2012-05-21T09:45:54-05:00 2011-05-31 PLANTE & MORAN PLLC 111 E COURT ST SUITE 1A FLINT MI 485021647 990 2010-06-01 386159482 FLINT INSTITUTE OF MUSIC FLIN 8102381350 1025 E KEARSLEY ST FLINT MI 48503 PAUL TORRE 8102381350 2012-05-17 1 TADD HARBURN 8107675350 2010 2016-02-24 21:20:13Z PAUL TORRE 1025 E KEARSLEY ST FLINT MI 48503 7540474 0 X FLINTINSTITUTEOFMUSIC.ORG X 1966 MI CHANGING LIVES THROUGH A LIFELONG CONTINUUM OF WORLD-CLASS MUSIC, THEATRE, AND DANCE. 19 19 96 657 17250 0 3802554 3556705 1775873 1748801 -931832 298064 25017 -19989 4671612 5583581 217187 218686 0 0 3219812 2343705 0 0 221980 2246393 3236794 5683392 5799185 -1011780 -215604 34417820 38434800 328939 301619 34088881 38133181 X CHANGING LIVES THROUGH A LIFELONG CONTINUUM OF WORLD-CLASS MUSIC, THEATRE, AND DANCE. 0 0 1063188 258387 PROGRAMS BY THE FLINT SYMPHONY ORCHESTRA 2610754 211686 1284829 PROGRAMS BY THE FLINT SCHOOL OF PERFORMING ARTS 848061 203121 PROGRAMS BY THE FLINT YOUTH THEATRE 7813 7000 2464 ALLEGRO - AUXILIARY OVER WHICH THE BOARD HAS CONTROL OF THE VOLUNTEERS WHO PROVIDE SERVICE TO FLINT INSTITUTE OF MUSIC 7813 7000 2464 4529816 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 249 0 1 96 1 1 1 0 0 0 0 1 1 0 0 0 0 X 19 19 1 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 ALBERT KOEGEL 1.00 X X 0 0 0 DR DANIEL T ANBE 1.00 X 0 0 0 CHARLES W BANKS JR 1.00 X 0 0 0 MICHAEL BOUCEE MD 1.00 X 0 0 0 ALFRED B BRADLEY 1.00 X 0 0 0 BRAD T FOGLEMAN 1.00 X X 0 0 0 CHRIS COOK 1.00 X 0 0 0 ALMEDA HUNTER 1.00 X 0 0 0 ROBERT S FULLER 1.00 X X 0 0 0 SAMUAL R DISMOND JR MD 1.00 X 0 0 0 DR CYRUS FARREHI 1.00 X 0 0 0 VINCE LORRAINE 1.00 X 0 0 0 JIM SPANGLER 1.00 X X 0 0 0 HOWARD SHAND 1.00 X 0 0 0 GLORIA VANDUYNE 1.00 X 0 0 0 GARY WEASE MD 1.00 X 0 0 0 JANET E ORR 1.00 X 0 0 0 MATTHEW D TELLIGA 1.00 X 0 0 0 DONNA ANBE 1.00 X 0 0 0 DAVIN TORRE 40.00 X 101391 0 6847 PAUL TORRE 40.00 X 142662 0 13978 244053 0 20825 2 0 1 0 0 552871 175761 139390 2688683 219977 3556705 TUITION 611600 955145 955145 TICKET SALES 711190 463022 463022 BENEFICIARY TRUST INCO 525920 258338 258338 PROGRAM RELATED RENTAL 900099 36580 36580 MISCELLANEOUS PROGRAM 900099 35716 35716 1748801 124386 124386 2015622 1841944 173678 173678 173678 59910 175761 111473 -51563 -51563 17800 3476 14324 14324 PROGRAM ADVERTISING 541800 17250 17250 17250 5583581 1748801 17250 260825 218686 218686 267279 211150 42765 13364 1761016 1242571 390091 128354 155497 108906 31435 15156 159913 119338 30263 10312 4206 4206 23570 23570 65098 65098 874190 874190 399290 342165 24225 32900 212863 49244 141725 21894 357882 357882 325769 49114 276655 28732 11776 16956 ARTISTIC OPERATIONS 935403 935403 BAD DEBT 9791 9391 400 5799185 4529816 1047389 221980 1603834 1916309 136400 69642 117359 87848 38986 23051 9249648 3125183 6371414 6124465 11427093 13430922 14722734 16782563 34417820 38434800 189288 170146 139651 131473 328939 301619 X 8241315 8114032 612306 3404009 25235260 26615140 34088881 38133181 34417820 38434800 X -215604 4259904 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26096841 242141 4737540 211686 627000 65098 30172738 22525062 706440 3810628 209987 672042 63260 26096841 28160514 2517317 -7185262 169397 736418 61692 22525062 0.02870 0.88210 0.08920 1 0 7642005 1637220 6004785 1503887 1389798 114089 103756 98165 5591 6124465 BENEFICIAL INTERESTS HELD BY THIRD PARTIES 16740576 ANTIQUE INSTRUMENTS 41987 16782563 5583581 5799185 -215604 3122165 1137739 4259904 4044300 9884665 3122165 106278 1137739 4366182 5518483 65098 65098 5583581 5840365 106278 106278 5734087 65098 65098 5799185 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: 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 WERE NO UNRELATED BUSINESS ACTIVITIES IN 2011 AND 2010. ACCORDINGLY, NO TAX EXPENSE WAS INCURRED DURING THE YEARS ENDED JUNE 30, 2011 AND 2010. 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 THE ORGANIZATION, AND HAS CONCLUDED THAT AS OF JUNE 30, 2011 AND 2010, 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 2007. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED CHANGE IN VALUE OF TRUSTS HELD BY THIRD PARTY PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF TRUSTS HELD BY THIRD PARTY 1,137,739. 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 IT IS IN ALL PRINTED MATERIALS. AUCTION 186339 150231 36108 76636 GALA 18875 7850 11025 15437 4 30457 17680 12777 19400 235671 175761 59910 111473 111473 -51563 17800 3250 226 1 1.00000 17800 3250 226 3476 14324 MI 1 0 0 0 1.00000 MICHELLE RICHARDSON 1025 E KEARSLEY ST FLINT MI 48503 0 0 1 SCHOLARSHIPS FOR TUITION 1162 218686 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 IMPUTTED 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. X X X X 0 0 0 0 0 0 0 0 0 PAUL TORRE 136812 0 5850 0 0 0 0 0 13978 0 156640 0 0 0 X 1 214141 FAIR MARKET VALUE X MISC SUPPLIES 3 5836 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 PAUL TORRE AND DAVIN TORRE, AND DANIEL AND DONNA ANBE ARE HUSBAND AND WIFE. 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 DRAFT OF 990 WAS PRESENTED TO BOARD FOR APPROVAL PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C 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 PRESIDENT OF THE BOARD REVIEWS COMPENSATION LEVELS IN COMPARISON WITH OTHER SIMILAR ORGANIZATION 990 REPORTS ANNUALLY IN JULY. WHEN THE FINANCE COMMITTEE APPROVES THE BUDGET, IT ALSO APPROVES ANY PAY INCREASES. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 3,122,165. UNREALIZED CHANGE IN VALUE OF TRUSTS HELD BY THIRD PARTY 1,137,739. TOTAL TO FORM 990, PART XI, LINE 5: 4,259,904. DESCRIBE ANY CHANGE IN RESPONSIBILITY FOR OVERSIGHT OF AUDIT FROM PRIOR YR: FORM 990, PART XI, LINE 2C: NONE NOTED