Maxwell C King Center For The Performing Arts Inc
- Assets
- $10.4m
- Revenue
- $7.2m
- Investments
- $0.0
- Employees
- 206
- Location
- Cocoa, FL
- Founding
- 03/1988
- Data as of
- 06/2023
- EIN
- 59-2844281
Organization Overview
Maxwell C King Center For The Performing Arts Inc is located in Cocoa, FL. The organization was established in 1988. 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 06/2023, Maxwell C King Center For The Performing Arts Inc employed 206 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maxwell C King 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 06/2023, Maxwell C King Center For The Performing Arts Inc generated $7.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $7.5m during the year ending 06/2023. While expenses have increased by 4.5% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE KING CENTER PROVIDED CULTURAL ENRICHMENT FOR BREVARD COUNTY RESIDENTS BY SPONSORING THEATRICAL PERFORMANCES AS WELL AS MAKING THE FACILITY AVAILABLE TO LOCAL PERFORMING ART GROUPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE THEATRE FOR YOUTH OUTREACH (TFYO) OFFERED 6 PROGRAMS DURING FISCAL YEAR 2022-2023. THE TFYO CONTINUES TO NURTURE THE RELATIONSHIP WITH BREVARD COUNTY PUBLIC SCHOOL SYSTEM BY OFFERING AFFORDABLE AND COMPLIMENTARY TICKETS TO UNDER PRIVILEGED SCHOOL AGED CHILDREN AND PROFESSIONAL DEVELOPMENT WORKSHOPS FOR LOCAL EDUCATORS.
DURING FISCAL YEAR 2022-2023, THE CENTER PURCHASED NEW MAIN STAGE LIGHTS, PHASE MODULE AND FOG MACHINE TO UPGRADE THE PATRON'S SHOW EXPERIENCE. THEY ALSO REPLACED THE STRUCTURAL STEEL SUPPORT SYSTEM FOR THE SPEAKERS ABOVE THE MAIN STAGE.
THE CENTER'S 2022-2023 SEASON OFFERED 110 MAIN STAGE EVENTS. THIS WAS 17 MORE SHOWS FROM THE PREVIOUS YEAR. THE CENTER ALSO PRESENTED A FREE CONCERT PRESENTED BY THE BREVARD SYMPHONY ORCHESTRA TO ENGAGE THE COMMUNITY IN THE CULTURAL ARTS PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony J Catanese Chair | OfficerTrustee | 5 | $0 |
Tom Molnar Vice-Chair | OfficerTrustee | 5 | $0 |
Steven Wm Bierbrunner Treasurer/secretary | OfficerTrustee | 5 | $0 |
James H Richey JD President Of Efsc | OfficerTrustee | 5 | $0 |
Carol Craig Member | Trustee | 3 | $0 |
Darcia Jones Francey Member | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Asm Global Melbourne Llc Mgmt / Consulting / Operations | 6/29/23 | $428,311 |
A B Enterprises Llc Project Management | 6/29/23 | $114,671 |
Brph Architects Engineers Inc Architectural | 6/29/23 | $153,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $44,865 |
| All other contributions, gifts, grants, and similar amounts not included above | $287,210 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $332,075 |
| Total Program Service Revenue | $6,501,208 |
| Investment income | $250,967 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $201,588 |
| Net Gain/Loss on Asset Sales | -$141,300 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $23,441 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,169,300 |
| 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 | $1,600,751 |
| Pension plan accruals and contributions | $33,979 |
| Other employee benefits | $200,405 |
| Payroll taxes | $127,178 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,841 |
| Fees for services: Other | $1,096,707 |
| Advertising and promotion | $251,599 |
| Office expenses | $209,204 |
| Information technology | $2,628 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $20,823 |
| 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 | $0 |
| Insurance | $94,489 |
| All other expenses | $7,391 |
| Total functional expenses | $7,464,388 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,042,516 |
| Savings and temporary cash investments | $1,830,903 |
| Pledges and grants receivable | $19,865 |
| Accounts receivable, net | $186,041 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $32,954 |
| Prepaid expenses and deferred charges | $41,559 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,242,678 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,437 |
| Total assets | $10,420,953 |
| Accounts payable and accrued expenses | $325,792 |
| Grants payable | $0 |
| Deferred revenue | $1,664,771 |
| 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 | $1,990,563 |
| Net assets without donor restrictions | $7,230,390 |
| Net assets with donor restrictions | $1,200,000 |
| 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 | $10,420,953 |