2024-10-15T16:40:46-05:00 2023-05-31 141918990 TEMPLETON & COMPANY LLP 222 LAKEVIEW AVENUE SUITE 1200 WEST PALM BEACH FL 33401 990 2022-06-01 591542539 THE PALM BEACH SYMPHONY SOCIETY INC PALM 5616552657 700 SOUTH DIXIE HIGHWAY 100 WEST PALM BEACH FL 33401 MR JAMES BORYNACK CHAIR 5616552657 2024-10-15 1 0 WALT MAXWELL P00186333 5617989988 2024-08-07 2022 2024-10-15 13:58:12Z X MR JAMES BORYNACK 165 WORTH AVENUE PALM BEACH FL 33480 4142192 0 X HTTP://PALMBEACHSYMPHONY.COM X 1974 FL TO EDUCATE AND NURTURE THE LOCAL COMMUNITY IN CLASSICAL SYMPHONIC MUSIC. 14 14 13 35 0 0 2979450 2777106 300773 617936 -155026 126136 89978 -66804 3215175 3454374 0 0 0 0 728652 1002885 0 0 317722 2143941 2751144 2872593 3754029 342582 -299655 3120506 2728286 418248 462062 2702258 2266224 X TO EDUCATE AND TO NUTURE THE LOCAL COMMUNITY IN CLASSICAL SYMPHONIC MUSIC THROUGH THE UTILIZATION OF ITS SYMPHONIC ORCHESTRA. 0 0 2558572 617936 PALM BEACH SYMPHONY CONTINUES ITS STRONG MOMENTUM OF GROWTH UNDER THE LEADERSHIP OF CEO DAVID MCCLYMONT. MUSIC DIRECTOR GERARD SCHWARZ LED SPIRITED PERFORMANCES OF 6 MASTERWORKS CONCERTS WITH AN ORCHESTRA THAT REACHES 90 PLAYERS, THE MARK OF A MAJOR SYMPHONY ORCHESTRA. DURING THE 2022-2023 SEASON, THE SYMPHONY SAW A 21% INCREASE IN MEMBERSHIPS AND SUBSCRIPTIONS, 48% INCREASE IN INSTRUMENT DONATIONS AND THE HIGHEST ATTENDANCE IN ALL FUNDRAISING EVENTS. PALM BEACH SYMPHONY ALSO CONTINUES TO EXPAND ITS EDUCATION AND COMMUNITY OUTREACH PROGRAMS. CHILDREN'S CONCERTS, STUDENT COACHING SESSIONS AND MASTERCLASSES, INSTRUMENT DONATIONS, AND FREE PUBLIC CONCERTS HAVE REACHED MORE THAN 60,000 STUDENTS IN RECENT YEARS. THE INSTRUMENT DONATION PROGRAM HAS NEARLY IMPACTED 8,600 STUDENTS, PROVIDED MORE THAN 280 INSTRUCTIONAL HOURS AND 95 COACHING SESSIONS AND ENGAGED WITH 137 CLASSES OF STUDENTS. 2558572 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 41 0 1 13 1 0 0 0 0 0 1 1 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 1 0 0 X MR JAMES BORYNACK 5616552090 165 WORTH AVENUE PALM BEACH FL 33480 MR JAMES BORYNACK CHAIR 30.00 X X 0 0 0 MR RICHARD BREKUS VICE CHAIR 10.00 X X 0 0 0 MR MANLEY THALER SECRETARY 10.00 X X 0 0 0 MR JOHN D HERRICK TREASURER 10.00 X X 0 0 0 MR DAVID MCCLYMONT EXECUTIVE DIRECTOR 40.00 X 344039 0 0 MR DON THOMPSON DIRECTOR 10.00 X 0 0 0 MR PAUL GOLDNER DIRECTOR 10.00 X 0 0 0 MS KAREN ROGERS DIRECTOR 10.00 X 0 0 0 MR GARY LACHMAN DIRECTOR 10.00 X 0 0 0 MS CAROL HAYS DIRECTOR 10.00 X 0 0 0 MR TODD DAHLSTROM DIRECTOR 10.00 X 0 0 0 MS LAURIE BAY DIRECTOR 10.00 X 0 0 0 MS CATHLEEN BLACK DIRECTOR 10.00 X 0 0 0 MS MARIETTA M MCNULTY DIRECTOR 10.00 X 0 0 0 MR GERARD SCHWARZ MAESTRO 40.00 X 222846 0 0 MS OLGA VAZQUEZ DIRECTOR OF ARTISTIC OPERATIONS 40.00 X 120837 0 0 687722 0 0 3 0 1 0 MIAMI SYMPHONIC ENTERTAINMENT INC 7340 EDISTO DRIVE LAKE WORTH FL 33467 CONTRACTED MUSICIANS 802736 MR GERARD SCHWARZ 4415 MONSERRAT STREET CORAL GABLES FL 33146 MAESTRO 222846 LESSINGS HOSPITALITY GROUP 3500 SUNRISE HIGHWAY SUITE 100 GREAT RIVER NY 11739 HOSPITALITY/CATERING 118655 CON BRIO