Payomet
- Assets
- $1.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 22
- Location
- Truro, MA
- Founding
- 12/2017
- Data as of
- 12/2021
- EIN
- 47-4054420
Organization Overview
Payomet is located in Truro, MA. The organization was established in 2017. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Payomet employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Payomet 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 12/2021, Payomet generated $1.6m in total revenue. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 74.4% per year over the past 6 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
A PERFORMANCE ARTS CENTER PROVIDING MUSICAL AND THEATRICAL ENTERTAINMENT AS WELL AS EDUCATIONAL PROGRAMMING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PERFORMANCES IN THEATER, MUSIC, AND DANCE PRESENTED FOR THE BENEFIT OF THE OUTER CAPE RESIDENTS AND VISITORS AND SUMMER CIRCUS CLASSES FOR CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Rice Executive Di | Trustee | 40 | $82,500 |
Russell Braun Treasurer | OfficerTrustee | 2 | $0 |
David Lubin President | OfficerTrustee | 2 | $0 |
Claire Adams Director | Trustee | 1 | $0 |
Ellen Covell Director | Trustee | 1 | $0 |
Ellen Kumata Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $656,990 |
| All other contributions, gifts, grants, and similar amounts not included above | $286,195 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $943,185 |
| Total Program Service Revenue | $535,843 |
| Investment income | $89 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $23,000 |
| Net Income from Fundraising Events | $92,392 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,608,583 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $313,017 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $337 |
| Payroll taxes | $29,682 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $50,524 |
| Advertising and promotion | $57,693 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $99,156 |
| 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 | $42,027 |
| Insurance | $6,089 |
| All other expenses | $0 |
| Total functional expenses | $1,154,478 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $479,444 |
| Savings and temporary cash investments | $362,005 |
| Pledges and grants receivable | $153,662 |
| 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 | $700 |
| Prepaid expenses and deferred charges | $5,950 |
| Net Land, buildings, and equipment | $241,466 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,243,227 |
| Accounts payable and accrued expenses | $10,197 |
| Grants payable | $0 |
| Deferred revenue | $251,796 |
| 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 | $261,993 |
| Net assets without donor restrictions | $972,634 |
| Net assets with donor restrictions | $8,600 |
| 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 | $1,243,227 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Payomet has recieved totaling $158,050.
| Awarding Organization | Amount |
|---|---|
Klarman Family Foundation Boston, MA PURPOSE: FUNDER COLLABORATIONS AND BOLD BETS: UNRESTRICTED OPERATING SUPPORT FOR FISCAL YEARS 2021, 2022, AND 2023, AS A PART OF THE BARR-KLARMAN MASSACHUSETTS ARTS INITIATIVE (RAPID RESPONSE) | $92,500 |
Klarman Family Foundation Boston, MA PURPOSE: FUNDER COLLABORATIONS AND BOLD BETS: UNRESTRICTED OPERATING SUPPORT FOR FISCAL YEARS 2021, 2022, AND 2023, AS A PART OF THE BARR-KLARMAN MASSACHUSETTS ARTS INITIATIVE (RAPID RESPONSE) | $55,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $8,550 |
Cape Cod 5 Foundation Inc Hyannis, MA PURPOSE: DONATION | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bric Arts Media Bklyn Inc Brooklyn, NY | $22,086,824 | $12,315,164 |
The Apollo Theater Foundation Inc New York, NY | $69,978,827 | $33,324,849 |
New Haven Center For Performing Arts Inc Waterbury, CT | $12,801,705 | $9,109,828 |
Shen Yun Performing Arts Inc Cuddebackville, NY | $196,627,077 | $30,836,971 |
Foundation For Contemporary Arts Inc New York, NY | $44,020,214 | $7,582,108 |
National Comedy Center Operator Inc Jamestown, NY | $24,581,570 | $2,926,105 |
World Trade Center Performing Arts Center Inc New York, NY | $505,865,812 | $148,493,145 |
Stadium Theatre Foundation Woonsocket, RI | $8,192,971 | $3,878,181 |
As 220 Providence, RI | $18,007,342 | $2,188,031 |
Rosies Theater Kids Inc New York, NY | $7,813,636 | $2,330,340 |
Patchogue Village Center For The Performing Arts Inc Patchogue, NY | $1,959,065 | $2,916,141 |
Young Audiences Inc New York, NY | $8,115,904 | $1,935,453 |