Encore Series Inc

Nonprofit profile at a glance

EIN
232996689
IRS 990 coverage
2011–2021
Forms available
Form 990 2021
Location
Philadelphia, PA, USA
Phone
2158931900
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Centers

Official website

Reported finances

Revenue
$7,440,930
Expenses
$6,657,493
Assets
$786,076
Liabilities
$3,281,175

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

33 people listed

Executive titles in this filing

  • FRANK GIORDANO (PRESIDENT (THRU FEB 2023))
  • KAREN CORBIN (COO (PRESIDENT & CEO EFF 3/23))

Highest reported compensation

  • KAREN CORBIN (COO (PRESIDENT & CEO EFF 3/23)): $120,498 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Encore series inc. Is the presenter of the philly pops, a non-profit orchestra dedicated to both large and smaller scale performances that feature american popular music often presented on holidays of american tradition. In addition, the philly pops presents popsinschools, a partnership in the main with the school district of phialdelphia, which provides supplemental music education on location at schools and community centers in the philadelphia area.

What it reported doing in 2021

The 21/22 season, fy22, saw the pops orchestra return to its subscription series and christmas series following the pandemic. The pops performed thirty times at its longtime home, the kimmel center, as compared to none in fy21. Supported by contributed revenue, the pops also performed its salute series, dedicated to honoring the service community, with three large scale salute concerts free to help first responder audiences to celebrate memorial day, independence week and christmas, as well as a smaller set of activities for veterans' day. Popsinschools returned to the classroom after a pandemic year and a half as a digital offering.

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 100% 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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 87
  • Accountability: 92
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.3%; rating input score 69
  • Program expense ratio: 77.5%; rating input score 78
  • Fundraising efficiency: $8.54 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.9%; rating input score 94; 23rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.5%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 4.17; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 77; 77th percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 9.8% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 69.3% of revenue deployed · 77.5% of spending went to programs
  • Governance: 31 of 33 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $5.2M in reported program spending
  • Leadership: top reported pay $120K · 33 people listed
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors
  • Filing history: 11 filing years from 2011 to 2021
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Fundraising efficiency scored 27/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.