Overview
What is Oklahoma City Philharmonic Foundation Inc?
Oklahoma City Philharmonic Foundation Inc is a 501(c)(3) nonprofit organization situated at 424 Colcord Drive, Oklahoma City, OK 73102. Their primary mission is to support the Oklahoma City Philharmonic Society, Inc, also known as the Oklahoma Philharmonic Orchestra. The foundation's resources are primarily allocated towards enhancing the general fund and the RAAP Designated Fund, which specifically contributes to the Youth Concert Series. The foundation's role is to bolster the orchestra's activities and services, promoting art and music appreciation within the Oklahoma City community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
The Oklahoma City Philharmonic Foundation Inc holds a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. This rating is primarily driven by the organization's strong governance practices, including a fully independent board and comprehensive policies for conflict of interest and whistleblower protection. The fiscal responsibility is highlighted by a high program expense ratio of nearly 90%, indicating that a significant portion of its expenses is directed towards its programs.
Despite its strengths, the organization faces a challenge with a liabilities to assets ratio of 77.14%, which may raise concerns about financial stability. While this does impact the overall score, the robust governance and operational transparency ensure that the organization is managed effectively. Overall, the Oklahoma City Philharmonic Foundation Inc demonstrates a commitment to accountability, although stakeholders may want to keep an eye on its financial health moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Oklahoma City Philharmonic Foundation Inc legitimate?
Oklahoma City Philharmonic Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oklahoma City Philharmonic Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of Oklahoma City Philharmonic Foundation Inc?
The Oklahoma City Philharmonic Foundation Inc's mission is centered around supporting the Oklahoma City Philharmonic Society Inc, specifically the Oklahoma City Philharmonic Orchestra. This non-profit organization, recognized as a 501(c)(3), employs its resources to strengthen the orchestra's general fund and contribute to various service outputs. Notably, the RAAP Designated Fund is utilized to support the Youth Concert Series, which is a significant part of their mission. Essentially, the Oklahoma City Philharmonic Foundation Inc plays a crucial role in bolstering the Oklahoma City Philharmonic Orchestra, enhancing its capabilities and reaching out to younger audiences through the Youth Concert Series.
Who is the CEO of Oklahoma City Philharmonic Foundation Inc?
Doug Stussi is the Principal Officer of Oklahoma City Philharmonic Foundation Inc.
What is the revenue of Oklahoma City Philharmonic Foundation Inc?
Oklahoma City Philharmonic Foundation Inc's revenue in 2022 was $55,559.
Who are the executives of Oklahoma City Philharmonic Foundation Inc and what are their salaries?
Here are 24 key members and their salaries:
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Where can I find the form 990 for Oklahoma City Philharmonic Foundation Inc?
Oklahoma City Philharmonic Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Oklahoma City Philharmonic Foundation Inc
Oklahoma City Philharmonic Foundation Inc is dedicated to supporting the Oklahoma City Philharmonic Society, Inc, more commonly known as the Oklahoma Philharmonic Orchestra. This 501(c)(3) organization's mission is to provide financial backing for the orchestra's general fund and various service outputs. Among its initiatives, the RAAP Designated Fund specifically supports the Youth Concert Series. By doing so, the foundation plays a significant role in nurturing and promoting musical education and appreciation among younger generations.
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Impact
October, 2024
The Oklahoma City Philharmonic Foundation Inc plays a vital role in enriching the cultural landscape of Oklahoma City through its support of the Oklahoma City Philharmonic Society, Inc. By funding the operations of the Philharmonic Orchestra, it enhances the availability of orchestral music and performances in the community.
This support not only sustains the general fund of the orchestra but also facilitates community engagement through various programs, like the designated RAAP fund for the Youth Concert Series. These initiatives provide educational opportunities and foster a love for classical music among younger audiences, ensuring the continuation of the arts in future generations. Through its efforts, the foundation contributes significantly to the vibrancy of Oklahoma City’s arts scene, promoting both cultural appreciation and community involvement in the arts.
This information is meant to be a general summary of Oklahoma City Philharmonic Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $55,559
- Gross Receipts: $490,867
Assets and Liabilities:
- Total Assets: $8,593,369
- Total Liabilities: $6,492,820
- Net Assets: $2,100,549
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Organization Details
Founding Year
1988
Phone
(405) 232-7575Principal Officer
Doug Stussi
Main Address
424 COLCORD DRIVE, OKLAHOMA CITY, OK, 73102
NTEE Category
Code: A69 - Arts
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