ANNUAL REPORT 2016–17 ANNUAL REPORT 2016–17 LETTERS FROM THE LEADERSHIP

The New York Philharmonic’s 2016–17 There is a reason the New York season invited us to look not only back Philharmonic is one of the world’s most at our storied past but also ahead to a revered orchestras. The secret ingredient: more vibrant future. a spirit of innovation. In our 176 years we Our 175th anniversary season salute have left an indelible mark on musical to New York City included The New World history through a stunning history of Initiative, which connected the Orchestra “firsts,” with innovation and reinvention with our neighbors through the sounds of coded into the genetic DNA of this Dvořák’s New World Symphony played institution. The Philharmonic flourishes at the Opening Gala and the Concerts in when it dares to invent the future. As the Parks, and through YPCs and school we look to an auspicious new era with projects. Exciting live-to-film projects, Jaap van Zweden, we welcome fresh including the Spring Gala’s presentation opportunities to fully embrace that of Breakfast at Tiffany’s, toasted our tradition and weave ourselves deeply Brad Trent Brad hometown with excitement and glamour. / LA Phil Evans Vern into the fabric of our city and the lives We also marked the culmination of Alan Gilbert’s tenure as Music Director, thanking of our audiences. This is a requirement for true greatness. him for the imagination he brought, and wishing him future success. Yes, there are major challenges before us. As we move forward, our guiding Behind the scenes, we made great strides in creating a strong financial principles in supporting innovation and reinvention will be those of transparency foundation. Although the season closed with a $7.6 million deficit, our net financial (of communication and process), responsibility (fiscal and organizational), and position improved by $36 million, thanks to increases in the value of our endowment engagement (with Board, Musicians, Staff, and our community). and in our donations, including new commitments made to the Launch Fund. The As the Orchestra’s next era fast approaches, we have confidence in our Board of Directors developed this $50 million fund to usher in a new era of fiscal organization’s innovative capacity and resiliency which, for almost 18 decades, stability and to support the new leadership team of Deborah Borda, our new have been the beating heart of the New York Philharmonic. Jaap and I thank the President and CEO, and Jaap van Zweden, our next Music Director. Board and the incredibly generous group of donors who are helping propel the With the powerful vision of Jaap and Deborah, the brilliance of the Orchestra’s Philharmonic into a strong future by committing to the Launch Fund, which will musicians, and the dedication of the Philharmonic’s remarkable family of donors, have a powerful and immediate impact on the Philharmonic by ensuring balanced we are setting the stage for a “New” New York Philharmonic. A new era of fiscal budgets over the next several seasons and creating a strong foundation as we move health, dynamic leadership, and reconnection with New York will guarantee that the into a vibrant new era. Philharmonic is around for another 175-plus years of brilliance, beauty, innovation, It is with commitment and enthusiasm that we celebrate our wonderful and impact. musicians, anticipate the arrival of our new Music Director, and continue to deepen engagement with our communities and, of course, with each other. Sincerely yours, Sincerely,

Oscar S. Schafer Chairman Deborah Borda President and Chief Executive Officer THE 175TH ANNIVERSARY SEASON THE NEW WORLD INITIATIVE Chris Lee

New York came together through Dvořák’s Symphony No. 9, From the New World, through activities including (clockwise from top left) a community performance at the Concerts in the Parks, Presented by Didi and Oscar Schafer; the Facebook Live broadcast of the Opening Gala Concert; classroom work; and student, amateur, and professional musicians of all stripes performing the famous Largo theme. Bob Curtis Bob Island Staten 78, P.S. from Student 175TH ANNIVERSARY SEASON CONCERTS AND ATTENDANCE

Concerts Attendance 109 Subscription 271,020 21 Non-subscription 49,632 (3 West Side Story, 2 Manhattan, 1 Opening Gala Concert, 1 Itzhak Perlman, 1 China Philharmonic presentation, 2 Babe in Concert, 1 Holiday Brass, 1 New Year’s Eve, 1 Chinese New Year Concert and Gala, 1 Rachmaninoff’s Vespers presentation, 1 Kavakos recital, 1 Alan Gilbert 50th Birthday Concert, 1 Breakfast at Tiffany’s, 3 E.T.: the Extra-Terrestrial) 4 Young People’s Concerts 10,420 6 Young People’s Concerts for Schools 12,082 9 Very Young People’s Concerts at Merkin Concert Hall 3,174 23 Open Rehearsals 25,870

1 Regional (Long Island University) 1,135 2 CONTACT! 179 6 Philharmonic Ensembles at Merkin Concert Hall 1,680 3 NY PHIL Off The Grid 663 5 Concerts in the Parks and Free Indoor Concert, Presented by Didi and Oscar Schafer 96,850 1 Annual Free Memorial Day Concert 1,913 14 on EUROPE / SPRING 2017 tour 22,871 4 in the Shanghai residency 5,004 6 in the Bravo! Vail residency 16,292 1 in the Music Academy of the West residency 6,500 2 Circle Map at Park Avenue Armory 1,988 1 Performance at United Nations General Assembly Hall 1,650 218 TOTAL 528,881 175TH ANNIVERSARY SEASON NEW YORK IN FILM

Three live-to-film presentations toasting the Orchestra’s hometown (clockwise from left): Manhattan, Breakfast at Tiffany’s (the Spring Gala), and West Side Story All photos by Chris Lee All photos

Programs for Families at the New York Philharmonic are presented by Daria and Eric Wallach. NEW YORK PHILHARMONIC 2016–17 SEASON

ALAN GILBERT, Music Director Lisa Kim CELLOS FLUTES Joshua Gersen, Assistant Conductor Acting Principal Carter Brey Robert Langevin Leonard Bernstein, Laureate Conductor, Soohyun Kwon*** Principal Principal In Memory of Laura Mitchell The Fan Fox and Leslie R. Samuels Chair The Lila Acheson Wallace Chair 1943–1990 Duoming Ba Eileen Moon-Myers* Yoobin Son Kurt Masur, Music Director Emeritus, 1991–2015 The Joan and Joel I. Picket Chair The Paul and Diane Guenther Chair Mindy Kaufman Esa-Pekka Salonen, The Marie-Josée Kravis Hannah Choi Eric Bartlett The Edward and Priscilla Pilcher Chair Composer-in-Residence Patrick Jee Blair Francis++ Leonidas Kavakos, The Mary and James G. Marilyn Dubow Wallach Artist-in-Residence The Sue and Eugene Mercy, Jr. Chair Elizabeth Dyson+ PICCOLO Hyunju Lee The Mr. and Mrs. James E. Buckman Chair VIOLINS Mindy Kaufman Joo Young Oh Alexei Yupanqui Gonzales Frank Huang OBOES Concertmaster Daniel Reed† Maria Kitsopoulos The Charles E. Culpeper Chair Marié Rossano‡ The Secular Society Chair Liang Wang Principal Sheryl Staples Sumire Kudo Mark Schmoockler The Alice Tully Chair Principal Associate Concertmaster Na Sun Qiang Tu The Elizabeth G. Beinecke Chair Sherry Sylar* The Gary W. Parr Chair Nathan Vickery Michelle Kim Robert Botti Vladimir Tsypin Ru-Pei Yeh Assistant Concertmaster The Lizabeth and Frank Newman Chair The Credit Suisse Chair in honor of Paul Calello The William Petschek Family Chair Jin Suk Yu Grace Shryock++ Quan Ge BASSES VIOLAS ENGLISH HORN Hae-Young Ham Cynthia Phelps Timothy Cobb Principal Grace Shryock++ The Mr. and Mrs. Timothy M. George Chair Principal The Mr. and Mrs. Frederick P. Rose Chair Max Zeugner* Lisa GiHae Kim CLARINETS Rebecca Young* The Herbert M. Citrin Chair Kuan Cheng Lu Anthony McGill The Joan and Joel Smilow Chair Blake Hinson** Kerry McDermott Principal — Satoshi Okamoto The Edna and W. Van Alan Clark Chair Anna Rabinova The Norma and Lloyd Chazen Chair Pascual Martínez Forteza*** Charles Rex† Dorian Rence Randall Butler The Honey M. Kurtz Family Chair The Shirley Bacot Shamel Chair The Ludmila S. and Carl B. Hess Chair Amy Zoloto‡ Fiona Simon Katherine Greene David J. Grossman The Mr. and Mrs. William J. McDonough Chair Pavel Vinnitsky++ Sharon Yamada Orin O’Brien (50th anniversary) Vivek Kamath Shanshan Yao Isaac Trapkus‡ E-FLAT CLARINET Peter Kenote Elizabeth Zeltser Rion Wentworth‡ Pascual Martínez Forteza The William and Elfriede Ulrich Chair Kenneth Mirkin Yulia Ziskel Judith Nelson BASS CLARINET The Friends and Patrons Chair Rémi Pelletier Amy Zoloto‡ Robert Rinehart The Mr. and Mrs. G. Chris Andersen Chair BASSOONS BASS TROMBONE LIBRARIANS * Associate Principal Judith LeClair George Curran Lawrence Tarlow ** Assistant Principal Principal The Daria L. and William C. Foster Chair Principal *** Acting Associate Principal The Pels Family Chair Sandra Pearson** + On Leave Kim Laskowski* TUBA Sara Griffin** ++ Replacement/Extra Roger Nye Alan Baer The Rosalind Miranda Chair Principal ORCHESTRA PERSONNEL in Memory of Shirley and Bill Cohen The New York Philharmonic uses the revolving seating Carl R. Schiebler method for section string players who are listed Arlen Fast TIMPANI (1937–2016) alphabetically in the roster. Markus Rhoten Orchestra Personnel Manager CONTRABASSOON Principal The Carlos Moseley Chair Valerie Petrov HONORARY MEMBERS OF THE SOCIETY Arlen Fast Assistant Orchestra Personnel Manager Kyle Zerna** Emanuel Ax HORNS STAGE REPRESENTATIVE Stanley Drucker PERCUSSION Philip Myers† Joseph Faretta Zubin Mehta Principal Christopher S. Lamb Principal † denotes musician who retired during the season Richard Deane* AUDIO DIRECTOR The Constance R. Hoguet Friends of the ‡ denotes musician granted tenure R. Allen Spanjer Philharmonic Chair Lawrence Rock during the season The Rosalind Miranda Chair Daniel Druckman* (25th anniversary) Leelanee Sterrett The Mr. and Mrs. Ronald J. Ulrich Chair Howard Wall Kyle Zerna The Ruth F. and Alan J. Broder Chair Alana Vegter++ HARP Instruments made possible, in part, by Nancy Allen The Richard S. and Karen LeFrak TRUMPETS Principal Endowment Fund. The Mr. and Mrs. William T. Knight III Chair Christopher Martin‡ Principal The Paula Levin Chair KEYBOARD In Memory of Paul Jacobs Matthew Muckey* Ethan Bensdorf HARPSICHORD Thomas Smith Paolo Bordignon

TROMBONES PIANO Joseph Alessi Eric Huebner Principal The Anna-Maria and Stephen Kellen Piano Chair The Gurnee F. and Marjorie L. Hart Chair ORGAN Colin Williams* Kent Tritle David Finlayson The Donna and Benjamin M. Rosen Chair ARTISTIC PARTNERS

The Marie-Josée Kravis Composer-in-Residence Esa-Pekka Salonen (left top, conducting Circle Map at Park Avenue Armory, and, far left, following the New York Premiere of his Cello Concerto conducted by Alan Gilbert, with Yo-Yo Ma as soloist); Semyon Bychkov (above, who presided over the three-week Beloved Friend — Tchaikovsky and His World: A Philharmonic Festival); and The Mary and James G. Wallach Artist-in-Residence Leonidas Kavakos (who premiered Lera Auerbach’s NYx: Fractured Dreams [Concerto No. 4 for Violin and Orchestra],

All photos by Chris Lee All photos led by Gilbert) THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC. International Advisory Board

Co-Chairs Angela Chen, United States Christian Lange, United States Officers and Directors Oscar S. Schafer, Chairman Deborah Borda, President and CEO Board Members Peter W. May, Vice Chairman Daisy M. Soros, Secretary Laura Chang, Treasurer Dr. Clemens Börsig, Germany* Riccardo Braglia, Switzerland Lawrence D. Ackman Sharon Hite* Susan Rose Jinqing Caroline Cai, China Alec Baldwin Ann Johnson Carol D. Schaefer Liza Chang, China* Dr. Kathryn Beal Peter Jungen Shirley S. Bacot Shamel Charles C. Y. Chen, Taiwan Joshua Bell Alexander Klabin Larry A. Silverstein Steve Chu, China* Yefim Bronfman J. Christopher Kojima Laura J. Sloate* Jay Cooper, United States* Angela Chen Honey M. Kurtz Yasushi Takahashi Misook Doolittle, United States* Arthur Chu Stephanie Landsman* Oscar L. Tang Kaaren Hale, United Kingdom Toos N. Daruvala Christian A. Lange Pamela Thomas-Graham Janet Holmes à Court AC, Australia Lodewijk J.R. de Vink Karen T. LeFrak Daniil Trifonov Derek Hu, China* Annabelle K. Garrett Harold Mitchell, AC Maggie Ueng Tsai Steven Jensen, United States Sarah Jane Gibbons James L. Nederlander Bobby Tudor Eric X. Li, China* Peter Gross Elizabeth A. Newman Ronald J. Ulrich Federico R. Lopez, Philippines Paul B. Guenther Charles F. Niemeth Daria L. Wallach Hsiu Ling Lu, China* Gurnee F. Hart Gary W. Parr Mary J. Wallach Thierry Porté, Luxembourg / United States* Donald J. Heberle Itzhak Perlman Sandra F. Warshawsky Leon Ramakers, Netherlands Robert S. Hekemian, Jr. Joel I. Picket Shirley Young Dr. Jonathan Seah, China / Singapore Caspar Seemann, Germany Bradley Simon, United States* Chairmen Emeriti Tony Tan Caktiong, Philippines Paul B. Guenther Gary W. Parr Dr. Satoshi Tanaka, Japan Dr. Ash Tewari, United States* Directors Emeriti Richard Tsai, Taiwan Donald Blinken Phyllis J. Mills Joel E. Smilow Susanne Wamsler, Austria Dale M. Frehse Paula L. Root Stephen Stamas Simona Zampa, Switzerland* Gunther E. Greiner Benjamin M. Rosen Honorary Members Emma Thompson, United Kingdom Maestro Yu Long, China

(As of August 31, 2017) (As of August 31, 2017) * Joined during the 2016–17 season * Joined during the 2016–17 season THE ADMINISTRATION

DEBORAH BORDA Communications Institutional Giving Education President and CEO Lanore Carr Megan R. Whitman Amy Leffert BILL THOMAS Assistant to the Vice President, Communications Director, Institutional Giving Director, Education Productions Executive Director Deirdre Roddin Nora Webb Heather Briere Daphne Halpern Communications Manager Assistant Director, Institutional Giving Manager, School Programs Interim Vice President, Development Jennifer Luzzo Debora Kang Isaac Thompson Communications and Digital Content Associate Membership Manager, Education Programs Vice President, Artistic Planning Kristen Robinson Vince Ford Publications Director, Membership Executive Office Vice President, Digital and Strategic Initiatives Monica Parks Genevieve Chapin Susan O’Dell Katherine E. Johnson Director of Publications Manager, Patron Program Assistant to the President Vice President, Communications Elana Estrin Amy Grossman Galarza Halie Morris Julii Oh Publications and Content Editor Manager, Friends Program Administrative Assistant Vice President, Marketing and Katherine Delaney Customer Experience Edward Lovett Digital Publications Editor Membership Associate Operations and Finance Miki Takebe Rebecca Winzenried Archives Vice President, Operations and Touring Operations Program and Publications Editor Barbara Haws Theodore Wiprud Jose Guzman Archivist / Historian Vice President, Education, Operations Associate The Sue B. Mercy Chair Development Kevin Schlottmann Marissa Marquardt Digital Archives Manager Hanna Gyory Operations Associate Assistant to the Senior Vice President, Gabryel Smith Artistic Planning Institutional Advancement Molly Rabuffo Assistant Archivist Operations Associate Pamela Walsh Sam Cole Artistic Administrator Manager, Donor Relations Digital and Strategic Initiatives Stephanie McGurren Special Events and Volunteer Services Artistic Planning Assistant Corporate Relations Lawrence Rock Marion Cotrone Audio Director Galiya Valerio Mykal Urbina Director, Special Events and Volunteer Services Mark Travis Assistant to the Music Director Manager, Corporate Sponsorships Marina Happaney Associate Director, Media Production Manager, Special Events Individual Giving Jacob King Siobhan Harloff Video Producer Susan Ebersole Associate Director, Special Events Robert Lanham Director, Leadership Gifts and Volunteer Services Associate Director, Digital Platforms Russell Jones Nicole Yuen Elizabeth Mauban Director, Major Gifts Administrative Assistant Digital Content Manager Lisa Caputo Associate Director, Prospect Management Luke Gay Major Gifts Officer Kayla Walker Prospect Researcher Information Technology Marketing Operations Terri-Ann Feindt Patrick Hartigan Mandy Decker Director of Information Technology Assistant to the Vice President, Administrative Assistant Marketing and Customer Experience Elizabeth Lee Patrick O’Reilly Associate Director, Information Technology Deedee Aguilar Operations Assistant Group Sales Manager Andy Surujnarine Brendan Timins Associate Director, IT Infrastructure Rebecca Brenner Director, Touring and Operations Direct Marketing Manager Joseph Papenmeyer Valerie Whitney Network Administrator Charles Buchanan Manager, Facilities and Operations Database Marketing Analysis Yuri Reyes Support Analyst Deirdre Cipolla Global Academy Associate Director, Marketing Services Michele Balm Finance Lisa Grow Director, Global Academy Pamela Katz Director of Acquisition Marketing Director of Finance Renee Jiang Orchestra Personnel Marilyn Nichols Digital Marketing Manager DeAnne Eisch Finance and Administration Assistant Rachel Rossos Gallant Orchestra Personnel Manager Maryam Kimyagarova Director of Relationship Marketing Valerie Petrov Assistant Controller Assistant Orchestra Personnel Manager Customer Relations Ashley Levine Aileen MacDonald Assistant Controller Britta Hallberg Orchestra Personnel Assistant Director of Customer Relations Aleftina Malayeva Senior Accountant Jasmine Bermudez Customer Relations Representative Gordon Samuels Assistant Accountant Katherine Charleton Customer Relations Supervisor Karen Schlicht Payroll Manager Thomas Decker Ticketing System Manager Human Resources Patrick Deeney Catherine Williams Customer Relations Manager Director of Human Resources Ashley Lara Customer Relations Supervisor Anna Lewein Customer Relations Representative John Sherer Customer Relations Representative Jonathan Tindall Customer Relations Representative

