Jefferson Center Foundation Ltd
- Assets
- $24.1m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 67
- Location
- Roanoke, VA
- Founding
- 08/1989
- Data as of
- 06/2022
- EIN
- 62-1392982
Organization Overview
Jefferson Center Foundation Ltd is located in Roanoke, VA. The organization was established in 1989. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Jefferson Center Foundation Ltd employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jefferson Center Foundation Ltd 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, Jefferson Center Foundation Ltd generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $2.6m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.3%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION WAS ORGANIZED TO MANAGE THE RENOVATION AND SUBSEQUENT RENTAL AND MAINTENANCE OF THE JEFFERSON HIGH SCHOOL. THE PROPERTY BELONGS TO THE CITY OF ROANOKE AND THE FOUNDATION'S EXEMPT PURPOSE IS TO RAISE PUBLIC FUNDING FOR RENOVATION OF THE BUILDING SUCH THAT IT CAN BE USED TO PROVIDE AFFORDABLE OFFICE SPACE FOR OTHER NON-PROFIT/CITY AGENCIES SERVING THE PUBLIC, AS WELL AS BECOMING A CULTURAL CENTER FOR THE ARTS AND A COMMUNITY CENTER FOR OTHER ORGANIZATIONS TO MEET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S SHAFTMAN PERFORMANCE HALL SERVES AS A PERMANENT PERFORMANCE VENUE FOR PRESENTING HIGH QUALITY LIVE MUSIC PERFORMANCES AND MUSIC EDUCATION PROGRAMMING.
THE FOUNDATION SERVES AS LANDLORD TO MULTIPLE AREA NON-PROFIT ORGANIZATIONS.
THE FOUNDATION OVERSEES THE SHORT-TERM RENTALS OF VENUES WITHIN THE FACILITY TO OUTSIDE INDIVIDUALS AND ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cyrus E Pace Executive Direc | OfficerTrustee | 40 | $118,750 |
Samuel Worthington Board Member | Trustee | 2 | $0 |
Waid Powell Board Member | Trustee | 2 | $0 |
Marc Nelson Board Member | Trustee | 2 | $0 |
Adrian Wilson Board Member | Trustee | 2 | $0 |
Sharon Burnham Secretary | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $727,697 |
| All other contributions, gifts, grants, and similar amounts not included above | $474,282 |
| Noncash contributions included in lines 1a–1f | $8,027 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,201,979 |
| Total Program Service Revenue | $1,106,240 |
| Investment income | $16,830 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $99,414 |
| Net Income from Fundraising Events | -$815 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,456,793 |
| 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. | $118,750 |
| Compensation of current officers, directors, key employees. | $11,874 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $762,220 |
| Pension plan accruals and contributions | $18,131 |
| Other employee benefits | $9,766 |
| Payroll taxes | $68,089 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,472 |
| Fees for services: Other | $80,458 |
| Advertising and promotion | $37,818 |
| Office expenses | $18,772 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,030 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $569,546 |
| Insurance | $36,989 |
| All other expenses | $139,669 |
| Total functional expenses | $2,567,584 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,244,816 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $31,984 |
| Accounts receivable, net | $35,432 |
| 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 | $0 |
| Net Land, buildings, and equipment | $7,011,523 |
| Investments—publicly traded securities | $1,153,266 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,602,572 |
| Total assets | $24,079,593 |
| Accounts payable and accrued expenses | $69,789 |
| Grants payable | $0 |
| Deferred revenue | $314,786 |
| 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 | $57,912 |
| Total liabilities | $442,487 |
| Net assets without donor restrictions | $8,248,693 |
| Net assets with donor restrictions | $15,388,413 |
| 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 | $24,079,593 |