THE LOS ANGELES CHAMBER ORCHESTRA … - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

1968

Legal Domicile

Principal Officer

JAMES R MULALLY

Phone

2136227001

Tax Period

2022-07-01 to 2023-06-30

THE LOS ANGELES CHAMBER ORCHESTRA SOCIETY INC, founded in 1968, is a community nonprofit in the Arts, Culture & Humanities sector that reported $5.9M in total revenue in fiscal year 2022. Expenses of $5.3M left a modest 11% surplus.

Mission

THE ORCHESTRA PURSUES ITS MISSION, "TO ENRICH AND CONNECT OUR COMMUNITY THROUGH INTIMATE AND TRANSFORMATIVE MUSICAL EXPERIENCES WHICH EXEMPLIFY AND FOSTER ARTISTIC EXCELLENCE, EDUCATION AND INNOVATION," THROUGH THE BLEND OF (CONTINUED ON SCH. O)TRADITIONAL MASTERWORKS WITH THE MUSIC OF OUR OWN TIME, AS WELL AS INTERACTIVE SIGNATURE SERIES THAT INVITE LISTENERS TO EXPLORE THE GENESIS OF ORCHESTRAL MUSIC AND MUSIC'S RELATIONSHIP TO OTHER HUMAN ENDEAVORS. FROM ITS INAUGURAL PERFORMANCES IN 1969 LED BY SIR NEVILLE MARRINER, LACO HAS BECOME KNOWN AS A FIRST-RATE INTERPRETER OF BAROQUE AND CLASSICAL REPERTOIRE AND A CHAMPION OF CONTEMPORARY COMPOSERS. PROCLAIMED "AMERICA'S FINEST CHAMBER ORCHESTRA" BY PUBLIC RADIO INTERNATIONAL, LACO REMAINS AMONG THE WORLD'S TOP MUSICAL ENSEMBLES. THE ORCHESTRA HAS MADE 32 RECORDINGS AND GARNERED EIGHT ASCAP AWARDS FOR ADVENTUROUS PROGRAMMING.

Program Service Accomplishments

Program 1

Expenses: $2,828,150 Revenue: $470,748

PERFORMANCES: IN THE COURSE OF 35-40 APPEARANCES EACH YEAR IN DISPARATE LOCATIONS, LACO REACHES A TOTAL LIVE AUDIENCE OF APPROXIMATELY 25,000, WITH UPWARDS OF A MILLION MORE HEARING PERFORMANCES ON RADIO BROADCASTS NATIONWIDE (AND STREAMING WORLDWIDE). LACO SEEKS COMPOSITIONS THAT WERE WRITTEN FOR CHAMBER ORCHESTRAS, THUS CELEBRATING ITS DISTINCTIVE ROLE AMONG LA MUSICAL ORGANIZATIONS. LACO IS ALSO EXCITED TO UNCOVER UNRECOGNIZED ORCHESTRAL WORKS BY COMPOSERS WHOSE SOCIAL STATUS OR RACE HAS NOT HISTORICALLY ENGENDERED THE VISIBILITY THEY DESERVE. LACO'S VISION IS TO BUILD ON OUR REPUTATION AS A MAJOR CULTURAL FORCE IN GREATER LOS ANGELES AND TO BE RECOGNIZED AS A PREMIER ORCHESTRA WORLDWIDE.

Program 2

Expenses: $126,437

EDUCATIONAL ACTIVITIES: STARTING OVER 27 YEARS AGO, SCHOOLCHILDREN IN L.A. HAVE BEEN EMPOWERED TO LEARN ABOUT AND EXPERIENCE LIVE CLASSICAL MUSIC AN ENRICHING EXPERIENCE THEY WILL CARRY FORWARD. WE HAVE EMBARKED ON A NEW ITERATION OF MEET THE MUSIC (MTM) THAT NOW INCLUDES COMPOSER TEACHING ARTIST FELLOWS AND PERFORMANCES RIGHT IN THE NEIGHBORHOOD SCHOOLS. OTHER MTM EDUCATIONAL COMPONENTS INCLUDE: FAMILY DAYS, WHERE THE BASICS OF MUSIC ARE TAUGHT TO EAGER YOUTH AND THEIR FAMILIES; MASTERCLASSES, FEATURING OUTSTANDING LACO AND GUEST ARTISTS; MOCK AUDITIONS, TO PREPARE YOUNG MUSICIANS FOR THE RIGORS OF PROFESSIONAL LIFE, AND THE LACO FELLOWSHIP, FOR PRE-PROFESSIONAL ARTISTS FROM UNDERSERVED COMMUNITIES.

