Peace Center Foundation
- Assets
- $99.7m
- Revenue
- $17.6m
- Investments
- $14.3m
- Employees
- 204
- Location
- Greenville, SC
- Founding
- 02/1987
- Data as of
- 08/2021
- EIN
- 57-0811297
Organization Overview
Peace Center Foundation, operating under the name Peace Center, is located in Greenville, SC. The organization was established in 1987. 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 08/2023, Peace Center employed 204 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peace Center 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 08/2021, Peace Center generated $17.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $7.0m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (13.5%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENRICH THE LIVES OF EVERYONE WE ENCOUNTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PEACE CENTER PRESENTS HIGH QUALITY AND CULTURALLY SIGNIFICANT PERFORMING ARTISTS OF VARIED GENRES. THE ESTABLISHMENT OF THE VENUE AND RESULTANT PROGRAMMING MAKE THE PERFORMING ARTS ACCESSIBLE TO THE REGIONAL COMMUNITY. PERFORMANCES INCLUDE BROADWAY SHOWS, DANCE, FOLK, CLASSICAL, CHORAL, INTERNATIONAL, BLUES, ROCK, JAZZ, AND OPERA. THE PEACE CENTER SERVES AS THE PRIMARY VENUE FOR LOCAL PERFORMING ARTS ORGANIZATIONS TO PRESENT PROGRAMMING GEAR TO THAT ORGANIZATION'S SPECIFIC ART FOCUS. THE PEACE CENTER'S RESIDENT COMPANIES INCLUDE THE GREENVILLE SYMPHONY ORCHESTRA, CAROLINA BALLET, INTERNATIONAL BALLET, AND SOUTH CAROLINA GOVERNOR'S SCHOOL FOR THE ARTS AND HUMANITIES. THE PEACE CENTER PROVIDES PROFESSIONAL FACILITY AND EVENT SERVICES AT SIGNIFICANTLY SUBSIDIZED RATES TO FISCALLY SUPPORT THE EFFORTS OF THESE LOCAL PERFORMING ARTS ORGANIZATIONS. THE PEACE CENTER'S COMMUNITY ENGAGEMENT INITIATIVES SEEK TO TELL STORIES, AMPLIFY VOICES, EDUCATE AND INSPIRE THROUGH THE ARTS. OUR AIM IN COMMUNITY ENGAGEMENT IS TO CREATE A MORE INCLUSIVE PEACE CENTER BY PARTNERING WITH ORGANIZATIONS TO INCREASE ACCESSIBILITY TO PROGRAMMING, TO REPRESENT THE VAST DIVERSITY OF OUR COMMUNITY, AND TO BE A WELCOMING SPACE FOR ALL TO EXPERIENCE PERFORMING ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn Harton Chairman | OfficerTrustee | 1 | $0 |
Jim Akerhielm Treasurer | OfficerTrustee | 1 | $0 |
Cleve Cristophe Secretary | OfficerTrustee | 1 | $0 |
Karen Baynes-Dunning Board Member | Trustee | 1 | $0 |
Marion Crawford Board Member | Trustee | 1 | $0 |
Paul Gaeto Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Angelica Tour Llc Artist Contract | 8/30/23 | $3,344,548 |
Buena Vista Theatrical Group Artist Contract | 8/30/23 | $1,557,518 |
Get Ready Artist Contract | 8/30/23 | $732,054 |
Mean Girls National Tour Artist Contract | 8/30/23 | $713,749 |
Fiddler Artist Contract | 8/30/23 | $690,636 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,634,419 |
| Investment income | $980,584 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $635,756 |
| Net Gain/Loss on Asset Sales | $1,158,097 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $49,013 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,581,209 |
| 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. | $884,624 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,405,626 |
| Pension plan accruals and contributions | $77,949 |
| Other employee benefits | $228,187 |
| Payroll taxes | $192,498 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,461 |
| Fees for services: Accounting | $24,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $228,137 |
| Fees for services: Other | $500,112 |
| Advertising and promotion | $74,581 |
| Office expenses | $218,852 |
| Information technology | $63,509 |
| Royalties | $3,060 |
| Occupancy | $374,022 |
| Travel | $9,591 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $43,685 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,171,340 |
| Insurance | $172,499 |
| All other expenses | $0 |
| Total functional expenses | $7,034,741 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,326 |
| Savings and temporary cash investments | $28,767,413 |
| Pledges and grants receivable | $129,340 |
| 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 | $40,447 |
| Prepaid expenses and deferred charges | $401,732 |
| Investments—publicly traded securities | $27,229,074 |
| Investments—other securities | $14,252,037 |
| Investments—program-related | $23,476,814 |
| Intangible assets | $0 |
| Other assets | $461,073 |
| Total assets | $99,689,105 |
| Accounts payable and accrued expenses | $683,290 |
| Grants payable | $0 |
| Deferred revenue | $11,300,943 |
| 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 | $11,984,233 |
| Net assets without donor restrictions | $87,474,498 |
| Net assets with donor restrictions | $230,374 |
| 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 | $87,704,872 |