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Form 990 FY 2019

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Form 990 FY 2019 E-file Status Page 1 of 1 Cumulative E-File History 2018 Federal Locator: 14344X Taxpayer Name: Academy Of Music Of Philadelphia, Inc. Return Type: 990, 990 Submitted Date 7/10/2020 3:13:41 PM Acknowledgement 7/10/2020 3:26:12 PM Date Status Accepted Submission ID 23695320201925000050 Print Close https://gosystemrs.fasttax.com/GoSystemRSReport.Web/Modal//ElfCumulativeHistory.as ... 7/ 10/ 2020 Return of Organization Exempt From Income Tax OMÀB N¾o. µ1545¼-0047 Form 990 Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations) I Do not enter Social Security numbers on this form as it may be made public. Open to Public Department of the Treasury I Internal Revenue Service Information about Form 990 and its instructions is at www.irs.gov/form990. Inspection A For the 2018 calendar year, or tax year beginning 09/01 , 2018, and ending 08/31 , 20 19 C Name of organization D Employer identification number B Check if applicable: ACADEMY OF MUSIC OF PHILADELPHIA, INC. Address change Doing Business As 23-1501159 Name change Number and street (or P.O. box if mail is not delivered to street address) Room/suite E Telephone number Initial return ONE SOUTH BROAD STREET, 14TH FLOOR (215) 893-1900 Terminated City or town, state or province, country, and ZIP or foreign postal code Amended PHILADELPHIA, PA 19107 G Gross receipts $ 3,327,709. return Application F Name and address of principal officer: MATIAS TARNOPOLSKY H(a) Is this a group return for Yes X No pending subordinates? ONE SOUTH BROAD STREET, 14THJ FLOOR, PHILADELPHIA, PA H(b) Are all subordinates included? Yes No I Tax-exempIt status: X 501(c)(3) 501(c) ( ) (insert no.) 4947(a)(1) or 527 If "No," attach a list. (see insItructions) J Website: HTTPS://WWW.ACADEMYOFMUSIC.ORG/ I H(c) Group exemption number K Form of organization: X Corporation Trust Association Other L Year of formation: 1956 M State of legal domicile: DE Part I Summary 1 Briefly describe the organization's mission or most significant activities: TO RAISE FUNDS THROUGH THE RESTORATION e AND PRESERVATION FUND TO RESTORE AND MAINTAIN THE 162 YEAR OLD ACADEMY c n a OF MUSIC, THE OLDEST KNOWN CONTINUOUSLY USED OPERA HOUSE IN THE U.S. n r I e 2 Check this box if the organization discontinued its operations or disposed of more than 25% of its net assets. v o m m m m m m m m m m m m m m m m m m m m m m m 16. G 3 Number of voting members of the governing body (Part VI, line 1a) 3 & m m m m m m m m m m m m m m m m m 4 Number of independent voting members of the governing body (Part VI, line 1b) 4 13. s e m m m m m m m m m m m m m m m m m m m i t 5 Total number of individuals employed in calendar year 2018 (Part V, line 2a) 5 0. i v i m m m m m m m m m m m m m m m m m m m m m m m m m m m m m m m t 6 Total number of volunteers (estimate if necessary) 6 170. c m m m m m m m m m m m m m m m m m m m m m m m A 7a Total unrelated business revenue from Part VIII, column (C), line 12m m m m m m m m m m m m m m m m m m m m m m m m 7a 0. b Net unrelated business taxable income from Form 990-T, line 34 7b 0. m m m m m m m m m m m m m Prior Year Current Year 8 Contributions and grants (Part VIII, line 1h) 4,716,698. 2,696,163. e u m m m m m m m m m m m m m COPY FOR n 9 Program service revenue (Part VIII, line 2g) 396,708. 371,122. e v m m m m m PUBLIC INSPECTION e 10 Investment income (Part VIII, column (A), lines 3, 4, and 7d) 65. 