Overture Center Foundation Inc
- Assets
- $36.2m
- Revenue
- $26.3m
- Investments
- $0.0
- Employees
- 291
- Location
- Madison, WI
- Founding
- 06/2002
- Data as of
- 06/2022
- EIN
- 01-0645482
Organization Overview
Overture Center Foundation Inc is located in Madison, WI. The organization was established in 2002. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Overture Center Foundation Inc employed 291 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Overture Center Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Overture Center Foundation Inc generated $26.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $15.8m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES THE OVERTURE CENTER FOR THE ARTS, A PERFORMING AND VISUAL ARTS CENTER. ITS MISSION IS TO ENRICH THE LIVES OF INDIVIDUALS AND THE COMMUNITY BY CREATING, ENCOURAGING, AND CATALYZING EXTRAORDINARY EXPERIENCES. THE OVERTURE CENTER PRESENTS A BROAD SPECTRUM OF HIGH QUALITY PERFORMING ARTS PROGRAMMING AND EDUCATIONAL OUTREACH PROGRAMS. THE CENTER RAISES FUNDS TO SUPPORT FREE AND LOW-COST COMMUNITY PROGRAMS AS WELL AS OTHER PROGRAMS AND INITIATIVES TO ADVANCE THE MISSION. TEN LOCAL PERFORMING ARTS COMPANIES ARE RESIDENT ORGANIZATIONS OF THE CENTER.
Describe the Organization's Program Activity:
OVERTURE CENTER HOSTS HUNDREDS OF TICKETED EVENTS WITH OUR BOX OFFICE SELLING APPROXIMATELY 300,000 TICKETS ANNUALLY. OVERTURE CENTER PRESENTS A WIDE VARIETY OF ARTISTIC OFFERINGS THAT PATRONS WOULD NOT OTHERWISE HAVE THE OPPORTUNITY TO EXPERIENCE IN MADISON, RANGING FROM UP-AND-COMING DANCE COMPANIES TO CHILDREN'S THEATER PERFORMANCES TO NATIONALLY TOURING BROADWAY HITS. IN FULFILLING ITS MISSION OF ACCESS TO THE ARTS, OVERTURE CENTER STRIVES TO KEEP TICKET PRICES AFFORDABLE. THE AVERAGE TOP TICKET PRICE FOR NON-BROADWAY PERFORMANCES IS TYPICALLY UNDER $48. ADDITIONALLY, OVERTURE CENTER SUBSIDIZES AND SUPPORTS THE WORK OF NINE LOCAL, NONPROFIT RESIDENT ARTS COMPANIES WHO ANNUALLY SELL OVER 82,000 TICKETS TO THEIR PERFORMANCES. OVERTURE CENTER FULFILLS THE CORE OF ITS MISSION THROUGH FOURTEEN COMMUNITY ENGAGEMENT AND EDUCATIONAL PROGRAMS. AS A RESULT OF THESE PROGRAMS, OVER 188,000 PEOPLE ANNUALLY SEE A FREE PERFORMANCE OR VISUAL EXHIBIT. THE PROGRAMS INCLUDED 'OVERTURE ONSTAGE' THAT ANNUALLY ATTRACTS MORE THAN 22,000 ELEMENTARY AND HIGH SCHOOL STUDENTS TO DAYTIME PERFORMANCES DURING THE SCHOOL YEAR AND 'KIDS IN THE ROTUNDA' THAT ANNUALLY ATTRACTS APPROXIMATELY 21,000 CHILDREN AND PARENTS TO FREE PERFORMANCES. VARIOUS UNIQUE SPACES WITHIN THE OVERTURE CENTER ARE AVAILABLE FOR RENT TO THE PUBLIC TO HOLD SPECIAL EVENTS AND MEETINGS. OVERTURE CENTER'S NATURE AS A COMMUNITY ARTS CENTER PROVIDES FOR THE KIND OF EXPERIENCE UNAVAILABLE TO OTHER EVENT VENUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pablo Sanchez Chair | OfficerTrustee | 1 | $0 |
John Surdyk Vice Chair | OfficerTrustee | 1 | $0 |
Ana Hooker Secretary | OfficerTrustee | 1 | $0 |
Julia Arata-Fratta Treasurer | OfficerTrustee | 1 | $0 |
Betty Harris Custer Past Chair | OfficerTrustee | 1 | $0 |
Juliet Aylward Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiddler Touring Llc Producer | 6/29/22 | $501,753 |
Facility Services Group Building Repairs | 6/29/22 | $490,886 |
Jh Findorff & Son Inc Building Repairs | 6/29/22 | $283,977 |
1901 Inc Building Repairs | 6/29/22 | $229,471 |
Fpc Live Producer | 6/29/22 | $223,100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,139,952 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,673,547 |
| Noncash contributions included in lines 1a–1f | $116,612 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,813,499 |
| Total Program Service Revenue | $10,402,574 |
| Investment income | $84,089 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,377 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,325,539 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $194,609 |
| Compensation of current officers, directors, key employees. | $155,687 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,747,857 |
| Pension plan accruals and contributions | $142,838 |
| Other employee benefits | $746,502 |
| Payroll taxes | $455,360 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $65,262 |
| Fees for services: Accounting | $32,062 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,122 |
| Fees for services: Other | $4,252,291 |
| Advertising and promotion | $602,638 |
| Office expenses | $561,817 |
| Information technology | $368,027 |
| Royalties | $0 |
| Occupancy | $939,659 |
| Travel | $36,619 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,130 |
| Interest | $16,887 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $472,899 |
| Insurance | $37,048 |
| All other expenses | $95,910 |
| Total functional expenses | $15,789,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,697 |
| Savings and temporary cash investments | $23,324,173 |
| Pledges and grants receivable | $1,009,100 |
| Accounts receivable, net | $611,551 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $376,338 |
| Net Land, buildings, and equipment | $5,553,790 |
| Investments—publicly traded securities | $2,080,598 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,243,071 |
| Total assets | $36,201,318 |
| Accounts payable and accrued expenses | $1,575,056 |
| Grants payable | $0 |
| Deferred revenue | $12,271,760 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $523,134 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $14,369,950 |
| Net assets without donor restrictions | $17,150,360 |
| Net assets with donor restrictions | $4,681,008 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $36,201,318 |