Performing Arts Fort Worth Inc
- Assets
- $130.6m
- Revenue
- $15.9m
- Investments
- $0.0
- Employees
- 180
- Location
- Fort Worth, TX
- Founding
- 09/1993
- Data as of
- 06/2020
- EIN
- 75-2457270
Organization Overview
Performing Arts Fort Worth Inc is located in Fort Worth, TX. The organization was established in 1993. 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 06/2021, Performing Arts Fort Worth Inc employed 180 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Performing Arts Fort Worth 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 06/2020, Performing Arts Fort Worth Inc generated $15.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.0%) each year. All expenses for the organization totaled $18.7m during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE AS A PERMANENT HOME TO MAJOR PERFORMING ARTS ORGANIZATIONS OF FORT WORTH AND AS A PREMIER VENUE FOR TOURING ATTRACTIONS AND TO PROMULGATE ARTS EDUCATION. SEE SCH. O, GS 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTIONS AND PERFORMANCES - SEE SCHEDULE O GENERAL STATEMENT 1.
EDUCATIONAL ACTIVITIES - SEE SCHEDULE O GENERAL STATEMENT 1.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dione Kennedy President / CEO | Officer | 40 | $501,000 |
Kathy Dubose Vice President / CFO | Officer | 40 | $285,285 |
Jason Wise VP Of Programming And Engagement Management | 40 | $173,949 | |
Patricia H Schutts Board Vice Chair Emeritus | OfficerTrustee | 1 | $117,217 |
Christopher DE Leon Director Of It | 40 | $116,374 | |
Sue Buratto Director Of Education | 40 | $105,101 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Phantom Touring Llc Artist Fee | 6/29/20 | $1,141,920 |
Jumamosi Tour Lp Artist Fee | 6/29/20 | $834,389 |
Jb Second National Tour Lp Artist Fee | 6/29/20 | $541,991 |
Fiddler Touring Llc Artist Fee | 6/29/20 | $485,851 |
Lms Touring Llc Artist Fee | 6/29/20 | $707,400 |
Phantom Touring Llc Artist Fee | 6/29/20 | $1,141,920 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,053,738 |
| Investment income | $1,330,683 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $357,259 |
| Net Gain/Loss on Asset Sales | $827,343 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $85,027 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,938,262 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $15,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $950,671 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,435,466 |
| Pension plan accruals and contributions | $279,141 |
| Other employee benefits | $388,372 |
| Payroll taxes | $299,654 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $58,131 |
| Fees for services: Accounting | $55,947 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $308,444 |
| Fees for services: Other | $349,669 |
| Advertising and promotion | $1,037,169 |
| Office expenses | $207,667 |
| Information technology | $592,817 |
| Royalties | $0 |
| Occupancy | $369,801 |
| Travel | $61,970 |
| 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 | $2,889,805 |
| Insurance | $202,789 |
| All other expenses | $0 |
| Total functional expenses | $18,703,425 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,713,849 |
| Pledges and grants receivable | $208,875 |
| Accounts receivable, net | $60,160 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $332,212 |
| Prepaid expenses and deferred charges | $271,384 |
| Investments—publicly traded securities | $56,558,348 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,201,123 |
| Total assets | $130,618,856 |
| Accounts payable and accrued expenses | $954,142 |
| Grants payable | $0 |
| Deferred revenue | $11,238,849 |
| 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 | $911,710 |
| Total liabilities | $13,104,701 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $117,514,155 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Performing Arts Fort Worth Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Rosenthal Foundation Fort Worth, TX PURPOSE: GENERAL FUNDING | $5,000 |
Endowment Analysis
| Beg. Balance | $69,824,470 |
| Earnings | $17,704,071 |
| Net Contributions | $127,950 |
| Other Expense | $4,522,200 |
| Ending Balance | $83,134,291 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Performing Arts Fort Worth Inc Fort Worth, TX | $130,618,856 | $15,938,262 |
Dallas Summer Musicals Inc Dtd 121862 Dallas, TX | $10,391,803 | $15,176,693 |
Greater Austin Performing Arts Center Austin, TX | $60,832,333 | $4,600,967 |
Oklahoma Contemporary Arts Center Inc Oklahoma City, OK | $30,073,274 | $4,620,457 |
Stages Houston, TX | $35,203,862 | $5,949,704 |
Lubbock Entertainment And Performing Arts Association Lubbock, TX | $190,146,565 | $3,966,271 |
Tulsa Performing Arts Center Trust Tulsa, OK | $9,008,592 | $6,495,113 |
Contemporary Arts Center New Orleans, LA | $8,950,916 | $2,836,743 |
Preservation Hall Foundation Inc New Orleans, LA | $2,657,700 | $2,671,447 |
El Dorado Festivals & Events Inc El Dorado, AR | $56,070,172 | $5,007,919 |
Georgetown Palace Theatre Inc Georgetown, TX | $7,443,591 | $5,634,871 |
Sammons Center For The Arts Dallas, TX | $1,480,385 | $820,044 |