0. R m m m m m m m m m m m m 11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) m m m m m m m -1,609,624. -1,763,951. 12 Total revenue - add lines 8 through 11 (must equal Part VIII, colum mmn m(Am), mlinme m12m ) m m m m m m m 3,503,847. 1,303,334. 13 Grants and similar amounts paid (Part IX, column (A), lines 1m-3m) m m m m m m m m m m m m m m m 0. 0. 14 Benefits paid to or for members (Part IX, column (A), line 4) 0. 0. m m m m m m m 422,057. 428,686. s 15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5-10) e s m m m m m m m m m m m m m m m m m 0. 0. n 16a Professional fundraising fees (Part IX, column (A), line 11e) e p b Total fundraising expenses (Part IX, column (D), line 25) I 238,547. x E m m m m m m m m m m m m m m m m 17 Other expenses (Part IX, column (A), lines 11a-11d, 11f-24e) m m m m m m m m m m 3,010,229. 2,988,938. 18 Total expenses. Add lines 13-17 (must equal Part IX, cm omlumm nm (mA)m, limnem 2m5)m m m m m m m m m m m 3,432,286. 3,417,624. 19 Revenue less expenses. Subtract line 18 from line 12 71,561. -2,114,290. s r e o Beginning of Current Year End of Year c s n t m m m m m m m m m m m m m m m m m m m m m m m m m m m m m m m m a e l 20 Total assets (Part X, line 16) 35,199,408. 33,369,162. s a s B m m m m m m m m m m m m m m m m m m m m m m m m m m m m m m m A 277,349. 569,935. 21 Total liabilities (Part X, line 26) d t n e m m m m m m m m m m m m m m m m m m u N Net assets or fund balances. Subtract line 21 from line 20 34,922,059. 32,799,227. F 22 Part II Signature Block Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge. M Sign Signature of officer Date Here M MARIO MESTICHELLI BD. MEMBER/TREASURER Type or print name and title Print/Type preparer's name Preparer's signature Date Check if PTIN Paid FRANK GIARDINI self-employed P00532355 Preparer I I Firm's name GRANT THORNTON LLP Firm's EIN 36-6055558 Use Only I Firm's address 2001 MARKET STREET, SUITE 700 PHILADELPHIA, PA m19103m m m m m m m m m m m m m m Pmhomnem nom . m m m215-561-4200m m m May the IRS discuss this return with the preparer shown above? (see instructions) X Yes No For Paperwork Reduction Act Notice, see the separate instructions. Form 990 (2018) JSA 8E1065 1.000 14344X 700P 6/30/2020 11:38:48 AM V 18-8.6F 0176701-00010 PAGE 5 ACADEMY OF MUSIC OF PHILADELPHIA, INC. 23-1501159 Form 990 (2018) Page 2 Part III Statement of Program Service Accomplishments m m m m m m m m m m m m m m m m m m m m m m m m Check if Schedule O contains a response or note to any line in this Part III X 1 Briefly describe the organization's mission: THE ACADEMY'S PRIMARY EXEMPT PURPOSE IS TO RAISE FUNDS THROUGH THE RESTORATION AND PRESERVATION FUND TO RESTORE AND MAINTAIN THE 162-YEAR-OLD ACADEMY OF MUSIC, THE OLDEST KNOWN CONTINUOUSLY OPERATING OPERA HOUSE IN THE UNITED STATES. 2 Did the organization undertmakm em amnmy msigm nmifimcam nmt mprmogm rmamm msem rmvicm ems mdum rmingm mthme myem amr mwmhimchm wm em rem mnom t m lism tem dm om nm tmhem prior Form 990 or 990-EZ? Yes X No If "Yes," describe these new services on Schedule O. 3 Did the mormgmanm izmatmiomn m cmeam sme m cmomndm umctminmg,m om rm m am kme m smigmnimficm amntm mchmamngm ems m inm mhom wm m itm cm omndm umctms,m manm y m pm rom gmram mm services? Yes X No If "Yes," describe these changes on Schedule O. 4 Describe the organization's program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
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