THE PALM BEACH SYMPHONY SOCIETY INC

EIN: 591542539 501(c)(3) Arts, Culture & Humanities

WEST PALM BEACH, FL

Total Revenue
$4,256,844
Total Expenses
$4,265,864
Total Assets
$3,930,928
Net Assets
$3,017,279
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1974
Legal Domicile
FL
Principal Officer
MR JAMES BORYNACK
Phone
5616552657
Tax Period
2024-06-01 to 2025-05-31

THE PALM BEACH SYMPHONY SOCIETY INC, founded in 1974, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.3M in total revenue in fiscal year 2024.

Mission

TO EDUCATE AND TO NURTURE THE LOCAL COMMUNITY IN CLASSICAL SYMPHONIC MUSIC THROUGH THE UTILIZATION OF ITS SYMPHONIC ORCHESTRA.

Program Service Accomplishments

Program 1
Expenses: $3,130,464 Revenue: $675,620

UNDER THE VISIONARY LEADERSHIP OF CEO DAVID MCCLYMONT AND THE ARTISTIC EXCELLENCE OF MUSIC DIRECTOR GERARD SCHWARZ, PALM BEACH SYMPHONY EXPERIENCED UNPRECEDENTED GROWTH AND IMPACT IN THE 2024-2025...

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UNDER THE VISIONARY LEADERSHIP OF CEO DAVID MCCLYMONT AND THE ARTISTIC EXCELLENCE OF MUSIC DIRECTOR GERARD SCHWARZ, PALM BEACH SYMPHONY EXPERIENCED UNPRECEDENTED GROWTH AND IMPACT IN THE 2024-2025 SEASON. THE SYMPHONY PRESENTED SEVEN SOLD-OUT MASTERWORKS CONCERTS FEATURING AN ORCHESTRA OF MORE THAN 90 WORLD-CLASS MUSICIANS, CEMENTING ITS STATURE AS ONE OF AMERICA'S PREMIER REGIONAL ORCHESTRAS.THIS SEASON, THE SYMPHONY ACHIEVED: 10% INCREASE IN MEMBERSHIPS AND SUBSCRIPTIONS. 12% INCREASE IN INDIVIDUAL CONTRIBUTIONS AND CORPORATE SPONSORSHIPS. RECORD-BREAKING ATTENDANCE AT ALL FUNDRAISING AND CONCERT EVENTS.(CONTINUED IN SCHEDULE O) EXPANDED DONOR BASE BY OVER 500 NEW PATRONS. 30% INCREASE IN INSTRUMENT DONATIONS TO SUPPORT MUSIC EDUCATION.PALM BEACH SYMPHONY'S 2024-2025 EDUCATION AND OUTREACH EFFORTS, LED THROUGH THE PAUL AND SANDRA GOLDNER CONSERVATORY OF MUSIC, REACHED THOUSANDS ACROSS PALM BEACH COUNTY WITH A BLEND OF PERFORMANCES, RESIDENCIES, AND COMMUNITY PROGRAMS. THE TODD BARRON INSTRUMENT DONATION PROGRAM PROVIDED 218 INSTRUMENTS AND 1,231 ACCESSORIES THIS SEASON, BRINGING THE TOTAL TO 898 INSTRUMENTS AND 2,629 ACCESSORIES SINCE 2016. SEVEN TITLE I SCHOOLS HOSTED ARTISTS-IN-RESIDENCE FOR 363 CONTACT HOURS, 183 COACHINGS, AND 64 CLASSES, REACHING 541 STUDENTS ON A CONTINUOUS BASIS. THE SYMPHONY DELIVERED FIVE IN-SCHOOL CONCERTS, THREE STEAM SESSIONS, AND NUMEROUS PRE-CONCERT LOBBY PERFORMANCES IN PARTNERSHIP WITH SCHOOLS AND ARTS ORGANIZATIONS. THE DALE A. MCNULTY CHILDREN'S CONCERT SERIES PREMIERED CINDERELLA AND THE ORCHESTRA, ENGAGING 3,369 ATTENDEES AND DISTRIBUTING CURRICULUM GUIDES TO 500 SCHOOLS, IMPACTING OVER 200,000 STUDENTS. COMPLIMENTARY AND DISCOUNTED TICKETS PROVIDED ACCESS FOR 2,289 STUDENTS, EDUCATORS, AND FAMILIES, WHILE MASTERCLASSES, SPECIAL CLINICS, AND OPEN REHEARSALS OFFERED DIRECT LEARNING OPPORTUNITIES WITH RENOWNED ARTISTS. OUTREACH PROGRAMS ALSO INCLUDED 88 COMMUNITY EVENTS, 217 SPECIALIZED COACHING SESSIONS, 477 INSTRUCTIONAL HOURS, AND INITIATIVES LIKE NURTURING NOTES, WHICH BROUGHT LIVE MUSIC INTO HOSPITALS.PALM BEACH SYMPHONY'S EDUCATION AND COMMUNITY ENGAGEMENT PROGRAMS REACHED MORE PEOPLE THAN EVER BEFORE. INITIATIVES INCLUDED YEARLONG RESIDENCIES IN TITLE I SCHOOLS, OVER 100 IN-SCHOOL PERFORMANCES AND WORKSHOPS, STUDENT COACHING SESSIONS WITH PROFESSIONAL MUSICIANS, INSTRUMENT DISTRIBUTION TO UNDERSERVED STUDENTS, AND PUBLIC MASTERCLASSES WITH NATIONALLY RECOGNIZED ARTISTS.THE SYMPHONY'S COMMITMENT TO ACCESSIBILITY WAS UNDERSCORED BY FREE PUBLIC CONCERTS IN PARKS, CULTURAL CENTERS, AND COMMUNITY SPACES IMPACTING OVER 20,000 RESIDENTS WHO MIGHT NOT OTHERWISE EXPERIENCE LIVE SYMPHONIC MUSIC.THROUGH THIS BLEND OF ARTISTIC EXCELLENCE, MEASURABLE GROWTH, AND DEEP COMMUNITY ENGAGEMENT, PALM BEACH SYMPHONY CONTINUES TO SERVE AS A CULTURAL ANCHOR FOR THE REGION WHILE INSPIRING THE NEXT GENERATION OF MUSICIANS AND MUSIC LOVERS.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,068,978
Program Service Revenue $640,201
Investment Income $130,509
Other Revenue $417,156
TOTAL REVENUE $4,256,844

