LOS ANGELES PHILHARMONIC ASSOCIATI… - Form 990 Financial Data

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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

1934

Legal Domicile

Principal Officer

KIM NOLTEMY

Phone

2139727300

Tax Period

2023-10-01 to 2024-09-30

LOS ANGELES PHILHARMONIC ASSOCIATION, founded in 1934, is a major nonprofit in the Arts, Culture & Humanities sector that reported $216.7M in total revenue in fiscal year 2023. Net assets of $536.2M represent 30 months of operating reserves.

Mission

UNDER THE LEADERSHIP OF MUSIC & ARTISTIC DIRECTOR GUSTAVO DUDAMEL, THE LA PHIL OFFERS LIVE PERFORMANCES, MEDIA INITIATIVES, AND LEARNING PROGRAMS THAT INSPIRE AND STRENGTHEN COMMUNITIES IN LOS ANGELES AND BEYOND. (CONTINUED IN SCHEDULE O) THE LOS ANGELES PHILHARMONIC ORCHESTRA IS THE FOUNDATION OF THE LA PHIL'S OFFERINGS, WHICH ALSO INCLUDE A MULTI-GENRE, MULTIDISCIPLINARY PRESENTING PROGRAM AND SUCH YOUTH DEVELOPMENT PROGRAMS AS YOLA (YOUTH ORCHESTRA LOS ANGELES). PERFORMANCES ARE OFFERED ON THREE HISTORIC STAGES--WALT DISNEY CONCERT HALL, THE HOLLYWOOD BOWL, AND THE FORD--AS WELL AS THROUGH A VARIETY OF MEDIA PLATFORMS. IN ALL ITS ENDEAVORS, THE LA PHIL SEEKS TO ENRICH THE LIVES OF INDIVIDUALS AND COMMUNITIES THROUGH MUSICAL, ARTISTIC, AND LEARNING EXPERIENCES THAT RESONATE IN OUR WORLD TODAY.

Program Service Accomplishments

Program 1

Expenses: $131,739,227 Revenue: $88,755,512

PERFORMANCES BY THE LOS ANGELES PHILHARMONIC ORCHESTRA AND ARTISTS REPRESENTING A WIDE VARIETY OF GENRES AT WALT DISNEY CONCERT HALL, THE HOLLYWOOD BOWL, AND THE FORD. THIS ITEM ALSO INCLUDES...

PERFORMANCES BY THE LOS ANGELES PHILHARMONIC ORCHESTRA AND ARTISTS REPRESENTING A WIDE VARIETY OF GENRES AT WALT DISNEY CONCERT HALL, THE HOLLYWOOD BOWL, AND THE FORD. THIS ITEM ALSO INCLUDES DOMESTIC AND INTERNATIONAL TOURS BY THE ORCHESTRA. THE FORD SUPPORTS CREATIVE ASPIRATIONS, ESPECIALLY DIVERSE PERFORMANCES THAT REPRESENT LOCAL SURROUNDING COMMUNITIES.

Program 2

Expenses: $10,929,896 Revenue: $303,700

THE AFTER-SCHOOL MUSIC EDUCATION PROGRAM YOUTH ORCHESTRA LOS ANGELES (YOLA). YOLA CURRENTLY SERVES MORE THAN 1,300 YOUNG MUSICIANS ACROSS FOUR SITES, PROVIDING THEM WITH FREE INSTRUMENTS, INTENSIVE MUSIC INSTRUCTION, ACADEMIC SUPPORT, LEADERSHIP TRAINING, AND PERFORMANCE OPPORTUNITIES.

Program 3

Expenses: $36,837,116 Revenue: $36,912,354

OTHER PERFORMANCES, INCLUDING LEASE EVENTS HOSTED BY THIRD-PARTY PROMOTERS, AND PERFORMANCE-RELATED ACTIVITIES, INCLUDING CONCESSIONS, PARKING, RECORDING, AND ROYALTIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $45,942,436

Program Service Revenue $149,512,022

Investment Income $23,660,615

Other Revenue $-2,424,546

TOTAL REVENUE $216,690,527

Expense Breakdown

Grants Paid $150,000

Salaries & Benefits $95,952,449

Fundraising Expenses $7,585,706

Program Expenses $179,506,239

Other Expenses $113,352,952

TOTAL EXPENSES $210,298,852

Year-over-Year Comparison

	2023	2022	Change
Revenue	$216,690,527	$208,062,332	+0.0%
Expenses	$210,298,852	$196,153,186	+0.1%
Net Income	$6,391,675	$11,909,146	-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

