Providence Performing Arts Center
- Assets
- $61.8m
- Revenue
- $33.5m
- Investments
- $25.1k
- Employees
- 428
- Location
- Providence, RI
- Founding
- 06/1978
- Data as of
- 06/2022
- EIN
- 05-0377244
Organization Overview
Providence Performing Arts Center is located in Providence, RI. The organization was established in 1978. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Providence Performing Arts Center employed 428 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Providence Performing Arts Center 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, Providence Performing Arts Center generated $33.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $24.7m during the year ending 06/2022. While expenses have increased by 3.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
TO PRESERVE THE HISTORIC INTEGRITY AND BEAUTY OF THE BUILDING; TO SERVE THE ENTERTAINMENT NEEDS OF THE STATE'S VARIOUS POPULATIONS BY PRESENTING THE WIDEST POSSIBLE VARIETY OF HIGH PERFORMING ARTS AND CULTURAL EVENTS; TO MAINTAIN FISCAL RESPONSIBILITY.
Describe the Organization's Program Activity:
TO PRESERVE THE HISTORIC INTEGRITY AND BEAUTY OF THIS BUILDING; TO SERVE THE ENTERTAINMENT NEEDS OF THE STATE'S VARIOUS POPULATIONS BY PRESENDING THE WIDEST POSSIBLE VARIETY OF HIGH QUALITY ARTS AND CULTURAL EVENTS; TO MAINTAIN FISCAL RESPONSIBILITY;TO CONNECT THE COMMUNITY TO ENGAGING CREATIVE PERFORMANCES AND EDUCATIONAL OPPEORTUNITIES.
COMMUNITY OUTREACH PROGRAMS INCLUDE: BANK OF AMERICA ARTS SHOWCASE ENABLES APPROXIMATELY 10,000 MIDDLE SCHOOL STUDENTS TO ATTEND PPAC TO EXPERIENCE JOY AND CREATIVITY OF LIVE THEATER. BOOKS TO BROADWAY EXPOSES MIDDLE AND HIGH SCHOOL STUDENTS TO THE THEATRE BY PROVIDING UNDERWRITIEN TICKETS TO BROADWAY SHOWS COMBINED WITH A CAST MEMBER "MEET & GREET". SEATS FOR SERVICE MEMBERS GIVES MEMBERS OF THE RI NATIONAL GUARD/USO NEW ENGLAND AND THEIR FAMILIES THE OPPORTUNITY TO EXPERIENCE LIVE THEATRE BY PROVIDING UNDERWRITIEN "PREFERRED SEATING" TO PPAC'S BROADWAY PERFORMANCES THROUGHOUT THE YEAR. WONDERS OF THE WURLITZER IS A FREE CONCERT SERIES. PEOPLE OF ALL AGES COME TO LISTEN TO THE MUSIC PERFORMED BY LOCAL ORGANISTS PLAYED ON PPAC'S ONE-OF-A-KIND 1927 WURLITZER PIPE ORGAN. PPAC'S ARTS SCHOLARSHIPS PROGRAMS HAVE PROVIDED FINANCIAL ASSISTANCE TO QUALIFIED, TALENTED RI STUDENTS WHO WISH TO ATIEND LOCAL, SUMMER ARTS EDUCATION PROGRAMS THAT FURTHER DEVELOP THEIR ABILITIES IN A CHOSEN AREA OF STUDY. BIG DREAMS BEGIN WITH BROADWAY OFFERS PRIME ORCHESTRA SEATS FOR BROADWAY PERFORMANCES TO BIG BROTHERS BIG SISTERS OF RHODE ISLAND TO DISTRIBUTE TO THEIR MENTORS AND CHILDREN. EXPERIENCE PPAC CREATES THE OPPORTUNITY FOR EVERY 10TH GRADE STUDENT IN RHODE ISLAND TO SEE A SELECT TOURING BROADWAY PERFORMANCE AT NO COST. SHOW STUDY GUIDES WILL BE PROVIDED TO SCHOOLS PRIOR TO THEIR ATIENDANCE SO THAT THEY CAN ENGAGE IN THE EDUCATIONAL MATERIAL CREATIVE CONCEPTS PRIOR TO ATTENDING. DISNEY MUSICALS IN SCHOOLS CREATES SUSTAINABLE MUSICAL THEATER PROGRAMS IN UNDER-RESOURCED ELEMNTARY SHCOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James L Singleton President | Officer | 29.2 | $267,553 |
Alan J Chille General Manager | Officer | 35.8 | $132,673 |
Judy Ferrieira CFO | Officer | 29.2 | $116,419 |
Paula J Prokop Director Of Marketing | 56.8 | $110,893 | |
Donna Santos Director Of Ticketing | 26 | $109,446 | |
Amanda Bonafine Director Of Concerts | 13 | $107,730 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Philip Tour Llc Show Royalties | 6/29/22 | $4,392,075 |
Lewis Ward Tour Llc Show Royalties | 6/29/22 | $584,989 |
Consigli Construction Co Construction For Facade | 6/29/22 | $1,141,966 |
J&r Advertures Llc Show Royalties | 6/29/22 | $366,031 |
Vstar Entertainment Show Royalties | 6/29/22 | $251,573 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $205,432 |
| Related organizations | $0 |
| Government grants | $10,000,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $297,398 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,502,830 |
