Multipurpose Arena Fort Worth
- Assets
- $129.0m
- Revenue
- $79.8m
- Investments
- $15.9m
- Employees
- 1,535
- Location
- Fort Worth, TX
- Founding
- 10/2016
- Data as of
- 10/2023
- EIN
- 81-2774292
Organization Overview
Multipurpose Arena Fort Worth is located in Fort Worth, TX. The organization was established in 2016. According to its NTEE Classification (N19) the organization is classified as: Support N.E.C., under the broad grouping of Recreation & Sports and related organizations. As of 10/2023, Multipurpose Arena Fort Worth employed 1,535 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Multipurpose Arena Fort Worth is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
MULTIPURPOSE ARENA FORT WORTH IS OPERATED TO LESSEN THE BURDENS OF THE CITY OF FORT WORTH, TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MULTIPURPOSE ARENA FORT WORTH IS ORGANIZED AND OPERATED FOR THE PURPOSES OF LESSENING THE BURDENS OF THE CITY OF FORT WORTH, TEXAS, AND ENCOURAGING AGRICULTURAL PURSUITS. SPECIFICALLY, THE CORPORATION LEASES, MANAGES AND OPERATES THE CITY OWNED MULTIPURPOSE ARENA THAT OPENED IN OCTOBER 2019 ADJACENT TO THE WILL ROGERS MEMORIAL CENTER OF FORT WORTH, AND DO SO WITHOUT UNDUE FINANCIAL COSTS OR RISKS TO THE CITY AND ITS RESIDENTS. IN ADDITION, THE CORPORATION MAY ALSO MANAGE, OPERATE, AND/OR OTHERWISE SUPPORT THE OPERATION OF OTHER FACILITIES ADJACENT TO THE MULTIPURPOSE ARENA, INCLUDING GARAGE AND SURFACE PARKING FACILITIES AND WILL ROGERS MEMORIAL CENTER FACILITIES, AS WELL AS OTHER FACILITIES OWNED BY EVENT FACILITIES FORT WORTH, INC., A 501(C)(3) ORGANIZATION, AND BY THE CITY OF FORT WORTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward P Bass Chairman | Trustee | 4 | $0 |
Lillie Biggins Director | Trustee | 0.5 | $0 |
Francisco Hernandez Director | Trustee | 0.5 | $0 |
Dee J Kelly Jr Director | Trustee | 0.5 | $0 |
William Meadows Director | Trustee | 0.5 | $0 |
Leonard Firestone Director (partial Year) | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Instawork Staffing And Parking | 10/30/23 | $2,843,937 |
Rhino Texas Llc Stage Hands | 10/30/23 | $1,970,772 |
Extreme Staffing Solutions Llc Staffing | 10/30/23 | $1,140,906 |
Ahi Facility Services Inc Post Event Cleaning | 10/30/23 | $1,096,995 |
On Point Personnel Llc Staffing | 10/30/23 | $1,066,351 |
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 | $1,913,741 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,913,741 |
| Total Program Service Revenue | $77,308,873 |
| Investment income | $619,567 |
| 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 | $79,842,181 |
| 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. | $1,399,632 |
| Compensation of current officers, directors, key employees. | $349,908 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,282,335 |
| Pension plan accruals and contributions | $190,581 |
| Other employee benefits | $769,649 |
| Payroll taxes | $565,055 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,843 |
| Fees for services: Accounting | $90,664 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $73,406 |
| Office expenses | $4,133,323 |
| Information technology | $331,823 |
| Royalties | $0 |
| Occupancy | $3,301,148 |
| Travel | $69,004 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $62,771 |
| Interest | $1,724,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,456,641 |
| Insurance | $870,084 |
| All other expenses | $0 |
| Total functional expenses | $68,793,194 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,600,966 |
| Savings and temporary cash investments | $42,807,258 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,198,375 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $264,872 |
| Prepaid expenses and deferred charges | $6,696,705 |
| Net Land, buildings, and equipment | $32,444,929 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $15,909,430 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,689 |
| Total assets | $128,978,224 |
| Accounts payable and accrued expenses | $11,473,499 |
| Grants payable | $0 |
| Deferred revenue | $60,090,872 |
| 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 | $60,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $131,564,371 |
| Net assets without donor restrictions | -$2,586,147 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $128,978,224 |