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,340,975
Fundraising Expenses $755,800
Program Expenses $3,130,464
Other Expenses $2,924,889
TOTAL EXPENSES $4,265,864

Year-over-Year Comparison

2024 2023 Change
Revenue $4,256,844 $4,218,147 +0.0%
Expenses $4,265,864 $3,937,920 +0.1%
Net Income $-9,020 $280,227 -1.0%
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
17
Independent Members
17
Employees
12
Volunteers
40

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
4
$381,399
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MR JAMES BORYNACK CHAIR 30.00
Officer Director
$0 $0 $0
MR RICHARD BREKUS VICE CHAIR 10.00
Officer Director
$0 $0 $0
MR JOHN D HERRICK TREASURER 10.00
Officer Director
$0 $0 $0
MR DON THOMPSON SECRETARY 10.00
Director
$0 $0 $0
MS LAURIE BAY DIRECTOR 10.00
Director
$0 $0 $0
MS CAROL BAXTER DIRECTOR 10.00
Director
$0 $0 $0
MS CATHLEEN BLACK DIRECTOR 10.00
Director
$0 $0 $0
MS NANNETTE CASSIDY DIRECTOR 10.00
Director
$0 $0 $0
MS AMY COLLINS DIRECTOR 10.00
Director
$0 $0 $0
MR TODD DAHLSTROM DIRECTOR 10.00
Director
$0 $0 $0
MS MARY DEMORY DIRECTOR 10.00
Director
$0 $0 $0
MS CAROL HAYS DIRECTOR 10.00
Director
$0 $0 $0
MR PERCY KAVASMANECK DIRECTOR 10.00
Director
$0 $0 $0
MS MARIETTA M MCNULTY DIRECTOR 10.00
Director
$0 $0 $0
MS MARTHA RODRIGUEZ MD DIRECTOR 10.00
Director
$0 $0 $0
MS KAREN ROGERS DIRECTOR 10.00
Director
$0 $0 $0
MR ADAM WOLEK DIRECTOR 10.00
Director
$0 $0 $0
MR DAVID MCCLYMONT CEO 40.00
Officer
$347,680 $33,719 $381,399
MS OLGA VAZQUEZ DIRECTOR OF ARTISTIC OPERA 40.00
Highest
$111,259 $11,287 $122,546
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 $4,256,844 $4,265,864 $3,930,928 $-9,020
2024 $4,218,147 $3,937,920 $3,745,527 $280,227
2023 $3,556,955 $3,770,399 $2,728,286 $-213,444
2023 $3,454,374 $3,754,029 $2,728,286 $-299,655
2022 $3,215,175 $2,872,593 $3,120,506 $342,582
2021 $1,832,504 $1,703,662 $2,739,775 $128,842
2020 $2,242,497 $1,912,207 $2,258,054 $330,290
2019 $2,204,959 $1,776,106 $1,596,757 $428,853
2018 $1,610,647 $1,330,442 $1,147,303 $280,205
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