Academy of Music of Philadelphia Inc.
Academy of Music of Philadelphia Inc.
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More about this organization
Mission
To raise funds through the restoration and preservation fund to restore and maintain the 161 year old Academy of Music, the oldest known continuously used opera house in the U.S.
About
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 from the annual anniversary concert and ball and the annual giving campaign 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 ending August 31, 2018, the restoration projects included various repairs to the faade and steps of the building in addition to electrical repairs and replacement of the cooling tower. These program service activity expenditures are capitalized and reported as part of the fixed assets' basis in Schedule D, Part VI.
Interesting data from their 2019 990 filing
The filing reveals the mission of the non-profit as “The academy's primary exempt purpose is to raise funds through the restoration and preservation fund to restore and maintain the 161- year-old academy of music, the oldest known continuously operating opera house in the united states.”.
When detailing its functions, they were listed as: “To raise funds through the restoration and preservation fund to restore and maintain the 161 year old academy of music, the oldest known continuously used opera house in the u.s.”.
- According to the law, the state where the non-profit operates has been reported as DE.
- The filing specifies that the non-profit's address in 2019 was One South Broad St 14th Fl, Philadelphia, PA, 19107.
- As of 2019, the non-profit's form shows they have a total of 0 employees.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Does not provide credit counseling.
- Does not have foreign activities.
- Is not a donor-advised fund.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $71,561.
- The remuneration plan for the CEO of the organization is not based on a review and endorsement process by an independent body.
- The organization elects its board members.
- The organization has a written policy that describes how long it will retain documents.
- The organization has 13 independent voting members.
- The organization was formed in 1956.
- The organization has a written policy that addresses conflicts of interest.
- The organization is required to file Schedule B.
- The organization is required to file Schedule J.
- The organization is required to file Schedule O.
- The organization pays $422,057 in salary, compensation, and benefits to its employees.
- The organization pays $214,494 in fundraising expenses.
- The organization has minutes of its meetings.
- The organization has a written whistleblower policy.
- The organization has fundraising events.
- The organization's financial statements were reviewed by an accountant.