LEXINGTON PHILHARMONIC SOCIETY INC

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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

1961

Legal Domicile

Principal Officer

CAROL MCLEOD

Phone

8592334226

Tax Period

2024-07-01 to 2025-06-30

LEXINGTON PHILHARMONIC SOCIETY INC, founded in 1961, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion.

Mission

TO FOSTER EXCELLENCE AND INNOVATION IN PERFORMANCES AND PRESENTATION OF GREAT MUSIC; TO ENRICH THE LIVES OF OUR DIVERSE CITIZENRY; TO EDUCATE CURRENT AND FUTURE AUDIENCES AND TO BRING DISTINCTION TO OUR COMMUNITY THROUGH THE ORCHESTRA'S PRESENCE AND STANDING.

Program Service Accomplishments

Program 1

Expenses: $1,049,944 Revenue: $525,661

THE LEXINGTON PHILHARMONIC PRESENTS OVER 100 CONCERTS, EDUCATIONAL, AND COMMUNITY ENGAGEMENT PROGRAMS ANNUALLY, DESIGNED TO ENGAGE THE DIVERSE POPULATIONS OF CENTRAL KENTUCKY IN THE POWER AND JOY OF MUSIC AND LIVE PERFORMANCE. THE SEASON SERIES FEATURES CLASSICAL MUSIC, NEW MUSIC, AND WORLD PREMIERE WORKS, ALONG WITH WORLD-RENOWNED GUEST ARTISTS. MANY LIFE-LONG LEARNING PROGRAMS ARE OFFERED FREE OF CHARGE WITH COMMUNITY PARTNERS SUCH AS THE LFUCG SENIOR CENTER AND FAYETTE COUNTY PUBLIC SCHOOLS. OTHER EDUCATIONAL PROGRAMS INCLUDE FREE PRE-CONCERT LECTURES, AND MUSICLAB. LEXPHIL REACHES THOUSANDS OF LISTENERS THROUGH ITS PARTNERSHIP OF ON-AIR BROADCASTS AND STREAMING WITH WEKU FM.

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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 $731,809

Program Service Revenue $525,661

Investment Income $482

Other Revenue $-3,337

TOTAL REVENUE $1,254,615

Expense Breakdown

Grants Paid $0

Salaries & Benefits $915,092

Fundraising Expenses $93,859

Program Expenses $1,049,944

Other Expenses $427,255

TOTAL EXPENSES $1,342,347

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,254,615	$1,058,181	+0.2%
Expenses	$1,342,347	$1,169,869	+0.1%
Net Income	$-87,732	$-111,688	-0.2%

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

168

Volunteers

100

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

$62,198

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAROL MCLEOD DVM	PRESIDENT	4.00	Officer Director	$0	$0	$0
COLMON ELRIDGE III	IMMEDIATE PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
PAUL BACHNER	BOARD MEMBER	1.00	Director	$0	$0	$0
REBECCA BARTEE	BOARD MEMBER	1.00	Director	$0	$0	$0
ELIZABETH DEENER	BOARD MEMBER	1.00	Director	$0	$0	$0
WILLIAM LOGGINS	BOARD MEMBER	1.00	Director	$0	$0	$0
JACKIE HAMILTON SAYKALY	BOARD MEMBER	1.00	Director	$0	$0	$0
JOANNE HILLIARD	PRESIDENT ELECT	1.00	Officer Director	$0	$0	$0
CAROLYN HOWARD	BOARD MEMBER	1.00	Director	$0	$0	$0
LOU H JONES	SECRETARY	1.00	Officer Director	$0	$0	$0
JOHN KIEBLER	BOARD MEMBER	1.00	Director	$0	$0	$0
STEPHEN MALLORY	TREASURER	2.00	Officer Director	$0	$0	$0
DONALD MASON	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN WHARTON	FOUNDATION CHAIR	2.00	Officer Director	$0	$0	$0
JOSHUA SANTANA	BOARD MEMBER	1.00	Director	$0	$0	$0
ANDREW SPARKS	BOARD MEMBER	1.00	Director	$0	$0	$0
BRETT SCOTT	BOARD MEMBER	1.00	Director	$0	$0	$0
JEAN SCOTT	BOARD MEMBER	1.00	Director	$0	$0	$0
ADRIENNE THAKUR	BOARD MEMBER	1.00	Director	$0	$0	$0
BROOKE RABY	EXECUTIVE DIRECTOR	40.00	Officer	$62,198	$0	$62,198

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	$1,254,615	$1,342,347	$66,391	$-87,732
2024	$1,058,181	$1,169,869	$52,477	$-111,688
2023	$928,496	$1,007,686	$108,732	$-79,190
2022	$832,713	$857,897	$133,216	$-25,184
2021	$734,388	$427,155	$313,233	$307,233
2020	$1,017,058	$962,258	$108,743	$54,800
2019	$1,132,853	$1,351,597	$134,793	$-218,744
2018	$1,319,481	$1,392,477	$87,601	$-72,996