(As of August 31, 2017) PHILHARMONIC MUSICIANS IN THE SPOTLIGHT Jennifer Taylor Jennifer

From left: Principal Clarinet Anthony McGill, playing Mozart, and Concertmaster Frank Huang, who played Bruch Chris Lee Clockwise from top left: Principal Trombone Joseph Alessi, reprising the concerto William Bolcom composed for him; Principal Trumpet Christopher Martin, playing Ligeti in his debut; Cynthia Phelps, in the New York Premiere of Julia Adolphe’s Unearth, Release (Concerto for Viola and Orchestra), led by Jaap van Zweden; and Principal Flute Robert Langevin, playing Mozart All photos by Chris Lee All photos CONDUCTORS, SOLOISTS, AND ENSEMBLES

Conductor Ensemble Piano Ella Wahlström, Sound Designer* Sumi Jo, Soprano* Jiří Bĕlohlávek Colorado Symphony Chorus, Emanuel Ax Hester Warren-Steijn,Assistant Director* Jennifer Johnson Cano, Mezzo-Soprano Herbert Blomstedt Duain Wolfe, Director Inon Barnatan David C. Woolard, Costume Designer* Joseph Kaiser, Tenor* Semyon Bychkov Concert Chorale of New York, Jonathan Biss Anu Komsi, Soprano** James Bagwell, Director Iván Fischer Yefim Bronfman Trombone Piia Komsi, Soprano* Jazz at Lincoln Center Orchestra Aaron Diehl* Mezzo-Soprano* Joshua Gersen with Wynton Marsalis Joseph Alessi Magdelena Kožená, Kirill Gerstein Soprano* Alan Gilbert Los Angeles Master Chorale, Christina Landshamer, Pablo Heras-Casado Stephen Hough Daniela Mack, Mezzo-Soprano* Grant Gershon, Artistic Director Trumpet Manfred Honeck Lang Lang Stephen Milling, Bass* Manhattan School of Music Alison Balsom* Jakub Hrůša* Symphonic Chorus and Anne-Marie McDermott Tamara Mumford, Mezzo-Soprano Chamber Choir, Christopher Martin* Vladimir Jurowski Kun Woo Paik** Kelley O’Connor, Mezzo-Soprano Kent Tritle, Director Leonidas Kavakos*** Daniil Trifonov Kenneth Overton, Baritone* New York Philharmonic Brass and Viola Bernard Labadie Eric Owens, Bass-Baritone Percussion, Philip Smith, Cynthia Phelps Courtney Lewis** Trumpet / Conductor / Host Sitar Hyesang Park, Soprano* David Newman New York Philharmonic String Quartet* Anoushka Shankar* Susanna Phillips, Soprano* Violin Itzhak Perlman The Symphony Singers*, Matthew Polenzani, Tenor Judith Clurman, Director Lisa Batiashvili Esa-Pekka Salonen Theatrical Christopher Purves, Baritone* Westminster Symphonic Choir, Joshua Bell Bramwell Tovey Kevin Del Aguila, Artistic Consultant John Relyea, Bass-Baritone Joe Miller, Director Pamela Frank Nigel Westlake* Quilan Arnold, Dancer* Morris Robinson, Bass* Augustin Hadelich Long Yu Pierre Audi, Mise-en-space* Stephen Salters, Baritone Flute Frank Huang Jaap van Zweden Thomas Baird, Dancer Paulo Szot, Bass-Baritone Robert Langevin Leonidas Kavakos Alec Baldwin, Artistic Advisor Russell Thomas, Tenor Yoobin Son* Itzhak Perlman Cello Jean-Baptiste Barrière, Video and Camilla Tilling, Soprano Frank Peter Zimmermann Yo-Yo Ma Production Designer* Christian Van Horn, Bass-Baritone* Horn Nikolaj Znaider Nell Benjamin, Writer / Director* Rachel Willis-Sørensen, Soprano* Nigel Black* Clarinet Joshua Dachs, Scenic Designer Weiqin Xu, Baritone Michael Thompson* Vocalist Kari Kriikku Mark Grey, Sound Designer Jennifer Zetlan, Soprano Richard Watkins* Jamie Barton, Mezzo-Soprano* Anthony McGill Yo-Yo Ma, Special Guest Katy Woolley* J’Nai Bridges, Mezzo-Soprano* Melissa Rae Mahon, Artistic Consultant* * New York Philharmonic debut Peter Bronder, Tenor* English Horn Wynton Marsalis, Special Guest ** New York Philharmonic Sasha Cooke, Mezzo-Soprano Grace Shryock* Host / Speaker Louisa Muller, Director* subscription debut Joyce DiDonato, Mezzo-Soprano John Adams Larry O’Keefe, Actor / Writer / Director* *** New York Philharmonic Ying Fang, Soprano* Dashan Tony Roberts, Special Guest* conducting debut Renée Fleming, Soprano Gabriel Ebert* Leslie Stifelman, Artistic Consultant* Brian Jagde, Tenor* Theodore Wiprud Jennifer Tipton, Lighting Designer* TOUR AND RESIDENCIES Chris Lee Chris Lee

Counterclockwise from top left: EUROPE / SPRING 2017 tour stops in Vienna and London (the latter including a Very Young People’s Concert); the residency at Bravo! Vail; Zarin Mehta Fellows rehearsing within the Philharmonic as part of the Shanghai Orchestra Academy and Residency Partnership Chris Lee Zach Mahone

The EUROPE / SPRING 2017 tour is sponsored by J.C. Flowers & Co. Generous support is provided by Marie-Josée and Henry Kravis. PHILHARMONIC EDUCATION PROGRAMS MUSICIAN INSTRUCTION New York Philharmonic Global Academy

Young People’s Concerts Attendance Shanghai Orchestra Academy and Residency Partnership 5 Young People’s Concerts (4 in David Geffen Hall, 1 in Shanghai) 11,584 •  2-year masters’ orchestral training program 6 Young People’s Concerts for Schools 12,082 •  4 visits by Philharmonic musicians (for a total of 420 teaching hours by 11 Very Young People’s Concerts (9 at Merkin Concert Hall, 1 in Brooklyn, 1 in London) 3,543 46 musicians), plus 15 hours of video- conferencing lessons 1 Boro-Linc Concert by Teaching Artist Ensemble 106 •  85% of the first SOA graduating class 23 TOTAL 27,315 secured professional orchestral jobs Global Academy Partners • Music Academy of the West: a Philhar- Learning Communities Participants monic performance residency in Santa Barbara, California, and the Global 15 Philharmonic Schools 5,109 students, 235 partner teachers Academy Fellowship Program for Zarin (in all five NYC boroughs, featuring 15 in-school concerts) Mehta Fellows • Rice University’s Shepherd School of Music: 7 Very Young Composers In-School Collaborations 84 students, 7 partner teachers with Philharmonic musicians instructing in Houston, Texas, and the Global Academy 3 VYC Bridge Levels (18 classes each) 53 students Fellowship Program for Zarin Mehta Fellows • Interlochen Center for the Arts: 4 Philhar- 2 Teacher Seminars 100 attendees monic musicians instructing approximately 110 secondary school students, and a visit 27 TOTAL 5,588 by 20 students to New York to observe rehearsals and performances, and to Lifelong Learning Attendance perform chamber music alongside their Philharmonic teachers 9 Insights at the Atrium (free panel discussions and lectures, at the David Rubenstein Atrium) 2,001 Zarin Mehta Fellows • Selected by audition for an immersion 2 Lincoln Center Moments 114 in the life of an orchestral player, plus (chamber concerts plus interactive workshops for those suffering with the opportunity to learn directly from dementia and their caregivers, given by Philharmonic musicians or teaching artists) Philharmonic musicians • 17 graduate students from Music Academy 30 Philharmonic Academy Jr. (coaching and performances, with 2 partner institutions) 1,142 of the West and Rice University’s Shepherd School of Music traveled to New York 46 Conservatory Collaborations (with local music schools) 67 • To date there have been 46 Zarin Mehta Fellows, 22 (almost 50%) of whom have 2 Conductors Tables 32 won professional jobs 89 TOTAL 3,356

Starr International Foundation is the Presenting Sponsor of the Shanghai Orchestra Academy and Residency Partnership. Support for the Philharmonic Global Academy is provided by Shirley Young / US–China Cultural Foundation. ALAN GILBERT’S FINAL SEASON

Highlights of Alan Gilbert’s farewell season as Music Director, clockwise from top left: Concerts in the Parks, Presented by Didi and Oscar Schafer; his 50th Birthday Concert, which included appearances by Yefim Bronfman, Lisa Batiashvili, Pamela Frank, Emanuel Ax, and Joshua Bell, plus “info-blades” celebrating the occasion; and A Concert for Unity in which he played violin with Musicians from the Philharmonic and Yo-Yo Ma’s Silk Road Ensemble before conducting Mahler’s

All photos by Chris Lee All photos Symphony No. 7 DIGITAL IMPACT

New York Philharmonic nyphil.org Leon Levy Digital Archives Social Media The Orchestra’s website provides an Makes available every aspect of the The New York Philharmonic leads all U.S. orchestras on the engaging interface for concertgoers as Orchestra’s history, 1842–1970, including following social media platforms (and leads all orchestras well as music lovers around the world. marked conducting scores and orchestra worldwide on Twitter and Instagram): • Unique page views: 6,423,653 parts, photographs, business records, and Facebook: 445,000 fans; 79,300,000 impressions; 551,000 engagements press scrapbooks; the inclusion of every • Users: 1,423,150 (43% new visitors, 57% returning • 254,000 (133%) more fans than the next highest U.S. orchestra printed program, updated weekly, makes visitors; 56% U.S. visitors, 44% international visitors) Twitter: 162,000 followers; 4,012,800 impressions; 83,800 engagements this the longest continuous performance • 89,000 (122%) more followers than the next highest U.S. orchestra history in the world. Instagram: 71,000 followers; 200,000 engagements • 19,000 (37%) more followers than the next highest U.S. orchestra Watch & Listen 150,000 USERS Digital Archives Innovative projects Kidzone 3 Facebook Live Concert Broadcasts: 1.5 million total viewers 6,678,928 (live and on-demand) 1,599,438 UNIQUE On the Cover: shared on Facebook, Twitter (and Periscope, embedded PAGE VIEWS UNIQUE in Twitter), Instagram, YouTube, Tumblr, Spotify, and What’s New (the Philharmonic blog) + PAGE VIEWS • On Facebook: 1,155,918 total reach; 329,900 total video views; + 21,696 total engagements 296,000 USERS NY Philharmonic Backstage: the first Facebook Live video series by (36% new visitors, 64% returning visitors; 890,256 USERS an orchestra 61% U.S. visitors, 39% international visitors) (since launch) • 1,776,517 total reach; 428,288 total video views; 60,695 total engagements LIFETIME GIFTS

Leadership Circle Daisy and Paul* Soros The Peter Jay Sharp Foundation Paul and Diane Guenther Laura Chang and Arnold Chavkin Starr International Foundation Joan and Joel Smilow SungEun Han-Andersen and G. Chris Andersen Citi Time Warner Inc. Phoebe and Bobby Tudor Rita E. and Gustave M. Hauser Credit Suisse The Alice Tully Foundation Marcia D. Walton The Robert and Mary Jane Hekemian Mr. and Mrs. J. Christopher Flowers Mr. and Mrs. Ronald J. Ulrich Foundation, Inc. Francis Goelet* Daria L. and Eric J. Wallach Partners Robert Wood Johnson Jr. Charitable Trust Mr. and Mrs. Charles B. Johnson Mary and James G. Wallach Foundation American Express JPMorgan Chase & Co. Anna-Maria and Stephen Kellen Foundation 1 Anonymous Assicurazioni Generali Mrs. William T. Knight, III* Marie-Josée and Henry Kravis AT&T Christian and Heidi Lange Mr. and Mrs. Richard S. LeFrak Guardians BASF Corporation Gerald M. Levin Lincoln Center for the Performing Arts, Inc. J. Carter Bacot* / Shirley Bacot Shamel Florence Blau* Rosalind Miranda and John McLintock* Leni and Peter May The Hilaria and Alec Baldwin Foundation The Honorable and Mrs. Donald M. Blinken Vivian Milstein Didi and Oscar S. Schafer BNY Mellon Booth Ferris Foundation Mitsui & Co. The Starr Foundation Yoko Nagae Ceschina* Breguet Morgan Stanley Dr. Agnes Hsu-Tang and Mr. Oscar L. Tang Eleanor Naylor Dana Charitable Trust Ruth F.* and Alan J.* Broder Mr.* and Mrs.* Murray L. Nathan Mrs. Arnold van Ameringen* The Dana Foundation Noreen and Kenneth Buckfire Natural Heritage Trust Lila Acheson and DeWitt Wallace Fund Exxon Mobil Corporation Mr. and Mrs. James E. Buckman The New York Times Company for Lincoln Center The Ford Foundation Mary Flagler Cary Charitable Trust Mabel Larremore Pope Fund Frederick N. Gilbert* Angela Chen, China Arts Society Joseph Pulitzer* Benefactors Gurnee F. and Marjorie L. Hart Sharon and Jon Corzine Mrs. John D. Rockefeller III* Mr. and Mrs. Lawrence D. Ackman The Hearst Foundations Charles E. Culpeper Foundation Mr.* and Mrs.* Frederick P. Rose The Family of Elizabeth G. Beinecke / The Kaplen Brothers Fund Constans Culver Foundation Donna and Benjamin M. Rosen Prospect Hill Foundation Wendy Keys and Donald Pels* Marijke and Lodewijk de Vink Mr.* and Mrs.* Richard B. Salomon Mr. and Mrs. Russell L. Carson Suzie and Bruce Kovner Deutsche Bank Carol and Chuck Schaefer Honey M. Kurtz H. Frederick Krimendahl II* and The Irene Diamond Fund Donna and Marvin Schwartz Leon Levy Foundation Emilia A. Saint-Amand Irmgard Dix* The Secular Society The Andrew W. Mellon Foundation The Ambrose Monell Foundation Ernst & Young Klara and Larry A. Silverstein Mr. and Mrs. Eugene Mercy, Jr. Charles F. and Anne M. Niemeth Katherine Farley and Jerry I. Speyer / In Memory of Orton and Lucile Simons MetLife Foundation The Lizabeth and Frank Newman Charitable Tishman Speyer The Beatrice Snyder Foundation National Endowment for the Arts Foundation Mr. and Mrs. Timothy M. George Priscilla Thomas* New York State Council on the Arts Gary W. Parr Ann and Gordon Getty Foundation Mr. and Mrs. Stanford S. Warshawsky The City of New York Elaine and Charles* Petschek The Horace W. Goldsmith Foundation 2 Anonymous The Susan and Elihu Rose Foundation Joan and Joel I. Picket / Picket Family Peter Gross The Fan Fox and Leslie R. Samuels Foundation Foundation, Inc. Peggy* and David* Rockefeller * Deceased (As of August 31, 2017) LEONARD BERNSTEIN CIRCLE

Marilyn and Robert Abrams Rosalind and Eugene J. Glaser In Memory of Ann Longmore Michael A. Sennott Mr. and Mrs. Lawrence D. Ackman Mr. and Mrs. Allan H. Glick Ed and Kathy Ludwig Klara and Larry A. Silverstein Deborah and Charles Adelman Francis Goelet Charitable Lead Trusts Mabel Larremore Pope Fund Kent C. Simons: Judy Hart Angelo and John M. Angelo* Suzan Gordon Nancy A. Marks In Memory of Orton and Lucile Simons James A. Attwood, Jr. and Leslie K. Williams Joan B. Gossner Catie and Donald Marron The Hermione Foundation, Laura J. Sloate Trustee The Hilaria and Alec Baldwin Foundation Jaye Penny Gould Foundation Leni and Peter May Joan and Joel Smilow Mrs. Mercedes T. Bass Maurice and Corinne Greenberg Barbie and Tony Mayer Mr. and Mrs. Howard Solomon Dr. Kathryn and Bruce Beal Gunther E. Greiner Mr. and Mrs. Eugene Mercy, Jr. Daisy and Paul* Soros Dr.* and Mrs. Joshua Becker Peter Gross Mr. and Mrs. A. Slade Mills, Jr. Vajra Kingsley and Karl Sprules The Family of Elizabeth Beinecke Jennifer and Bud Gruenberg Evalyn E. and Stephen E. Milman Arlene and David Starr Shirley Brodsky Jan M. Guifarro Mr. and Mrs. Philip Milstein Kimberly V. Strauss Noreen and Kenneth Buckfire Gurnee and Marjorie Hart Rosalind Miranda and John McLintock* Kay and Jackson Tai The Carson Family Charitable Trust Muna and Basem Hishmeh Harold Mitchell, AC Dr. Agnes Hsu-Tang and Mr. Oscar L. Tang Mr. and Mrs. Jaemin Chang The Hite Foundation Margo M. and James L. Nederlander Tiger Baron Foundation Laura Chang and Arnold Chavkin Mr. and Mrs. Charles B. Johnson Linda and Stuart Nelson Mr. Richard Tsai and Ms. Maggie Ueng Tsai Angela Chen, China Arts Society Barbara Ehrlich and Stuart M. Johnson The Lizabeth and Frank Newman Mr. and Mrs. Ronald J. Ulrich Jariya Wanapun and Arthur Chu Peter Jungen Charitable Foundation Daria L. and Eric J. Wallach Carolyn and David Cohen Joan and Mike Kahn Howard S. Paley Mary and James G. Wallach Foundation Joseph M. Cohen Ralph W.* and Leona Kern Gary W. Parr Mr. and Mrs. Stanford S. Warshawsky Michele and Marty Cohen Wendy Keys and Donald Pels* Joan and Joel I. Picket Jonathan Weiss and Barbara Asch Mrs. Daniel Cowin Temma and Alfred Kingsley Vicki and Charles Raeburn William R. Rhodes Angel Shine Foundation / Dr. Thomas Hugh Culverhouse and Kristen and Alexander Klabin Widmann and Mrs. Allyson Tang Eliza Perlmutter Culverhouse Mrs. Frederick P. Rose* Beth and Christopher Kojima Edward Jay Wohlgemuth Toos and Hira Daruvala Susan and Elihu Rose Suzie and Bruce Kovner Shirley Young / US-China Cultural Institute / Marijke and Lodewijk de Vink Karen and Alan M. Krause Edward John and Patricia Committee of 100 Rosenwald Foundation Ms. Misook Doolittle Mr. and Mrs. Henry R. Kravis Ann Ziff Jack* and Susan Rudin Thea Duell and Peter Cook Mrs. H. Frederick Krimendahl II 1 Anonymous Patron Mrs. Julio Mario Santo Domingo Harvey P. Eisen and Honey M. Kurtz Andrea Herron Carol and Chuck Schaefer Mr. and Mrs. Fernand Lamesch The Enoch Foundation Didi and Oscar S. Schafer Mr. and Mrs. Christian Lange Cynthia and Herbert Fields Donna and Marvin Schwartz Julia L. Lanigan Mr. and Mrs. J. Christopher Flowers Dr. and Mrs. Thomas P. Sculco Taeja Kim Lee and Howard Lee Sheree A. and Gerald L. Friedman The Secular Society Mr. and Mrs. Richard S. LeFrak Deane A. and John D. Gilliam Florence L. Seligman Gerald L. Lennard Foundation