Program 3

Expenses: $83,706 Revenue: $18,724

COLLABORATIONS/SERVICE TO THE ARTS: IN RECENT YEARS, LACO HAS DISTINGUISHED ITSELF AS A CHAMPION OF DIVERSITY, EQUITY AND INCLUSION AMONG AMERICAN ORCHESTRAS. IN ADDITION TO MTM, OTHER LACO...

COLLABORATIONS/SERVICE TO THE ARTS: IN RECENT YEARS, LACO HAS DISTINGUISHED ITSELF AS A CHAMPION OF DIVERSITY, EQUITY AND INCLUSION AMONG AMERICAN ORCHESTRAS. IN ADDITION TO MTM, OTHER LACO INITIATIVES THAT SERVE CONSTITUENCIES OFTEN EXCLUDED FROM THE TRADITIONAL CLASSICAL MUSIC MILIEU INCLUDE: 1) COLLABORATION WITH COMMUNITY PARTNERS (DIVERSE SBOS IN ALL PARTS OF THE CITY); 2) CONTINUING FOCUS ON WOMEN COMPOSERS AND COMPOSERS OF COLOR IN OUR COMMISSIONING PROCESSES; 3) ENGAGEMENT WITH ORCHESTRAS NATIONWIDE THROUGH MEMBERSHIP IN "EQUITY ARC," A CONNECTOR, CONVENER, AND FACILITATOR FOR CLASSICAL MUSIC ORGANIZATIONS AND BIPOC INSTRUMENTALISTS.

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Trantor Score

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

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $4,925,911

Program Service Revenue $489,472

Investment Income $537,342

Other Revenue $-21,602

TOTAL REVENUE $5,931,123

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,027,045

Fundraising Expenses $578,915

Program Expenses $3,038,293

Other Expenses $2,218,795

TOTAL EXPENSES $5,251,340

Year-over-Year Comparison

	2022	2021	Change
Revenue	$5,931,123	$5,655,008	+0.0%
Expenses	$5,251,340	$4,327,269	+0.2%
Net Income	$679,783	$1,327,739	-0.5%

Key Indicators

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

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Governance

Voting Members

Independent Members

Employees

160

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

$456,796

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANNE-MARIE SPATARU	CHAIR	20.00	Officer Director	$0	$0	$0
LESLIE LASSITER	VICE CHAIR	20.00	Officer Director	$0	$0	$0
DANA NEWMAN	VICE CHAIR	20.00	Officer Director	$0	$0	$0
JAMES MULALLY	TREASURER	4.00	Officer Director	$0	$0	$0
JORDAN TETI	SECRETARY	4.00	Officer Director	$0	$0	$0
RUTH L ELIEL	DIRECTOR	2.00	Director	$0	$0	$0
PEGGY FALCON	DIRECTOR	2.00	Director	$0	$0	$0
ANN GRAUSAM	DIRECTOR	2.00	Director	$0	$0	$0
THOMAS KONTCHOU	DIRECTOR	2.00	Director	$0	$0	$0
GARY LARSEN	DIRECTOR	2.00	Director	$0	$0	$0
JUNE LI	DIRECTOR	2.00	Director	$0	$0	$0
RAYMOND LOWE	DIRECTOR	2.00	Director	$0	$0	$0
SHAHEEN NANJI	DIRECTOR	2.00	Director	$0	$0	$0
DAN OHIGI	DIRECTOR	2.00	Director	$0	$0	$0
AMY RABWIN	DIRECTOR	2.00	Director	$0	$0	$0
JOAN WYNN	DIRECTOR	2.00	Director	$0	$0	$0
REGINA CABRERA	MARKETING DIRECTOR	40.00	Officer	$101,876	$1,110	$102,986
BENJAMIN CADWALLADER-STAUB	EXECUTIVE DIRECTOR	40.00	Officer	$218,554	$11,575	$230,129
JULIA PARAS	DEVELOPMENT DIRECTOR	40.00	Officer	$113,792	$9,889	$123,681

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	No data	No data	No data	No data
2023	$5,931,123	$5,251,340	$6,453,954	$679,783
2022	$5,655,008	$4,327,269	$5,878,356	$1,327,739
2021	$3,490,076	$3,060,147	$5,194,806	$429,929
2021	$3,490,076	$3,060,147	$5,194,806	$429,929
2020	$4,066,939	$3,805,655	$3,660,087	$261,284
2020	$3,578,403	$3,799,394	$3,660,087	$-220,991
2019	$4,550,744	$4,774,234	$3,488,668	$-223,490
2018	$4,541,160	$5,323,523	$3,766,082	$-782,363

THE LOS ANGELES CHAMBER ORCHESTRA SOCIETY INC