Plano Symphony Orchestra Association

Nonprofit profile at a glance

EIN
751929103
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Plano, TX, USA
Phone
9724737262
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Symphony Orchestras

Official website

Reported finances

Revenue
$2,838,501
Expenses
$2,480,283
Assets
$2,467,606
Liabilities
$1,044,442

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

Leadership & pay

36 people listed

Executive titles in this filing

  • HOBBS ALICE (EXECUTIVE DIRECTOR EMERITUS)
  • PATTERSON GREGORY (PRESIDENT/CEO)

Highest reported compensation

  • PATTERSON GREGORY (PRESIDENT/CEO): $110,226 total reported compensation

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

Overview

Mission

It is the mission of our orchestra to inspire, educate, entertain and involve the children, youth and adults of our community in the enjoyment of great music. The pso's education vision is to ensure that music is available to as many people as possible regardless of age, race, ethnicity, or socio-economic status.

What it reported doing in 2024

The plano symphony presents over 200 concerts and events each year to an annual audience of over 100,000. The 2024/2025 season included: subscription series of 8 concerts, september thru april, all made available through a hybrid presentation of in-person and live streaming; family concert series of 8 concerts across 4 different cities; school concert education program presented 13 performances, reaching 18,000 area 3rd-5th graders; all schools received a musician visit (150+ in total). Other events were held for awareness, donor cultivation and appreciation, and marketing purposes.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. 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: 65
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.9%; rating input score 67
  • Program expense ratio: 76.3%; rating input score 76
  • Fundraising efficiency: $6.91 raised per $1 spent on fundraising; rating input score 26; 26th 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: Limited

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: 12.6%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 0.99; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 3.2% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 66.9% of revenue deployed · 76.3% of spending went to programs
  • Governance: 29 of 29 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $110K · 36 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 26/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.