Spartanburg Philharmonic

Nonprofit profile at a glance

EIN
570485556
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Spartanburg, SC, USA
Phone
8649489020
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,075,663
Expenses
$1,036,413
Assets
$778,676
Liabilities
$804

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

Leadership & pay

30 people listed

Executive titles in this filing

  • CABE LORING (PRESIDENT)

Highest reported compensation

  • KATHRYN BOUCHER (EXECUTIVE DI): $89,202 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 spartanburg philharmonic's mission is to enrich, inspire, and educate the spartanburg community through live performances of high quality music.

What it reported doing in 2024

The spartanburg philharmonic partners with carnegie hall to provide yearlong music curriculum to approximately 4,300 spartanburg county elementary students. For the students, the culmination of the yearlong curriculum is performing in a participatory concert with our in twichell auditorium. The spartanburg philharmonic provides free live music to the community through our partnership with the spartanburg library for our "music sandwiched in" series. Additional educational opportunities include our youth orchestras and the spartanburg music trail.

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 - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70%; rating input score 70
  • Program expense ratio: 72.6%; rating input score 73
  • Fundraising efficiency: $5.83 raised per $1 spent on fundraising; rating input score 22; 22nd 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.6%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 0.75; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 8.6%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 9.5% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 8.3% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 8.6% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 70% of revenue deployed · 72.6% of spending went to programs
  • Governance: 29 of 29 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $753K in reported program spending
  • Leadership: top reported pay $89K · 30 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2015 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 22/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 46/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.