* Deceased (As of August 31, 2017) ANNUAL FUND

Gifts of $500,000 or More Gifts of $150,000 or More Gifts of $100,000 or More Ralph W.* and Leona Kern Laura Chang and Arnold Chavkin Mr. and Mrs. Lawrence D. Ackman Dr. Kathryn and Bruce Beal League of American Orchestras Mr. and Mrs. Charles B. Johnson BNY Mellon The Family of Elizabeth G. Beinecke / Mabel Larremore Pope Fund Anna-Maria and Stephen Kellen Foundation Shirley Brodsky Prospect Hill Foundation Shirley Young / US-China Cultural Institute / Leon Levy Foundation Noreen and Kenneth Buckfire The Carson Family Charitable Trust Committee of 100 Lincoln Center for the Performing Arts, Inc. Angela Chen, China Arts Society Mr. and Mrs. Bonko Chen The Andrew W. Mellon Foundation Marijke and Lodewijk de Vink Peter D. and Julie Fisher Cummings Gifts of $50,000 or More Family Foundation Didi and Oscar S. Schafer Francis Goelet Charitable Lead Trusts Baker McKenzie Toos and Hira Daruvala Starr International Foundation The Hite Foundation Dr.* and Mrs. Joshua Becker Deane A. and John D. Gilliam Mary and James G. Wallach Foundation The Kaplen Brothers Fund Florence Blau Estate Jaye Penny Gould Foundation Beth and Christopher Kojima BMW North America Estates of Burton G. and Anne C. Greenblatt Gifts of $250,000 or More Suzie and Bruce Kovner Guoqing Chen and Ming Liu Mrs. H. Frederick Krimendahl II The Hilaria and Alec Baldwin Foundation Honey M. Kurtz Estate of Uta Christianson National Endowment for the Arts Jariya Wanapun and Arthur Chu Mr. and Mrs. Richard S. LeFrak Mrs. Daniel Cowin National Endowment for the Humanities Citi Evalyn E. and Stephen E. Milman Ms. Misook Doolittle New York State Council on the Arts Emirates Airline Rosalind Miranda and John McLintock* Thea Duell and Peter Cook Charles F. and Anne M. Niemeth Mr. and Mrs. J. Christopher Flowers Mitsui & Co. (U.S.A.), Inc. Katherine Farley and Jerry I. Speyer / The Pratt Foundation Tishman Speyer Peter Gross Margo M. and James L. Nederlander Jack* and Susan Rudin Ann and Gordon Getty Foundation The Hearst Foundations New York City Department of Cultural Affairs Carol and Chuck Schaefer Howard Gilman Foundation Kristen and Alexander Klabin The Lizabeth and Frank Newman Donna and Marvin Schwartz Taeko Hattori Mr. and Mrs. Henry R. Kravis Charitable Foundation Shirley Bacot Shamel Hearst Christian and Heidi Lange Gary W. Parr Kent C. Simons: Muna and Basem Hishmeh Leni and Peter May Joan and Joel I. Picket In Memory of Orton and Lucile Simons Peter Jungen MetLife Foundation The Fan Fox and Leslie R. Samuels Foundation, Inc. Mr. and Mrs. Stanford S. Warshawsky Carol Sutton Lewis and William M. Lewis, Jr. Harold Mitchell, AC The Hermione Foundation, Audrey Love Charitable Foundation Susan and Elihu Rose Laura J. Sloate Trustee Gifts of $75,000 or More Samuel I. Newhouse Foundation, Inc. The Secular Society Joan and Joel Smilow Hugh Culverhouse and Eliza Perlmutter Florence L. Seligman Klara and Larry A. Silverstein Culverhouse Daisy and Paul* Soros In Memory of Judith B. Sellner Dr. Agnes Hsu-Tang and Mr. Oscar L. Tang The Enoch Foundation Mr. Richard Tsai and Ms. Maggie Ueng Tsai The Shubert Foundation, Inc. Phoebe and Bobby Tudor Barbara Ehrlich and Stuart M. Johnson Angel Shine Foundation / Dr. Thomas Widmann Mr. and Mrs. Howard Solomon Estate of Stanley H. Young Jr. and Mrs. Allyson Tang Paul and Diane Guenther Tiger Baron Foundation Mr. and Mrs. Ronald J. Ulrich Gurnee and Marjorie Hart Edward Jay Wohlgemuth The Wallace Foundation The Robert and Mary Jane Hekemian Daria L. and Eric J. Wallach Foundation, Inc.

* Deceased Gifts of $35,000 or More Bailey Eisen Antonio and Gabriela Quintella Gifts of $17,500 or More Joseph and Sophia Abeles Foundation Harvey P. Eisen and Andrea Herron Vicki and Charles Raeburn Judy Hart Angelo and John M. Angelo* Linda and Earle Altman Sheree A. and Gerald L. Friedman Leon Ramakers Rose M. Badgeley Residuary Charitable Trust Mr. and Mrs. Jaemin Chang Barbara and Peter Georgescu William R. Rhodes Mr. and Mrs. J. Truman Bidwell, Jr. Michele and Marty Cohen Alan Gilbert and Kajsa William-Olsson Mrs. Frederick P. Rose* Carolyn and David Cohen Cynthia and Herbert Fields Marilyn and Allan Glick Edward John and Patricia Rosenwald Dale M. Frehse Rosalind and Eugene J. Glaser Marilynn and Willis Goldsmith Foundation Mr. and Mrs. Trevor B. Gibbons Suzan Gordon Jan M. Guifarro Esa-Pekka Salonen Jones Day Joan B. Gossner The Marc Haas Foundation Samsung The Litwin Foundation Maurice and Corinne Greenberg Charles and Kaaren Hale Mrs. Julio Mario Santo Domingo Linda and Stuart Nelson Gunther E. Greiner Gerald L. and Anita-Agnes O. Hassell Dr. and Mrs. Thomas P. Sculco The Barbro Osher Pro Suecia Foundation Jennifer and Bud Gruenberg Barbara Haws and William Josephson Dr. Jonathan Seah Elaine and Charles* Petschek Joan and Mike Kahn Janet Holmes à Court AC Michael A. Sennott Leonard and Allison Stern Temma and Alfred Kingsley Mr. Derek Hu and Mrs. Malena Zhang Bradley D. Simon Dr. Ash Tewari Federico R. Lopez Steven J. Jensen Stephanie A. Sirota Ann Eden Woodward Foundation The Ludwig Family Foundation Jephson Educational Trusts The C.F. Roe Slade Foundation 1 Anonymous Patron Ed and Kathy Ludwig Nancy Jones Vajra Kingsley and Karl Sprules Mr. and Mrs. Eugene Mercy, Jr. Wendy Keys and Donald Pels* The Staten Island Foundation Gifts of $15,000 or More Arlene and David Starr Barbara and A. Eugene Kohn / Estate of Ruth C. Stern Bradley Craig and Paul Loux Kohn Pedersen Fox Kimberly V. Strauss Ruth* and Jack Eagan Gifts of $25,000 or More C.L.C. Kramer Foundation Kay and Jackson Tai Mr. and Mrs. Leroy Fadem Marilyn and Robert Abrams Karen and Alan M. Krause Tony Tan Caktiong, Jollibee Foods Corporation Steven L. Holley and John W. Hamilton IV Deborah and Charles Adelman Mr. and Mrs. Fernand Lamesch Dr. Satoshi Tanaka Gail and Stephen Kittenplan James A. Attwood, Jr. and Leslie K. Williams Julia L. Lanigan Dana Tang and Andy Darrell Jeffrey H. Loria & Co. Lily Auchincloss Foundation, Inc. Taeja Kim Lee and Howard Lee Teng Yue Partners, LP Beverley and Frank MacInnis The Theodore H. Barth Foundation, Inc. Gerald L. Lennard Foundation Barbara and Donald Tober Thomas J. and Diahn McGrath Mrs. Mercedes T. Bass Eric Li Mr. Richard Tsai Adolph and Ruth Schnurmacher Foundation, Inc. The Honorable and Mrs. Donald Blinken LOUIS XIII Matthew VanBesien and Rosie Jowitt Bonnie Ward Simon Mr. Riccardo Braglia Hsiu Ling Lu and Ivan Cheah Susanne Wamsler Mr. and Mrs. Thomas W. Smith Jinqing Caroline Cai Nancy A. Marks Jonathan Weiss and Barbara Asch In Memory of Roberta C. Solowey Liza Chang and Lorin Young Catie and Donald Marron Claudio and Simona Zampa Jay H. Tanenbaum Charles C. Y. Chen Barbie and Tony Mayer Zhang Xin and Pan Shiyi / SOHO China Betsy Wiegers China Construction America Mr. and Mrs. A. Slade Mills, Jr. Ann Ziff Simon Yates and Kevin Roon Steve Chu Mr. and Mrs. Philip Milstein 1 Anonymous Patron 1 Anonymous Patron Herbert M. Citrin Charitable Foundation The Ambrose Monell Foundation Catherine R. and Anthony A. Clifton Howard S. Paley Joseph M. Cohen Dusty and Yesim Philip Jay Cooper Thierry Porté Constans Culver Foundation The Prospect Hill Foundation

* Deceased Gifts of $12,000 or More Elizabeth De Cuevas Julie and David M. Tobey Marie and Joe Melone Arlene and Alan Alda James G. Dinan and Elizabeth R. Miller Mr. Gerardo Ubaghs Miller Khoshkish Foundation Amanda and Charles Brainerd Seth E. Frank Uncle Larry’s Fund The Leonard Bernstein Office: Dr. Edward DiCarlo Colin Gardner and Erika Faust Deborah and Thomas Wallace In Honor of Carlos Moseley James and Mary Early Clinton Gilbert Sue Ann Weinberg Alice K. Netter Marjorie and Roy Furman Richard Gilder and Lois Chiles Carol Andrea Whitcomb Stanley Newman and Dr. Brian Rosenthal Herman Goldman Foundation In Memory of Hope Perry Goldstein Mr. and Mrs. James D. Wolfensohn Stefan Nowicki Ellen and Lewis Kaden Selin and Ali Gulcelik 1 Anonymous Patron The Domenico Paulon Foundation Andrea Klepetar-Fallek Stephen and Jessica Gushée Jerry Perl Jonathan E. Lehman Mrs. Peter S. Heller Gifts of $7,500 or More In Honor of Elizabeth Pozen from her Loving Friends Dr. and Mrs. Kalmon D. Post Victor Herbert Foundation, Inc. Virginia Aaron Donna and Benjamin M. Rosen Elaine and Larry Rothenberg William Herrman Mimi and Barry J. Alperin Dr. Cheryl Rubin and Mr. Gordon Borteck Dr. and Mrs. Peter Som HGVC Resorts Kathi and Peter Arnow Ruth* and Milton Rubin Sara Tecchia Severa and Matthew Hurlock Jeanne Atkinson Mr. and Mrs. Stephen I. Rudin Vital Projects Fund, Inc. Mrs. Alexandra K. Jones Sandra and Harvey Benenson Ruth and Julian Schroeder Mr. Neil Westreich John and Janet Kanak Eli Bluestone A.J.C. Smith Whispering Bells Foundation: Erin and Alex Klatskin Margot and Jerry Bogert Mr. and Mrs. Dennis Swanson Carolan Workman Sheila Labrecque Douglas Durst Peggy P. Yannas and Andrew M. Wallach Laura and Robert Zimet Cynthia and Anthony Lamport Paula and Edward Fichtner Mr. and Mrs. William M. Zeitler Ilda and Chuck Lee Eunice and Milton Forman 3 Anonymous Patrons Gifts of $9,000 or More Kamie and Richard Lightburn Joan and Donald Fried Estate of Joan Anderson Harold Matzner Farrell Fritz, P.C. Gifts of $6,000 or More Sheila and Steven Aresty C. Jay Moorhead Foundation Sunny and Brad Goldberg Barbash Family Fund Susan Beckerman Mr. and Mrs. Lester S. Morse Linda and Richard Goldstein Marion and Sam Bass Mr. William S. Beinecke Nik Nunes Dr. Keith Gottesdiener and Ms. Beth Jacobs Arlene and Harvey Blau Frank and Lydia Bergen Foundation Mr. and Mrs. Yale I. Paprin Dr. and Mrs. Victor Grann Edith S. Bouriez: Murat Beyazit Dr. Mark Pruzanski and Mara Kaplan Molly Butler Hart and Michael D. Griffin In Support of the Heritage Society Lauren Blum and C. William Merten Leo Rosner Foundation Mr. Russel Hamilton Jimmy Caspi Gerhild and Clemens Börsig The Rudin Foundation, Inc. Lynne and Harold Handler Amy and Gary Churgin The Estate of Samuel Brandt Julia and Steve Rushmore Elihu and Harriet Inselbuch Leona Clague and Yonatan Arbel Frances and Leo Bretter Faten Sabry Dr. Avraham Kadar Colgate-Palmolive Company Mr. Valentino Carlotti Dr. Richard Sackler Natalie Katz: Connie and Steve Delehanty The Ralph M. Cestone Foundation Arlene Lidsky Salomon and Chester B. Salomon In Memory of Murray S. Katz Marie G. Dennett Foundation Mr. and Mrs. Bruce Clinton Eli Schonberger Thomas L. Kempner and Katheryn C. Patterson Aashish and Dinny Devitre Barbara and H. Rodgin Cohen Caspar Seemann Betty and John A. Levin The Fahey Family Foundation Betsy Cohn Kazuhiro and Takako Shimbo Marjory and John J. Lewin Karen and Henry Glanternik Andrea L. Colby Susan F. Sosin and Evan Singer The Arthur Loeb Foundation The J.M. Kaplan Fund Judith-Ann Corrente and Willem P. Kooyker Elaine* and Stephen Stamas Sivia Loria Ellen and Howard C. Katz Richard Cunniff, Jr. Connie Steensma and Richard Prins Bernice Manocherian Leonard and Judy Lauder * Deceased Dalia* and Larry Leeds The Aaron Copland Fund for Music Ann and Dan Kolb Richard E. Scheid Amanda and Thomas Lister Estate of Charlotte B. Crosby Elroy and Terry Krumholz Foundation Lisa and David T. Schiff Mr. and Mrs. George G. Matthews George F. Cumbler Howard and Gretchen Leach Mr. Glenn Schiller and Ms. Susan Augustyn Enken and Jerome Mayer Sally E. Cummins Donna and Jeffrey Lenobel Susan Schuur Alfred and Judith Netter The Dana Foundation Howard Li / Waitex International Co., Ltd Janet and William Schwartz Judy and Jim Pohlman Denise and Tom Decker Linda Lindenbaum Ms. Maxine R. Schweitzer Susan and Arnold Scharf The Gladys Krieble Delmas Foundation Jane Lombard Mr. and Mrs. Stanley DeForest Scott Solender Family Funds Mrs. Vivian H. Donnelley Carol and Albert Lowenthal Irene and Fred* Shen Karen S. and Barry F. Sullivan: Mrs. Eugene J. Eichenberg Carol and Daniel F. Marcus Janet and Rick Sherlund In Memory of Andre Sprogis David B. Elsbree, Jr. Michael* and Cynthia Marks Muriel F. Siebert Foundation Judy E. Tenney Irene Esteves and Steve Pearce Alyce Matsumoto David Simon: Evelene Wechsler Donna and Richard Esteves Melachrina May and Lawrence A. Sax In Loving Memory of Suzanne Cohn Simon Barry and Fran Weissler Yehuda and Rebecca Even-Zohar Gerald C. McNamara and Renée K. Petrofes Annaliese Soros Lucille Werlinich Peter and Vivian Falco Ms. Joyce Menschel Dr. Kenn Sparks 2 Anonymous Patrons Carol J. Feinberg Mr. Samuel Meshberg Maria and Bill Spears Norman Feit and Shishaldin Hanlen Adriana Mnuchin Nancy and Burton Staniar Gifts of $5,000 or More Mr. and Mrs. John French III Karl Moller Linda Stansfield Helen and Robert Appel FXFOWLE Mary Lou and Robert J. Morgado Nancy* and Robert Stone Robert H. Arnow Lora and Allan* Goodridge Charitable Trust Angee and Jerry Stonehouse The ASCAP Foundation Lisa A. and David J. Grais Carol and David Morse Ursula and Paul Striker Susan Baker and Michael Lynch John F. Green Edward Munves Alan and Katherine Stroock Fund Guy and Nora Barron Dr. Lynne B. Harrison Mr. and Mrs. Don H. Nelson Flora and George Suter Martin Berkowitz Mark Helge Charles John O’Byrne Henry Tang Mr. and Mrs. Charles A. Bernheim Fanya Gottesfeld Heller Nancy and Morris W. Offit Theresa S. Thompson Ann and Daniel Bernstein Alexandra and Paul Herzan Amy and John Peckham Michael Tischman and Dana Forfa Mr. and Mrs. Raphael Bernstein Linda and Steven Hill Liz and Jeff Peek Elliot Schreiber and Sara V. Traberman Robert and Julianne Bertagna Gregory Ho and Linda Sanchez Mark Perlbinder and Samantha Press Mr. and Mrs. Luciano Vasconcellos Dr. and Mrs. Mark Bevan Mrs. John R. Hupper Frank Petralito The Rudolph and Lentilhon G. Von Fluegge Foundation Mr. and Mrs. Charles L. Biggs Lenore and Michael Hyatt Jules L. Plangere, III Svetlana and Herbert Wachtell Mrs. Leonard Block Dr. Betty S. Iu Dr. Robert Press Clay and Harriet Ward Mr. and Mrs. Richard S. Braddock Susan G. Jacoby Harold and Judy Prince Jan Warner Yefim Bronfman: Nancy Steeger Jennings Mr. William Purdy In Memory of Naum Bronfman Drs. Nancy and Andrew Weiland Eva and Jim Judelson Dr. Gary and Deborah Raizes Harmon Brown Peter Wexler Alexandra Jupin and John Bean Dr.* and Mrs. Leon Root Mr. and Mrs. James E. Buckman Mr. George Reeves and Ms. Ross Wisnewski Neil Katz Nancy B. Rubinger The Bulova Stetson Fund Patrick B. Woods Elaine and Henry Kaufman Sana H. Sabbagh Cornelia and Stewart Clifford Shannon Wu and Joseph Kahn Robert M. Kaye and Diane Upright Raphael Samuel David and Dena Clossey Nanar and Tony Yoseloff Karen and Kevin Kennedy Barbara and John Samuelson Jill and Irwin B. Cohen 7 Anonymous Patrons Ester Kirjner and Carlos Kirjner-Neto Sarafian Foundation

