Pittsburgh Trust For Cultural Resources, operating under the name Pittsburgh Cultural Trust, is located in Pittsburgh, PA. The organization was established in 1984. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Pittsburgh Cultural Trust employed 406 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pittsburgh Cultural Trust 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 12/2021, Pittsburgh Cultural Trust generated $50.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $31.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.5%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE REGION'S ECONOMY THROUGH THE DEVELOPMENT OF PITTSBURGH'S CULTURAL DISTRICT
Describe the Organization's Program Activity:
FACILITIES MANAGEMENT & REAL ESTATE DEVELOPMENT: THROUGH PUBLIC AND PRIVATE PARTNERSHIPS, A CRITICAL MISSION OF THE TRUST IS TO TRANSFORM DOWNTOWN PITTSBURGH. WHAT WAS ONCE A DOWNTRODDEN AREA LINED WITH NOXIOUS ESTABLISHMENTS IS NOW A DYNAMIC 14-BLOCK HUB FOR ARTS, ENTERTAINMENT, BUSINESS & URBAN LIVING. THE TRUST STEADILY UPGRADES THE DISTRICT'S PHYSICAL LOOK, FEEL & EXPERIENCE THROUGH PROJECTS SUCH AS IMPROVING STREETSCAPES, BUILDING RESTORATION, AND ESTABLISHING PUBLIC PARKS AND PLAZAS, AS WELL AS OUTDOOR ART SPACE. THIS MISSION WAS NEVER MORE IMPORTANT THAN DURING THE PANDEMIC WHEN THE TRUST'S MANAGEMENT, MAINTENANCE AND SUPPORT OF OVER 1,300,000 SQUARE FEET OF PROPERTY, SUCH AS: THE BENEDUM CENTER; BYHAM, O'REILLY, & HARRIS THEATERS; THEATER SQUARE; AND ARTS EDUCATION CENTER AMONG OTHER DOWNTOWN GALLERIES & PROPERTIES PRESERVED, MAINTAINED AND MADE PUBLIC HEALTH AND SAFETY ENHANCEMENTS TO THESE VENUES TO HELP SAFELY WELCOME THE PUBLIC'S RETURN TO THESE MAGNIFICENT REGIONAL ASSETS.THE COVID-19 PANDEMIC CONTINUED TO MAKE AN IMPACT ON VENUE PROGRAMMING FROM ALL USERS OF THESE FACILITIES, SIGNIFICANTLY AFFECTING RENTAL REVENUE, TICKET SALES AND BRINGING THE OVERALL REVENUE DOWN. MAINTENANCE OF ALL THE FACILITIES IN ADDITION TO COSTS ASSOCIATED WITH THE PROVISION OF SHARED SERVICES TO RESIDENT COMPANIES WERE INCURRED WITHOUT SUFFICIENT CORRESPONDING REVENUE. THE TRUST WAS ABLE TO BEGIN TO REOPEN THE FACILITIES IN SEPTEMBER OF 2021.