2722

Volunteers

500

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

$873,194

Total Directors

Key Employees

$6,923,889

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS BECKMEN	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
DAVID C BOHNETT	CHAIR, CAMP. & VICE CHAIR	1.00	Officer Director	$0	$0	$0
REVETA F BOWERS	CHAIR, PENSION & VICE CHAIR, EXEC	1.00	Director	$0	$0	$0
DONALD P DE BRIER	CHAIR, AUDIT	1.00	Director	$0	$0	$0
JONATHAN KAGAN	CHAIR, HOLLYWOOD BOWL	1.00	Director	$0	$0	$0
DAVID MELINE	CHAIR, CAMP. & VICE CHAIR	1.00	Officer Director	$0	$0	$0
JAY STEIN	CHAIR, PHILANTHROPY	1.00	Director	$0	$0	$0
CHRISTIAN STRACKE	CHAIR, MARKETING	1.00	Director	$0	$0	$0
JANE B EISNER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DIANE B PAUL	VICE-CHAIR, EXEC	1.00	Officer Director	$0	$0	$0
JAY RASULO	VICE-CHAIR, EXEC	1.00	Officer Director	$0	$0	$0
NANCY ABELL	DIRECTOR	1.00	Director	$0	$0	$0
GREGORY A ADAMS	DIRECTOR	1.00	Director	$0	$0	$0
JULIE ANDREWS	DIRECTOR	1.00	Director	$0	$0	$0
CAMILO ESTEBAN BECHDACH	DIRECTOR	1.00	Director	$0	$0	$0
LINDA P BRITTAN	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER BRODER	DIRECTOR	1.00	Director	$0	$0	$0
KAWANNA BROWN	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA CHAO-KHARMA	DIRECTOR	1.00	Director	$0	$0	$0
R MARTIN CHAVEZ	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTIAN CHIVAROLI	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN CONGDON	DIRECTOR (AS OF 09/23)	1.00	Director	$0	$0	$0
LOUISE D EDGERTON	DIRECTOR	1.00	Director	$0	$0	$0
LISA FIELD	DIRECTOR	1.00	Director	$0	$0	$0
DAVID A FORD	DIRECTOR	1.00	Director	$0	$0	$0
ALFRED FRAIJO JR	DIRECTOR (AS OF 06/24)	1.00	Director	$0	$0	$0
HILARY GARLAND	DIRECTOR (AS OF 09/23)	1.00	Director	$0	$0	$0
JENNIFER MILLER GOFF	DIRECTOR	1.00	Director	$0	$0	$0
TAMARA GOLIHEW	DIRECTOR (AS OF 09/23)	1.00	Director	$0	$0	$0
LENORE S GREENBERG	DIRECTOR	1.00	Director	$0	$0	$0
CAROL COLBURN GRIGOR	DIRECTOR	1.00	Director	$0	$0	$0
MARIAN HALL	DIRECTOR	1.00	Director	$0	$0	$0
SUZANNE HART	DIRECTOR (THRU 07/24)	1.00	Director	$0	$0	$0
ANTONIA HERNANDEZ	DIRECTOR	1.00	Director	$0	$0	$0
TEENA HOSTOVICH	DIRECTOR (THRU 09/24)	1.00	Director	$0	$0	$0
DARIOUSH KHALEDI	DIRECTOR	1.00	Director	$0	$0	$0
WINNIE KHO	DIRECTOR	1.00	Director	$0	$0	$0
MATT MCINTYRE	DIRECTOR (AS OF 07/24)	1.00	Director	$0	$0	$0
FRANCOIS MOBASSER	DIRECTOR	1.00	Director	$0	$0	$0
MARGARET MORGAN	DIRECTOR	1.00	Director	$0	$0	$0
LEITH O'LEARY	DIRECTOR	1.00	Director	$0	$0	$0
ANDY PARK	DIRECTOR	1.00	Director	$0	$0	$0
SANDY PRESSMAN	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD RAFFETTO	DIRECTOR (THRU 08/24)	1.00	Director	$0	$0	$0
GEOFFREY RICH	DIRECTOR	1.00	Director	$0	$0	$0
LAURA ROSENWALD	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD SCHIRTZER	DIRECTOR (AS OF 12/23)	1.00	Director	$0	$0	$0