* Deceased Gifts of $3,500 or More Paul and Sandra Montrone Anthony Anemone and Vivian Pyle Patricia and Edward Falkenberg Donald R. Allen and Mildred Munich Melissa and Chappy Morris Karen and Greg Arenson Anna and Jim Fantaci Dr. and Mrs. David M. Arneson The Munera Family Foundation Nicolina R. Astorina Mr. and Mrs. Kenneth R. Feinberg Terry A. Astuto Helen D. Ojha John and Gaily Beinecke Mr. and Mrs. Hart Fessenden Andrew and Kathy Berkman Daniel Padnos and Dexter Phillip Mr. and Mrs. T.G. Berk Colleen Foster and Chris Canavan Frances and Hubert J. Brandt Sybil Parker and Linda Collins Rena and Martin Blackman Andrew Frackman and Emily Braun Cynthia D. Brodsky Laura and John Pomerantz Allison Blinken J. Michael Fried Timothy and Mary Brosnan Susan Porter Philena T. Bolden Alice L. and Lawrence N. Friedland Joyce and Joel Buchman Andrea & Andy Potash Mrs. Barbara Brandt Elinor and Hasan Garan Dennis and Susan Bunder Doris C. Rechtman Carol and Robert Braun Robert F. Gossett, Jr. Celestine and Howard Campbell Kathleen L. Rollin Carol and Arthur Brill Patricia L. Gould Judy Chasanoff Dr. Hilary Ronner and Mr. Ronald Feiman Richard G. Brode Susan and Edward Greenberg David C. Chou The Hon. Helen Rosenthal, New York City Council John N. Brogard Marilyn and Bud Greenspan Jeffrey L. Cohen Mrs. Lillian Rosenthal Michael and Jane Broido Ms. Patricia M. Hastings Trust of Lucy Cooledge Lucinda and Brian Ross Steven P. Buffone Dr. Phyllis Hattis Dr. Frances R. Curcio Dr. and Mrs. Jeffrey Rothman Ann and Herbert Burger Susan and Robert Hermanos Charna and Tony Di Santo Joan L. and Reade H. Ryan Mr. and Mrs. Bruce R. Burton Joel Hershey and Roy Eddey Joan and Alvin H.* Einbender Betty and Paul Schaffer Donovan and Lillian Campbell Diane Deschamps Hockstader Dr. and Mrs. Joseph Fennelly Mr. and Mrs. Marc D. Schneider Sandra and James C. Carter Joan and George Hornig Arthur F. Ferguson David and Hope Solinger Foundation Judy Champion Timothy Hughes Susan and Arthur Fleischer Jean and Dick Swank Eric D. Chasser Merit E. Janow and Peter Young Fredrica S. and Stephen J. Friedman James R. Swenson and Joyce P. Gurzynski Carol and Wallace Chinitz The Honorable Brenda L. Johnson and Kari and Stephen Gauster: Dr. and Mrs. Jaime Sznajder Ohn Choe Mr. J. Howard Johnson In Memory of Donald and Joanne Asperheim Mr. and Mrs. Stephen Tepperman Dr. Miguel Antonio Cima Irene and Jacob Judd Lee Gelber Caroline Urvater Dr. Carmel J. Cohen and Babette G. Cohen Dr. and Mrs. Kenneth Kahaner Miriam Goldman Jacobus van Heerden Drs. Bobbi and Barry Coller Rita Katz Ellen C. Goldschmidt Nancy Vardakis Isabel E. Collins Thomas F. Kearns Irwin and Elizabeth Gotlieb Ms. Andrea Wahlquist John & Catherine Colton William S. Keating Jane and Randy Guggenheimer Ronnie and Jeffrey Weinstein Nathalie and Marshall Cox Mr. and Mrs. William P. Keirstead Susan Gullia Sally and Harold Weisman Barbara M. Deacon Mr. and Mrs. Lee Klingenstein Mr. and Mrs. Robert C. Hall Susan L. West Dr. Jon T. Deland Dr. Marvin and Rosalind Kochman Micalyn S. Harris and Dr. Louis J. Cutrona, Jr. Laszlo Zaborszky Charna and Tony DiSanto Roberta and Arnie Krumholz Ed and Helen Hintz Janet Zinberg and Joel Zinberg: Mr. and Mrs. James S. Dineen Mr. Denis Kulagin Mr.* and Mrs. Arnold Jurdem In Memory of Arthur D. Zinberg Elaine Katz Edlin Bonnie Englebardt Lautenberg Mrs. William J. (Ann Pfohl) Kirby 4 Anonymous Patrons Mr. Sandy Edry, The Edry Team at KWNYC Ms. Joan A. Leake Whitney Krahn Ingrid Ehrenberg and Joe Chan Wilma and Walter Leinhardt Justin R. Kush Gifts of $3,000 or More Rebecca and Martin Eisenberg Phyllis and Bernard Leventhal Arthur S. Leonard Bert and Gloria Abrams Suellen Ettinger Harriet and Stuart R. Levine Barbara and Milton Meshirer Caryl and Herbert Ackerman Mr. and Mrs. Anthony B. Evnin Amy and Frank Linde

* Deceased Susan B. and Arthur Lindenauer Stefanie W. Sheehan Mr. and Mrs. Leslie Cline Robert and Joan Pennington Ginny Mancini Gil Shiva Marian and James H. Cohen Mr. and Mrs. Peter Philipps Rena & George Martens Rhonda and Robert Silver Michaela and Leon Constantiner The Pollack Family Foundation Sorrell and Barbara Mathes Robert Silver Dr. John D. Dalack Ms. Lorna Power Douglas and Ingrid Matheson Flo and Warren Sinsheimer Mrs. Charles A. Dana, Jr. Rasika and Girish Reddy Deborah and Charles Mele The Ole Skaarup Foundation Rania and Jamal Daniel David H. and L. Amanda Rhael Jay J. Meltzer Myra and Andrew Slepoy Mr. and Mrs. Richard M. Danziger Mary Stern Grossman: Fred and Judie Mopsik Hercules and Mary Sotos Lenore and Robert Davis In Memory of Peggy Rice Dr. Carol Morris and Kim Hourihan Andrew and Patricia Steffan Ms. Christine Duque The Philip W. Riskin Charitable Foundation Ruth Newman: Linda B. Stern Rachel and Oded E’dan Missy and Allen Rosenshine In Memory of Leonard Newman Susan K. and Jeffrey M. Stern Richard and Cecelia Fabbro Martin G. Ruckel Patricia and Erik Nicolaysen Frances A. Taber and Barry Lenson Prof. and Mrs. Meyer Feldberg June and Paul C. Schorr III Mr. and Mrs. Peter P. Nitze Betty and David Tananbaum Pamela E. Flaherty Alan and Edith Seligson The Omer Foundation Paula Tarzian-Ciferni Blaine and Diane Fogg Patricia and Thomas Shiah Michael and Gabrielle Palitz Elise C. and Marvin B. Tepper Mrs. Michel Fribourg Spencer and Marlene Simmons Dr. and Mrs. Elliot Pinson Lynn and Glen Tobias Mrs. Jacqueline M. Garrett Nancy Stehle Ruy Pinto and Vera Geyer Lindsey Turner Claude Ghez, M.D. Howard and Judith Steinberg Leslie Plush and Lawrence Ubell Marsha Tosk and Seymour Ubell Maxine and Marvin Gilbert Tom and Donna Stone Joan Emily Porcaro UJA-Federation of New York Edythe Gladstein Nicki and Harold Tanner Rita and Louis V. Quintas Universal Music Classics Group Goldie Anna Charitable Trust Malcolm Thomson and Melody Sawyer Richardson Dr. Robert B. Raiber and Abbie Newman Marlene Ver Planck The Gordon Foundation Inc. Robert Toscano Mr. and Mrs. Clyde E. Rankin, III Norman H. Volk Mrs. Kathryn Greenberg Ruby Vogelfanger Dr. Everett R. Reff: Elizabeth and Dr. Harry L. Wachen Diane and Kenneth Hipkins In Loving Memory of Elaine Helena Reff Harry and Roslyn Weinrauch Jeanette S. Wagner Thomas Campbell Jackson Dana and Richard Reimer Drs. Martin and Sandra Weinstein Phyllis and Jack Wertenteil Mr. and Mrs. Stanley Kestenbaum Jane and Paul Rittmaster Kimba Wood and Frank Richardson Ellen and Avram Westin Anita Kirsten: Sheila Johnson Robbins 4 Anonymous Patrons Mary Ellen and Mitchell Williams In Memory of Marvin Kirsten Gail and Michael Rogers Dr. Carl Eugene Wilson Dr. and Mrs. Joseph M. Lane Mr. and Mrs. Kenneth Roman Gifts of $2,000 or More Dr. and Mrs. Gabe Wilson Dr. Dorothy Kim Lee and Victor Han Jeannette and Jonathan Rosen Elkan Abramowitz Dian Woodner Florence Lee Mr. and Mrs. Joseph Rosen Mr. Jonathon Adler Merryl Snow Zegar and Charles Zegar Mr. and Mrs. Joseph Lisanti Leslie and Michael Rosenberg Katherine and Paul Adler 11 Anonymous Patrons Lucy Lu and Mark Franks Anne H. and Robert D. Sack John E. McAuliffe Kim and David Adler Caroline F. Schimmel Ms. Sandra Anwiset Gifts of $2,500 or More The McClean Family Foundation Sanford J. Schlesinger and Lianne Lazetera Rose Marie Armetta Erik and Gard Anestad Robin McGarry and Joseph Franciosa Mrs. Patricia Schoenfeld Anne Aronovitch and Richard Eger Barbara Axel Richard and Ronay Menschel Elaine & Edmund Schroeder David and Winifred Atkinson Mr. Stuart Boynton Ms. Maggie Mudd and Mr. Fulvio Dobrich Wendy Schwartz Joseph Baio Roger E. Burke Kathleen O’Grady Ann Marie Scichili Janice and David Barnard Mrs. Gustavo Cisneros Mr. and Mrs. George D. O’Neill Audrey Lou Sevin Mr. and Mrs. Paul A. Becker * Deceased Janine Behrman & Alan Gover Ms. Carla Comelli Mr. Neil Friedman* and Ms. Ellen Bogolub Rosa and John H. Hovey Marta Benach Camille Cooper and Kenneth Rossner Howard and Amy Friedner Mark A. Ingram Selim and Luna Benardete Marie Costa Johanna and Leslie Garfield Martha R. Ingram Elizabeth L. Bennett Mr. Peter Croncota Dr. Marc D. Geller and Gail Fellus Kenneth and Jill Iscol Richard L. Benson Robert J. Cubitto and Ellen R. Nadler Gladys George and Stuart Orsher Mr. Mark H. Jackson and Ms. Karen Hagburg Anita and Russell Berman Dr. Michael Cucka Mrs. Carol Gertz Raphael Jacobs Mrs. Joyce C. Berman Stephen and Laura Cunningham Maurice Gilbert Trust Anita and Robert Jacobson Daniel and Vivian Bernstein Ms. Helen Cytryn Amy Gillenson and James D. Fornari Mrs. Linda M. Jerrow Jon Bernstein Florence A. Davis and Anthony* C. Gooch Joan and Sam Ginsburg Louise Kaminow Kathy and Gene Bernstein Ms. Jamie DeRoy Dr. Louise Godine Robert Kandel and Kristi Witker Mitch and Gretel Bernstein Jennifer L. DeVries Gay and Carl Goldman Judith and John Kane Janie and Thomas Bezanson Dr. and Mrs. Carlos Diaz-Matos Barbara Goldstein Ginger Karren: Ms. Wendy Bicovny Ruth and Robert Diefenbach E. Robert and Barbara Goodkind In Memory of Arnold and Marie Volpe Alison Blackman and John Dunham Louis Echevarria Mr. and Mrs. Harry Gould, Jr. Mr. and Mrs. Richard B. Katz Dr. and Mrs. Melvyn Bleiberg Terri Edersheim and B. Robert Meyer Judy and George L. Graff Gene Kaufman and Terry Eder-Kaufman Mr. Thomas Block and Ms. Marilyn Friedman Sonia Eisenberg The Grateful Foundation Rachel Kaufman and Nagib Touma Deborah Bohr and James Oakes Karen and Jay Eliezer Annette Green Yukako Kawata Elizabeth Bollenbacher John A. Elliott Matthew Greenberg Mr. and Mrs. Peter W. Keegan Drs. A. Boskey and J. Gerstein Ms. Stephanie Endy Hilda and Paul Greenfield Mr. and Mrs. James M. Kendrick Jane Eisner Bram, Ph.D. Rosalyn and Irwin Engelman Stewart and Lois Gross Mr. Wilmot H. Kidd III & Mrs. Julie J. Kidd Ms. Roxanne Brandt Charles Entelis Peter and Judy Gruenberger Cornelia L. Kiley: In Loving Memory of Frank J. Casa The Brown Foundation Edward V. Evanick Mr. and Mrs. Geoffrey K. Gund Mr. William Seward and Ms. Michelle Kim Nancy and Howard Brown Dr. and Mrs. Thomas C.N. Evans Mr. and Mrs. Mingwei Guo Lois and Kenneth Kirschenbaum James T. Brown: Robert L. Fay Lawrence and Joyce Haber Shirley L. Klein In Memory of Alice B. Brown Joan and William Felder Dr. Douglas Francis Hager Betsy and Robert Knapp Kenneth P. Browne Joseph Field and Ariane de Vienne Helen and Peter Haje June H. Koizumi Jane and George Bunn Martin Muni Filler Edward Hall Dr. and Mrs. Arthur E. Kook Paul and Rodica Burg Charles and Susana H. Finkel Professor John Hamilton and Virginia Joyce Susan and Edward Kopelowitz Judith and Robert Burger Michael Finkelstein and Sue-Ann Friedman Marian Hamilton Mr. and Mrs. Francis Koppeis Mr. and Mrs. Peter Burk Mr. and Mrs. Emil Sherer Finley Daniel M. Healy Murray and Ellen Koppelman Sergey Butkevich and Irina Gulina Annette E. Fisherman and Dr. Barry Fisherman Phyllis Heilborn The Kosloff Foundation Andrea Capodanno Elizabeth and Irvine Flinn Michael and Lesley Heller Elinor Weiler Krach Deborah Carmichael Dr. and Mrs. Roland Folter The Rochelle and David A. Hirsch Foundation Robert and Phyllis Kuchner Bonnie and Clive Chajet Sharif Ford Mr. David Hirst: Ichun Lai and Michael Kitsis Kenneth H. Chase Liz and Michael Foster In Memory of Leonard “Lenny” Cohn and Jules Arnold Casey and Sam Lambert Audrey and Jerry Chatzky Wm. Fox Jr. Foundation / Dushyant and Neela Chipalkatty Barbara W. Fox-Bordiga Heinz Hofmeister Mrs. W. Loeber Landau Esther Cho Mr. and Mrs. Jeffrey Friedman Jeffrey A. Horowitz Dr. Raymond and Ms. Adriana LaRaja Mrs. Dupre Cochran Karen and Edward A. Friedman Christopher Housman Alain and Helene Lebleu

