City Center of Music and Drama INC
- Assets
- $89.3m
- Revenue
- $11.4m
- Investments
- $7.6m
- Employees
- 484
- Location
- New York, NY
- Founding
- Data as of
- 06/2017
- EIN
- 13-1813808
Organization Overview
City Center of Music and Drama INC is located in New York, NY. As of 06/2017, City Center of Music and Drama INC employed 484 individuals. City Center of Music and Drama 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 06/2017, City Center of Music and Drama INC generated $11.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (7.7%) each year. All expenses for the organization totaled $16.3m during the year ending 06/2017. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 3 years. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO MAINTAIN AND OPERATE THE DAVID H. KOCH THEATER FOR THE PRESENTATION OF THE PERFORMING ARTS, PRIMARILY DANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DAVID H. KOCH THEATER AND ITS AUDITORIUM WERE BUILT IN 1964 BY ARCHITECT PHILIP JOHNSON. SINCE 2012, NEW YORK CITY BALLET ("CITY BALLET") HAS BEEN THE SOLE TENANT OF THE THEATER AND PERFORMS IN THE HALL FOR 22 WEEKS OF EACH CALENDAR YEAR. CITY BALLET'S 163 PERFORMANCES AND DOZENS OF PUBLIC PROGRAMS ANNUALLY DRAW HUNDREDS OF THOUSANDS OF U.S. AND FOREIGN VISITORS. THE THEATER IS RENTED TO OTHER DANCE COMPANIES OF NOTE WHEN CITY BALLET IS NOT IN SEASON. ITS ANNUAL PERFORMANCE CALENDAR INCLUDES RESIDENCIES BY THE PAUL TAYLOR DANCE COMPANY, THE ALVIN AILEY AMERICAN DANCE THEATER, AND THE AMERICAN BALLET THEATRE. THE JOYCE THEATER AND THE LINCOLN CENTER FESTIVAL ALSO REGULARLY PRESENT A VARIETY OF DANCE PERFORMANCES. THE THEATER HOSTS OTHER NATIONAL AND INTERNATIONAL PERFORMING GROUPS DURING THE YEAR SUCH AS, ROYAL DANISH BALLET, AUSTRALIAN BALLET, MIAMI CITY BALLET, SAN FRANCISCO BALLET, AND THE BOSTON BALLET. IN ADDITION TO PERFORMING ARTS ORGANIZATIONS, CORPORATE AND OTHER NON-PROFIT ORGANIZATIONS OCCASIONALLY RENT THE THEATER FOR CONVENTIONS, GALAS, AND CONFERENCES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Lavaia Master Carpenter | 60 | $234,171 | |
Ben Dancyger Property Master | 60 | $226,159 | |
David Thiele Managing Director | Officer | 40 | $205,116 |
Iris Novack Director | 60 | $195,885 | |
Timothy Odell Assistant Property Manager | 60 | $190,290 | |
Thomas Maher Master Electrician | 60 | $178,158 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Proskauer Legal | 6/29/17 | $161,318 |
Eisneramper Llp Audit And Tax | 6/29/17 | $137,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,363,626 |
| Investment income | $122,217 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,316 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,364,838 |
| Statement of Expenses | |
|---|---|
| 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. | $210,125 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,463,030 |
| Pension plan accruals and contributions | $1,325,234 |
| Other employee benefits | $1,797,200 |
| Payroll taxes | $867,315 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $170,353 |
| Fees for services: Accounting | $120,000 |
| Fees for services: Lobbying | $52,258 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $202,810 |
| Advertising and promotion | $0 |
| Office expenses | $316,893 |
| Information technology | $278,647 |
| Royalties | $0 |
| Occupancy | $3,463,560 |
| Travel | $7,681 |
| 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 | $4,145,366 |
| Insurance | $551,708 |
| All other expenses | $0 |
| Total functional expenses | $16,324,998 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,300 |
| Savings and temporary cash investments | $3,240,004 |
| Pledges and grants receivable | $1,000 |
| Accounts receivable, net | $3,011,708 |
| 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 | $309,412 |
| Investments—publicly traded securities | $10,703,977 |
| Investments—other securities | $7,564,961 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $89,335,978 |
| Accounts payable and accrued expenses | $1,751,125 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $6,251,977 |
| Total liabilities | $8,003,102 |
| Net assets without donor restrictions | $81,204,298 |
| Net assets with donor restrictions | $128,578 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $81,332,876 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that City Center of Music and Drama INC has recieved totaling $15,000,000.
| Awarding Organization | Amount |
|---|---|
David H Koch Charitable Foundation Wichita, KS PURPOSE: RENOVATION OF NEW YORK STATE THEATRE BUILDING | $15,000,000 |
Endowment Analysis
| Beg. Balance | $2,062,020 |
| Earnings | $777,806 |
| Net Contributions | $15,501,502 |
| Ending Balance | $18,341,328 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brooks-Tlc Hospital System Inc Dunkirk, NY | $43,332,954 | $53,462,246 |
Rivier University Nashua, NH | $135,744,912 | $55,240,683 |
Enterprise Community Development Inc Columbia, MD | $150,433,261 | $43,987,858 |
The Actors Fund Of America New York, NY | $147,965,954 | $61,544,838 |
Dexter Southfield Inc Brookline, MA | $119,216,504 | $58,438,330 |
Goldman Sachs Foundation New York, NY | $0 | $131,861,636 |
Rye Country Day School Rye, NY | $168,719,071 | $53,917,933 |
Goodwill Easter Seals Miami Valley Dayton, OH | $85,565,204 | $56,204,309 |
American Federation Of State County & Municipal Employees New York, NY | $77,027,109 | $53,363,394 |
Chesapeake Regional Information System For Our Patients Inc Columbia, MD | $18,949,461 | $51,004,961 |
New York Armenian Home Inc Forest Hills, NY | $920,237 | $91,924 |
Citihope International Inc Margaretsville, NY | $17,709,063 | $34,849,219 |