SPARTANBURG PHILHARMONIC (EIN 570485556) - 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

1949

Legal Domicile

Principal Officer

KATHRYN BOUCHER

Phone

8649489020

Tax Period

2024-07-01 to 2025-06-30

SPARTANBURG PHILHARMONIC, founded in 1949, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $1.0M left a modest 4% surplus.

Mission

PROVIDE ORCHESTRA, OPERA, AND CONCERT EVENTS FOR THE SPARTANBURG COMMUNITY.

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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 $708,076

Program Service Revenue $365,828

Investment Income $1,759

Other Revenue $0

TOTAL REVENUE $1,075,663

Expense Breakdown

Grants Paid $0

Salaries & Benefits $619,744

Fundraising Expenses $121,355

Program Expenses $752,538

Other Expenses $416,669

TOTAL EXPENSES $1,036,413

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,075,663	$969,820	+0.1%
Expenses	$1,036,413	$942,753	+0.1%
Net Income	$39,250	$27,067	+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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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

145

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

$89,202

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHRYN BOUCHER	EXECUTIVE DI	40.00	Officer	$89,202	$0	$89,202
BARRY BODIE	MEMBER	1.00	Director	$0	$0	$0
RACHEL CHALMERS	MEMBER	1.00	Director	$0	$0	$0
JOHN CRIBB	MEMBER	1.00	Director	$0	$0	$0
SHARON DOYLE	MEMBER	1.00	Director	$0	$0	$0
MARK FERGUSON	VICE PRESIDE	1.00	Director	$0	$0	$0
PETER GRZAN	MEMBER	1.00	Director	$0	$0	$0
ROSS HAMMOND	MEMBER	1.00	Director	$0	$0	$0
SADE HENDERSON	MEMBER	1.00	Director	$0	$0	$0
CHANDRA HOPKINS	VICE PRESIDE	1.00	Director	$0	$0	$0
BOB IRELAND	MEMBER	1.00	Director	$0	$0	$0
CURT LAIRD	MEMBER	1.00	Director	$0	$0	$0
OHMAR LAND	MEMBER	1.00	Director	$0	$0	$0
SAMANTHA LARKINS	VICE PRESIDE	1.00	Director	$0	$0	$0
CABE LORING	PRESIDENT	1.00	Director	$0	$0	$0
KAY MADDOX	MEMBER	1.00	Director	$0	$0	$0
GREG MURPHY	MEMBER	1.00	Director	$0	$0	$0
ALEX HUNT NORTH	MEMBER	1.00	Director	$0	$0	$0
AMY OAKES	MEMBER	1.00	Director	$0	$0	$0
RICK ORR	MEMBER	1.00	Director	$0	$0	$0
KAREN PARROTT	PAST PRESIDE	1.00	Director	$0	$0	$0
PERRIN PATTERSON	MEMBER	1.00	Director	$0	$0	$0
MYRELLA SAMUELS	MEMBER	1.00	Director	$0	$0	$0
BILL SCOTT	MEMBER	1.00	Director	$0	$0	$0
DAVID SMART	TREASURER	1.00	Director	$0	$0	$0
CHRIS STRICKLAND	SECRETARY	1.00	Director	$0	$0	$0
SWITI THAKKAR	MEMBER	1.00	Director	$0	$0	$0
SARAH TIGNOR	MEMBER	1.00	Director	$0	$0	$0
KATHY WOFFORD	MEMBER	1.00	Director	$0	$0	$0
FRANCISCA YANEZ	MEMBER	1.00	Director	$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
2025	$1,075,663	$1,036,413	$778,676	$39,250
2024	$969,820	$942,753	$742,519	$27,067
2023	$1,017,480	$922,189	$717,200	$95,291
2022	$833,009	$771,429	$755,799	$61,580
2021	$532,764	$579,671	$687,235	$-46,907
2020	$788,112	$661,712	$704,202	$126,400
2019	$582,391	$621,555	$480,348	$-39,164

SPARTANBURG PHILHARMONIC