* Deceased Dr. Harold Lebovitz and Dr. Janet Norton Akemi Nozaki and Westbrook Johnson Carol Schepker Carol Tittle Ms. Marian Leibowitz Joan B. O’Connor Nadine Schramm, Budd Enterprises Ltd. Mr. Blake Tomnitz Mr. Julius Leiman-Carbia Sheldon and Judith Ohren Mrs. Frances Schulman Phyllis Trible Dr. Martin and Rosanne Leshner Mr. Donatus Olumhense Paula Schutte Mr. and Mrs. J. Ronald Trost Joseph S. Lesser: Pablo Ordorica Lenero Mr. and Mrs. Jeffrey W. Schwab Robert Tung In Loving Memory of Samene Webber Lesser Margaret M. and Daniel P. O’Shea Peter Scola Mr. Chandana Ukwatte Mr. Lionel Leventhal Dr. Anthony Paciello & Dr. Dianne Rose Mr. and Mrs. William C. Scott Joseph G Valenza and Patricia Frost Stuart E. Leyton and Linda M. Wambaugh Ms. Christine Panas and Mr. Artur Ribero Mark Seader Max Van Gilder and Georgette Jasen Cynthia Lilley and Peter Heinrich Dr. David Payne and Mrs. Nancy Payne Leonora Seid and Larry Fischer Carol J. VanBesien Ms. Millicent R. Liotta Arthur Peck Michael N. Sekus and Bianca A. Russo Dr. David Waldman and Dr. Georgia Lind Mr. and Mrs. George Little Martin Peretz Morton and Sandra Semel Foundation Alexander and Claire Wang Mr. Francis and Mrs. Susan Lloyd: Dr. Arlene Perkins Taylor and Sara Senatore Michele Warman and Larry Hirschfield In Memory of Ann Longmore Joe Pfifferling Veronica H. Sessler Scott F. Warner Dr. Andrew T. Lupo, Jr. Ronnie and William Potter Leonard and Lois Sharzer Harriet and Paul Weissman The Honorable and Mrs. Earle Mack Mr. and Mrs. Mark Ptashne Dewey K. Shay Joan Weltz and Arthur Field Antonio and Teresa Madero Dr. Martha J. Radford Dr. Davida Sherwood and Mr. Robert L. Manger Joyce West Edward and Marisol Mafoud Ms. Ellen Rampell Selma and Alvin Silverman Foundation Judy and Josh Weston Barbara and J. Robert Mann, Jr. Janet Ramsdal Thanks Jon Deak Nancy Craig Simmons Dr. Howard Wexler Justin A. Manus Naoko and Spencer Reames Marlene Marko Skeist, MD and Loren Skeist Barbara and Ken White Mr. and Mrs. Les Marshak Susan and Arthur Rebell Isaac and Ellen Sonsino Mr. Randolph Williams Gillian Marshall Barbara and Peter Regna Dr. and Mrs. Alan B. Sperber Saul and Roberta Wolfe Andrew and Melissa Martin Jim and Jean Rensink Si Spiegel Saul L. Zalkin and Cedric Walker Jane Martinez Franci and Joe Rice Susan Stamler Mrs. Linda Zaro Mr. and Mrs. Myron Mayer Dr. and Mrs. Howard Rodin Elizabeth and Peter Stegemann Dr. Alan Zients and Dr. Ronda Shaw Cheryne and David McBride Inge Rose: Marlene Steger: Mark Zorger Millie and David McCoy In Memory of Dr. Martin E. Rose In Memory of Arthur M. Bernhardt Dr. Harriet Zuckerman Mr. John McCrosky and Ms. Corinne Samios Karen and Ken Rosen Dr. Bettie Steinberg 20 Anonymous Patrons Mr. Rodney McDaniel Ms. Barbara Rosenthal Dr. Claire B. Steinberger Toni and Patrice McNicoll Alfred and Jane Ross Foundation Susan C. Stewart, M.D. Gifts of $1,200 or more Linda and Sheldon Meltzner Dr. and Mrs. Michael G. Rothenberg Harriet Stollman Jill Abbinanti Brendan H. Miller Herbert and Ernestine Ruben Beverley and Sabin Streeter Virginia Jean Ackerman Mr. David Mirkin and Mrs. Karen Piacentini Mark and Ellen Rutenberg David P. Stuhr The Adnim Foundation Eben Moglen Dr. and Mrs. Eduardo A. Salvati Patricia Ann Sweeney Mr. and Mrs. Rafael Alcantara-Lansberg Mr. and Mrs. Charles F. Morgan Mr. Marvin Sandler and Elaine Tai David Alge & Nan Mutnick Dr. Mimi Berman-Sandler Helen K. Morik Gloria and Philip Talkow Alston & Bird LLP Dr. Richard L. Saphir William M. Nathan Dr. Jean E. Taylor Dr. Sherry Barron-Seabrook and Constance Hoguet Neel and Richard Neel Peter Scarbrough Priscilla and Jerome Teich Mr. David Seabrook Stevan Nicholas Mr. and Mrs. Henry B. Schacht Karen N. Tell Sandra K. Bendfeldt Floyd Norris and Chris Bockelmann Sheira and Steven Schacter Francee and Michael Tendler Mrs. Mortimer Berkowitz III Judith Scheer * Deceased Dr. David R. Bickers Stuart and Isabel Kessler Mr. and Mrs. Gilbert Seligman Roberta and Stanley Bogen Kathy Klingenstein and Robert Miller Mr. and Mrs. Howard A. Shapiro Ronald Bramsen Mr. and Mrs. John Komar Ms. Angela Lansbury Shaw Mrs. Louise L. Braver Mr. David Kronick Seth Sherman Chris Brezil Thomas Lalla Cynthia L. Smith Charles S. Brown Mr. and Mrs. Allan Larsen Howard V. Smythe Ambassador and Mrs. W. Lyons Brown, Jr. Paul Lauter Mr. and Mrs. Richard I. Solomon Douglas Bunim Mr. and Mrs. Raymond P. LeFebvre Dr. Ioannis Stamos Mrs. Barbara and Mr. James Craig Burley Marlene Lengner Sanford Sternlieb Mr. and Mrs. Samuel C. Butler Joanne Lyman Virginia K. Stowe Mr. and Mrs. Edmund M. Carpenter Dr. Robert L. Madison Mr. and Mrs. John Sweeney Lola L. Chlupsa Victoria and James Maroulis Catherine Tenney Mrs. and Mr. Young Sook Chong Mrs. Jill Marsteller Mr. and Mrs. David Tezanos Nicholas Comanos Mr. and Mrs. Larry Maxwell Aaron Thomas Kathleen De Riesthal Barbara McCullough Suzanne Thouvenelle and Dennis J. Deloria Jay Dias Kathleen McKenna Mr. Andrew P. Tothy and Ms. Mary E. Harrigan William Diggs Robert McQuillin Ms. Mara Vilcins Dr. Erik Eikenberry Mr. and Mrs. Brian W. McTiernan Dorothy M. Walker Ken Fitzgerald and Ruby Carr Mr. David Montague and Mr. Michael Selter Howard Wallick and Freda Rosenfeld Elizabeth Franks Ellen Morrison Dong-Yun (Tracy) Wang Shaun M. Gilboy Jeremy I. Moss Dr. and Mrs. Robert J. Wasiczko Alice Gleason Lois and Andre Nasser Christy Welker Shari Gold Heidi Nitze Judith Wolf Amy S. Goldberger Landis Olesker F. Dmitri Wolkoff Mrs. Grecia Gross Mrs. Kathy Olsen 1 Anonymous Patron Peter Hamilton Barry Ostrowsky Ira Haupt II Sarah E. Pace Karen Hedlund Margaret Peist Mr. and Mrs. Kenneth L. Henderson Dr. Donald Pizzarello HLHM, Inc Mr. and Mrs. Richard N. Porter Kathleen C. Howard Mr. and Mrs. Alonzo C. Rand Ms. Deirdre A. Howley and Mr. Ira A. Eisenstadt Joan M. Reicherter Bernardo and Mette Huberman Elizabeth Rosen Marcie and Fred Imberman Stephen Rubin Mr. and Mrs. Maurice H. Jacobs Sagansky Family Charities John, Mary & Bernard Jacobs Foundation, Inc. Patricia Saigo Dr. Beverly Elmyra Johnson George H. Sands MD Dr. and Mrs. Sung K. Kang Mrs. Gleniss Schonholz William Kelly and Jeanette Rodriguez Mr. and Mrs. Alan H. Schwartz

* Deceased (As of August 31, 2017) EDUCATION FUND

The Carson Family Charitable Joseph and Sophia Abeles Foundation Peter Jungen Solender Family Funds Trust Deborah and Charles Adelman Alexandra Jupin and John Bean The Staten Island Foundation Kathi and Peter Arnow Anna-Maria and Stephen Kellen Foundation Alan and Katherine Stroock Fund The Hearst Foundations The ASCAP Foundation Ralph W.* and Leona Kern Theresa S. Thompson Evalyn E. and Rose M. Badgeley Residuary Charitable Trust C.L.C. Kramer Foundation Tiger Baron Foundation Stephen E. Milman The Theodore H. Barth Foundation, Inc. Elroy and Terry Krumholz Foundation UJA-Federation of New York The Bay and Paul Foundations Honey M. Kurtz Uncle Larry’s Fund Susan and Elihu Rose Susan Beckerman Miller Khoshkish Foundation Carol Andrea Whitcomb Mary and James G. Sandra and Harvey Benenson Brendan H. Miller 2 Anonymous Patrons Wallach Foundation Frank and Lydia Bergen Foundation Mr. and Mrs. A. Slade Mills, Jr. Shirley Brodsky Rosalind Miranda and John McLintock* The Bulova Stetson Fund Mitsui & Co. (U.S.A), Inc. The Ralph M. Cestone Foundation Carol and David Morse Herbert M. Citrin Charitable Foundation National Endowment for the Arts Carolyn and David Cohen New York City Department of Cultural Affairs Colgate-Palmolive Company New York State Council on the Arts Constans Culver Foundation Kathleen O’Grady Hugh Culverhouse and The Domenico Paulon Foundation Eliza Perlmutter Culverhouse Janet Ramsdal: Thanks Jon Deak Dr. Jonathan T. Deland Mr. George Reeves and Ms. Ross Wisnewski Christine Duque Mrs. Frederick P. Rose* Barbara Ehrlich and Stuart M. Johnson The Hon. Helen Rosenthal, New York City Donna and Richard Esteves Council Irene Esteves and Steve Pearce Leo Rosner Foundation Seth E. Frank The Rudin Foundation, Inc. Dale M. Frehse Arlene Lidsky Salomon and Mr. Neil Friedman* and Ms. Ellen Bogolub Chester B. Salomon Suzan Gordon Mrs. Frances Schulman Jan M. Guifarro Adolph and Ruth Schnurmacher Foundation, Inc. Barbara Haws and William Josephson Florence L. Seligman Alexandra and Paul Herzan In Memory of Judith B. Sellner Muna and Basem Hishmeh Bonnie Ward Simon Susan G. Jacoby The C.F. Roe Slade Foundation Jephson Educational Trusts

* Deceased (As of August 31, 2017) HERITAGE SOCIETY

Gregory and Janet Abels Rev. Chawanda Charae Elizabeth T. Garvey Mr.* and Mrs. Murray S. Katz Mr. and Mrs. Lawrence D. Ackman Josseline Charas Elizabeth and Larry Gelb Mindy Kaufman Nancy Allen Norma Chazen Mrs. Carol Gertz Sara Kennedy Leo Alves and Patricia Grove David Cohen and Dr. Sylvia Katz Johann Mrs. Neal Gilliatt Thomas C. and Jody P. King Janet J. Asimov Betsy Levitt Cohn Nora Lee Glass Ms. Susan Grant and Mr. Brian A. King Ellyn Amron Austin Mrs. Thais Cohrone Joyce Golden Jerry Kleinman Gail F. Baker Charles E. Cole Miriam Goldman Andrea Klepetar-Fallek Sally A. Baker Mrs. Almira S. Couch Katherine Greene Joan D. Kotzenberg Halee Baldwin Mrs. James W. Crystal Mrs. Lenore Greiman Marilyn and Paul Kramer P. Richard Bauer Mrs. Ann Denburg Cummis Kathleen Gresser-Bennett Barbara and Stuart Kreisberg Ruth L. Bauman: Mr. Michael V. Curran Edmund A. Grossman Marilyn Lamar In Memory of Helen Bauman Harrison R.T. Davis Paul and Diane Guenther Nora Roberts Leidesdorf Judith-Anne Beard Connie and Stephen Delehanty Susan Gullia Arthur S. Leonard Dr. Kurt Becker and Ms. Joyce Weinstein Mr. Frank DelliSanti RPh. Dr. and Mrs. John B. Haney Marilyn J. Liebowitz Marion Benedict Dr. Anthony Demma Gurnee and Marjorie Hart John C. Lieff David* and Marion Benedict Glenn Dicterow Francis J. Harvey Jr. Catherine Lomuscio Suzanne Bennett Adnan Divjan Mrs. Ross Hastings Florence Lotrowski Joan Benson Dr. Richard Donovan Rita E. and Gustave M. Hauser Virginia S. Lyon Mr. and Mrs. Charles A. Bernheim Diane C. Dunne John B. Hebard Carol and Daniel Marcus Davi Ascher Strauss Bernstein Dr. Joan Eliasoph Arthur and Lyn Hirsch Cynthia and Michael* Marks Elizabeth Alford Beskin Jean Ellingson Diane Deschamps Hockstader Gillian Marshall Alison Blackman and John Dunham Robert E. Evans Drs. Noel and Patricia Holmgren Mr. and Mrs. Gerald Matacotta The Honorable and Mrs. Donald M. Blinken Romana R. Farrington Ph.D. and Caroline Stephens Holt Ingrid and Douglas Matheson Ruth Block George L. Farrington Ph.D. Dr. and Mrs. Irwin Honigfeld Millie and David McCoy Barbara Herbst Bohmart: Richard A. Feit Lun Chia Hsu Barbara McCullough In Loving Memory of Joel K. Bohmart, Esq. James Ferrara Barbara C. Humphrey Thomas J. and Diahn McGrath Edith S. Bouriez Nancy Dotterer Field Andre M. Hurni and Deborah A. Kempe Ann McHugh, Ph. D. Robert and Carol Braun Stephen W. Fillo Merry Ivanoff Millicent McKinley Eliane Bukantz Stuart M. Fischman Edgar E.* and Renee Jackson William H. Mears C.T. Bundy 2D Elsa Fisher Mrs. Marianne Jaffe Phyllis Melhado Lois Burke Lorraine Fox Mrs. Marcia Joondeph Phyllis J. Mills Roger F. Casey* Herbert J. Frank William Josephson Rosalind Miranda and John McLintock* Judy Champion Dale M. Frehse Peter H. Judd Anne M. Morris Naomi J. Chandler Chaim S. Freiberg Marjorie B. Kahn Andrew and Linda Mossa Dr. and Mrs. Sidney Nearenberg Carol and Chuck Schaefer Michele Zalkin Charles F. and Anne M. Niemeth Myrna W. Schore Saul L. Zalkin Anita O’Gara Rosa L. Schupbach Perri Zweifler Ronald Oleet Connie and Durelle Scott Mr. and Mrs. Ernest Zweig Mrs. Robert E. Pabst John Seaman Jonas Zweig Barbara S. Pollack Robert D. Sholiton 16 Anonymous Patrons Susan Porter Michael F. Shugrue Eleanor X. Pripadcheff Bruce Silberblatt Francis Rasmus Jeffrie J. Silverberg Alice W. Read Ruth M. Silverman Mrs. Kurtis Reed Mrs. Harold Smith Angela Reich, Ph.D. Elaine D. Solomon Joan Reicherter Dr. and Mrs. Peter Som Mr. and Mrs. Neil Remland Kaythryn E. Spence Jack H. Resnick and Rhoda B. Resnick Stephen Stamas Laura A. Ressner Nicholas John Stathis Martin Riskin Martha Roby Stephens Evelyn and Paul Ronell Ruth and Harold* Stern Paula L. Root PaulaMarie Susi Pearle Rosenblatt Lynda Tepperman Jay S.* and Gladys M. Rosenthal Leo J. Tick Mr.* and Mrs. Seymour A. Rosenthal Leonard Trentin Seth Rosner Edith F. Unger Joann Ross Sophie Untermeyer Dede and Michael Rothenberg Helen Waltuck Gretchen Gair Royce Nick and Sally Webster Ravi Rozdon Joan Weltz and Arthur Field Dr. Cheryl Rubin and Mr. Gordon Borteck Barbara B. and Frank P. Wendt Carol Brown Ruffo and Daniel J. Ruffo Lucille Werlinich Mrs. Richard B. Salomon Jess Weston* and Mary Mok Weston Judy and Dirk Salz Carol Andrea Whitcomb Gladys Salzman Marty Wolf Frank and Lolita Savage Zen and Babs* Yonkovig

