0 0 SAMUEL R DISMOND JR MD 1.00 X 0 0 0 VINCE LORRAINE 1.00 X X 0 0 0 PAUL TORRE 40.00 X 169631 0 15714 DAVIN TORRE 40.00 X 108835 0 8595 278466 0 24309 2 0 1 0 0 675533 175449 2272649 3813 3123631 TUITION 611600 1016173 1016173 TICKET SALES 711190 452307 452307 BENEFICIARY TRUST INCOME 525920 59094 59094 MANAGEMENT FEES 561000 34977 34977 PROGRAM RELATED RENTAL INCOME 900099 6517 6517 28185 28185 1597253 702293 702293 1826039 1431750 394289 394289 394289 55614 175449 112856 -57242 -57242 18750 3475 15275 15275 PROGRAM ADVERTISING 541800 14313 14313 14313 5789812 1597253 14313 1054615 X 189948 189948 186402 147258 29824 9320 2025256 1357965 502908 164383 12076 7521 4555 247659 165104 60146 22409 172074 120093 38458 13523 3447 3447 25669 25669 108230 108230 920510 920510 263115 237927 25188 232444 36419 165318 30707 304199 304199 291013 24753 266260 30798 12701 18097 ARTISTIC OPERATIONS 1204987 1204987 BAD DEBT 8508 5771 2737 6226335 4735156 1250837 240342 1720370 520075 838796 327526 306570 61616 30416 65732 55118 9392616 3721240 5930434 5671376 12616916 21792593 15483742 1476614 36206336 30691558 307494 184734 110597 109616 418091 294350 X 6980672 7298257 2964386 4469772 25843187 18629179 35788245 30397208 36206336 30691558 X -436523 2298094 -7362477 109869 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 41987 X 40061073 81969 6175616 1044833 616571 165642 44491612 30172738 166977 -1430789 193502 562237 105516 28047671 26096841 242141 4737540 211686 627000 65098 30172738 22525062 706440 3810628 209987 672042 63260 26096841 28160514 2517317 -7185262 169397 736418 61692 22525062 0.04420 0.80250 0.15330 1 0 7736734 2138433 5598301 1545626 1478045 67581 110256 104762 5494 5671376 X 8198155 2298094 101610 116869 2516573 5681582 108230 108230 5789812 6226715 101610 7000 108610 6118105 108230 108230 6226335 PART III, LINE 4: THE FIM HAS RECEIVED ANTIQUE MUSICAL INSTRUMENTS, WHICH ARE ON DISPLAY FOR PUBLIC VIEWING AND THE STUDENTS HAVE THE ABILITY TO USE AND VIEW THE INSTRUMENTS FOR EDUCATIONAL PURPOSES. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: FIM HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: UNDER PROVISION OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE APPLICABLE INCOME TAX REGULATIONS OF THE STATE OF MICHIGAN, FIM IS EXEMPT FROM INCOME TAXES. FIM IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). THERE WAS NO NET INCOME FROM UNRELATED BUSINESS ACTIVITIES IN 2013 AND 2012. ACCORDINGLY, NO TAX EXPENSE WAS INCURRED DURING THE YEARS ENDED MAY 31, 2013 AND 2012. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY FIM AND HAS CONCLUDED THAT AS OF MAY 31, 2013 AND 2012, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. FIM IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2009. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF TRUSTS HELD BY THIRD PARTY 109,869. ELIMINATIONS FOR INTERFUND TRANSFERS 7,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: ELIMINATIONS FOR INTERFUND TRANSFERS 7,000. PART V, LINE 1A: BEGINNING BALANCE HAS BEEN ADJUSTED TO REFLECT ENDOWMENTS HELD BY THE COMMUNITY FOUNDATION OF GREATER FLINT FOR THE BENEFIT OF FIM. THESE FUNDS ARE NOT REFLECTED ON THE BALANCE SHEET OF FIM AS THEY DO NOT HOLD VARIANCE POWER OVER THESE ASSETS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE POLICY IS IN ALL PRINTED MATERIALS AND PUBLICATIONS. AUCTION 180647 