Interlochen Center For The Arts
- Assets
- $313.1m
- Revenue
- $91.8m
- Investments
- $48.9m
- Employees
- 1,633
- Location
- Interlochen, MI
- Founding
- 12/1963
- Data as of
- 05/2023
- EIN
- 38-1689022
Organization Overview
Interlochen Center For The Arts is located in Interlochen, MI. The organization was established in 1963. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 05/2023, Interlochen Center For The Arts employed 1,633 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Interlochen Center For The Arts 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 05/2023, Interlochen Center For The Arts generated $91.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $83.5m during the year ending 05/2023. While expenses have increased by 5.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENGAGE AND INSPIRE PEOPLE WORLDWIDE THROUGH EXCELLENCE IN EDUCATIONAL, ARTISTIC, AND CULTURAL PROGRAMS, ENHANCING THE QUALITY OF LIFE THROUGH THE UNIVERSAL LANGUAGE OF ARTS
Describe the Organization's Program Activity:
INTERLOCHEN ARTS ACADEMY, THE NATION'S FIRST AND FOREMOST BOARDING FINE ARTS HIGH SCHOOL, UNITES STUDENTS WITH OTHERS WHO VALUE THEIR HIGHEST ASPIRATIONS, CREATING A CLOSE-KNIT ARTISTS' COMMUNITY. OVER 500 OF THE WORLD'S MOST TALENTED AND MOTIVATED YOUNG ARTISTS STUDY MUSIC, DANCE, THEATRE, VISUAL ARTS, CREATIVE WRITING, INTERDISCIPLINARY ARTS, AND FILM AND NEW MEDIA IN A COLLEGE-LIKE SETTING. THEY FIND IN THE ACADEMY A FAST-PACED, CREATIVE ENVIRONMENT THAT CHALLENGES, INSPIRES, AND FOCUSES THEIR TALENTS. WHILE PRODUCING MORE THAN 250 ARTISTIC PRESENTATIONS IN THE SCHOOL YEAR, ACADEMY STUDENTS ALSO MASTER A RIGOROUS COLLEGE PREPARATORY ACADEMIC CURRICULUM THAT PREPARES THEM TO TAKE PROMINENT ROLES IN A WHOLE UNIVERSE OF PROFESSIONAL ENDEAVORS. SEE SCHEDULE O FOR ADDITIONAL INFORMATION.DURING THE SCHOOL YEAR ENDED MAY 31, 2023, THERE WERE 582 STUDENTS, 462 OF WHOM RECEIVED GRANTS.
THE WORLD'S PREMIER SUMMER ARTS PROGRAM FOR ASPIRING ARTISTS FROM GRADES 3 THROUGH 12, INTERLOCHEN ARTS CAMP ATTRACTS STUDENTS, FACULTY, AND STAFF FROM ALL 50 STATES IN THE U.S., AS WELL AS FROM MORE THAN 40 COUNTRIES. THE WORLD'S BEST AND BRIGHTEST STUDENTS TRAIN INTENSIVELY WITH WORLD CLASS INSTRUCTORS AND PRODUCE MORE THAN 400 PRESENTATIONS EACH SUMMER IN DANCE, THEATER, CREATIVE WRITING, VISUAL ARTS, FILM AND NEW MEDIA, AND MUSIC. DURING SUMMER 2022, THERE WERE 3,245 STUDENTS, 1,553 OF WHOM RECEIVED GRANTS
"INTERLOCHEN PRESENTS" BRINGS A WORLD OF SUPERB PRESENTATIONS TO THE DOORSTEP OF NORTHWEST LOWER MICHIGAN, ENHANCING THE REGION'S POSITION ON THE GLOBAL ARTS MAP. MORE THAN 600 EVENTS EACH YEAR BY STUDENTS, FACULTY, AND DISTINGUISHED GUEST ARTISTS MAKE INTERLOCHEN ONE OF THE NATION'S LARGEST ARTS PRESENTERS. THERE IS A COMBINED SEATING CAPACITY OF 12,500, AND THERE ARE APPROXIMATELY 130,000 ATTENDEES ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kurtis Wilder Chair | OfficerTrustee | 1.5 | $0 |
Saul Goldstein Vice-Chair | OfficerTrustee | 1.5 | $0 |
Sarah Harding Vice-Chair | OfficerTrustee | 1.5 | $0 |
Bernetta Avery Trustee | Trustee | 1.5 | $0 |
Keith W Baum Trustee | Trustee | 1.5 | $0 |
Evan Breibart Trustee | Trustee | 1.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Spence Brothers Construction | 5/30/23 | $830,375 |
Springfield Inc Construction | 5/30/23 | $281,485 |
Goldman Sachs And Co Investment Manager | 5/30/23 | $305,028 |
Sheren Plumbing And Heating Plumbing And Heating | 5/30/23 | $194,306 |
Top Line Electric Llc Electrician | 5/30/23 | $172,593 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $248,342 |
| Government grants | $267,979 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,944,201 |
| Noncash contributions included in lines 1a–1f | $1,248,982 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,460,522 |
| Total Program Service Revenue | $61,955,384 |
| Investment income | $6,574,598 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,024,722 |
| Net Gain/Loss on Asset Sales | $709,391 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,116,687 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $91,841,304 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $18,407,539 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,669,119 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,502,429 |
| Compensation of current officers, directors, key employees. | $1,307,992 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $30,095,353 |
| Pension plan accruals and contributions | $1,862,521 |
| Other employee benefits | $3,054,025 |
| Payroll taxes | $2,141,497 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $147,420 |
| Fees for services: Accounting | $117,839 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,386,754 |
| Advertising and promotion | $1,298,715 |
| Office expenses | $4,764,197 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,649,760 |
| Travel | $1,360,075 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $516,317 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,132,021 |
| Insurance | $455,673 |
| All other expenses | $734,293 |
| Total functional expenses | $83,450,726 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,481,365 |
| Savings and temporary cash investments | $7,511,052 |
| Pledges and grants receivable | $16,451,064 |
| 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 | $1,090,017 |
| Prepaid expenses and deferred charges | $810,625 |
| Net Land, buildings, and equipment | $85,775,282 |
| Investments—publicly traded securities | $133,022,645 |
| Investments—other securities | $48,897,484 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,042,325 |
| Total assets | $313,081,859 |
| Accounts payable and accrued expenses | $9,469,140 |
| Grants payable | $0 |
| Deferred revenue | $16,403,178 |
| Tax-exempt bond liabilities | $25,282,144 |
| 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 | $452,051 |
| Total liabilities | $51,606,513 |
| Net assets without donor restrictions | $175,076,053 |
| Net assets with donor restrictions | $86,399,293 |
| 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 | $313,081,859 |