* Deceased (As of August 31, 2017) VOLUNTEER COUNCIL

Executive Committee Steering Committee Hospitality Patron Lounge Stefanie Landsman, President Matt Feinstein Gerry Becker (Schedules, Special Correspondence) Adele Young Orchestra / Staff Coffee Breaks Diane Chesin Kathy Emery Immediate Past President Ellen Haas, Executive Vice President Phyllis Rubin Tom Buffkin Schedules (Galas, Hospitality, Subscriber Appreciation Month) Susan Hom Archives Meetings and Receptions Suellen Ettinger, Vice President Rena Schklowsky Edna Harris Special Correspondence (Concert Coordinator, Education, Historian, Open Rehearsals) Linda Rogers Bill Gerdes Concert Coordinator Pamela Stewart, Vice President Joan Conner Membership / Mentoring Staff Assistance / Special Projects (Guest Services, Newsletter, Tour Packets) Tom Buffkin Amy Friedner Education Gloria Goldberg Edna Harris Jo-Ann Winnik, Vice President Maria Bustillo Katrina Hering (Adele Young Orchestra / Staff Coffee Breaks, Dorothy Kalson Leah Williams Subscriber Appreciation Month Gift Kiosk / Book Table, Meetings and Receptions) Nona Ventry Susan Blackburn Newsletter Henry Wong, Vice President (Archives, Parks, Technology) Gift Kiosk/Book Table Marianne Heiden Technology Froma Eisenberg Barry Schwartz Tom Buffkin Maida Hirschkorn, Secretary Edith Enriquez Leah Williams (Membership / Mentoring, Patron Lounge, Amy Friedner Tour Packets Staff Assistance / Special Projects) Naomi Isogai Nominating Laura Bronson Jill Jennings Nancy Rubinger Dagmar Miller Susan Miller Barry Schwartz Carolyn Ramsdal Open Rehearsals Doris Schwartz Ann Seifert Guest Services Elizabeth Hix Parks—2017 Dede Rothenberg Carolyn Ramsdal Nona Ventry Historian Ann Seifert Members Laury Franks Stefanie Landsman Louis Sabin Jiayue Zheng Sylvia Arnowich Anna Fridman Samuel Lane Sara Sadin Gay Zizes Gail Baker C. Robert Friedman Karen Lehmann-Eisner Barbara Schachter Joanna Barouch Harriet Friedman Michael Leigh Linda Schain Reiko Barten Amy Friedner Dolores Lerman Susanna Schauer Deanna Baum Antawn Fuqua Harriet Levine Judith Scheer Judith-Anne Beard Lenore Gensior Judith Levine Rena Schklowsky Gerry Becker William Gerdes Sybil Levine Sari Schlussel-Leeds Andrea Becker Pearl Glassberg Chen Li Evelyn Schneider Simone Belda Gloria Goldberg Jan Linsky Petra Scholder Isa Benveniste Seth Goldstein Carol Lipsky David Schuster Lana Berke Jeremy Gottlieb John Maher Susan Schuur Helen Birenbaum Elaine Grohman Josephine Mazur Barry Schwartz Susan Blackburn Ellen Haas Rosalie Mazzalupo Doris Schwartz Debra Blank Judith Haddad Millicent McKinley Ann Seifert Theodora Bookman Mary Lynn Halland Dagmar Miller Sandra Semel Myra Braverman Gloria Halperin David Miller Audrey Sevin Dell Brenner Edna Harris Susan Miller Laurie Shapiro Laura Bronson Marianne Heiden Mary-Jean Monahan Diana Shelkov Thomas Buffkin Sherrye Henry Vernon Mosheim Ellen Shwarts Maria Bustillo Katrina Hering Patricia Murphy Ruth Silverman Diane Chesin Imogene Hess Stephanie Murray Linda Simon Joan Conner Maida Hirschkorn Lilya Nirenberg Margie Stern Carol Dallos Elizabeth Hix Jennifer Noble Pamela Stewart Daniel DeBonis Janet Hoffman Carol Novak Harriet Stollman Connie Delehanty Susan Hom Isabel Olson Norman Strauss Marjorie Dembitzer Naomi Isogai Sooky Park Lilia Streinger Lisa DiPasquale Jill Jennings Marion Pearl Phyllis Topol Irwin Drangel Timothy Jones Diana Polak Nona Ventry Marion Edwards Sally Kahan Todd Porter Michelle Wang Froma Eisenberg Dorothy Kalson Carolyn Ramsdal Frank Weber Kathy Emery Louise Kaminow Shirley Rausher Sandra Weinstein Phyllis Epstein Ferne Katleman Sheri Reiss Nancy Wenton Suellen Ettinger Richard Kelly Dolores Roebuck Nada Westerman Polina Ezrokh Sophia Kim Stephanie Roger Elinor Wexler Matthew Feinstein Janet Kispert-White Linda Rogers Corrine Whalen Minnie Finkelstein Florence Kohn Dede Rothenberg Leah Williams Carol Fiorello Padma Krishnan Phyllis Rubin Jo-Ann Winnik Sheila Fox Naomi Landes Nancy Rubinger Henry Wong

(As of August 31, 2017) EisnerAmper LLP 750 Third Avenue New York, NY 10017-2703 T 212.949.8700 F 212.891.4100

www.eisneramper.com INDEPENDENT AUDITORS' REPORT

Board of Directors The Philharmonic-Symphony Society of New York, Inc. New York, New York

Report on the Financial Statements

We have audited the accompanying financial statements of The Philharmonic-Symphony Society of New York, Inc. (the "Society"), which comprise the statements of financial position as of August 31, 2017 and 2016, the related statements of activities and cash flows for the years then ended, and the related notes to the financial statements.

Management's Responsibility for the Financial Statements

The Society's management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgments, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the organization's preparation and fair presentation of the financial statements, in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the organization's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of The Philharmonic-Symphony Society of New York, Inc. as of August 31, 2017 and 2016, and the changes in its net assets and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.

New York, New York December 5, 2017 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Statements of Financial Position (amounts in thousands)

August 31, 2017 2016

ASSETS Current assets: Cash and cash equivalents $ 6,109 $ 8,772 Interest, concert fees and other receivables 117 1,284 Contributions receivable - current, net (Note 3) 14,653 7,964 Prepaid expenses and other current assets 2,524 1,770

Total current assets 23,403 19,790

Noncurrent assets: Contributions receivable - noncurrent, net (Note 3) 27,369 11,204 Notes receivable 194 235 Contributions receivable - permanently restricted, net (Note 3) 14,455 21,036 Beneficial interest in lead trust 9,717 12,230 Endowment investments (Note 2) 195,123 185,896 Other investments (Note 2) 15,144 14,477 Property and equipment, net (Note 4) 30,955 24,390

Total noncurrent assets 292,957 269,468

$ 316,360 $ 289,258

LIABILITIES Current liabilities: Accounts payable and accrued liabilities $ 3,900 $ 5,188 Deferred revenue - use-interest of beneficiary (Note 1) 3,984 4,207 Deferred revenue from ticket sales and other 14,347 13,603

Total current liabilities 22,231 22,998

Noncurrent liabilities: Accrued pension liability (Note 5) 38,591 47,160 Accrued postretirement benefits (Note 6) 5,165 5,015 Annuities payable 816 869

Total noncurrent liabilities 44,572 53,044

Total liabilities 66,803 76,042

Commitments and contingencies (Note 12)

NET ASSETS Unrestricted, net deficit (Note 8): Accrued pension liability and postretirement benefit (43,756) (52,174) Board-designated, functioning as endowment (Note 10) 7,201 7,609 Accumulated losses on endowment funds (Note 10) (17,708) (17,073) Other 17,916 11,230

(36,347) (50,408)

Temporarily restricted (Note 9) 117,477 93,949 Permanently restricted (Note 10) 168,427 169,675

Total net assets 249,557 213,216

$ 316,360 $ 289,258

See notes to financial statements. 2 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Statements of Activities THE(amounts PHILHARMONIC-SYMPHONY in thousands) SOCIETY OF NEW YORK, INC.

Statements of Activities Year Ended August 31, (amounts in thousands) 2017 2016 Temporarily Permanently Year Ended August 31, Temporarily Permanently Unrestricted Restricted Restricted Total Unrestricted Restricted Restricted Total 2017 2016 Income from orchestra activities: Temporarily Permanently Temporarily Permanently Concert receipts and tour sponsorships $Unrestricted 27,897 Restricted Restricted $ Total 27,897 $Unrestricted 26,757 Restricted Restricted $ Total 26,757 Recording and broadcasting reimbursements 487 487 825 825 Income from orchestra activities: Concert Totalreceipts income and tourfrom sponsorships orchestra activities $ 27,897 28,384 $ 27,89728,384 $ 26,757 27,582 $ 26,75727,582 Recording and broadcasting reimbursements 487 487 825 825 Orchestra activity expenses (Note 15): Subscription Total income and other from concerts orchestra activities 28,384 40,806 28,384 40,806 27,582 41,330 27,582 41,330 Student concerts 3,102 3,102 3,021 3,021 Orchestra Free park activity concerts expenses (Note 15): 2,627 2,627 2,757 2,757 Subscription Concerts on and tour other concerts 40,806 10,523 40,806 10,523 41,330 7,825 41,330 7,825 Student Recording concerts and broadcasting 3,102 1,084 3,1021,084 3,021 1,626 3,0211,626 Free park concerts 2,627 2,627 2,757 2,757 Concerts Total on tour orchestra activity expenses 10,523 58,142 10,52358,142 7,82556,559 7,82556,559 Recording and broadcasting 1,084 1,084 1,626 1,626 Loss from orchestra activities (29,758) (29,758) (28,977) (28,977) Total orchestra activity expenses 58,142 58,142 56,559 56,559 Other income: Loss Gifts, from grants orches andtra bequests activities (29,758) 19,021 $ 30,424 $ 5,181 (29,758) 54,626 (28,977) 20,993 $ 26,146 $ 25,495 (28,977) 72,634 Special events revenue (net of direct benefit to donors Other income: of $1,303 and $1,229 for 2017 and 2016, respectively) 4,113 4,113 3,526 3,526 Gifts, Investment grants andreturn bequests used for operations under spending 19,021 $ 30,424 $ 5,181 54,626 20,993 $ 26,146 $ 25,495 72,634 Special rate events (Note revenue2) (net of direct benefit to donors 489 10,417 10,906 563 10,920 11,483 of $1,303 and $1,229 for 2017 and 2016, respectively) 4,113 4,113 3,526 3,526 Investment Total return other used income for operations before release under from spending restrictions 23,623 40,841 5,181 69,645 25,082 37,066 25,495 87,643 rate (Note 2) 489 10,417 10,906 563 10,920 11,483 Net assets released from restrictions (Note 9) 25,185 (18,285) (6,900) 0 28,443 (28,443) 0 Total other income before release from restrictions 23,623 40,841 5,181 69,645 25,082 37,066 25,495 87,643 Total other income 48,808 22,556 (1,719) 69,645 53,525 8,623 25,495 87,643 Net assets released from restrictions (Note 9) 25,185 (18,285) (6,900) 0 28,443 (28,443) 0 Supporting services expenses: Management Total other and income administration 48,808 15,510 22,556 (1,719) 69,645 15,510 53,525 14,961 8,623 25,495 87,643 14,961 Fund-raising 4,722 4,722 4,679 4,679 Supporting services expenses: Management Total andsupporting administration services expenses 15,510 20,232 15,51020,232 14,961 19,640 14,96119,640 Fund-raising 4,722 4,722 4,679 4,679 (Deficiency) excess of operating income over expenses (1,182) 22,556 (1,719) 19,655 4,908 8,623 25,495 39,026 Total supporting services expenses 20,232 20,232 19,640 19,640 Non-operating activities: (Deficiency) Net assets excess released of operating from restriction income due over to endowment expenses (1,182) 22,556 (1,719) 19,655 4,908 8,623 25,495 39,026 appropriations in excess of spending rate 6,977 (6,977) 0 3,341 (3,341) 0 Non-operating (Increase in) activities: recovery of underwater funds (Note 10) (636) 636 0 (3,598) 3,598 0 Net Change assets in released value of fromsplit-interest restriction agreements due to endowment (71) (71) (254) (254) Investment appropriations gains in(losses) excess after of spending applying rate spending 6,977 (6,977) 0 3,341 (3,341) 0 (Increase rate (Note in) recovery 2) of underwater funds (Note 10) (636) 363 7,313 636 471 8,1470 (3,598) (371) 3,598 (5,676) (49) (6,096) 0 Change in value of split-interest agreements (71) (71) (254) (254) Investment Change in gainsnet assets (losses) before after adjustments applying spending 5,451 23,528 (1,248) 27,731 4,026 3,204 25,446 32,676 Pension rate (Note and 2)other postretirement plan adjustment 8,610 363 7,313 471 8,147 8,610 (12,151) (371) (5,676) (49) (6,096)(12,151)

Change Change in in net net assets assets before adjustments 5,45114,061 23,528 23,528 (1,248) (1,248) 27,731 36,341 4,026 (8,125) 3,204 3,204 25,446 25,446 32,676 20,525 Net Pension assets and(deficit other in netpostretirement assets), beginning plan adjustment of year (50,408) 8,610 93,949 169,675 213,216 8,610 (12,151) (42,283) 90,745 144,229 (12,151) 192,691

ChangeNet assets in net (deficit assets in net assets), end of year $ 14,061(36,347) $ 23,528117,477 $ 168,427 (1,248) $ 36,341249,557 $ (8,125)(50,408) $ 3,20493,949 $ 25,446169,675 $ 20,525213,216 Net assets (deficit in net assets), beginning of year (50,408) 93,949 169,675 213,216 (42,283) 90,745 144,229 192,691

Net assets (deficit in net assets), end of year $ (36,347) $ 117,477 $ 168,427 $ 249,557 $ (50,408) $ 93,949 $ 169,675 $ 213,216 See notes to financial statements. 3

See notes to financial statements. 3 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Statements of Cash Flows (amounts in thousands)

Year Ended August 31, 2017 2016

Cash flows from operating activities: Change in net assets $ 36,341 $ 20,525 Adjustments to reconcile change in net assets to net cash (used in) provided by operating activities: Depreciation and amortization 1,356 1,525 Bad debts expense 495 217 Net change in unrealized gains on investments (11,667) (9,757) Net realized (gains) loss on sales of investments (5,431) 6,620 Donated securities (3,702) (14,734) Proceeds from sales of donated securities 3,665 14,649 Permanently restricted contributions (9,164) (10,996) Changes in: Interest, concert fees and other receivables 1,167 (977) Contributions receivable - current (7,184) (680) Prepaid expenses and other current assets (754) 760 Contributions receivable - noncurrent (16,165) (3,960) Contributions receivable - permanently restricted 6,581 (14,038) Beneficial interest in lead trust 2,513 (856) Accounts payable and accrued liabilities (1,288) 1,703 Deferred revenue - use interest of beneficiary (223) (367) Deferred revenue from ticket sales and other 744 28 Accrued pension liability (8,569) 12,641 Accrued postretirement benefits 150 423 Annuities payable (53) 130

Net cash (used in) provided by operating activities (11,188) 2,856

Cash flows from investing activities: Purchases of property and equipment (7,921) (11,534) Collections of notes receivable 77 4 Issuance of notes receivable (36) (39) Purchases of investments (73,920) (53,934) Proceeds from sales of investments 81,161 55,929

Net cash used in investing activities (639) (9,574)

Cash flows from financing activities: Permanently restricted contributions 9,164 10,996

Net change in cash and cash equivalents (2,663) 4,278 Cash and cash equivalents, beginning of year 8,772 4,494

Cash and cash equivalents, end of year $ 6,109 $ 8,772

Supplemental disclosure of cash flow information: Donated services $ 1,158 $ 93

See notes to financial statements. 4 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

[a] Organization:

The Philharmonic-Symphony Society of New York, Inc. (the "Society") is a not-for-profit membership corporation, incorporated in New York State in 1853 and located at Lincoln Center in New York City, the purpose of which is to support a symphony orchestra, the New York Philharmonic (the "Philharmonic"), and to foster an interest in and enjoyment of music in New York City and the world.

The Society qualifies as a Section 501(c)(3) organization, exempt from federal income taxes under Section 501(a) of the U.S. Internal Revenue Code (the "Code"), as well as from New York State and New York City income taxes under comparable laws. The Society has also been classified as a publicly supported organization under Section 509(a) of the Code and qualifies for the maximum charitable contribution deduction by donors.

[b] Financial reporting:

1) Basis of accounting:

The accompanying financial statements of the Society have been prepared using the accrual basis of accounting and conform to accounting principles generally accepted in the United States of America ("U.S. GAAP"), as applicable to not-for-profit organizations.

2) Use of estimates:

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses, as well as the disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

3) Cash and cash equivalents:

For financial-reporting purposes, the Society considers all highly liquid investments, purchased with an original maturity of three months or less, to be cash equivalents, except for cash that is held as part of the investment portfolio.

4) Investments:

The Society’s investments in equity securities and fixed income securities are reported at their fair values in the statement of financial position based on quoted market prices, with a portion of cash and cash equivalents included as part of the investment portfolio.

The Society has investments in limited partnerships and limited liability companies which are considered to be alternative investments, for which readily determinable fair values do not exist. The underlying holdings of the Society's alternative investments consist principally of publicly traded domestic and international equity securities. The fair value of the alternative investments has been estimated based on the respective net asset value ("NAV") per share (or its equivalent unit) of each investment, as reported by the investment manager. Because of the complex management structures and natures of the underlying investments and the inherent uncertainty of the valuation of the alternative investments, the Society's management and its various investment managers monitor their positions to reduce the risk of potential losses due to changes in fair values or the failure of counterparties to perform on a routine basis.

5 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (CONTINUED)

[b] Financial reporting: (continued)

4) Investments: (continued)

Management believes the carrying amount of the investments in non-publicly traded securities is a reasonable estimate of their fair value. However, such estimated fair values may differ significantly from the values that would have been used had a ready market for these investments existed.

Certain of the Society's investment managers enter into derivatives contracts held or issued for trading purposes. These investments are subject to various market risks, which arise from changes in securities values and other market conditions. As part of their overall trading strategies, the investment managers may engage in the purchases and sales of index and equity options, for the purpose of generating profit and/or reducing market risk. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of those securities could occur in the near term and that such changes could materially affect the amounts reported in the financial statements.

The Society’s investments, in general, are subject to various risks, such as interest-rate, market, and credit risks. Due to the level of risk associated with certain investment vehicles, it is at least reasonably possible that changes in the values of those securities could occur in the near term and that such changes could materially affect the amounts reported in the financial statements.

Investment transactions are recorded on a trade-date basis. Realized gains and losses on investments sold, and unrealized appreciation and depreciation on investments held, are reported in the statement of activities as increases or decreases in unrestricted net assets unless their use is restricted on a temporary or permanent basis through donor stipulation. Realized gains and losses on investments are determined by comparison of the average costs of acquisition to the proceeds received at the time of disposition. Unrealized gains and losses on investments are determined by comparing each investment’s cost to the fair value at the end of each fiscal year. The earnings from dividends and interest are recognized when earned.

Investment expenses include the services of investment managers and investment custodians. The balances of investment management fees disclosed in Note 2 are those specific fees charged by the Society's various investment managers in each fiscal year; however, they do not include those fees that are embedded in various other investment accounts and transactions.

Donated securities are recorded at their estimated fair values, as determined by the proceeds received on the dates of donation or by their net asset values as determined by the Society’s management. The Society's policy is to sell the donated securities immediately, and, accordingly, for purposes of the statement of cash flows, donated securities and the proceeds generated from their sale are included within operating activities.

