The Hobby Center Foundation
- Assets
- $77.7m
- Revenue
- $35.1m
- Investments
- $0.0
- Employees
- 86
- Location
- Houston, TX
- Founding
- 08/1994
- Data as of
- 08/2022
- EIN
- 76-0428914
Organization Overview
The Hobby Center Foundation, operating under the name The Hobby Center for the Performing Arts, is located in Houston, TX. The organization was established in 1994. 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 08/2022, Hobby Center for the Performing Arts employed 86 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hobby Center for the Performing Arts 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 08/2022, Hobby Center for the Performing Arts generated $35.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $31.7m during the year ending 08/2022. While expenses have increased by 20.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION PRESENTS PERFORMING ARTS AND EDUCATIONAL PROGRAMS AT THE HOBBY CENTER FOR THE PERFORMING ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOBBY CENTER FOUNDATION DEVELOPS, MANAGES, AND MAINTAINS THE HOBBY CENTER FOR THE PERFORMING ARTS FOR THE BENEFIT OF THE CITY OF HOUSTON. THE HOBBY CENTER SERVES THE COMMUNITY BY PROVIDING PREMIER VENUES FOR RESIDENT COMPANIES AND OTHER PROFESSIONAL AND COMMUNITY ATTRACTIONS; BROADENING THE RANGE, QUALITY, AND ACCESSIBILITY OF CULTURAL FARE AVAILABLE TO THE PUBLIC; ENCOURAGING ARTS EDUCATION AND OUTREACH PROGRAMS AND CONTRIBUTING TO THE CULTURAL QUALITY OF LIFE IN HOUSTON, HARRIS COUNTY AND THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fran Macferran President (to Dec 2021) | OfficerTrustee | 35 | $0 |
Mark Folkes President & CEO (fr Aug 2022) | OfficerTrustee | 35 | $0 |
Stephen Ash Chair (to Dec 2021) | OfficerTrustee | 2 | $0 |
Rob Doty Chair (fr Jan 2022) | OfficerTrustee | 2 | $0 |
Kimberly Cutchall Secretary/treasurer | OfficerTrustee | 1 | $0 |
Steven Burkett Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The John Gore Organization Production Services | 8/30/22 | $2,413,405 |
Drg Associates Gp Llc Management | 8/30/22 | $1,088,584 |
Wenger Corporation Theatrical Equipment Installation | 8/30/22 | $915,189 |
Service Master Cleaning Pro's Cleaning | 8/30/22 | $307,143 |
Horizon Pavers Llc Paving Contractors | 8/30/22 | $275,932 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,359,566 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,234,586 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,594,152 |
| Total Program Service Revenue | $30,193,093 |
| Investment income | $216,554 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $135,283 |
| Net Gain/Loss on Asset Sales | -$6,353 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,132,729 |
| 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. | $267,620 |
| Compensation of current officers, directors, key employees. | $260,081 |
| Compensation to disqualified persons | $632,137 |
| Other salaries and wages | $2,732,938 |
| Pension plan accruals and contributions | $129,005 |
| Other employee benefits | $229,995 |
| Payroll taxes | $238,757 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $75,690 |
| Fees for services: Accounting | $49,760 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,377 |
| Fees for services: Other | $1,769,047 |
| Advertising and promotion | $1,432,623 |
| Office expenses | $375,783 |
| Information technology | $115,234 |
| Royalties | $0 |
| Occupancy | $950,118 |
| Travel | $72,128 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,750 |
| Interest | $154,646 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,449,460 |
| Insurance | $700,884 |
| All other expenses | $254,739 |
| Total functional expenses | $31,738,897 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,564 |
| Savings and temporary cash investments | $2,683,374 |
| Pledges and grants receivable | $3,598,666 |
| Accounts receivable, net | $390,427 |
| 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 | $607,012 |
| Net Land, buildings, and equipment | $57,142,295 |
| Investments—publicly traded securities | $13,282,589 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $77,710,927 |
| Accounts payable and accrued expenses | $1,330,646 |
| Grants payable | $0 |
| Deferred revenue | $1,562,884 |
| Tax-exempt bond liabilities | $5,077,800 |
| 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 | $3,112,550 |
| Total liabilities | $11,083,880 |
| Net assets without donor restrictions | $66,595,047 |
| Net assets with donor restrictions | $32,000 |
| 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 | $77,710,927 |