158349 22298 939 19429 29512 250 27171 GALA 18950 7275 11675 11592 300 5601 2 31466 9825 21641 1205 6574 350 9933 231063 175449 55614 939 20634 47678 900 42705 112856 -57242 18750 3250 225 1 1.00000 18750 3250 225 3475 15275 MI 1 0 0 0 1.00000 MICHELLE RICHARDSON 1025 E KEARSLEY ST FLINT MI 48503 0 0 1 SCHOLARSHIPS FOR TUITION ASSISTANCE 1092 131417 MERIT SCHOLARSHIPS 176 58531 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: MERIT SCHOLARSHIPS ARE AWARDED BASED ON STUDENT'S PERFORMANCE DURING AUDITIONS. THEY ARE JUDGED BASED ON CATEGORIES OF MUSICIANSHIP, WITH THE HIGHEST SCORES BEING AWARDED SCHOLARSHIP FUNDS. TUITION ASSISTANCE IS DETERMINED BY NEED FACTORS. APPLICANT INFORMATION AND DOCUMENTATION IS INPUTTED INTO SOFTWARE USED BY COLLEGES AND UNIVERSITIES TO DETERMINE FINANCIAL AID. AMOUNT OF FUNDS AVAILABLE ARE DETERMINED BY PERFORMING ARTS DIRECTOR AND CEO. LEVEL OF SUPPORT DETERMINED BY SCORES BASED ON NEED. SCHOLARSHIPS ARE APPLIED TO EACH AWARDEE'S ACCOUNT AS A CREDIT. X X X 0 0 0 0 0 0 0 0 0 PAUL TORRE 142991 0 19140 0 7500 0 0 0 15714 0 185345 0 0 0 DAVIN TORRE FAMILY MEMBER OF PAUL TORRE 107643 EMPLOYMENT 0 FORM 990, PART VI, SECTION A, LINE 6 INDIVIDUALS, FAMILIES, ORGANIZATIONS, OR BUSINESSES MAY BECOME MEMBERS OF FIM THROUGH AN ANNUAL FINANCIAL CONTRIBUTION. THE BOARD OF TRUSTEES SHALL PERIODICALLY DESIGNATE CATEGORIES OF MEMBERSHIP BASED ON AMOUNT OF FINANCIAL CONTRIBUTION. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD DEVELOPMENT COMMITTEE SHALL CIRCULATE A SLATE OF NOMINEES TO THE MEMBERSHIP AT LEAST TEN (10) DAYS PRIOR TO THE ANNUAL MEETING. ADDITIONAL NOMINATIONS MAY BE MADE BY ANY MEMBER OF FIM, IN WRITING, TO THE SECRETARY, AT LEAST FIVE (5) DAYS PRIOR TO THE MEETING. SUCH WRITTEN NOMINATIONS SHALL BE MADE WITH THE CONSENT OF THE NOMINEE. NOMINATIONS FROM THE FLOOR AT THE MEETING WILL NOT BE ACCEPTED. ELECTION OF BOARD MEMBERS AT THE ANNUAL MEETING SHALL BE BY SECRET BALLOT. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT OF FORM 990 WAS PRESENTED TO THE BOARD AND FINANCE COMMITTEE FOR REVIEW AND APPROVAL PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY AND ANY PERSON WITH CONFLICT OF INTEREST IS REQUIRED TO ABSTAIN FROM VOTING WHERE CONFLICT EXISTS. FORM 990, PART VI, SECTION B, LINE 15 RESEARCH OF SIMILAR ORGANIZATIONS WITHIN THE STATE FOR THE RESPECTIVE POSITIONS IS PERFORMED AND EXECUTIVES ARE EVALUATED AGAINST OTHER ORGANIZATIONS' 990 DATA ANNUALLY IN JULY. THE INFORMATION IS PRESENTED TO THE BOARD CHAIR AND TO THE PRESIDENT FOR THE CEO AND ALL OTHER STAFF, RESPECTIVELY. THE INFORMATION IS EVAULATED AND RECOMMENDATIONS ARE MADE AND PUT INTO ACTION WHEN THE BUDGET IS APPROVED BY THE BOARD ANNUALLY IN MAY. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC VIEWING COPIES OF THE GOVERNING DOCUMENTS, ORGANIZATION POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE IN THE FINANCE OFFICE, AT BOARD MEETINGS, AND AT THE ANNUAL MEETING. OTHER FEES FORM 990, PART IX, LINE 11G CONTACT ARTISTS: PROGRAM SERVICE EXPENSES 920,510. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 920,510. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: UNREALIZED CHANGE IN VALUE OF TRUSTS HELD BY THIRD PARTY 109,869. DESCRIBE ANY CHANGE IN RESPONSIBILITY FOR OVERSIGHT OF AUDIT FROM PRIOR YR: FORM 990, PART XII, LINE 2C: THERE WAS NO CHANGE IN OVERSIGHT OR SELECTION PROCESS DURING THE YEAR