5) Split-interest agreements:

The Society's investments include deferred-giving vehicles subject to split-interest agreements. The different types of agreements currently maintained by the Society include a life interest in real estate, two beneficial interest in a lead annuity trusts, and several charitable gift annuities.

6 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (CONTINUED)

[b] Financial reporting: (continued)

5) Split-interest agreements: (continued)

 Under the life interest in real estate agreement, the Society has received a contribution of real estate whereby the donors retain the right to use the real estate until their deaths. The agreement specifies that the donors will continue to pay the executory costs for the property, including maintenance costs, property taxes, insurance, utilities, and other similar costs. The Society has recognized the property received at fair value in the accompanying statements of financial position. The Society has also recognized an obligation reflecting the donors' use of the asset throughout their lives that is reported as deferred revenue in the accompanying statements of financial position. The difference between the fair value of the property received and the use obligation is recognized as temporarily restricted income in the accompanying statements of activities in the year recorded.

 The Society is a named beneficiary in two charitable lead annuity trusts whereby an unrelated trustee administers the underlying assets. Under the terms of the trust agreement, the Society has an irrevocable right to receive specified yearly distributions from the trust over the life of the trust. The remaining trust assets are to be distributed to the donor's beneficiaries upon termination of the trust. The Society's beneficial interest in the trust has been valued at fair value, based on the expected future cash flows and discounted present value at a risk-adjusted rate of 3.16% to 7.00% for both 2017 and 2016. The Society's beneficial interest in the trust was approximately $9,717 and $12,230 at August 31, 2017 and 2016, respectively.

 Charitable gift annuities are unrestricted irrevocable gifts under which the Society agrees in turn to pay a life annuity to the donor or designated beneficiary. The contributed funds and the attendant liabilities immediately become part of the Society's general assets and liabilities, subject to the Society's maintaining an actuarial reserve. The assets received are recorded at their fair values, and an annuity payment liability is recognized at the present value of the expected future cash flows. Of the amounts of $15,144 and $14,477 that were recorded as other investments as of August 31, 2017 and 2016, respectively, $926 and $971 represented amounts held in reserve for charitable gift annuities at August 31, 2017 and 2016, respectively.

6) Other assets:

Other assets consist of inventory of gift shop items and CDs, which are valued at cost, on a first-in-first- out basis.

7) Property and equipment:

The Society's property and equipment are stated at their original costs at the dates of acquisition, or, if contributed, at their fair values at the dates of donation. Minor costs of repairs and maintenance are expenses as incurred. The Society capitalizes items of property and equipment that have a cost of $5 or more and have useful lives greater than one year. Depreciation is provided using the straight-line method over 3 to 35 years, the estimated useful lives of the related assets. Leasehold improvements are amortized over the remaining lease term, or the useful lives of the improvements, whichever is shorter.

The costs (or donated values) of musical instruments are capitalized and depreciated over their estimated useful lives, except for antique musical instruments, which are carried at a cost basis of $7,476 in fiscal-years 2017 and 2016, and which are not required to be depreciated.

7 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (CONTINUED)

[b] Financial reporting: (continued)

7) Property and equipment: (continued)

Management evaluates the recoverability of the investment in long-lived assets on an on-going basis and recognizes any impairment in the year of determination. Long-lived assets were tested for impairment as of August 31, 2017 and 2016, respectively, and, in the opinion of management, there were no impairments. However, it is reasonably possible that relevant conditions could change in the near term and necessitate a change in management's estimate of the recoverability of these assets.

8) Archival collection:

The Society maintains a collection of historic and culturally significant musical documents. In accordance with the collection policies commonly followed by museums, the cost or value of these collection items is not included in the statement of financial position. Each item is cataloged, preserved, and cared for, and activities verifying their existence and assessing their condition are performed continuously. Items purchased for the collection are recorded as expenses in the year in which the items are purchased. Proceeds from deaccessions are classified as unrestricted, except when donor restrictions apply.

9) Accrued vacation:

Accrued vacation is included as a liability in the accompanying statements of financial position and represents the Society's obligation for the cost of unused vacation time payable under the supposition that all employees would leave the Society; this obligation is recalculated every year. At both August 31, 2017 and 2016, this accrued vacation obligation was approximately $131 and was reported as part of "accounts payable and accrued expenses" in the accompanying statements of financial position.

10) Deferred revenue:

Deferred revenue from ticket sales arises from subscription sales and future special events, and is recognized as income when the related performances or special events occur.

11) Net assets:

i) Unrestricted:

Unrestricted net assets represent those resources that are not subject to donor restrictions and are generally available for current operations. In that regard, the Society's Board of Directors have dedicated a portion of the unrestricted net assets to function as endowment; the unrestricted earnings from these board-designated funds will be applied to future needs, as determined by the Board.

ii) Temporarily restricted:

Temporarily restricted net assets represent those resources that are subject to the requirements of the New York Prudent Management of Institutional Funds Act ("NYPMIFA") and the use of which has been restricted by donors or state law to specific purposes and/or the passage of time. When a donor restriction expires, that is, when a stipulated time restriction ends, a purpose restriction is accomplished, or funds are appropriated for expenditure through an action of the Board of Directors, temporarily restricted net assets are reclassified as unrestricted net assets and reported in the statement of activities as "net assets released from restrictions." 8 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (CONTINUED)

[b] Financial reporting: (continued)

11) Net assets: (continued)

iii) Permanently restricted:

Permanently restricted net assets represent those resources the principal of which is originally restricted into perpetuity by its donor. The purposes for which the income and net capital appreciation arising from the underlying assets may be used depend on the wishes of those donors. Under the terms of NYPMIFA, those earnings are classified as temporarily restricted in the statement of activities, pending appropriation for expenditure by the Board of Directors.

12) Revenue recognition:

i) Income from orchestra activities:

Revenue from concerts and tour sponsorships is recognized as income when the performance has occurred. Recording and broadcasting reimbursements are recognized as income when the payment has been made.

ii) Gifts, grants, and bequests:

Gifts, grants, and bequests made to the Society are recognized as revenue upon the receipt of cash or other assets, or of unconditional gift pledges. Contributions are recorded as either temporarily or permanently restricted if they are received with donor stipulations or time considerations as to their use. Conditional contributions are recorded when the conditions have been met and, if received in advance, are recognized in the statements of financial position as funds received in advance. The Society records bequest income at the time it has an established right to a bequest and the proceeds are measurable. Contributions to be received over periods longer than a single year are discounted at an interest rate commensurate with the risk involved.

13) Allowance for doubtful collections:

The Society periodically assesses the collectability of its contributions and receivables using management's judgment of potential defaults, which considers factors such as prior collection history, the type of contribution, and the nature of fund-raising activity, and provides allowances for anticipated losses, if any, when necessary.

14) Measures of operations:

The Society includes in its definition of operations all income and expenses relating to its orchestra and supporting activities. Non-operating activities include the amounts of (i) investment income, including net realized and unrealized gains and losses that either exceeds or is less than the Society's authorized spending limit, (ii) changes in the value of split-interest agreements, and (iii) pension-related changes other than periodic costs are recognized as part of non-operating activities.

9 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (CONTINUED)

[b] Financial reporting: (continued)

15) Donated services and volunteers:

For recognition of donated services in the Society's financial statements, such services must (i) create or enhance non-financial assets, (ii) require specialized skills, (iii) be performed by individuals possessing those skills, and (iv) typically need to be acquired if not provided by donation. Donated services are recorded as support at their estimated fair values at the dates of donation and are reported as unrestricted support, unless the donor has restricted the services to a specific purpose. The fair value of contributed legal and consulting services was approximately $1,158 and $93 for fiscal-years 2017 and 2016, respectively.

A number of volunteers have made significant contributions of time to the Society's program and support functions. The value of this contributed time does not meet the criteria for recognition of contributed services under U.S. GAAP, and, accordingly, is not reported in the accompanying financial statements. However, the value of services that do meet the criteria are reported as in-kind donations of services.

16) Advertising:

The Society expenses the costs of advertising as they are incurred.

17) Functional allocation of expenses:

The costs of providing the various programs and supporting services of the Society have been summarized on a functional basis in Note 15. Accordingly, certain expenses have been allocated among the Society’s programs and supporting services using appropriate measurement methodologies determined by management.

18) Income taxes:

The Society is subject to the provisions of the Financial Accounting Standards Board's (the "FASB") Accounting Standards Codification ("ASC") Topic 740, Income Taxes, as it relates to accounting and reporting for uncertainty in income taxes. Due to the Society's general not-for-profit status, ASC Topic 740 has not had, and is not anticipated to have, a material impact on the Society's financial statements.

19) Reclassifications:

Certain amounts in the accompanying prior-year’s financial statements have been reclassified to conform to the current-year's presentation.

20) Recent accounting pronouncements:

In August 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-14, Presentation of Financial Statements of Not-for-Profit Entities. ASU 2016-14 amends financial-statement presentations and disclosures, with the goal of assisting not-for-profit organizations in providing more relevant information about their resources (and the changes in those resources) to donors, grantors, creditors, and other users. ASU 2016-14 includes qualitative and quantitative requirements in the following areas: (i) net asset classifications, (ii) investment returns, (iii) expense categorizations, (iv) liquidity and the availability of resources, and (v) the presentation of operating cash flows. The new standard will be effective for fiscal years beginning after December 15, 2017. Management is currently evaluating the effect that this new guidance will have on the Society’s financial statements and related disclosures. 10 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (CONTINUED)

[b] Financial reporting: (continued)

21) Subsequent events:

The Society has considered all of the accounting treatments, and the related disclosures in the current fiscal-year's financial statements, that would be required as the result of all events or transactions that occurred after August 31, 2017 through December 5, 2017, the date on which the financial statements were available to be issued.

NOTE 2 - INVESTMENTS

At each fiscal year-end, the fair value of investments was as follows:

August 31, 2017 2016 Fair Value Cost Fair Value Cost

Endowment: Money-market funds $ 12,712 $ 12,712 $ 8,750 $ 8,750 Equity securities - domestic 59,035 46,022 46,172 33,979 Equity securities - international 17,688 14,896 14,005 13,456 Fixed-income securities 34,020 33,601 32,983 32,033 Alternative investments (valued at NAV): Inflation hedging funds 4,616 8,609 Equity securities - domestic 12,865 10,050 Equity securities - international 32,775 19,604 29,663 22,259 Other funds-of-funds 38,893 24,635 36,842 24,635

Total endowment investments (both restricted and unrestricted) 195,123 151,470 185,896 153,771

Other investments, non-endowment: Residence held subject to life interest 10,000 10,000 10,000 10,000 Money-market funds 12 12 11 11 Equity securities - domestic 2,636 2,211 2,505 2,114 Equity securities - international 296 203 126 128 Fixed-income securities 1,686 1,518 1,537 1,404 Alternative investments (valued at NAV) Other funds-of-funds 514 637 298 396

Total other investments, non-endowments 15,144 14,581 14,477 14,053

$ 210,267 $ 166,051 $ 200,373 $ 167,824

Other investments include the value of the property received in a life interest in real estate, amounts designated for a supplemental pension fund, charitable gift annuities and other general funds.

The Society's Board of Directors has adopted a spending-rate policy whereby a predetermined amount of each fiscal-year's investment assets is used to fund current operations. For fiscal-years 2017 and 2016, respectively, the spending-rate was calculated as 6.00% and 6.25% of the prior three-year, rolling-average, quarterly market values of investments. Unrestricted investment income also includes interest income earned on operating funds of $7 in fiscal-years 2017 and 2016. 11 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 2 - INVESTMENTS (CONTINUED)

The following schedule summarizes the investment returns (losses) and their classifications in the accompanying statements of activities for each fiscal year:

Year Ended August 31, 2017 Temporarily Permanently Unrestricted Restricted Restricted Total

Interest and dividend income, net of investment expenses of $872 $ 104 $ 1,851 $ 1,955 Net realized gains 298 5,055 $ 78 5,431 Net change in unrealized gains 450 10,824 393 11,667

Total return on investments 852 17,730 471 19,053

Investment return used for operations (including a spending-rate amount of $10,900) 489 10,417 10,906

Investment gains after applying spending rate $ 363 $ 7,313 $ 471 $ 8,147

Year Ended August 31, 2016 Temporarily Permanently Unrestricted Restricted Restricted Total

Interest and dividend income, net of investment expenses of $626 $ 123 $ 2,127 $ 2,250 Net realized losses (280) (6,130) $ (210) (6,620) Net change in unrealized gains 349 9,247 161 9,757

Total return on investments 192 5,244 (49) 5,387

Investment return used for operations (including a spending-rate amount of $11,477) 563 10,920 11,483

Investment losses after applying spending rate $ (371) $ (5,676) $ (49) $ (6,096)

ASC Topic 820, Fair Value Measurements, establishes a three-level valuation hierarchy of fair-value measurements. These valuation techniques are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. These two types of inputs create the following fair-value hierarchy:

Level 1: Valuations are based on observable inputs that reflect quoted market prices in active markets for identical investments, at the reporting date.

Level 2: Valuations are based on (i) quoted prices for similar investments, in active markets, or (ii) quoted prices for those investments, or similar investments, in markets that are not active, or (iii) pricing inputs other than quoted prices that are directly or indirectly observable at the reporting date.

Level 3: Valuations are based on pricing inputs that are unobservable and include situations where (i) there is little, if any, market activity for the investments, or (ii) the investments cannot be independently valued.

12 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 2 - INVESTMENTS (CONTINUED)

Certain of the Society's investments are valued using NAV per share (or its equivalent unit), as described in Note 1 [b] 4, as a practical expedient of fair value. This applies to investments (i) which do not have a readily determinable fair value, and (ii) the financial statements of which were prepared by the respective investment managers, in a manner consistent with the measurement principles applied in the preparation of the financial statements of either an investment company or an entity which has the attributes of an investment company. Investments that are valued using NAV per share (or its equivalent unit) are not required to be categorized within the fair-value hierarchy. Accordingly, these NAV-investments and certain related disclosures are no longer required to be included in the financial statements.

The available market data is monitored to assess the appropriate classification of financial instruments within the fair-value hierarchy. Changes in economic conditions or valuation techniques may require the transfer of financial instruments from one level to another. During fiscal-years 2017 and 2016, there were no transfers among the fair- value hierarchy levels.

The following tables summarize the fair values of investments at each fiscal year-end, in accordance with the ASC Topic 820 valuation levels.

August 31, 2017 Investments in the Fair-Value Hierarchy Investments Level 1 Level 2 Level 3 Total Valued at NAV Total

Money-market funds $ 12,724 $ 12,724 $ 12,724 Equity securities - domestic 61,671 61,671 61,671 Equity securities - international 17,984 17,984 17,984 Fixed-income securities 30,720 $ 4,986 35,706 35,706 Residence held subject to life interest $ 10,000 10,000 10,000 Alternative investments $ 72,182 72,182

Total investments 123,099 4,986 10,000 138,085 72,182 210,267

Beneficial interest in lead trust 9,717 9,717 9,717

$ 123,099 $ 4,986 $ 19,717 $ 147,802 $ 72,182 $ 219,984

13 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 2 - INVESTMENTS (CONTINUED)

August 31, 2016 Investments in the Fair-Value Hierarchy Investments Valued at Level 1 Level 2 Level 3 Total NAV Total

Money-market funds $ 8,761 $ 8,761 $ 8,761 Equity securities - domestic 48,677 48,677 48,677 Equity securities - international 14,131 14,131 14,131 Fixed-income securities 28,576 $ 5,944 34,520 34,520 Residence held subject to life interest $ 10,000 10,000 10,000 Alternative investments $ 84,284 84,284

Total investments 100,145 5,944 10,000 116,089 84,284 200,373

Beneficial interest in lead trust 12,230 12,230 12,230

$ 100,145 $ 5,944 $ 22,230 $ 128,319 $ 84,284 $ 212,603

The following tables presents the activity in Level 3 investments during fiscal-years 2017 and 2016:

Year Ended August 31, 2017 Residence Held Subject Beneficial to Life Interest in Interest Lead Trust

Balance, beginning of year $ 10,000 $ 12,230 Payments received (2,750) Change in discount 237

Balance, end of year $ 10,000 $ 9,717

Year Ended August 31, 2016 Residence Held Subject Beneficial to Life Interest in Interest Lead Trust

Balance, beginning of year $ 10,000 $ 14,402 Payments received (2,750) Change in discount 578

Balance, end of year $ 10,000 $ 12,230

14 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 2 - INVESTMENTS (CONTINUED)

The following table describes the funding commitment and redemption information for the alternative investments:

Year Ended August 31, 2017 Unfunded Redemption Redemption Fair Value Commitments Frequency Notice Period

Monthly, quarterly & Limited liability companies $ 52,462 None annually 5-95 days Limited partnerships 19,720 None Monthly & quarterly 10-45 days

$ 72,182

NOTE 3 - RECEIVABLES

[a] Contributions receivable:

At each fiscal year-end, net contributions receivable are due to be collected as follows:

August 31, 2017 2016

One year (including $4,127 and $5,608 of endowment pledges in fiscal-years 2017 and 2016, respectively) $ 19,180 $ 13,455 One to five years 37,760 25,715 More than five years 3,050 4,506

59,990 43,676 Less allowance for doubtful accounts (400) (350)

Future value 59,590 43,326 Less discount to present value (at rates of 1.58% to 7%) (3,113) (3,122)

$ 56,477 $ 40,204

The Society reserved $495 and $217 of certain uncollectable contributions receivable, as part of the Society's general allowance for doubtful accounts for fiscal-years 2017 and 2016, respectively.

[b] Other receivables:

At each fiscal year-end, other receivables consisted of amounts due to the Society from unrelated parties for exchange-type transactions. All amounts are due within one year, and, based on the Society's prior experience, are expected to be fully collected. Accordingly, no allowance for doubtful accounts has been established.

