RHODE ISLAND PHILHARMONIC ORCHESTRA & MUSIC SCHOOL (EIN 050267451) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1944

Legal Domicile

Principal Officer

DAVID BEAUCHESNE

Phone

4012487070

Tax Period

2024-07-01 to 2025-06-30

RHODE ISLAND PHILHARMONIC ORCHESTRA & MUSIC SCHOOL, founded in 1944, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $10.2M in total revenue in fiscal year 2024. Revenue surged 51% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.2M, a strong 31% operating margin.

Mission

TO ENRICH AND TRANSFORM RHODE ISLAND AND OUR REGION THROUGH GREAT MUSIC PERFORMANCE AND EDUCATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $7,333,813

Program Service Revenue $2,712,397

Investment Income $263,071

Other Revenue $-76,501

TOTAL REVENUE $10,232,780

Expense Breakdown

Grants Paid $236,868

Salaries & Benefits $3,501,908

Fundraising Expenses $322,816

Program Expenses $5,350,798

Other Expenses $3,325,326

TOTAL EXPENSES $7,064,102

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,232,780	$6,763,441	+0.5%
Expenses	$7,064,102	$7,705,155	-0.1%
Net Income	$3,168,678	$-941,714	-4.4%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

366

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$435,237

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN CHUNG	PRESIDENT	2.00	Officer Director	$0	$0	$0
DR EDWARD WING	CHIEF MEDICAL ADVISOR & SECRETARY	2.00	Officer Director	$0	$0	$0
BRENDAN MCCORRY	TREASURER	2.00	Officer Director	$0	$0	$0
KAREN PELCZARSKI	GENERAL COUNSEL	2.00	Officer Director	$0	$0	$0
DAVID AMES	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM ASH	DIRECTOR	2.00	Director	$0	$0	$0
TING BARNARD	DIRECTOR	2.00	Director	$0	$0	$0
PETER COSTA	DIRECTOR	2.00	Director	$0	$0	$0
LINDA DIEBOLD	DIRECTOR	2.00	Director	$0	$0	$0
SHAUNA DUFFY	DIRECTOR	2.00	Director	$0	$0	$0
JOHN EUSTIS	DIRECTOR	2.00	Director	$0	$0	$0
AMY GOLDSTEIN	DIRECTOR	2.00	Director	$0	$0	$0
KAREN GRANDE	DIRECTOR	2.00	Director	$0	$0	$0
JOANNE HAWORTH	DIRECTOR	2.00	Director	$0	$0	$0
GLENNA HAGOPIAN	DIRECTOR	2.00	Director	$0	$0	$0
JAMES LOW	DIRECTOR (AS OF 09/24)	2.00	Director	$0	$0	$0
MARIE MYERS	DIRECTOR	2.00	Director	$0	$0	$0
MARY REINEMAN	DIRECTOR	2.00	Director	$0	$0	$0
DANIEL ROSSIGNOL	DIRECTOR (AS OF 09/24)	2.00	Director	$0	$0	$0
DEMING SHERMAN	DIRECTOR	2.00	Director	$0	$0	$0
DAVID VON HEMERT	DIRECTOR	2.00	Director	$0	$0	$0
DR SCOTT WALKER	DIRECTOR	2.00	Director	$0	$0	$0
DAVID WINOKER	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT FETZER	DIRECTOR (TO 09/24)	2.00	Director	$0	$0	$0
CAROL GOLDEN	DIRECTOR (TO 09/24)	2.00	Director	$0	$0	$0
JESSICA GRANATIERO	DIRECTOR (TO 09/24)	2.00	Director	$0	$0	$0
HERBERT RAKATANSKY	DIRECTOR (TO 09/24)	2.00	Director	$0	$0	$0
ROSALYN SINCLAIR	DIRECTOR (TO 09/24)	2.00	Director	$0	$0	$0
DAVID BEAUCHESNE	EXECUTIVE DIRECTOR	40.00	Officer	$203,940	$15,583	$219,523
JILL FRECHETTE	DIRECTOR OF FINANCE	40.00	Officer	$88,508	$8,974	$97,482
LAURIE JOHNSON CARVALHO	DIRECTOR OF DEVELOPMENT	40.00	Officer	$100,577	$17,655	$118,232

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$10,232,780	$7,064,102	$14,800,453	$3,168,678
2024	No data	No data	No data	No data
2023	$7,226,418	$7,825,802	$14,898,353	$-599,384
2022	$8,995,792	$7,192,819	$14,866,163	$1,802,973
2021	$5,398,910	$5,196,699	$15,804,954	$202,211
2020	$4,725,714	$5,573,083	$14,305,365	$-847,369
2019	$5,500,254	$5,958,865	$14,912,745	$-458,611
2018	$5,029,145	$5,578,397	$15,299,127	$-549,252

RHODE ISLAND PHILHARMONIC ORCHESTRA & MUSIC SCHOOL