Next week is the beginning of the 2016 Orchestra Compensation Reports, an annual series that examines the compensation trends among orchestra executives, music directors and concertmasters, at more than 65 professional U.S. orchestras.
To date, the lion’s share of data entry is complete which means all that’s left is compiling the figures and preparing the articles.
Even though these reports limit the examination to compensation figures reported in each orchestra’s IRS Form 990, that doesn’t mean there aren’t some interesting perks that fall just outside of compensation which one stakeholder or another enjoy. For instance, this item covering travel for companions from one group’s Schedule J:
The Executive Director’s spouse occasionally travels with him attending concerts and other tour specific functions at the expense of the [Association]. Companion travel is not included in taxable compensation of the Executive Director in accordance with IRS rules and regulations.
Or this item which provided “Personal services (e g, maid, chauffeur, chef)”:
Payments were made to the President & CEO… pursuant to a written employment contract that was approved by the appropriate governing body…received personal services (Financial Planning). The fair market value of such personal services was included in her calendar year 2013 Form W-2.
Then there is the increasingly common perk in the form of special interest rate “loans to and/or from Interested Persons.”
On September 12, 1997, a thirty-year, $200,000 loan was made to the Managing Director…This loan, which is secured by a mortgage on his principal residence, is payable in biweekly installments of principal and interest. During 2003, the loan was refinanced and the term was changed to fifteen years. The Interest rate was determined by using the IRS approved market rate. In effect at the time of the inception and the refinancing of the loan.
All things being equal, you can look forward to the reports starting up next Monday. In the meantime, you can check out past installments at the report archive page.