PRESENTING AND PROGRAMMING: THE TRUST BRINGS THE WORLD'S FINEST PERFORMANCES AND VISUAL ARTS TO WESTERN PA. EACH YEAR, OVER 1,700 EVENTS, PROGRAMS & EXHIBITIONS OCCUR IN TRUST FACILITIES & THROUGHOUT THE CULTURAL DISTRICT, ATTRACTING OVER TWO MILLION VISITORS. THE TRUST PRESENTS & SUPPORTS DIVERSE PERFORMING ART, INCLUDING PNC BROADWAY ACROSS AMERICA - PITTSBURGH, PITTSBURGH DANCE COUNCIL, TRUST PRESENTS, PITTSBURGH INTERNATIONAL CHILDREN'S THEATER & FESTIVAL, FIRST NIGHT, AND THREE RIVERS ARTS FESTIVAL AMONG OTHERS. WITH THE PANDEMIC ONGOING THROUGH 2021, THE TRUST CONTINUED TO PRESENT AND CONNECT THE PUBLIC TO THE ARTS THROUGH DIGITAL MEDIUM AND BEGAN TO PRESENT LIVE ENTERTAINMENT AS THE FACILITIES OPENED IN SEPTEMBER 2021. THE FREE PROGRAMMING EXPOSED THE ARTS TO MANY FIRST TIME VISITORS. THE TRUST'S ABILITY TO PIVOT TO VIRTUAL PROGRAMMING WAS CRITICALLY IMPORTANT TO THE HEALTH, WELL-BEING AND EDUCATION OF THE REGION'S CITIZENRY.THE TRUST IS ALSO A PROUD EXHIBITOR OF CUTTING-EDGE ART & THE CREATOR OF CONTEMPORARY ART GALLERIES: WOOD STREET GALLERIES, SPACE; 707 PENN; THE LANTERN GALLERY, AND CARNEGIE MELLON UNIVERSITY'S STUDENT-RUN FUTURE TENANT. WHILE MANY OF THESE VENUES WERE SHUTTERED DURING THE YEAR, THE TEAM TURNED ITS FOCUS TO LIMITED DIGITAL PROGRAMMING AND FUTURE ARTISTIC PLANNING.
EDUCATION, COMMUNITY OUTREACH & ARTS SERVICES: THE TRUST OFFERS A RANGE OF EDUCATIONAL EVENTS & ACTIVITIES FOR STUDENTS, EDUCATORS & UNDERSERVED POPULATIONS OF ALL AGES & BACKGROUNDS TO DEVELOP DIVERSE & VIBRANT ARTS AUDIENCES FOR THE FUTURE. ANNUALLY, THE TRUST SERVES OVER 100,000 STUDENTS, EDUCATORS & COMMUNITY MEMBERS IN WESTERN PENNSYLVANIA & SUPPORTS MORE THAN 1,000 AREA ARTISTS & ARTS ORGANIZATIONS. DURING THE PANDEMIC, THE TRUST'S MARKETING AND TECHNOLOGY TEAMS DEVELOPED VIRTUAL ART MARKET PLACE AND VIRTUAL CONTENT TO CONTINUE ITS EDUCATIONAL PURPOSE. THAT ALLOWED THE TRUST TO REACH ITS AUDIENCE AND DELIVER THE PROGRAMMING EVEN DURING THE PANDEMIC. THE TRUST IS ALSO A WORLD LEADER IN ARTS COLLABORATION AMONG PERFORMING ARTS ORGANIZATIONS. THROUGH ITS SHARED SERVICES DEPARTMENT, THE TRUST INCREASES EFFICIENCIES AND DECREASES COSTS FOR SIX CULTURAL DISTRICT ORGANIZATIONS. FURTHER, THE TRUST HELPS ARTS ORGANIZATIONS WITH HIGHLY SUBSIDIZED RATES FOR PERFORMANCES/OFFICE SPACE, ALLOWING THEM TO INVEST MORE RESOURCES INTO THEIR CORE ARTISTIC MISSIONS. THIS WORK CONTINUED THROUGHOUT THE PANDEMIC.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
J Kevin Mcmahon President And CEO | OfficerTrustee | 60 | $724,321 |
Rona Nesbit Executive Vice President | Officer | 42 | $357,349 |
Nick Gigante VP Of Development | Officer | 42 | $217,343 |
Marc Fleming VP Of Marketing | Officer | 34 | $210,219 |
Scott Shiller VP Of Artistic Planning | Officer | 34 | $209,198 |
Daniel Hoffer Chief Information Officer | 34 | $195,685 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Flyspace Productions Llc Event Production | 12/30/21 | $983,419 |
Abm Building Custodial Services | 12/30/21 | $256,027 |
Trigate Incorporated Property Management | 12/30/21 | $205,130 |
Black Knight Security Security | 12/30/21 | $614,688 |
Grand View Realty Services Inc Real Estate Services | 12/30/21 | $152,050 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $221,052 |
Related organizations | $346,974 |
Government grants | $10,406,330 |
All other contributions, gifts, grants, and similar amounts not included above | $24,857,910 |
Noncash contributions included in lines 1a–1f | $785,600 |
Total Revenue from Contributions, Gifts, Grants & Similar | $35,832,266 |
Total Program Service Revenue | $12,423,451 |
