Foundation For The Mcknight Center For The Performing Arts
- Assets
- $53.4m
- Revenue
- $3.6m
- Investments
- $49.4m
- Employees
- 99
- Location
- Stillwater, OK
- Founding
- 08/2016
- Data as of
- 06/2022
- EIN
- 81-2608656
Organization Overview
Foundation For The Mcknight Center For The Performing Arts is located in Stillwater, OK. The organization was established in 2016. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Foundation For The Mcknight Center For The Performing Arts employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For The Mcknight 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 06/2022, Foundation For The Mcknight Center For The Performing Arts generated $3.6m 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 (30.7%) each year. All expenses for the organization totaled $4.2m 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
PROVIDE SUPPORT AND ASSISTANCE TO OKLAHOMA STATE UNIVERSITY IN CONNECTION WITH THE PERFORMING ARTS BY PROVIDING FUNDING OF THE PERFORMING ARTS, LONG-TERM MANAGEMENT, AND OPERATIONS OF THE MCKNIGHT CENTER FOR THE PERFORMING ARTS AT OKLAHOMA STATE UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS FISCAL CYCLE THE MCKNIGHT CENTER COMPLETED ITS FIRST FULL SEASON OF PROGRAM OFFERINGS, WITHOUT INTERRUPTION FROM THE PANDEMIC, SINCE OPENING IN 2019. A DIVERSE SET OF CONCERT PROGRAMS WERE OFFERED TO A WELCOMING COMMUNITY AS WELL AS A MULTITUDE OF EDUCATION AND COMMUNITY ENGAGEMENT ACTIVITIES. TICKET SALES AND EARNED REVENUE WAS STRONG. CONTRIBUTIONS BEGAN SLOWLY AS DONORS GAINED CONFIDENCE IN ATTENDING POST-PANDEMIC AND GREW AS THE SEASON PROGRESSED. A TOTAL OF 147 CONCERTS WERE PRESENTED, 89 CAMPUS AND PRIVATE EVENTS OCCURRED, AND 50 EDUCATION AND COMMUNITY ENGAGEMENT EVENTS TOOK PLACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Blakeman Executive Dir. | Officer | 40 | $303,559 |
Billie Mcknight Trustee | Trustee | 1 | $0 |
Kayse Shrum Trustee | Trustee | 1 | $0 |
Joe D Hall Trustee | Trustee | 1 | $0 |
Ross Mcknight Chairman | OfficerTrustee | 1 | $0 |
Carl Thoma Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,169,990 |
| Noncash contributions included in lines 1a–1f | $548 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,169,990 |
| Total Program Service Revenue | $1,477,639 |
| Investment income | $83 |
| 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 | $3,647,712 |
| 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. | $327,627 |
| Compensation of current officers, directors, key employees. | $81,907 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $649,014 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $91,953 |
| Payroll taxes | $73,194 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,414 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $134,576 |
| Fees for services: Other | $2,031,688 |
| Advertising and promotion | $103,515 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,595 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,046 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,157 |
| Insurance | $0 |
| All other expenses | $97,098 |
| Total functional expenses | $4,214,340 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,573,086 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $954,260 |
| 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 | $64,487 |
| Net Land, buildings, and equipment | $123,458 |
| Investments—publicly traded securities | $233,332 |
| Investments—other securities | $49,432,724 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $53,381,347 |
| Accounts payable and accrued expenses | $133,865 |
| Grants payable | $0 |
| Deferred revenue | $554,026 |
| 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 | $687,891 |
| Net assets without donor restrictions | $598,579 |
| Net assets with donor restrictions | $52,094,877 |
| 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 | $53,381,347 |