Performing Arts Foundation Of Kansas City
- Assets
- $8.4m
- Revenue
- $2.3m
- Investments
- $2.5m
- Employees
- 24
- Location
- Kansas City, MO
- Founding
- 09/1965
- Data as of
- 06/2021
- EIN
- 43-6054615
Organization Overview
Performing Arts Foundation Of Kansas City, operating under the name Folly Theater, is located in Kansas City, MO. The organization was established in 1965. 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. As of 06/2021, Folly Theater employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Folly Theater 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 06/2021, Folly Theater generated $2.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $911.6k during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE THEATER IS A NOT-FOR-PROFIT CORPORATION ORGANIZED AND OPERATED EXCLUSIVELY FOR THE PROMOTION OF ACTIVITIES TO ENCOURAGE INTEREST IN AND APPRECIATION FOR THE PERFORMING ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES TO ENCOURAGE INTEREST IN AND APPRECIATION FOR THE PERFORMING ARTS INCLUDING: JAZZ SERIES, CHILDREN'S SERIES, AMERICANA SERIES AND OTHER ARTISTIC PRODUCTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gail Tallis Executive Director | Officer | 40 | $86,000 |
Sean Barnard President | OfficerTrustee | 1 | $0 |
Hoang-Anh Tran Vice President | OfficerTrustee | 1 | $0 |
Lyla Perrodin Secretary | OfficerTrustee | 1 | $0 |
Richard Starks Treasurer | OfficerTrustee | 3 | $0 |
Pete Browne Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $238,030 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,874,608 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,112,638 |
| Total Program Service Revenue | $10,128 |
| Investment income | $105,624 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $29,856 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$27,772 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,281,469 |
| 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. | $86,000 |
| Compensation of current officers, directors, key employees. | $43,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $257,548 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $56,591 |
| Payroll taxes | $25,319 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,083 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,545 |
| Office expenses | $42,153 |
| Information technology | $7,111 |
| Royalties | $0 |
| Occupancy | $82,572 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $198 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $201,619 |
| Insurance | $35,515 |
| All other expenses | $23,170 |
| Total functional expenses | $911,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $353,458 |
| Savings and temporary cash investments | $113,997 |
| Pledges and grants receivable | $245,163 |
| 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 | $23,327 |
| Net Land, buildings, and equipment | $5,142,706 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,477,903 |
| Investments—program-related | $0 |
| Intangible assets | $3,083 |
| Other assets | $0 |
| Total assets | $8,359,637 |
| Accounts payable and accrued expenses | $35,830 |
| Grants payable | $0 |
| Deferred revenue | $45,632 |
| 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 | $235,806 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,563 |
| Total liabilities | $338,831 |
| Net assets without donor restrictions | $6,253,010 |
| Net assets with donor restrictions | $1,767,796 |
| 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 | $8,359,637 |
Grants Awarded
Over the last fiscal year, Performing Arts Foundation Of Kansas City has awarded $14,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Kansas City, MO PURPOSE: PROGRAM SERVICES | $8,000 |
Kansas City, MO PURPOSE: PROGRAM SERVICES | $6,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Performing Arts Foundation Of Kansas City has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
John W & Effie E Speas Memorial Trust Dallas, TX PURPOSE: HEARING LOOP TECHNOLOGY AT | $30,000 |
Endowment Analysis
| Beg. Balance | $1,106,877 |
| Earnings | $271,166 |
| Net Contributions | $1,099,860 |
| Ending Balance | $2,477,903 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tennessee Performing Arts Center Management Corporation Nashville, TN | $35,782,071 | $25,885,364 |
Kauffman Center For The Performing Arts Kansas City, MO | $435,789,864 | $9,136,596 |
Starlight Theatre Association Of Kansas City Inc Kansas City, MO | $43,695,119 | $27,963,583 |
Connect2culture Joplin, MO | $4,192,804 | $8,724,322 |
Music And Dance Theater Chicago Inc Chicago, IL | $59,585,451 | $8,251,636 |
Oklahoma Contemporary Arts Center Inc Oklahoma City, OK | $30,073,274 | $4,620,457 |
Historic Tennessee Theatre Foundation Knoxville, TN | $32,949,657 | $9,927,493 |
Tulsa Performing Arts Center Trust Tulsa, OK | $9,008,592 | $6,495,113 |
Producers Live Stock Cr Corp Omaha, NE | $188,745,900 | $8,023,454 |
Luther F Carson Four Rivers Center Inc Paducah, KY | $59,072,684 | $5,458,266 |
Firehouse Community Arts Center Of Chicago Chicago, IL | $572,664 | $2,968,045 |
Arts Of Southern Kentucky Inc Bowling Green, KY | $7,056,878 | $5,434,508 |