Academy of Music of Philadelphia Inc

Nonprofit profile at a glance

EIN
231501159
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Philadelphia, PA, USA
Phone
2158931900
Rating
40
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$2,919,401
Expenses
$3,509,654
Assets
$25,022,220
Liabilities
$340,256

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • MATIAS TARNOPOLSKY - BOARD (MEMBER (PRESIDENT-POKC)(THRU 12/24))
  • RYAN FLEUR - BOARD (MEMBER (PRESIDENT-POKC)(AS OF 04/25))

Highest reported compensation

  • MATIAS TARNOPOLSKY - BOARD (MEMBER (PRESIDENT-POKC)(THRU 12/24)): $1,225,614 total reported compensation
  • RYAN FLEUR - BOARD (MEMBER (PRESIDENT-POKC)(AS OF 04/25)): $551,140 total reported compensation
  • MARIO MESTICHELLI (BOARD MEMBER/TREASURER (CFO-POKC)): $420,406 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The academy's primary exempt purpose is to raise funds through the restoration and preservation fund to restore and maintain the 168-year-old academy of music, the oldest known continuously operating opera house in the united states.

What it reported doing in 2024

The organization's primary program service activity is to raise funds for the restoration of the academy of music building through special events and a capital campaign program. Combined proceeds are used to fund numerous restoration projects as approved by the academy board. The academy of music building has been designated as a national historic landmark and therefore its upkeep and maintenance is the organization's primary concern. For the year ended august 31, 2025, the restoration projects included sound system replacement, elevator modernization, and lavatory & box office renovations. (continued in schedule o).(continued): these program service activity expenditures are reported as part of fixed assets in schedule d, part vi.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Affiliate network. The nonprofit sent 100% of its reported program spending through affiliated organizations.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - Most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 13
  • Transparency & Controls: 48
  • Accountability: 79
  • Sustainability: 45
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 8.9%; rating input score 9
  • Program expense ratio: 6.7%; rating input score 7
  • Fundraising efficiency: $14.05 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 86.7%; rating input score 87; 18th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -20.2%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 7.13; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 5.5%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: -0.5% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: -4% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 8.9% of revenue deployed · 6.7% of spending went to programs
  • Governance: 13 of 15 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $234K in reported program spending
  • Leadership: top reported pay $1.2M · 16 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $2.4M reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 4 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 9/100.
  • High — Financial Efficiency: Program expense ratio scored 7/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 49/100.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.