THE PASADENA SYMPHONY ASSOCIATION

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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

1932

Legal Domicile

Principal Officer

CHRISTOPHER ANDREW BROWN

Phone

6267937172

Tax Period

2023-10-01 to 2024-09-30

THE PASADENA SYMPHONY ASSOCIATION, founded in 1932, is a community nonprofit in the Arts, Culture & Humanities sector that reported $5.1M in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year. Expenses of $6.8M exceeded revenue, resulting in a 33% operating deficit.

Mission

THE MISSION OF THE PASADENA SYMPHONY ASSOCIATION (PSA) IS TO PROVIDE MUSICAL CONCERTS OF THE HIGHEST QUALITY RANING FROM ORCHESTRAL PERFORMANCES TO WORLD-RENOWNED ARTISTS IN RECITAL, AND TO PROVIDE THE BROADEST ACCESS TO YOUTH EDUCATION PROGRAMS AND THE PERFORMING ARTS THROUGH COMMUNITY ENGAGEMENT AND DIGITAL INNOVATION. IN THE BELIEF THAT MUSIC ENRICHES AND TRANSFORMS THE INDIVIDUAL AND THE COMMUNITY, THE PASADENA SYMPHONY ASSOCIATION SERVCES AS A CURATOR OF CLASSICAL, POPULAR AND NEW MUSIC WITH AN UNWAVERING PURSUIT OF EXCELLENCE AND INCLUSION.

Program Service Accomplishments

Program 1

Expenses: $1,619,295 Revenue: $682,135

FOUNDED IN 1928, THE PASADENA SYMPHONY HAS BEEN PRESENTING MAJOR ORCHESTRAL WORKS FOR GREATER PASADEANA AREA AUDIENCES FOR NEARLY A CENTURY. THE PASADENA SYMPHONY CURRENTLY PRESENTS A SIX-CONCERT...

FOUNDED IN 1928, THE PASADENA SYMPHONY HAS BEEN PRESENTING MAJOR ORCHESTRAL WORKS FOR GREATER PASADEANA AREA AUDIENCES FOR NEARLY A CENTURY. THE PASADENA SYMPHONY CURRENTLY PRESENTS A SIX-CONCERT SERIES FREQUENTLY PAIRING CLASSICAL FAVORITES WITH NEW WORKS AT THE HISTORIC AMBASSADOR AUDITORIUM IN PASADENA.

Program 2

Expenses: $2,653,518 Revenue: $1,597,396

PASADENA POPS - IN THE LUSH OUTDOOR SETTING OF THE LOS ANGELES ARBORETUM, THE PASADENA POPS ORCHESTRA PRESENTS SIX SUMMER CONCERTS FEATURING A RANGE OF POPULAR ORCHESTRAL PROGRAMMING CELEBRATING THE MUSIC OF THE GREAT AMERICAN SONGBOOK, BROADWAY, AND FILM, LED BY MULTI-PLATINUM SELLING, TWO-TIME EMMY AND FIVE-TIME GRAMMY AWARD-NOMINATED CONDUCTOR MICHAEL FEINSTEIN.

Program 3

Expenses: $902,924 Revenue: $476,013

SINCE 1972, THE PASADENA YOUTH SYMPHONY ORCHESTRA (PYSO) HAS CONTINUALLY OFFERED ROBUST MUSICAL TRAINING AND PERSONAL DEVELOPMENT FOR YOUNG MUSICIANS THROUGHOUT THE SAN GABRIEL VALLEY. PYSO FOSTERS DEDICATION, EXCELLENCE, FELLOWSHIP, AND PASSION IN THE DEVELOPMENT OF THOSE WHO ARE NOT ONLY OUTSTANDING YOUNG MUSICIANS, BUT OUTSTANDING YOUNG INDIVIDUALS. MORE THAN 700 STUDENTS PARTICIPATE IN PYSO FROM MORE THAN 80 DIFFERENT SCHOOLS THROUGHOUT LOS ANGELES COUNTY. PYSO MANAGES 7 CHALLENGING AND RIGOROUS ENSEMBLES THAT SERVE STUDENTS IN GRADES 4-12 ACROSS THE REGION, AND 4 AFTER-SCHOOL ORCHESTRAS SERVING 4 ELEMENTARY SCHOOLS IN THE PASADENA UNIFIED SCHOOL DISTRICT.

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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 $1,235,628

Program Service Revenue $2,884,193

Investment Income $561,707

Other Revenue $430,233

TOTAL REVENUE $5,111,761

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,430,127

Fundraising Expenses $676,594

Program Expenses $5,902,862

Other Expenses $4,381,347

TOTAL EXPENSES $6,811,474

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,111,761	$5,397,923	-0.1%
Expenses	$6,811,474	$5,836,538	+0.2%
Net Income	$-1,699,713	$-438,615	+2.9%

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

317

Volunteers

138

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

$181,730

Total Directors