WESTCHESTER PHILHARMONIC INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1983

Legal Domicile

Principal Officer

JOSHUA WORBY

Phone

9146823707

Tax Period

2022-07-01 to 2023-06-30

WESTCHESTER PHILHARMONIC INC, founded in 1983, is a small nonprofit in the Arts, Culture & Humanities sector that reported $394K in total revenue in fiscal year 2022. Revenue decreased 13% compared to the prior year. Expenses of $456K exceeded revenue, resulting in a 16% operating deficit.

Mission

THE WESTCHESTER PHILHARMONIC PROVIDES INNOVATIVE PERFORMANCES, AND EDUCATIONAL PROGRAMS,SHOWCASING NEW MUSICIANS, COMPOSERS AND CONDUCTORS,AND IS COMMITTED TO BEING AN INCLUSIVE ORGANIZATION THAT INVITES AND ATTRACTS PEOPLE OF DIVERSE BACKGROUNDS.

Program Service Accomplishments

Program 1

Expenses: $116,193 Revenue: $37,173

MAINSTAGE CONCERTS: THE WESTCHESTER PHILHARMONIC'S MAINSTAGE SYMPHONIC CONCERTS TAKE PLACE AT THE PURCHASE PERFORMING ARTS CENTER, ATTRACTING DIVERSE AUDIENCES FROM THROUGHOUT WESTCHESTER COUNTY AS WELL AS NEIGHBORING COMMUNITIES OF ROCKLAND, BERGEN, FAIRFIELD, AND PUTNAM COUNTIES, AND NEW YORK CITY. WITH ITS RICH HISTORY OF SUPPORTING ARTISTS OF DIVERSE BACKGROUNDS, INTRODUCING NEW WORKS AND NEW ARTISTS, TOGETHER WITH TRADITIONAL CLASSICAL REPERTOIRE AND RENOWNED GUEST ARTISTS, THE "PHIL" ENJOYS A REPUTATION FOR OFFERING THRILLING PERFORMANCES OF HIGH CALIBER, AND ARTISTIC RISK-TAKING THAT AUDIENCES EMBRACE.

Program 2

Expenses: $0 Revenue: $0

EDUCATIONAL PROGRAMS: THE WESTCHESTER PHILHARMONIC'S AWARD-WINNING EDUCATIONAL PROGRAMS FOR CHILDREN BRINGS PHILHARMONIC TEACHING ARTISTS INTO CLASSROOMS, GRADES 2 THROUGH 5, AND CULMINATES WITH THE CHILDREN COMING TO THE PERFORMING ARTS CENTER FOR A FULL ORCHESTRA CONCERT IN A REAL CONCERT HALL. THE CLASSROOM MODULES INTRODUCE INSTRUMENT FAMILIES, CONCEPTS OF MELODY AND HARMONY, TEMPO AND RHYTHM, AND COMPOSITIONAL FORM, ALL MADE DIGESTIBLE AND FUN FOR YOUNG EARS AND MINDS. THESE ACTIVITIES HAVE BEEN ADJUSTED IN FREQUENCY AND SIZE AS A CONTINUING EFFECT OF THE PANDEMIC.

Program 3

Expenses: $16,000 Revenue: $14,700

COMMUNITY CONCERTS: THE PHIL'S CHAMBER SERIES CONCERTS HAVE GROWN IN BOTH SIZE, FREQUENCY, AND VENUE DESTINATIONS, AS POST-PANDEMIC AUDIENCES FIND MORE COMFORT IN SMALLER VENUES WITH SMALLER CROWDS. THIS ALSO EXPANDS THE PHIL'S GEOGRAPHIC FOOTPRINT THROUGHOUT THE COUNTY AND ACROSS THE SEASONAL CALENDAR. WE NOW PERFORM AT CRAWFORD PARK AND MANSION IN RYE BROOK, UNTERMYER BOTANICAL GARDENS IN YONKERS, THE GREENBURGH PUBLIC LIBRARY, AS WELL AS OUR CONTINUED PARTNERSHIP WITH DOWNTOWN MUSIC AT GRACE, AT GRACE CHURCH, WHITE PLAINS. DEPENDING ON THE VENUE, CONCERTS ARE OFFERED EITHER FREE OR AT VERY LOW COST, AND CONSISTENTLY SELL OUT. REPERTOIRE FEATURES CLASSICAL GEMS AS WELL AS CONTEMPORARY AND JAZZ GENRES.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $342,398

Program Service Revenue $51,873

Investment Income $0

Other Revenue $0

TOTAL REVENUE $394,271

Expense Breakdown

Grants Paid $0

Salaries & Benefits $134,904

Fundraising Expenses $0

Program Expenses $132,193

Other Expenses $320,864

TOTAL EXPENSES $455,768

Year-over-Year Comparison

	2022	2021	Change
Revenue	$394,271	$453,551	-0.1%
Expenses	$455,768	$260,601	+0.7%
Net Income	$-61,497	$192,950	-1.3%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

$96,544

Total Directors