Raymond F Kravis Center For The Performing Arts Inc
- Assets
- $195.7m
- Revenue
- $38.9m
- Investments
- $0.0
- Employees
- 214
- Location
- West Palm Beach, FL
- Founding
- 09/1983
- Data as of
- 06/2022
- EIN
- 59-2245054
Organization Overview
Raymond F Kravis Center For The Performing Arts Inc is located in West Palm Beach, FL. The organization was established in 1983. 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 06/2022, Raymond F Kravis Center For The Performing Arts Inc employed 214 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Raymond F Kravis Center For The Performing Arts Inc 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 06/2022, Raymond F Kravis Center For The Performing Arts Inc generated $38.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $32.5m during the year ending 06/2022. While expenses have increased by 1.9% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRESENT A DIVERSE SCHEDULE OF PERFORMING ARTISTS, FOSTER ARTS EDUCATION, AND SUPPORT TOURISM.
Describe the Organization's Program Activity:
MAIN/BROADWAY AND CLASSICAL PERFORMANCE SERIES - PROVIDE THE COMMUNITY WITH THEATRICAL, DANCE, AND MUSICAL REPRESENTATIONS TO BROADEN THE COMMUNITY'S EXPOSURE TO THE PERFORMANCE ARTS. 106 SHOWS.
COMMUNITY OUTREACH/ EDUCATIONAL - PROVIDE EXPOSURE TO PERFORMING ARTS TO SCHOOL CHILDREN AND OTHER SEGMENTS OF THE COMMUNITY AT AFFORDABLE PRICES. 42 EVENTS.
ADULTS AT LEISURE SERIES - SERIES OF DIVERSE MATINEE PROGRAMS AIMED AT MAKING THE ARTS AVAILABLE TO THE COMMUNITY'S SENIOR CITIZENS AT AFFORDABLE PRICES. 6 SHOWS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex W Dreyfoos Director | Trustee | 2 | $0 |
Sherry Endelsen Director | Trustee | 2 | $0 |
Penny Bank Director | Trustee | 2 | $0 |
William A Meyer Director | Trustee | 2 | $0 |
Sherry Barrat Vice Chairman | OfficerTrustee | 2 | $0 |
Irene Karp Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Autumn Smile Us Tour Llc Artist Performance | 6/29/22 | $700,959 |
Theatrical Payroll Service Florida Inc Stage Labor | 6/29/22 | $968,608 |
Fish With Cheese Limited Partnership Artist Performance | 6/29/22 | $392,191 |
Cats Touring Ne Llc Artist Performance | 6/29/22 | $373,013 |
My Fair Lady On Tour Llc Artist Performance | 6/29/22 | $418,100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,070,128 |
| Related organizations | $0 |
| Government grants | $10,079,909 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,941,579 |
| Noncash contributions included in lines 1a–1f | $72,983 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,091,616 |
| Total Program Service Revenue | $15,234,522 |
| Investment income | $3,654,133 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,115,187 |
| Net Income from Fundraising Events | -$345,128 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $36,229 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,946,288 |
| 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. | $1,607,319 |
| Compensation of current officers, directors, key employees. | $977,363 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,368,413 |
| Pension plan accruals and contributions | $278,779 |
| Other employee benefits | $1,136,527 |
| Payroll taxes | $675,456 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,802 |
| Fees for services: Accounting | $66,185 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $30,525 |
| Fees for services: Investment Management | $362,185 |
| Fees for services: Other | $408,441 |
| Advertising and promotion | $1,549,531 |
| Office expenses | $334,101 |
| Information technology | $160,455 |
| Royalties | $0 |
| Occupancy | $1,743,752 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $959,939 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,996,721 |
| Insurance | $335,951 |
| All other expenses | $894,989 |
| Total functional expenses | $32,519,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,965 |
| Savings and temporary cash investments | $863,351 |
| Pledges and grants receivable | $16,075,839 |
| Accounts receivable, net | $25,526 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $34,491 |
| Prepaid expenses and deferred charges | $913,296 |
| Net Land, buildings, and equipment | $84,872,219 |
| Investments—publicly traded securities | $92,225,004 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $617,637 |
| Total assets | $195,673,328 |
| Accounts payable and accrued expenses | $918,580 |
| Grants payable | $0 |
| Deferred revenue | $6,672,312 |
| Tax-exempt bond liabilities | $56,270,000 |
| 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 | $63,860,892 |
| Net assets without donor restrictions | $86,211,431 |
| Net assets with donor restrictions | $45,601,005 |
| 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 | $195,673,328 |