Investment income | $931,682 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | -$613,446 |
Net Gain/Loss on Asset Sales | $2,108,039 |
Net Income from Fundraising Events | -$80,179 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $50,601,813 |
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. | $1,658,516 |
Compensation of current officers, directors, key employees. | $368,051 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $7,058,063 |
Pension plan accruals and contributions | $642,468 |
Other employee benefits | $1,192,026 |
Payroll taxes | $689,083 |
Fees for services: Management | $0 |
Fees for services: Legal | $15,247 |
Fees for services: Accounting | $174,281 |
Fees for services: Lobbying | $25,029 |
Fees for services: Fundraising | $99,000 |
Fees for services: Investment Management | $131,106 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $477,199 |
Information technology | $1,023,478 |
Royalties | $0 |
Occupancy | $5,800,765 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $138,659 |
Interest | $57,125 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,055,882 |
Insurance | $725,704 |
All other expenses | $0 |
Total functional expenses | $31,275,992 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $5,390,816 |
Savings and temporary cash investments | $39,891,453 |
Pledges and grants receivable | $12,616,583 |
Accounts receivable, net | $4,535,609 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $5,739,696 |
Inventories for sale or use | $18,478 |
Prepaid expenses and deferred charges | $843,319 |
Net Land, buildings, and equipment | $77,979,902 |
Investments—publicly traded securities | $35,318,784 |
Investments—other securities | $6,262,870 |
Investments—program-related | $0 |
Intangible assets | $121,350 |
Other assets | $298,130 |
Total assets | $189,016,990 |
Accounts payable and accrued expenses | $3,236,823 |
Grants payable | $0 |
Deferred revenue | $18,455,278 |
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 | $3,931,888 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $625,942 |
Total liabilities | $26,249,931 |
Net assets without donor restrictions | $93,677,078 |
Net assets with donor restrictions | $69,089,981 |
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 | $189,016,990 |
Over the last fiscal year, we have identified 1 grants that Pittsburgh Trust For Cultural Resources has recieved totaling $21,500.
Awarding Organization | Amount |
---|---|
Glenlaurel Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $21,500 |
Beg. Balance | $35,870,097 |
Earnings | $7,219,738 |
Admin Expense | $92,200 |
Net Contributions | $1,442,112 |
Other Expense | $1,680,000 |
Ending Balance | $42,759,747 |
Organization Name | Assets | Revenue |
---|---|---|
Music And Event Management Inc Cincinnati, OH | $33,809,112 | $73,072,797 |
Cuyahoga County Convention Facilities Development Corporation Cleveland, OH | $27,851,572 | $49,456,687 |
Shed Nyc Inc New York, NY | $621,442,218 | $102,270,782 |
Westchester Academic Library Directors Organization Inc New York, NY | $47,276,623 | $38,534,511 |
Pro Publica Inc New York, NY | $60,782,681 | $36,005,300 |
Pittsburgh Trust For Cultural Resources Pittsburgh, PA | $189,016,990 | $50,601,813 |
Dia Center For The Arts Inc New York, NY | $215,209,262 | $19,693,933 |
Munson-Williams-Proctor Arts Institute Utica, NY | $139,434,457 | $25,944,561 |
Bethel Woods Center For The Arts Inc Liberty, NY | $30,099,296 | $24,809,456 |
Artsquest Bethlehem, PA | $46,615,180 | $27,430,533 |
Lincoln Park Performing Arts Center Midland, PA | $37,610,958 | $11,880,429 |
Clay Center For The Arts & Sciences Of West Virginia Inc Charleston, WV | $104,991,627 | $9,740,232 |