| Total Program Service Revenue | $21,436,236 |
| Investment income | $77,497 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $982,471 |
| Net Gain/Loss on Asset Sales | -$461,903 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $922,642 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,498,809 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $31,500 |
| 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. | $666,606 |
| Compensation of current officers, directors, key employees. | $401,392 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,061,235 |
| Pension plan accruals and contributions | $146,025 |
| Other employee benefits | $332,896 |
| Payroll taxes | $492,118 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $140,860 |
| Fees for services: Lobbying | $97,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $126,078 |
| Advertising and promotion | $1,539,197 |
| Office expenses | $298,928 |
| Information technology | $169,658 |
| Royalties | $0 |
| Occupancy | $716,012 |
| Travel | $83,609 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,429,689 |
| Insurance | $138,902 |
| All other expenses | $0 |
| Total functional expenses | $24,654,028 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,839,235 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $392,781 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $36,940 |
| Prepaid expenses and deferred charges | $233,788 |
| Net Land, buildings, and equipment | $11,788,490 |
| Investments—publicly traded securities | $29,693,777 |
| Investments—other securities | $25,100 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $812,175 |
| Total assets | $61,822,286 |
| Accounts payable and accrued expenses | $1,539,882 |
| Grants payable | $0 |
| Deferred revenue | $6,425,387 |
| 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 | $814,075 |
| Total liabilities | $8,779,344 |
| Net assets without donor restrictions | $53,042,942 |
| Net assets with donor restrictions | $0 |
| 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 | $61,822,286 |
Grants Awarded
Over the last fiscal year, Providence Performing Arts Center has awarded $30,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GENERAL SUPPORT | $25,000 |
MUSIC ONE PURPOSE: GENERAL SUPPORT | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Providence Performing Arts Center has recieved totaling $171,074.
| Awarding Organization | Amount |
|---|---|
Robert F Stoico Firstfed Charitable Foundation Swansea, MA PURPOSE: EXEMPT PURPOSE | $30,000 |
Navigant Credit Union Smithfield, RI PURPOSE: CHARITABLE CONTRIBUTIONS | $25,000 |
Harborone Foundation Of Rhode Island Brockton, MA PURPOSE: OTHER | $25,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $20,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: ARTS AND CULTURE | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $15,000 |
Endowment Analysis
| Beg. Balance | $32,965,366 |
| Earnings | -$4,150,796 |
| Ending Balance | $28,814,570 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Providence Performing Arts Center Providence, RI | $61,822,286 | $33,498,809 |
Wang Theatre Inc Boston, MA | $18,276,113 | $31,405,491 |
Horace Bushnell Memorial Hall Corporation Hartford, CT | $69,994,331 | $15,110,595 |
Celebrity Series Of Boston Boston, MA | $21,295,635 | $11,486,131 |
Tremont Theatre Inc Boston, MA | $4,028,653 | $4,834,729 |
Stamford Center For The Arts Inc Stamford, CT | $18,714,807 | $7,026,118 |
Palace Theater Group Inc Waterbury, CT | $7,137,767 | $7,444,031 |
Cabot Performing Arts Center Inc Beverly, MA | $9,302,777 | $5,349,464 |
Boston Center For The Arts Inc Boston, MA | $29,580,802 | $3,268,105 |
The Wang Center For The Performing Arts Inc Boston, MA | $34,395,056 | $6,359,659 |
Worcester County Mechanics Association Worcester, MA | $9,068,606 | $3,158,410 |
South Shore Playhouse Associates Inc Cohasset, MA | $13,347,958 | $641,064 |