15 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 4 - PROPERTY AND EQUIPMENT

At each fiscal year-end, the costs of leasehold improvements, property and equipment, and musical instruments were as follows:

August 31, 2017 2016

Leasehold improvements $ 10,696 $ 10,595 Leasehold improvements-David Geffen Hall renovation costs 16,759 9,918 Equipment 2,545 2,545 Computer hardware and software 7,407 7,090 Archives digitization and conservation 4,795 4,133 Musical instruments 8,237 8,257

50,439 42,538 Less accumulated depreciation and amortization (19,484) (18,148)

$ 30,955 $ 24,390

Depreciation and amortization of leasehold improvements, property and equipment, and musical instruments amounted to $1,356 and $1,525 for fiscal-years 2017 and 2016, respectively. Depreciation for leasehold improvements for the David Geffen Hall renovations will begin once the new building is in use (See also Note 14).

NOTE 5 - PENSION PLANS

The Society maintains two defined-benefit pension plans, one for members of the orchestra and one for office employees. Subsequent to fiscal-year 2017, the Society, as the plan sponsor, froze participation and benefit accruals for the office plan, in accordance with a resolution of the Board of Directors.

The following table sets forth each plan’s funded status and the pension-related amounts reported in the Society's financial statements:

Orchestra Plan Office Plan Year Ended August 31, 2017 2016 2017 2016

Projected benefit obligation $ (79,373) $ (81,530) $ (25,050) $ (25,100) Fair value of plan assets 50,797 46,473 15,035 12,997

Funded status - deficiency of assets $ (28,576) $ (35,057) $ (10,015) $ (12,103)

Service cost - benefits earned during the period $ 1,393 $ 953 $ 1,092 $ 1,024 Interest cost on projected benefit obligation 3,017 3,266 920 980 Expected annual return on plan assets (4,062) (3,909) (1,099) (1,089) Net amortization and deferral 2,912 2,485 776 648

Net periodic pension costs $ 3,260 $ 2,795 $ 1,689 $ 1,563

16 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 5 - PENSION PLANS (CONTINUED)

Orchestra Plan Office Plan Year Ended August 31, 2017 2016 2017 2016 Weighted-average assumptions: Discount rate for benefit cost 3.79% 4.57% 3.79% 4.57% Discount rate for projected benefit obligation 4.03% 3.79% 4.03% 3.79% Expected return on plan assets 8.00% 8.00% 8.00% 8.00% Rate of compensation increase N/A N/A 2.00% 2.00%

Benefit cost $ 3,259 $ 2,795 $ 1,690 $ 1,563 Employer contributions 3,427 3,239 686 201 Employee contributions None None 5 6 Benefits paid 3,884 3,437 1,620 1,454

Employer contributions are stated as amounts paid during fiscal-years 2017 and 2016. These contributions may be applied to plan years other than the fiscal year in which it has been reported. To meet the minimum-funding requirements of the Internal Revenue Service, the Society's funding policy is to contribute funds to a trust, as necessary, to provide for current service and for any unfunded, accrued benefit liabilities. To the extent that the funding requirement is fully satisfied by trust assets, a contribution to the trust may not be made in a particular year.

The plans' investments will be made for the purpose of providing retirement reserves for the present and future benefit of participants of the plans. The assets will be invested with the care, skill and diligence a prudent person acting in this capacity would exercise, in order to comply with the rules and objectives set forth in the Investment Advisors Act of 1940, the Employee Retirement Income Security Act of 1974, and all other governing statutes.

The primary objective of the plans' trustees is to provide a balance among capital appreciation, preservation of capital, and the production of current income. The plans' trustees recognize that risk (i.e., the uncertainty of future events), volatility (i.e., the potential for variability of asset values), and the possibility of loss in purchasing power (due to inflation) are present to some degree in all types of investment vehicles. While high levels of risk are to be avoided, the assumption of risk is warranted in order to allow the investment manager the opportunity to achieve satisfactory long-term results consistent with the objectives of the plans.

The trustees of the plans have established the following asset-allocation strategy:

Orchestra Plan Office Plan

Equity securities 48% 65% Fixed-income funds 30% 35% Alternative investments 20% - Cash and cash equivalents 2% -

100% 100%

At August 31, 2017, the percentages of the fair values of the types of plan assets held were as follows:

Orchestra Plan Office Plan

Equity securities 49% 65% Fixed-income funds 30% 35% Alternative investments 19% - Cash and cash equivalents 2% -

100% 100%

17 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 5 - PENSION PLANS (CONTINUED)

The estimated amount of the Society's contribution for fiscal-year 2017 is $4,200 for the Orchestra Plan and $1,400 for the Office Plan. These estimates reflect the funding requirements promulgated by the Internal Revenue Service.

The following table illustrates the expected benefit payments over future fiscal years:

Year Ending Orchestra Office August 31, Plan Plan

2018 $ 3,910 $ 853 2019 4,041 913 2020 4,182 1,036 2021 4,292 1,086 2022 4,433 1,182 2023 - 2027 23,071 6,610

NOTE 6 - OTHER POSTRETIREMENT BENEFIT PLANS

In addition to providing pension benefits, the Society provides certain healthcare insurance benefits for qualified employees retiring after September 21, 1982, under two separate benefit plans. Administrative employees are eligible for benefits when they have reached ten years of service and 62 years of age while working for the Society. Orchestra employees are eligible for benefits when they have reached ten years of service and 60 years of age while working for the Society. Prior to fiscal-year 1996, the cost of retiree healthcare benefits was recognized as expense in the fiscal year during which related costs for annual insurance premiums were incurred.

The amount of the expected postretirement benefit obligation is presented in the following table:

Year Ended August 31, 2017 2016

Expected postretirement benefit obligation $ (5,165) $ (5,015) Fair value of plan assets at end of year 0 0

Funded status (deficiency of assets) $ (5,165) $ (5,015)

Service cost - benefits earned during the period $ 142 $ 149 Interest cost on expected benefit obligation 190 209 Net amortization and deferral 51 45

Net periodic postretirement benefit cost $ 383 $ 403

Weighted-average assumptions: Discount rate - Orchestra 3.75% 4.64% Discount rate - Office 3.75% 4.65%

Benefit cost $ 383 $ 403 Benefits paid $ 96 $ 105

18 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 6 - OTHER POSTRETIREMENT BENEFIT PLANS (CONTINUED)

The accrued expected postretirement benefit cost recognized in the accompanying statements of financial position for the Orchestra Plan and Office Plan for fiscal-year 2017 was $4,056 and $1,109, respectively. The accrued benefit cost recognized in the accompanying statements of financial position for the Orchestra Plan and Office Plan for fiscal-year 2016 was $ 4,048 and $967, respectively.

The estimated amount of the Society's contribution for fiscal-year 2017 is $84 for the Orchestra Plan and $12 for the Office Plan. These estimates reflect the funding requirements promulgated under the Internal Revenue Service's MAP-21 rules.

For measurement purposes, a 4.25% annual rate of increase in the per capita cost of covered benefits was assumed for both fiscal-years 2017 and 2016.

A one percentage-point increase in the assumed healthcare cost-trend for each fiscal year would have resulted in an increase in the accumulated postretirement benefit obligation as of August 31, 2017 of $618 and an increase in the aggregate cost components of net period postretirement benefit costs of $60 for fiscal-year 2017.

There were no employer or employee contributions to the Plans in either fiscal-year 2017 or 2016.

The following table illustrates the expected benefit payments over future fiscal years:

Year Ending Orchestra Office August 31, Plan Plan

2018 $ 158 $ 31 2019 161 33 2020 165 36 2021 172 39 2022 177 40 2023 - 2027 953 251

NOTE 7 - SELF-INSURANCE PLAN RESERVE

The Society provides health insurance benefits to all of its employees through a partially self-funded plan. The plan is administered by a third party. The Society self-funds the cost of the program up to specified stop-loss insurance limits. Coverage during the policy period limits the maximum individual and aggregate losses. Self- insurance costs are accrued based upon the aggregate of the liability for reported claims and an estimated liability for claims incurred but not reported. The reserve was approximately $675 at August 31, 2017 and 2016, and is included in "accounts payable and accrued liabilities" in the statement of financial position.

NOTE 8 - DEFICIT IN UNRESTRICTED NET ASSETS

The deficit in unrestricted net assets is due largely to the Society's accumulated pension and postretirement benefit obligations. Management believes the Society will have sufficient resources to meet these obligations as they come due.

19 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 9 - TEMPORARILY RESTRICTED NET ASSETS

At each fiscal year-end, temporarily restricted net assets consisted of the following:

August 31, 2017 2016 Purpose restrictions: Guest artists $ 8,750 $ 9,026 Conductors 5,570 5,660 Education 2,206 2,518 Instrument chairs 4,280 4,354 Concert sponsorship 1,185 1,757 Archives digitization and conservation 3,035 3,386 Commissioned works and new music 12,106 11,566 Media projects 1,802 1,969 Musical instrument purchases and repairs 2,095 1,745 Pension fund 219 224 Free parks concerts 1,954 3,179 David Geffen Hall renovation 7,749 13,669 Audience cultivation 227 179 Tour sponsorship 950 1,866 Time restrictions 65,349 32,851

$ 117,477 $ 93,949

Temporarily restricted, endowment-related net assets totaled $55,995 and $55,831 for fiscal-years 2017 and 2016, respectively (Note 10).

During each fiscal year, temporarily restricted net assets were released from restrictions in fulfillment of the following restrictions:

Year Ended August 31, 2017 2016 Purpose restrictions: Guest artists $ 2,265 $ 1,987 Conductors 904 801 Education 1,605 1,358 Instrument chairs 1,745 1,661 Concert sponsorship 927 1,100 Archive digitization project 388 387 Commissioned works and new music 1,122 897 Media projects 349 93 Musical instrument purchases and repairs 143 1,956 Pension fund 46 41 Free parks concerts 1,587 1,166 David Geffen Hall renovation 7,202 8,685 Audience cultivation 342 699 Tour sponsorship 950 500 Time restrictions 5,687 10,453

$ 25,262 $ 31,784

Endowment-related, temporarily restricted net assets released from restrictions were $17,911 and $14,486 for fiscal-years 2017 and 2016, respectively (Note 10).

20 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 10 - ENDOWMENT

[a] The endowment:

The Society's endowment is composed of 111 individual funds established for a variety of purposes, consisting of both funds directed by donors to be permanently restricted and funds designated by the Board of Directors as unrestricted quasi-endowment.

[b] Return objectives and risk parameters:

The Board of Directors has adopted investment and spending policies for the Society's endowment assets that seek to provide a predictable stream of funding to programs supported by its endowment, and maintain purchasing power of the endowment over time.

[c] Strategies employed for achieving objectives:

To satisfy its long-term rate-of-return objectives, the Society relies on a total-return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The Society targets a diversified asset allocation within prudent risk constraints.

[d] Spending policy and relationship to investment objectives:

The Society had a policy of appropriating an annual distribution of 6.00% and 6.25%, for fiscal-years 2017 and 2016, respectively, of its endowment funds' average fair value over the prior 12 quarters, through March 31 of the year preceding the fiscal year in which the distribution is planned. In establishing this policy, management considered the long-term expected return on the endowment assets. Accordingly, over the long term, management expects the current spending policy to maintain the purchasing power of the endowment assets held in perpetuity or for a specified term, as well as to provide additional real growth through new gifts and investment returns.

[e] Endowment net asset composition, by type of fund, as of each fiscal year-end:

August 31, 2017 Temporarily Permanently Unrestricted Restricted Restricted Total

Donor-restricted funds $ 55,995 $ 83,893 $ 139,888 Donor-restricted funds with deficiencies $ (17,708) 84,534 66,826 Board-designated endowment fund 7,201 7,201

Total funds $ (10,507) $ 55,995 $ 168,427 $ 213,915

August 31, 2016 Temporarily Permanently Unrestricted Restricted Restricted Total

Donor-restricted funds $ 55,831 $ 88,932 $ 144,763 Donor-restricted funds with deficiencies $ (17,073) 80,743 63,670 Board-designated endowment fund 7,609 7,609

Total funds $ (9,464) $ 55,831 $ 169,675 $ 216,042

21 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 10 - ENDOWMENT (CONTINUED)

[f] Changes in endowment net assets, during each fiscal year:

For the Year Ended August 31, 2017 Temporarily Permanently Unrestricted Restricted Restricted Total

Endowment net assets, beginning of year $ (9,464) $ 55,831 $ 169,675 $ 216,042

Investment returns: Investment income 78 1,802 1,880 Net appreciation (realized and unrealized) 706 15,637 471 16,814

Total investment return 784 17,439 471 18,694

Other activity: Contributions 687 5,181 5,868 Appropriations of endowment assets for expenditures (1,878) (17,911) (19,789) Transfers: Release of donor restriction (6,900) (6,900) Recoveries of "underwater" funds, net (636) 636 0 0

Total other activity (1,827) (17,275) (1,719) (20,821)

Endowment net assets, end of year $ (10,507) $ 55,995 $ 168,427 $ 213,915

For the Year Ended August 31, 2016 Temporarily Permanently Unrestricted Restricted Restricted Total Endowment net assets, beginning of year $ (4,979) $ 61,586 $ 144,229 $ 200,836

Investment returns: Investment income 96 2,057 2,153 Net appreciation (realized and unrealized) 132 3,076 (49) 3,159

Total investment return 228 5,133 (49) 5,312

Other activity: Contributions 25,495 25,495 Appropriations of endowment assets for expenditures (1,134) (14,467) (15,601) Transfers: Expiration for term endowments 19 (19) 0 Recoveries of "underwater" funds, net (3,598) 3,598 0

Total other activity (4,713) (10,888) 25,495 9,894

Endowment net assets, end of year $ (9,464) $ 55,831 $ 169,675 $ 216,042

22 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 10 - ENDOWMENT (CONTINUED)

[g] Funds with deficiencies:

Due to unfavorable market fluctuations, from time to time the fair value of assets associated with individual donor-restricted endowment funds may decline below the historic dollar value of the donor's original, permanently restricted contribution (i.e., "underwater" funds). Under the terms of NYPMIFA, the Society has no responsibility to restore such decreases in value.

NOTE 11 - CONCENTRATIONS OF CREDIT RISK

Financial instruments that potentially subject the Society to concentrations of credit risk consist principally of cash that is deposited in financial institutions in amounts which, from time to time, may exceed federal insurance limits. However, management believes that the Society does not face a significant risk of loss on these accounts that would result from failures of these financial institutions.

NOTE 12 - COMMITMENTS AND CONTINGENCIES

[a] Lease:

The Society is the principal tenant of David Geffen Hall under a long-term lease agreement between the Society and Lincoln Center for the Performing Arts, Inc., which was renewed for 25 years, effective July 1, 2014. The Society's rent is determined by established rental rates for its use of the concert hall, plus or minus its proportionate share of the operating gain or loss. The expense incurred under this agreement amounted to approximately $5,114 and $6,295 in fiscal-years 2017 and 2016, respectively.

[b] Line of credit:

During fiscal-year 2017, the Society had available an $8,000 unsecured line of credit from a major bank. Interest on the line is payable at a variable rate, based on LIBOR, plus 225 basis points, which at August 31, 2017 was equivalent to 1.78%. There were no borrowings outstanding as of August 31, 2017 and 2016.

[c] Employment contracts:

The Society has employment contracts with the President and CEO and the Music Director, which expire in fiscal-years 2020 and 2023, respectively.

23 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 13 - COMPARISON TO INTERNAL OPERATING MEASURE

For fiscal-years 2017 and 2016, the unrestricted deficiency of operating income over operating expenses, as reported in the accompanying statements of activities, differs from the operating measures used for internal- reporting purposes for several reasons, including the alternative treatment of certain income and expense items. A reconciliation of these two measurement processes is as follows:

Year Ended August 31, 2017 2016

Deficiency of unrestricted operating income over operating expenses $ (1,182) $ 4,908 Unrestricted gifts functioning as endowment (687) (19) Building gifts released from restrictions (6,202) (8,686) Deferred marketing expenses (230) (5) Endowment fund-raising expenses 424 403 Gilbert instrument sale (1,825) Postretirement benefit cost 289 298

Operating measure for internal-reporting purposes $ (7,588) $ (4,926)

NOTE 14 - SUBSEQUENT EVENTS

In September 2017, management and the Boards of Directors of The Philharmonic Symphony Society of New York, Inc. and Lincoln Center voted to re-envision the strategy that will steer the forthcoming renovations of David Geffen Hall. The two organizations will be moving forward with a new phased program centering on improving audience and artist experiences inside the concert hall. The goal of the project remains to create a welcoming and world-class hall, which will include a reimagined hall configuration, with a focus on acoustics and enlivening the hall’s lobbies and other public spaces. Both organizations are currently evaluating the impact of the re-envisioning and re-phasing of the planned renovation.

24 THE PHILHARMONIC-SYMPHONY SOCIETY OF NEW YORK, INC.

Notes to Financial Statements August 31, 2017 and 2016 (amounts in thousands)

NOTE 15 - SCHEDULE OF FUNCTIONAL EXPENSES

Year Ended August 31, 2017 2016 Management Management Orchestra and Fund- Total Orchestra and Fund- Total Activities General Raising Expenses Activities General Raising Expenses

Salaries and wages $ 23,414 $ 6,999 $ 2,249 $ 32,662 $ 24,122 $ 6,592 $ 2,448 $ 33,162 Performing artists 8,536 8,536 7,275 7,275 Fringe benefits 7,954 3,122 994 12,070 7,759 2,892 989 11,640 Professional fees 1,973 373 2,346 521 258 779 Facilities and office expenses 4,737 685 20 5,442 4,545 2,045 23 6,613 Depreciation and amortization 273 1,083 1,356 257 1,268 1,525 Production 4,802 4,802 5,079 5,079 Travel 4,095 99 9 4,203 2,633 106 8 2,747 Advertising 3,911 165 35 4,111 4,324 193 29 4,546 Information technology 110 657 3 770 47 678 2 727 Miscellaneous expenses 310 727 1,039 2,076 518 666 922 2,106

$ 58,142 $ 15,510 $ 4,722 $ 78,374 $ 56,559 $ 14,961 $ 4,679 $ 76,199

25