The Carnegie Hall Corporation

Overview

Mission

Carnegie hall's mission is to present extraordinary music and musicians on the three stages of this legendary hall, to bring the transformative power of music to the widest possible audience, please see schedule o for more information.

What it reported doing in 2024

Carnegie hall produced events: of the 213 events that carnegie hall produced in fy25, 42% were held in stern auditorium/perelman stage, 13% in weill recital hall, 26% in zankel hall; and 19% in the hall's resnick education wing. Presentations ranged from orchestral, chamber music, solo recitals, and choral performances to jazz, world, and popular music concerts along with family events and public masterclasses. Beyond the hall's four walls, continuing a five-decade tradition of bringing free performances to neighborhoods across New York city, the carnegie hall citywide series included 32 free performances in fy25, presented in partnership with esteemed community organizations.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
131923626
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Headquarters
New York, NY, USA
Phone
2129039600
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Performing Arts Centers

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 78
  • Accountability: 99
  • Sustainability: 34
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.7%; rating input score 94
  • Program expense ratio: 72.8%; rating input score 73
  • Fundraising efficiency: $5.77 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 95.2%; rating input score 95; 35th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 98.2%; rating input score 98; 53rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -22.6%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 5.31; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 8.2%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 0.8% per year; rating input score 100; 10th percentile among comparable filings
  • Revenue growth: -1.1% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 93.7% of revenue deployed · 72.8% of spending went to programs
  • Governance: 54 of 55 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $90.9M in reported program spending
  • Leadership: top reported pay $2.3M · 74 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $24.4M reported
  • Consistency: 44 of 45 current checks pass · 1 finding to review
  • Schedules: 12 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 16 annual filings from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 38 filed money-flow records
  • Related organizations: 23 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

74 people listed

Highest reported compensation

  • CLIVE D GILLINSON (EXECUTIVE & ARTISTIC DIRECTOR): $2,331,959 total reported compensation
  • ANNA WEBER (GEN MGR ARTISTIC & OPERATIONS): $766,927 total reported compensation
  • RICHARD MALENKA (CHIEF ADMINISTRATIVE OFFICER): $685,331 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.