Cape Arts & Entertainment Inc
- Assets
- $10.5m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 189
- Location
- West Barnstable, MA
- Founding
- 02/1973
- Data as of
- 06/2022
- EIN
- 04-6297436
Organization Overview
Cape Arts & Entertainment Inc is located in West Barnstable, MA. The organization was established in 1973. According to its NTEE Classification (A69) the organization is classified as: Symphony Orchestras, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Cape Arts & Entertainment Inc employed 189 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cape Arts & Entertainment 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, Cape Arts & Entertainment Inc generated $5.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $4.3m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENRICH AND FURTHER THE CULTURAL, EDUCATIONAL AND ECONOMIC INTERESTS OF OUR REGION THROUGH MUSIC AND THE ARTS BY ENCOURAGING LIFELONG INVOLVEMENT WITH SUPERIOR MUSIC AND ARTS EDUCATION TO ALL RESIDENTS OF AND VISITORS TO CAPE COD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CAPE SYMPHONY CREATES AND MAINTAINS A FULLY PROFESSIONAL SYMPHONY ORCHESTRA WHICH:-PRESENTS MUSIC OF THE HIGHEST QUALITY POSSIBLE AND THROUGH THE TALENT AND VERSATILITY OF OUR MUSIC DIRECTOR AND MUSICIANS, PROVIDES A BROAD RANGE OF CLASSICAL AND POPULAR MUSIC ENTERTAINMENT USING ENSEMBLES OF VARYING SIZE AND COMPLEMENT;-BROADENS OUR AUDIENCE THROUGH EDUCATION AND OUTREACH AND BY CONTINUALLY RE-EVALUATING AND IMPROVING OUR PRODUCTS AND SERVICES;-IMPLEMENTS A PLAN DESIGNED TO PROVIDE OPPORTUNITIES FOR MUSIC EDUCATION AND MUSIC APPRECIATION IN OUR COMMUNITY;-CREATES PARTNERSHIPS WITH THE CULTURAL, EDUCATIONAL, CIVIC AND BUSINESS COMMUNITIES THAT FURTHER THE INTERESTS OF THE SYMPHONY AND THE COMMUNITY.
THE CAPE CONSERVATORY PROVIDES INSTRUCTION AND PROMOTION OF MUSIC, DANCE AND ARTS FOR ITS MEMBERS AND THE LOCAL COMMUNITY. MUSICAL PRESENTATIONS AND EDUCATION ARE PRIMARILY ACCOMPLISHED AND PERFORMED IN THE COUNTIES OF BARNSTABLE, DUKES AND NANTUCKET, MASSACHUSETTS. THE CONSERVATORY HAS PROPERTIES AND CONDUCTS INSTRUCTION FROM TWO LOCATIONS: BARNSTABLE AND FALMOUTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Michael Albaugh Executive Director | Officer | 40 | $180,000 |
Jung Ho Pak Artistic Director & Conduc | 40 | $180,000 | |
D Bates Jr Director Of Finance | Officer | 40 | $106,000 |
Steven Heslinga Treasurer | OfficerTrustee | 5 | $0 |
Ellen Dickinson Chair | OfficerTrustee | 5 | $0 |
Theresa Egan Secretary | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,962,706 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,299,659 |
| Noncash contributions included in lines 1a–1f | $11,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,262,365 |
| Total Program Service Revenue | $2,007,404 |
| Investment income | $183,214 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$463,730 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,101,262 |
| 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. | $297,803 |
| Compensation of current officers, directors, key employees. | $26,802 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,032,809 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $97,850 |
| Payroll taxes | $207,169 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $540 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,355 |
| Fees for services: Other | $630,424 |
| Advertising and promotion | $207,364 |
| Office expenses | $152,972 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $210,076 |
| Travel | $66,151 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,307 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $165,122 |
| Insurance | $86,225 |
| All other expenses | $0 |
| Total functional expenses | $4,317,285 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,149,542 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $916,903 |
| 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 | $85,956 |
| Net Land, buildings, and equipment | $1,544,288 |
| Investments—publicly traded securities | $6,735,512 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,694 |
| Total assets | $10,466,895 |
| Accounts payable and accrued expenses | $48,139 |
| Grants payable | $0 |
| Deferred revenue | $611,667 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,556 |
| Total liabilities | $665,362 |
| Net assets without donor restrictions | $4,887,291 |
| Net assets with donor restrictions | $4,914,242 |
| 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 | $10,466,895 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Cape Arts & Entertainment Inc has recieved totaling $319,235.
| Awarding Organization | Amount |
|---|---|
Cape Cod Foundation Inc South Yarmouth, MA PURPOSE: BLOOD DONOR CENTER | $244,333 |
Cape Cod Foundation Inc South Yarmouth, MA PURPOSE: SUMMER SOUNDS | $54,237 |
Cape Cod 5 Foundation Inc Hyannis, MA PURPOSE: DONATION | $10,000 |
John K And Thirza F Davenport Foundation 42c038017 Chicago, IL PURPOSE: DONATION FOR UNRESTRICTED PURPOSES | $5,000 |
John K And Thirza F Davenport Foundation 42c038017 Chicago, IL PURPOSE: DONATION FOR LINK UP PROJECT | $5,000 |
Shell Oil Company Foundation Houston, TX PURPOSE: MEF | $500 |
Endowment Analysis
| Beg. Balance | $5,230,959 |
| Earnings | -$571,829 |
| Ending Balance | $4,659,130 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buffalo Philharmonic Orchestra Society Inc Buffalo, NY | $15,185,404 | $13,394,584 |
Rochester Philharmonic Orchestra Inc Rochester, NY | $20,757,567 | $7,702,051 |
Rhode Island Philharmonic Orchestra & Music School East Providence, RI | $15,804,954 | $5,398,910 |
Cape Arts & Entertainment Inc West Barnstable, MA | $10,466,895 | $5,101,262 |
Orpheus Chamber Orchestra Inc New York, NY | $1,908,737 | $3,345,104 |
Boston Youth Symphony Orchestra Inc Boston, MA | $8,731,148 | $5,999,512 |
Hartford Symphony Orchestra Inc Hartford, CT | $12,831,218 | $4,378,736 |
Musical Associates Of Central New York Inc Syracuse, NY | $3,413,784 | $4,180,183 |
New Haven Symphony Orchestra Inc New Haven, CT | $4,780,690 | $3,191,138 |
Stamford Symphony Orchestra Inc Stamford, CT | $4,591,882 | $2,087,618 |
Albany Symphony Orchestra Inc Albany, NY | $12,413,747 | $2,273,007 |
Vermont Symphony Orchestra Inc Burlington, VT | $6,301,057 | $2,290,759 |