ENSEMBLES LLC 2339 SW 15TH ST 23 DEERFIELD BEACH FL 33442 CONTRACTED MUSICIANS 116872 4 62950 587514 2126642 2777106 TICKET SALES 711130 396291 396291 OUTREACH CONCERTS 711130 221645 221645 617936 47892 47892 78244 0 78244 78244 78244 587514 587514 687818 -100304 -100304 ADVERTISING 541800 33500 33500 33500 3454374 617936 0 59332 464876 172443 258029 34404 409900 122155 240539 47206 77444 23079 45446 8919 50665 15099 29731 5835 5563 2317 1737 1509 41163 41163 112733 1550 75760 35423 99850 48175 22543 29132 232686 212079 6754 13853 62756 61699 -7173 8230 ORCHESTRA & ARTIST FEES 1174966 1154300 5141 15525 CONTRACTED SERVICES 363269 337184 1883 24202 EDUCATION 258748 253363 5000 385 PROMOTION AND MARKETING 245161 68630 127596 48935 154249 86499 23586 44164 3754029 2558572 877735 317722 419043 240632 50589 1000 47075 163512 276264 7245 12839 12839 0 0 2267497 2254992 60038 60905 3120506 2728286 263751 221458 154497 240604 418248 462062 X 2463393 2146491 238865 119733 2702258 2266224 3120506 2728286 -299655 -136379 0 X X 0 1 X 1 0 X 1710961 1737559 1766349 2979450 2777106 10971425 1710961 1737559 1766349 2979450 2777106 10971425 1780129 9191296 16200 23026 33146 48123 47892 168387 11139812 0.82510 0.81900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12839 12839 0 0 X 3334365 -136379 16370 -120009 3454374 0 3454374 4458217 16370 687818 704188 3754029 0 3754029 PART X, LINE 2: THE SYMPHONY IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AS A CHARITABLE ORGANIZATION WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 509(A)(1) OF THE IRC, IS SUBJECT TO FEDERAL INCOME TAX. THE SYMPHONY HAS NO UNRELATED BUSINESS INCOME FOR THE YEARS ENDED MAY 31, 2023 AND 2022. THE SYMPHONY EVALUATES ITS UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH FASB ASC 740, INCOME TAXES, WHICH STATES THAT MANAGEMENT'S DETERMINATION OF THE TAXABLE STATUS OF AN ENTITY, INCLUDING ITS STATUS AS A TAX-EXEMPT NOT-FOR-PROFIT ENTITY, IS A TAX POSITION SUBJECT TO THE STANDARDS REQUIRED FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT DOES NOT BELIEVE THAT THE SYMPHONY HAS ANY SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE MATERIAL TO THE FINANCIAL STATEMENTS. THE SYMPHONY'S TAX RETURNS FOR TAX YEARS PRIOR TO 2020 ARE NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 687,818. FORM 990, SCHEDULE D, PARTS XI AND XII THE FINANCIAL INFORMATION USED TO PREPARE THE ORIGINAL FORM 990 AND ACCOMPANYING SCHEDULES WAS UNAUDITED AT THE TIME OF FILING. ACCORDINGLY, WE ARE AMENDING THE RETURN TO DESCRIBE ANY DIFFERENCES BETWEEN THE FINANCIAL INFORMATION ORIGINALLY FILED AND THAT WHICH IS BEING REPORTED ON THE AMENDED FILING, REFLECTING THE ISSUED AUDITED FINANCIAL STATEMENTS. ANNUAL GALA 615320 307660 307660 234085 313302 LADIES LUNCHEON 202946 101473 101473 81942 3 356762 178381 178381 12018 46471 1175028 587514 587514 246103 441715 687818 -100304 X 0 0 0 0 0 0 0 0 0 MR DAVID MCCLYMONT EXECUTIVE DIRECTOR 344039 0 0 0 0 0 0 0 0 0 344039 0 0 0 MR GERARD SCHWARZ MAESTRO 222846 0 0 0 0 0 0 0 0 0 222846 