Adrienne Arsht Center Foundation Inc
- Assets
- $2.6m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 2
- Location
- Miami, FL
- Founding
- 08/2008
- Data as of
- 09/2023
- EIN
- 26-2567808
Organization Overview
Adrienne Arsht Center Foundation Inc is located in Miami, FL. The organization was established in 2008. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, Adrienne Arsht Center Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adrienne Arsht Center Foundation 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 09/2023, Adrienne Arsht Center Foundation Inc generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $6.3m during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE OPERATING SUPPORT FOR THE ADRIENNE ARSHT CENTER FOR THE PERFORMING ARTS (A NOT-FOR-PROFIT ORGANIZATION)BY RAISING PRIVATE CONTRIBUTIONS TO HELP THE CENTER PRESENT HIGH-QUALITY PERFORMANCES AND EDUCATIONAL PROGRAMS FOR SOUTH FLORIDA'S DIVERSE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADRIENNE ARSHT CENTER FOUNDATION, INC. RAISES PRIVATE CONTRIBUTIONS OF FUNDS AND IN-KIND GIFTS FOR THE ADRIENNE ARSHT CENTER TRUST, INC., A FLORIDA NON-PROFIT CORPORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adrienne Arsht Founding Chairman | OfficerTrustee | 1 | $0 |
Eric G Johnson Chairman | OfficerTrustee | 1 | $0 |
Nancy Batchelor Secretary | OfficerTrustee | 1 | $0 |
Lee E Caplin Director | Trustee | 1 | $0 |
Trish Bell Director | Trustee | 1 | $0 |
Nichole Scott Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $470,074 |
| Fundraising events | $717,250 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $864,888 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,052,212 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$321,856 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,730,356 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,423,338 |
| 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. | $356,205 |
| Compensation of current officers, directors, key employees. | $15,851 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $337,952 |
| Pension plan accruals and contributions | $11,038 |
| Other employee benefits | $13,763 |
| Payroll taxes | $29,750 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,627 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $682 |
| 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 | $1,500 |
| Insurance | $0 |
| All other expenses | $17,275 |
| Total functional expenses | $6,251,130 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $426,824 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,185,504 |
| Accounts receivable, net | $0 |
| 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 | $1,349 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,000 |
| Total assets | $2,623,677 |
| Accounts payable and accrued expenses | $31,742 |
| Grants payable | $0 |
| Deferred revenue | $187,500 |
| 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 | $0 |
| Total liabilities | $219,242 |
| Net assets without donor restrictions | $350,994 |
| Net assets with donor restrictions | $2,053,441 |
| 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 | $2,623,677 |