Pittsburgh Trust For Cultural Resources
- Assets
- $219.7m
- Revenue
- $95.6m
- Investments
- $6.8m
- Employees
- 544
- Location
- Pittsburgh, PA
- Founding
- 07/1984
- Data as of
- 12/2022
- EIN
- 25-1469002
Organization Overview
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 12/2023, Pittsburgh Cultural Trust employed 544 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 12/2022, Pittsburgh Cultural Trust generated $95.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $62.9m during the year ending 12/2022. While expenses have increased by 1.9% per year over the past 8 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 ADVANCE THE REGION'S ECONOMY THROUGH THE DEVELOPMENT OF PITTSBURGH'S CULTURAL DISTRICT
Describe the Organization's Program Activity:
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. THE TRUST IS ALSO A PROUD EXHIBITOR OF LOCAL, NATIONAL AND INTERNATIONAL VISUAL ART AND THE CREATOR OF ART GALLERIES: WOOD STREET GALLERIES, SPACE; 707 PENN; 820 LIBERTY AND 937 LIBERTY.
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. THE TRUST MANAGES OVER 1.3 MILLION SQUARE FEET OF PROPERTY INCLUDING THE BENEDUM CENTER, BYHAM, O'REILLY, GREER, AND HARRIS THEATERS AS WELL AS EDUCATION FACILITIES AND VISUAL ART GALLERIES.
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. THE TRUST IS ALSO A WORLD LEADER IN ARTS COLLABORATION AMONG PERFORMING ARTS ORGANIZATIONS. THROUGH ITS SHARED SERVICES DEPARTMENT AND TESSITURA SERVICE BUREAU, THE TRUST INCREASES EFFICIENCIES AND DECREASES COSTS FOR TEN OTHER ARTS ORGANIZATIONS. CONTINUED ON SCHEDULE O.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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Kevin Mcmahon President And CEO | OfficerTrustee | 60 | $912,107 |
Deborah Acklin Trustee (exited 07/2022) | Trustee | 0.4 | $0 |
Jane C Arkus Trustee (exited 08/2022) | Trustee | 0.4 | $0 |
Chester Babst III Trustee | Trustee | 0.4 | $0 |
Jill M Brodbeck Trustee | Trustee | 0.4 | $0 |
Esther L Bush Trustee | Trustee | 0.4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flyspace Productions Llc Event Production | 12/30/22 | $1,720,635 |
Black Knight Security Security | 12/30/22 | $1,259,526 |
Jendoco Construction Corp Construction Services | 12/30/22 | $957,491 |
Guardian Construction Construction Services | 12/30/22 | $426,107 |
Abm Building Custodial Services | 12/30/22 | $681,651 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $314,400 |
| Related organizations | $425,839 |
| Government grants | $4,317,480 |
| All other contributions, gifts, grants, and similar amounts not included above | $43,237,878 |
| Noncash contributions included in lines 1a–1f | $4,076,950 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $48,295,597 |
| Total Program Service Revenue | $46,632,466 |
| Investment income | $921,460 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$779,268 |
| Net Gain/Loss on Asset Sales | $858,682 |
| Net Income from Fundraising Events | -$282,946 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $95,645,991 |
| 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. | $1,970,935 |
| Compensation of current officers, directors, key employees. | $533,513 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,256,188 |
| Pension plan accruals and contributions | $869,285 |
| Other employee benefits | $1,148,106 |
| Payroll taxes | $645,013 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $109,695 |
| Fees for services: Accounting | $151,734 |
| Fees for services: Lobbying | $24,695 |
| Fees for services: Fundraising | $144,500 |
| Fees for services: Investment Management | $84,938 |
| Fees for services: Other | $384,162 |
| Advertising and promotion | $0 |
| Office expenses | $512,932 |
| Information technology | $1,145,320 |
| Royalties | $0 |
| Occupancy | $6,949,345 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $229,097 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,055,882 |
| Insurance | $847,094 |
| All other expenses | $0 |
| Total functional expenses | $62,934,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,286,970 |
| Savings and temporary cash investments | $44,404,679 |
| Pledges and grants receivable | $35,565,409 |
| Accounts receivable, net | $5,461,211 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,880,258 |
| Inventories for sale or use | $18,478 |
| Prepaid expenses and deferred charges | $963,970 |
| Net Land, buildings, and equipment | $79,125,406 |
| Investments—publicly traded securities | $30,352,618 |
| Investments—other securities | $6,796,761 |
| Investments—program-related | $0 |
| Intangible assets | $121,350 |
| Other assets | $3,716,934 |
| Total assets | $219,694,044 |
| Accounts payable and accrued expenses | $4,657,455 |
| Grants payable | $0 |
| Deferred revenue | $16,501,551 |
| 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 | $3,845,040 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,978,918 |
| Total liabilities | $28,982,964 |
| Net assets without donor restrictions | $111,244,199 |
| Net assets with donor restrictions | $79,466,881 |
| 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 | $219,694,044 |