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED IN THE OFFICE BY THE BOARD MEMBERS PRIOR TO THE RETURN BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE MEETS AT THE END OF THE YEAR TO REVIEW THE PAST YEARS FINANCIAL OVERVIEW TO DETERMINE THE EXECUTIVE DIRECTORS SALARY AND COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS FROM THE ORGANIZATION ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: NO CHANGE. AMENDED RETURN: THIS AMENDED TAX RETURN FOR THE FISCAL YEAR ENDING 05/31/2023, FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, INCLUDES AMENDMENTS TO CERTAIN ITEMS REPORTED ON THE ORIGINAL FILING. EACH AMENDED ITEM IS IDENTIFIED BY ITS CORRESPONDING PART AND LINE NUMBER, THE ORIGINAL AMOUNT REPORTED, THE AMENDED AMOUNT, AND A DESCRIPTION OF THE AMENDMENT. THE FINANCIAL INFORMATION USED TO PREPARE THE ORIGINAL FORM 990 AND ACCOMPANYING SCHEDULES WAS UNAUDITED AT THE TIME OF FILING. ACCORDINGLY, WE ARE AMENDING THE RETURN TO DESCRIBE ANY DIFFERENCES BETWEEN THE FINANCIAL INFORMATION ORIGINALLY FILED AND THAT WHICH IS BEING REPORTED ON THE AMENDED FILING, REFLECTING THE ISSUED AUDITED FINANCIAL STATEMENTS. FORM 990, PAGE 1, LINE C: ORIGINAL ADDRESS: 400 HIBISCUS STREET, STE. 100, WEST PALM BEACH, FL 33401 AMENDED ADDRESS: 700 SOUTH DIXIE HIGHWAY, STE. 100, WEST PALM BEACH, FL 33401 DESCRIPTION OF AMENDMENT: TO PROVIDE CORRECT PHYSICAL ADDRESS FOR THE PALM BEACH SYMPHONY SOCIETY, INC. FORM 990, PAGE 1, LINE C: ORIGINAL ADDRESS: 312 CHERRY LANE, PALM BEACH, FL 33480 AMENDED ADDRESS: 165 WORTH AVENUE, PALM BEACH, FL 33480 DESCRIPTION OF AMENDMENT: TO PROVIDE CORRECT PHYSICAL ADDRESS OF PRINCIPAL OFFICER. FORM 990, PART I, LINE 12: ORIGINAL AMOUNT: $3,556,955 AMENDED AMOUNT: $3,470,744 DESCRIPTION OF AMENDMENT: TO RECONCILE TO ISSUED AUDITED FINANCIAL STATEMENTS. FORM 990, PART I, LINE 21: ORIGINAL AMOUNT: $375,851 AMENDED AMOUNT: $462,062 DESCRIPTION OF AMENDMENT: TO RECONCILE TO ISSUED AUDITED FINANCIAL STATEMENTS. FORM 990, PART I, LINE 22: ORIGINAL AMOUNT: $2,352,435 AMENDED AMOUNT: $2,266,224 DESCRIPTION OF AMENDMENT: TO RECONCILE TO ISSUED AUDITED FINANCIAL STATEMENTS. FORM 990, PART VIII, LINE 1F: ORIGINAL AMOUNT: $2,208,593 AMENDED AMOUNT: $2,143,012 DESCRIPTION OF AMENDMENT: TO RECONCILE TO ISSUED AUDITED FINANCIAL STATEMENTS. FORM 990, PART VIII, LINE 2A: ORIGINAL AMOUNT: $416,921 AMENDED AMOUNT: $396,291 DESCRIPTION OF AMENDMENT: TO RECONCILE TO ISSUED AUDITED FINANCIAL STATEMENTS. FORM 990, PART X, LINE 19: ORIGINAL AMOUNT: $154,393 AMENDED AMOUNT: $240,604 DESCRIPTION OF AMENDMENT: TO RECONCILE TO ISSUED AUDITED FINANCIAL STATEMENTS. FORM 990, PART X, LINE 27: ORIGINAL AMOUNT: $2,304,528 AMENDED AMOUNT: $2,146,491 DESCRIPTION OF AMENDMENT: TO RECONCILE TO ISSUED AUDITED FINANCIAL STATEMENTS. FORM 990, PART X, LINE 28: ORIGINAL AMOUNT: $47,907 AMENDED AMOUNT: $119,733 DESCRIPTION OF AMENDMENT: TO RECONCILE TO ISSUED AUDITED FINANCIAL STATEMENTS. WE APPRECIATE YOUR ATTENTION TO THESE AMENDMENTS AND ARE AVAILABLE TO PROVIDE ANY FURTHER CLARIFICATION, AS NECESSARY.