Peninsula Music Festival Inc

What it reported doing in 2024

The peninsula music festival, inc. (pmf) finances and produces world-class performances realized through the presentation of the recital series, a chamber music series, and the symphony series in door county, wi. Pmf presents broad repertoire, promotes young artists, and the appreciation of great music. Pmf was founded in 1953 by lorenz heise, kay wilson, and thor johnson who was inspired by the early moravian music festival. Currently in its 73rd season, the 90-member festival orchestra is comprised of professional musicians who represent leading symphonic and operatic institutions around the world, including those of montreal, toronto, boston, houston, st. Louis, milwaukee, omaha, pittsburgh, houston grand opera, the dallas opera and lyric opera of chicago. The festival presents a nine-concert symphony series every august, with year-round programming that includes recital series concerts, chamber music performances, and special concert events that feature members of the festival orchestra and other renowned artists. Each symphony series concert features a guest artist of national or international stature, and the festival orchestra is the only professional orchestra in northeast Wisconsin. Over 6,000 patrons attend the nine-concert symphony series every summer. In the last 30 years, the operating budget has grown substantially, and the endowment has grown from $450,000 to $6.5 million over the last 20 years. The conservative strategy set by the trustees focuses long-term stability rather than quick growth, which as a strategy has been very successful. Pmf prides itself on the high artistic quality of the orchestra and continuing to operate with low administrative overhead. The endowment has continued to grow through strong, stable investments and additional contributions. Pmf awards college scholarships each year and numerous summer music study grants to encourage music students to attend summer camps and study privately. This was the tenth year of the festival's $10 student/children ticket program. Pmf's year-round programming helps to elevate the festival's brand, increase visibility, and remain relevant to those on the peninsula and beyond. The emerging conductor program provides well-rounded training and exposure to aspiring conductors with a professional symphony orchestra and continues as part of the festival's educational outreach activities.the pmf sustaining committee (pmf's volunteer society) continues to serve as the backbone of the organization. Volunteers provide thousands of hours of service to the organization by picking up guest artists from the airport, chauffeuring to/from engagement related activities/rehearsals and performances, providing food for musicians, and working as ushers and parking attendants for the concerts. For evaluation purposes, the pmf currently uses a three-phase evaluation system set forth by the league of american orchestras. The components include: administrative - organizational structure, board, staff and volunteers as well as marketing and development; financial - planning and reporting; and artistic - repertoire, operations and professional development. Pmf continues to achieve its goals and fulfill its mission thanks to a strong board of directors, a well-trained administrative staff, and a great core of volunteers. This trio has provided the financial resources for the pmf to grow where it counts - in the quality of its artistic product and its outreach to the people in the community that it serves.

Financial Efficiency

• Mission deployment rate: 87%; rating input score 87
• Program expense ratio: 84.8%; rating input score 85
• Fundraising efficiency: $15.41 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd 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: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 63rd 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: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -2.6%; rating input score 29; 29th percentile among comparable filings
• Total-asset coverage ratio: 0.36; rating input score 17; 17th percentile among comparable filings
• Liabilities to assets ratio: 0.64; rating input score 12; 12th percentile among comparable filings
• Officer compensation ratio: 6.2%; rating input score 49; 49th percentile among comparable filings

Growth

• Program expense growth: 2.6% per year; rating input score 100; 30th percentile among comparable filings
• Revenue growth: 0.8% per year; rating input score 100; 18th percentile among comparable filings
• Asset growth: 8.2% per year; rating input score 100; 52nd percentile among comparable filings