Foundation For The Performing Arts Center
- Assets
- $8.0m
- Revenue
- $900.3k
- Investments
- $0.0
- Employees
- 4
- Location
- San Luis Obispo, CA
- Founding
- 03/1987
- Data as of
- 06/2022
- EIN
- 77-0129605
Organization Overview
Foundation For The Performing Arts Center is located in San Luis Obispo, CA. The organization was established in 1987. 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, Foundation For The Performing Arts Center employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For The Performing Arts Center 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, Foundation For The Performing Arts Center generated $900.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. 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
TO PROVIDE AND PROMOTE AN EXTRAORDINARY AND ACCESSIBLE CENTER FOR THE PERFORMING ARTS THAT ELEVATES THE ARTS IN OUR COMMUNITY. TOGETHER FOUNDATION MEMBERS, WITH OUR PARTNERS, THE CITY OF SAN LUIS OBISPO AND CAL POLY, PROVIDE MORE THAN HALF OF THE CENTER'S $3.1 MILLION BUDGET. THESE CONTRIBUTIONS KEEP THE HALL ACCESSIBLE AND AFFORDABLE AND:1) BRING 9,000 CHILDREN TO SCHOOL ADMISSION-FREE SCHOOL MATINEES;2) PROVIDE LOCAL ARTS GROUPS WITH A 75% DISCOUNT ON CENTER RENTAL RATES;3) GIVE THE OPPORTUNITY TO 6,000 YOUNG ARTISTS WHO HAD A CHANCE TO PERFORM ON A WORLD-CLASS STAGE; AND 4) KEEP THE CENTER LIKE-NEW AND STATE-OF-THE-ART
Describe the Organization's Program Activity:
Part 3 - Line 4a
AMOUNTS PAID ON BEHALF OF SAN LUIS OBISPO PERFORMING ARTS CENTER FOR PROGRAM EXPENSES, CENTER OPERATION EXPENSES, INTEREST EXPENSE, FURNISHINGS AND EQUIPMENT PURCHASES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joey Leslie President | OfficerTrustee | 4 | $0 |
Maryellen Simkins Secretary | OfficerTrustee | 4 | $0 |
Trudie Safreno Vice President | OfficerTrustee | 4 | $0 |
Morgen Houlis Treasurer | OfficerTrustee | 4 | $0 |
Geri Lachance Director | Trustee | 1 | $0 |
Bob Kitamura Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $44,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $674,439 |
| Noncash contributions included in lines 1a–1f | $50,859 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $718,539 |
| Total Program Service Revenue | $0 |
| Investment income | $181,733 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $900,272 |
| 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 | $173,218 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,062 |
| Payroll taxes | $15,062 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $200 |
| Fees for services: Accounting | $24,690 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,192 |
| Fees for services: Other | $69,409 |
| Advertising and promotion | $74,362 |
| Office expenses | $4,646 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,280 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $3,355 |
| Conferences, conventions, and meetings | $14,910 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,804 |
| Insurance | $2,687 |
| All other expenses | $24,357 |
| Total functional expenses | $1,148,185 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $354,518 |
| Savings and temporary cash investments | $773,898 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,250 |
| 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 | $16,188 |
| Net Land, buildings, and equipment | $83,107 |
| Investments—publicly traded securities | $6,668,539 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $125,522 |
| Total assets | $8,046,022 |
| Accounts payable and accrued expenses | $3,336 |
| Grants payable | $0 |
| Deferred revenue | $7,500 |
| 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 | $10,836 |
| Net assets without donor restrictions | $591,452 |
| Net assets with donor restrictions | $7,443,734 |
| 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 | $8,046,022 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Foundation For The Performing Arts Center has recieved totaling $122,410.
| Awarding Organization | Amount |
|---|---|
Community Foundation San Luis Obispo County San Luis Obispo, CA PURPOSE: UNRESTRICTED,TO SUPPORT THE LIVE RECORDING CAPABILITY PROJECT OF THE PAC,PERFORMING ARTS CENTER SCHOOL MATINEE PROGRAM | $45,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $41,431 |
Richard J Weyhrich Charitable Tr San Luis Obispo, CA PURPOSE: TO HELP PROVIDE AND PROMOTE AN EXTRAORDINARY AND ACCESSIBLE CENTER FOR THE PERFORMING ARTS | $14,717 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $8,250 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $5,000 |
Niner Foundation Inc Jackson, WY PURPOSE: SUPPORT OF ORGANIZATION | $5,000 |
Endowment Analysis
| Beg. Balance | $6,909,860 |
| Earnings | $1,111,116 |
| Net Contributions | $500,000 |
| Ending Balance | $8,520,976 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Friends Of The Cultural Center Inc Palm Desert, CA | $48,047,897 | $20,407,526 |
The Smith Center For The Performing Arts Las Vegas, NV | $427,449,516 | $12,755,870 |
Luther Burbank Memorial Foundation Santa Rosa, CA | $31,726,314 | $16,161,291 |
Intersection For The Arts San Francisco, CA | $6,218,196 | $5,728,383 |
Santa Barbara Center For The Performing Arts Inc Santa Barbara, CA | $116,344,118 | $4,620,233 |
Lobero Theatre Foundation Santa Barbara, CA | $11,390,447 | $5,213,777 |
Paramount Theatre Of The Arts Inc Oakland, CA | $15,083,800 | $5,039,030 |
Irvine Barclay Theatre Operating Co Irvine, CA | $4,871,316 | $3,311,778 |
Mainly Mozart Inc San Diego, CA | $792,070 | $2,395,556 |
Gallo Center For The Arts Inc Modesto, CA | $40,396,474 | $2,412,473 |
San Francisco Performances Inc San Francisco, CA | $8,111,017 | $1,717,487 |
Community Arts Music Assn Of Santa Barbara Santa Barbara, CA | $8,681,324 | $1,742,239 |