Park Theatre Foundation
- Assets
- $240.9k
- Revenue
- $72.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Holland, MI
- Founding
- 03/2002
- Data as of
- 09/2020
- EIN
- 38-3631936
Organization Overview
Park Theatre Foundation is located in Holland, MI. The organization was established in 2002. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Park Theatre Foundation 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 09/2020, Park Theatre Foundation generated $72.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (21.6%) each year. All expenses for the organization totaled $83.4k during the year ending 09/2020. As we would expect to see with falling revenues, expenses have declined by (18.3%) per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
HOLLAND PARK THEATRE IS A HISTORIC, MULTI-USE PERFORMANCE VENUE PROVIDING UNIQUE OPPORTUNITIES TO CREATE AND CELEBRATE THE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT AND OPERATION OF PARK THEATRE IN HOLLAND, MICHIGAN, AS A CULTURAL AND HISTORIC ASSET FOR THE BENEFIT OF THE GREATER HOLLAND COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Schulze President | OfficerTrustee | 6 | $0 |
Dave Staton Secretary | OfficerTrustee | 4 | $0 |
Justin Carter Treasurer | OfficerTrustee | 3 | $0 |
Curt Tofteland Director | Trustee | 3 | $0 |
Jon Cusack Director | Trustee | 3 | $0 |
Lisa Baar Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,270 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $72,887 |
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $9,722 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,724 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $565 |
| Advertising and promotion | $725 |
| Office expenses | $396 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,796 |
| Travel | $0 |
| 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 | $3,620 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $83,449 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,048 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $269 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,222 |
| Other assets | $0 |
| Total assets | $240,858 |
| Accounts payable and accrued expenses | $3,088 |
| Grants payable | $0 |
| Deferred revenue | $6,495 |
| 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 | $92,651 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $102,234 |
| Net assets without donor restrictions | $131,144 |
| Net assets with donor restrictions | $7,480 |
| 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 | $138,624 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Park Theatre Foundation has recieved totaling $22,020.
| Awarding Organization | Amount |
|---|---|
Communtiy Foundation Of The Holland Zeeland Area Holland, MI PURPOSE: GENERAL SUPPORT | $22,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $20 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Detroit Opera Detroit, MI | $46,812,293 | $9,178,032 |
Fox Cities Performing Arts Center Inc Appleton, WI | $82,069,378 | $12,172,619 |
Confluence Council Inc Eau Claire, WI | $3,541,289 | $9,499,634 |
Cincinnati Arts Association Cincinnati, OH | $56,926,622 | $8,741,930 |
Music Hall Center For The Performing Arts Inc Detroit, MI | $3,982,183 | $5,279,340 |
Embassy Theatre Foundation Inc Fort Wayne, IN | $19,673,626 | $5,039,603 |
Great Lakes Center For The Arts Bay Harbor, MI | $37,486,193 | $6,372,255 |
Playhouse Square Development Corporation Cleveland, OH | $842,822 | $0 |
Arts In Stark Canton, OH | $26,886,137 | $1,886,035 |
Michigan Theater Foundation Inc Ann Arbor, MI | $15,884,793 | $2,527,817 |
Theatre Ensemble Rochester, MI | $2,449,527 | $3,723,292 |
Arts Center Foundation Inc Dayton, OH | $75,443,973 | $70,320 |