ROME FESTIVAL ORCHESTRA LTD

EIN: 237254943 501(c)(3) Arts, Culture & Humanities

LUQUILLO, PR

Total Revenue
$72,673
Total Expenses
$37,165
Total Assets
$152,879
Net Assets
$152,879
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1971
Legal Domicile
MD
Principal Officer
JEANNETTE FERRELL
Phone
9082337214
Tax Period
2023-01-01 to 2023-12-31

ROME FESTIVAL ORCHESTRA LTD, founded in 1971, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $73K in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $36K, a strong 49% operating margin.

Mission

OPERATING A SCHOOL FOR THE PROFESSIONAL LEVEL EDUCATION OF CLASSICAL MUSICIANS, OPERA SINGERS, CHORAL SINGERS, AND BALLET DANCERS.

Program Service Accomplishments

Program 1
Expenses: $24,720 Revenue: $12,145

THE ROME FESTIVAL ORCHESTRA, LTD. CONTINUED PHASE TWO OF OPENING IN PUERTO RICO A BRANCH OF THE PRIVATE SCHOOL IT HAS IN ROME, ITALY. THE BRANCH IN PUERTO RICO WILL OPERATE ON A FORMAL BASIS AS A...

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THE ROME FESTIVAL ORCHESTRA, LTD. CONTINUED PHASE TWO OF OPENING IN PUERTO RICO A BRANCH OF THE PRIVATE SCHOOL IT HAS IN ROME, ITALY. THE BRANCH IN PUERTO RICO WILL OPERATE ON A FORMAL BASIS AS A PRIVATE SCHOOL OFFERING A REGULAR PROFESSIONAL LEVEL CURRICULUM THROUGH A CADRE OF ARTIST-TEACHERS TO ITS STUDENT BODY OF HIGHLY QUALIFIED CLASSICAL MUSICIANS, OPERA SINGERS, CHORAL SINGERS AND BALLET DANCERS BY PROVIDING MASTER-CLASSES,COACHING SESSIONS, SEMINARS, VISITATIONS, COUNSELING, ENCOUNTER GROUPS, REHEARSING AND PERFORMING. THESE STUDENTS ARE FURTHER TRAINED TO BE MORE EXPRESSIVE IN THEIR OWN MUSIC-MAKING BY EXPOSING THEM WHILE IN PUERTO RICO TO PRIMARY SOURCE EXAMPLES OF GREAT ART OF BOTH THE VISUAL AND STAGE MEDIA: I.E., PAINTING, SCULPTURE, ARCHITECTURE, AND OPERA. WHEN FULLY OPERATIONAL THE NUMBER OF PEOPLE PARTICIPATING IN THESE ACTIVITIES WILL INCLUDE 10 ARTIST-TEACHERS AND NON TEACHING EMPLOYEES WHO WILL BE PAID ON A FEE BASIS, 5 VOLUNTEERS WHO RECEIVE NO REMUNERATION, 19-39 STUDENT MUSICIANS WHO WILL PAY SUBSIDIZED FEES. MOST OF THE STUDENT MUSICIANS WILL BE PUERTO RICAN. STUDENTS FROM OUTSIDE PUERTO RICO WILL INCLUDE AFRICAN-AMERICANS, ASIAN-AMERICANS, AND EUROPEAN-AMERICANS.

Program 2
Expenses: $11,150 Revenue: $5,395

DESPITE THE NATURAL DISASTERS TO THE ISLAND, RESEARCH CONTINUED INTO HOW THE ROME FESTIVAL ORCHESTRA'S MUSIC LIBRARY COULD BEST SERVE SYMPHONY ORCHESTRAS, OPERA GROUPS, MUSIC CONSERVATORIES, AND...

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DESPITE THE NATURAL DISASTERS TO THE ISLAND, RESEARCH CONTINUED INTO HOW THE ROME FESTIVAL ORCHESTRA'S MUSIC LIBRARY COULD BEST SERVE SYMPHONY ORCHESTRAS, OPERA GROUPS, MUSIC CONSERVATORIES, AND INDIVIDUAL CLASSICAL MUSICIANS. WHEN FULLY FUNCTIONAL THE LIBRARY WILL SERVE CLASSICAL MUSIC ENSEMBLES IN PUERTO RICO INCLUDING THE PUERTO RICAN SYMPHONY, PUERTO RICAN CONSERVATORY, ROME FESTIVAL ORCHESTRA AND OPERA INSTITUTE IN PUERTO RICO, AND NUMEROUS MUSIC EDUCATION PROGRAMS IN PUERTO RICO.

Program 3
Expenses: $1,295 Revenue: $575

CLASSICAL MUSIC AUDIENCE DEVELOPMENT PRINCIPALLY OUTSIDE SAN JUAN, PUERTO RICO BUT ALSO IN SAN JUAN.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $32,500
Program Service Revenue $18,115
Investment Income $22,058
Other Revenue $0
TOTAL REVENUE $72,673

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $37,165
Other Expenses $37,165
TOTAL EXPENSES $37,165

Year-over-Year Comparison

2023 2022 Change
Revenue $72,673 $63,522 +0.1%
Expenses $37,165 $39,500 -0.1%
Net Income $35,508 $24,022 +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
5
Independent Members
N/A
Employees
N/A
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
3
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
J JEANNETTE FERRELL SECRETARY-TREAS 2.00
Officer Director
$0 $0 $0
MR DONATO SORANNO TRUSTEE 0.00
Director
$0 $0 $0
MR C RAY BARBER TRUSTEE 0.00
Director
$0 $0 $0
JOSEPH POSKAY TRUSTEE 0.00
Director
$0 $0 $0
MRS CHRISTIAN DAVIS PRESIDENT 1.00
Officer
$0 $0 $0
PATRICIA PATE VICE-PRESIDENT 1.00
Officer
$0 $0 $0
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
2024 No data No data No data No data
2023 $72,673 $37,165 $152,879 $35,508
2022 $63,522 $39,500 $158,248 $24,022
2021 $38,948 $40,070 $228,800 $-1,122
2020 $87,320 $52,892 $644,608 $34,428
2019 $115,286 $80,697 $625,316 $34,589
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