Prism Quartet Incorporated FY2022 filing

Tax-deductible

New York, NY501(c)(3)Arts & CultureEIN 26-4210673Revenue $313K in FY2022

On file with the IRS67 Park Terrace E C 80, 10034-0692 · New York, NYTax-exempt since Jun 2009Publicly supported charity — 170(b)(1)(A)(vi)

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To commission and disseminate contemporary music through performance, residency/outreach, and recording programs

501(c)(3) charity; gifts are tax-deductible.
60¢ of each $1 spent went to programs.
$164K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $20K a year · 6% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
60%
of spending
Worth a look: 60% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$164K
to officers and key staff · 41% of spending
Concern: pay to officers and key staff is 41% of spending; over 30%.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 8.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $115K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 13 voting members
Looks good: 9 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$313K
+61% vs prior year
Spent
$396K
To programs
60%
Net assets
$273K
By yearFY2021–FY2025
Revenue
$313K
FY2022▲ +61%
Tap a bar for its year
Revenue by fiscal year
FY2021$194K
FY2022$313K
FY2023$449K
FY2024$289K
FY2025$378K
Expenses
$396K
FY2022▲ +72%
Tap a bar for its year
Expenses by fiscal year
FY2021$230K
FY2022$396K
FY2023$297K
FY2024$266K
FY2025$334K
Net assets
$273K
FY2022▼ -23%
Tap a bar for its year
Net assets by fiscal year
FY2021$355K
FY2022$273K
FY2023$425K
FY2024$448K
FY2025$492K

From the FY2022 Form 990 (year ending May 2022) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

60 cents of each dollar spent went to programs.

Program services 60% · $239K Management & general 26% · $102K Fundraising 14% · $55K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990; $164K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Executive Director
$97,222Pt VII · Sec A
$22,946Pt VII · Sec A
$22,946Pt VII · Sec A
Co-Artistic Director
$20,446Pt VII · Sec A
$0Pt VII · Sec A

Matthew Levy’s $103K as Executive Director is at the 90th percentile of top reported officer pay among 2215 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Matthew Levy$103,298$105,403$99,426$97,222$87,626
Taimer Sullivan——$10,817$22,946$4,050
Zachary Shermon———$22,946$4,150
Timothy McAllister$9,085$8,635$10,317$20,446$4,050
Taimur Sullivan$13,335$13,935———
Zachary Shemon$10,250$10,850$10,817——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Prism Quartet Incorporated executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Commissions and shares new music through performances, residencies, and recordings.

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Provided by the organization

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1 program · $239K · in their own filed words · FY2021
01

Provides the services of the prism quartet through the presenting and performance of concerts, residency and commissioning programs, and the production of recordings.

$239Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 6 funders →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$313K
Ln 12
Gifts and grantsLn 1h$285K
Fees for servicesLn 2g$28K
Investment incomeLn 3$495
Money outPt IX
$396K
Ln 25
Programscol B$239K
Managementcol C$102K
Fundraisingcol D$55K
Owns and owesPt X
$273K
net assets · Ln 32
Cash and savingsLn 1–2$273K
Total assetsLn 16$273K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A4
Voting boardVI 1a13
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$285K
Government grantsLn 1e$90K
Fees for servicesLn 2g$28K
Investment incomeLn 3$495
Total revenueLn 12$313K
Assets in detailPt X, end of year
CashLn 1$32K
SavingsLn 2$240K
Cash and savings togetherLn 1–2$273K
Total assetsLn 16$273K
LiabilitiesLn 26$0
Net assetsLn 32$273K
OperationsPt I, VI
EmployeesI 51
VolunteersI 68
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$376K$273K
Total assetsLn 16$376K$273K
LiabilitiesLn 26$20K$0
Net assetsLn 32$355K$273K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$198K$68K$79K$52K
Payroll taxesLn 10$8K$5K$2K$1K
Legal feesLn 11b$325$0$325$0
Advertising and promotionLn 12$15K$15K$0$0
Office expensesLn 13$8K$817$7K$0
OccupancyLn 16$7K$0$7K$0
TravelLn 17$13K$13K$0$0
InsuranceLn 23$1K$1K$0$0
Other expenses (24a–d)Ln 24$144K$136K$6K$2K
Total functional expensesLn 25$396K$239K$102K$55K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $378K$334K$44K$492K 990 PDF
FY2024 $289K$266K$23K$448K 990 PDF
FY2023 $449K$297K$152K$425K 990 PDF
FY2022 Viewing $313K$396K−$82K$273K 990 PDF
FY2021 $194K$230K−$36K$355K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $313,337 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $187,153$284,560
I-9 Program service revenuePrior year $6,477$28,282
I-10 Investment incomePrior year $744$495
I-11 Other revenue$0
I-12 Total revenuePrior year $194,374$313,337
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $114,667$206,681
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $115,666$188,988
I-18 Total expensesPrior year $230,333$395,669
I-19 Revenue less expensesPrior year −$35,959−$82,332
Part VI · Governance 9 of 13 board members independent, no flags
VI-1a Voting members of the governing body13
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $313,337 across 6 lines filed
VIII-1e Government grants$90,500
VIII-1f All other contributions, gifts and grants$194,060
VIII-1h Total contributions, gifts and grants$284,560
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$28,282
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $495$495
VIII-12 Total revenueRelated to mission $28,282 · Unrelated business $0 · Excluded from tax $495$313,337
Part IX · Statement of functional expenses $395,669 across 9 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $67,776 · Management $78,897 · Fundraising $51,810$198,483
IX-10 Payroll taxesPrograms $4,509 · Management $2,213 · Fundraising $1,476$8,198
IX-11b Legal feesPrograms $0 · Management $325 · Fundraising $0$325
IX-12 Advertising and promotionPrograms $14,748 · Management $0 · Fundraising $0$14,748
IX-13 Office expensesPrograms $817 · Management $7,355 · Fundraising $0$8,172
IX-16 OccupancyPrograms $0 · Management $6,645 · Fundraising $0$6,645
IX-17 TravelPrograms $13,250 · Management $0 · Fundraising $0$13,250
IX-23 InsurancePrograms $1,496 · Management $0 · Fundraising $0$1,496
IX-24 Other expenses (24a–d)Programs $136,276 · Management $6,277 · Fundraising $1,799$144,352
IX-25 Total functional expensesPrograms $238,872 · Management $101,712 · Fundraising $55,085$395,669
Part X · Balance sheet $272,757 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $36,139$32,362
X-2 Savings and temporary cash investmentsStart of year $339,450$240,395
X-16 Total assetsStart of year $375,589$272,757
X-24 Unsecured notes and loans payableStart of year $20,500$0
X-26 Total liabilitiesStart of year $20,500$0
X-27 Net assets without donor restrictionsStart of year $241,989$258,657
X-28 Net assets with donor restrictionsStart of year $113,100$14,100
X-32 Total net assets or fund balancesStart of year $355,089$272,757
X-33 Total liabilities and net assetsStart of year $375,589$272,757
Part XI · Reconciliation of net assets $272,757 net assets at year end
XI-1 Total revenue$313,337
XI-2 Total expenses$395,669
XI-3 Revenue less expenses−$82,332
XI-4 Net assets at start of year$355,089
XI-10 Net assets at end of year$272,757

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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