GABRIELLE STARR	DIRECTOR	1.00	Director	$0	$0	$0
JASON SUBOTKY	DIRECTOR	1.00	Director	$0	$0	$0
DR RONALD D SUGAR	DIRECTOR	1.00	Director	$0	$0	$0
VIKKI SUNG	DIRECTOR	1.00	Director	$0	$0	$0
JACK SUZAR	DIRECTOR	1.00	Director	$0	$0	$0
KEITH TERASAKI	DIRECTOR (AS OF 09/23)	1.00	Director	$0	$0	$0
SUE TSAO	DIRECTOR	1.00	Director	$0	$0	$0
JON VEIN	DIRECTOR	1.00	Director	$0	$0	$0
MEGAN WATANABE	DIRECTOR	1.00	Director	$0	$0	$0
REGINA WEINGARTEN	DIRECTOR	1.00	Director	$0	$0	$0
JENNY WILLIAMS	DIRECTOR (AS OF 06/24)	1.00	Director	$0	$0	$0
ALYCE DE ROULET WILLIAMSON	DIRECTOR	1.00	Director	$0	$0	$0
IRWIN WINKLER	DIRECTOR	1.00	Director	$0	$0	$0
DEBRA WONG YANG	DIRECTOR	1.00	Director	$0	$0	$0
MONA PATEL	GEN. COUNSEL, SECRETARY	40.00	Officer	$424,943	$26,155	$451,098
GLENN BRIFFA	CFO	40.00	Officer	$420,000	$2,096	$422,096
KIM NOLTEMY	CEO (AS OF 07/24)	40.00	Officer	$0	$0	$0
DANIEL SONG	INTERIM CEO (THRU 7/24), COO	40.00	Key Emp	$601,268	$51,983	$653,251
GUSTAVO DUDAMEL	MUSIC & ARTISTIC DIRECTOR	40.00	Key Emp	$2,740,000	$43,661	$2,783,661
MARGIE KIM BERMEO	CHIEF PHILANTHROPY OFFICER	40.00	Key Emp	$470,752	$26,155	$496,907
NORA BRADY	CHIEF MKTG & COMS. OFFICER	40.00	Key Emp	$401,624	$49,858	$451,482
MEGHAN UMBER	CHIEF CONTENT OFFICER	40.00	Key Emp	$405,082	$37,955	$443,037
EMANUEL MAXWELL	CHIEF TALENT & EQUITY OFFICER	40.00	Key Emp	$369,935	$52,823	$422,758
SUMMER BJORK	CHIEF OF STAFF	40.00	Key Emp	$381,217	$31,290	$412,507
LAURA CONNELLY	GM HOLLYWOOD BOWL, VP PROD	40.00	Key Emp	$326,451	$39,629	$366,080
JOHANNA REES	VP, PRESENTATIONS	40.00	Key Emp	$312,041	$24,476	$336,517
ELSJE KIBLER-VERMAAS	VP LEARNING	40.00	Key Emp	$248,424	$37,707	$286,131
SARA KIM	VP OF PHILANTHROPY	40.00	Key Emp	$253,408	$18,150	$271,558
MARTIN CHALIFOUR	PRINCIPAL CONCERTMASTER	40.00	Highest	$556,896	$41,916	$598,812
THOMAS HOOTEN	STAFF MUSICIAN	40.00	Highest	$415,178	$53,453	$468,631
NATHAN COLE	STAFF MUSICIAN	40.00	Highest	$391,166	$53,453	$444,619
ANDREW BAIN	STAFF MUSICIAN	40.00	Highest	$377,491	$53,453	$430,944
ROBERT DEMAINE	STAFF MUSICIAN	40.00	Highest	$371,917	$53,453	$425,370
CHAD SMITH	FORMER CEO (THRU 08/23)	0.00		$995,467	$23,919	$1,019,386
RENAE WILLIAMS NILES	FMR. CHIEF CONTENT OFF. (THRU 08/23)	0.00		$228,264	$19,441	$247,705

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	$216,690,527	$210,298,852	$603,296,076	$6,391,675
2023	$208,062,331	$196,153,186	$531,402,786	$11,909,145
2022	$158,200,776	$180,019,533	$502,518,104	$-21,818,757
2021	$148,973,896	$105,289,785	$566,505,035	$43,684,111
2020	$89,931,631	$110,692,252	$484,797,959	$-20,760,621
2019	$187,166,290	$166,254,625	$414,000,405	$20,911,665
2018	$190,852,623	$159,075,164	$417,446,115	$31,777,459

LOS ANGELES PHILHARMONIC ASSOCIATION