PHILADELPHIA ORCHESTRA ASSOCIATION

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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

1903

Legal Domicile

Principal Officer

RYAN FLEUR

Phone

2158931900

Tax Period

2023-09-01 to 2024-08-31

PHILADELPHIA ORCHESTRA ASSOCIATION, founded in 1903, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $84.4M in total revenue in fiscal year 2023. Revenue surged 53% from the prior year, signaling strong growth momentum. The organization ran a surplus of $19.6M, a strong 23% operating margin.

Mission

TO SHARE THE TRANSFORMATIVE POWER OF MUSIC WITH THE WIDEST AUDIENCE

Program Service Accomplishments

Program 1

Expenses: $44,840,093 Revenue: $20,808,158

ORCHESTRAL MUSIC PROGRAMS: THE PHILADELPHIA ORCHESTRA TOOK PART IN APPROXIMATELY 179 PERFORMANCE EVENTS THROUGHOUT THE YEAR: MAIN CLASSICAL SERIES (69), SPECIAL CONCERTS (28), FAMILY, SCHOOL AND...

ORCHESTRAL MUSIC PROGRAMS: THE PHILADELPHIA ORCHESTRA TOOK PART IN APPROXIMATELY 179 PERFORMANCE EVENTS THROUGHOUT THE YEAR: MAIN CLASSICAL SERIES (69), SPECIAL CONCERTS (28), FAMILY, SCHOOL AND COMMUNITY EVENTS (43) AND TOURS AND REGIONAL CONCERTS (39). THE PHILADELPHIA ORCHESTRA ALSO PROVIDED FREE VIRTUAL CONCERTS THROUGH ITS WEBSITE AND COMMUNITY ENGAGEMENT OFFERINGS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $31,556,198

Program Service Revenue $19,695,186

Investment Income $29,536,761

Other Revenue $3,590,215

TOTAL REVENUE $84,378,360

Expense Breakdown

Grants Paid $50,000

Salaries & Benefits $37,670,124

Fundraising Expenses $2,735,519

Program Expenses $44,840,093

Other Expenses $26,978,665

TOTAL EXPENSES $64,803,791

Year-over-Year Comparison

	2023	2022	Change
Revenue	$84,378,360	$55,220,839	+0.5%
Expenses	$64,803,791	$57,958,223	+0.1%
Net Income	$19,574,569	$-2,737,384	-8.2%

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

537

Volunteers

450

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

$2,307,735

Total Directors

$1,753,138

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATIAS TARNOPOLSKY	BOARD MEMBER/PRES AND CEO	20.00	Officer Director	$918,657	$154,061	$1,072,718
ANNE C EWERS	BOARD MEMBER (THRU 12/23)	2.00	Director	$0	$8,099	$680,420
RALPH W MULLER	CHAIR	5.00	Officer Director	$0	$0	$0
ROBERT CORRATO	BOARD MEMBER	5.00	Director	$0	$0	$0
MARK S DICHTER	BOARD MEMBER	5.00	Director	$0	$0	$0
JOHN FRY	BOARD MEMBER (AS OF 01/24)	5.00	Director	$0	$0	$0
JULIA HALLER MD	BOARD MEMBER	2.00	Director	$0	$0	$0
OSAGIE O IMASOGIE	BOARD MEMBER	5.00	Director	$0	$0	$0
ERIKA H JAMES PHD	BOARD MEMBER (AS OF 02/24)	5.00	Director	$0	$0	$0
BROOK LENFEST	BOARD MEMBER	5.00	Director	$0	$0	$0
JAMI WINTZ MCKEON	BOARD MEMBER	5.00	Director	$0	$0	$0
ELIZABETH MURPHY	BOARD MEMBER (THRU 06/24)	5.00	Director	$0	$0	$0
SULAIMAN RAHMAN	DIRECTOR (THRU 12/23)	2.00	Director	$0	$0	$0
CAROLINE B ROGERS	BOARD MEMBER	2.00	Director	$0	$0	$0
ADRIENNE SIMPSON	BOARD MEMBER	2.00	Director	$0	$0	$0
RICHARD B WORLEY	BOARD MEMBER	5.00	Director	$0	$0	$0
MICHAEL ZISMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
RYAN FLEUR	EXECUTIVE DIRECTOR/COO	40.00	Officer	$440,479	$61,061	$501,540
MARIO MESTICHELLI	BD MBR(NON-VOTING)/CFO/TREAS	20.00	Officer	$368,363	$59,311	$427,674
MITCHELL BASSION	SECRETARY	40.00	Officer	$270,303	$35,500	$305,803
DAVID KIM	CONCERT MSTR	38.00	Highest	$459,687	$51,043	$510,730
RICARDO MORALES	MUSICIAN	40.00	Highest	$394,898	$45,077	$439,975
JENNIFER MONTONE RESSLER	MUSICIAN	40.00	Highest	$333,349	$45,666	$379,015
JEFFREY KHANER	MUSICIAN	40.00	Highest	$329,621	$46,114	$375,735
PHILIPPE TONDRE	MUSICIAN	40.00	Highest	$322,623	$24,811	$347,434

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	No data	No data	No data	No data
2024	$84,378,360	$64,803,791	$234,452,476	$19,574,569
2023	$55,220,839	$57,958,223	$214,658,723	$-2,737,384
2022	$76,775,994	$53,622,188	$197,766,914	$23,153,806
2021	$41,118,272	$34,350,257	$211,538,479	$6,768,015
2020	$42,819,632	$45,143,785	$165,453,713	$-2,324,153
2019	$98,848,643	$51,535,002	$153,772,760	$47,313,641
2018	$53,174,562	$52,489,362	$105,857,909	$685,200