The Smith Center For The Performing Arts
- Assets
- $427.4m
- Revenue
- $12.8m
- Investments
- $17.5m
- Employees
- 248
- Location
- Las Vegas, NV
- Founding
- 02/1999
- Data as of
- 06/2021
- EIN
- 88-0361875
Organization Overview
The Smith Center For The Performing Arts is located in Las Vegas, NV. The organization was established in 1999. 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, Smith Center For The Performing Arts employed 248 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Smith 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 06/2021, Smith Center For The Performing Arts generated $12.8m 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 (11.3%) each year. All expenses for the organization totaled $14.5m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (13.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Smith Center For The Performing Arts has awarded 137 individual grants totaling $141,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE ARTISTS, AUDIENCES, AND OUR DIVERSE COMMUNITY THROUGH GREAT PERFORMANCES, ENRICHING EXPERIENCES, AND ENGAGING EDUCATIONAL PROGRAMMING.
Describe the Organization's Program Activity:
DESIGNED TO EDUCATE, ENRICH AND INSPIRE THE LIVES OF THE LAS VEGAS VALLEY COMMUNITY BY PRESENTING WORLD CLASS PERFORMING ARTS. THE SMITH CENTER OFFERS A BLEND OF PERFORMANCES BY LOCAL ARTS GROUPS AS WELL AS FIRST RUN TOURING ATTRACTIONS. THE FEATURED MUSIC, THEATER AND DANCE COMPANIES CELEBRATE CULTURES FROM ALL OVER THE WORLD ALONG WITH LOCAL RESIDENT COMPANIES, THE LAS VEGAS PHILHARMONIC AND NEVADA BALLET THEATER. THE SMITH CENTER BEGAN OPERATIONS IN MARCH 2012 AND HAS ENRICHED THE LIVES OF AN ESTIMATE OF 2,345,000 PATRONS.
IN COLLABORATION WITH THE KENNEDY CENTER PARTNERS IN EDUCATION PROGRAM AND WOLF TRAP INSTITUTE FOR EARLY LEARNING THROUGH THE ARTS, WORKSHOPS, ARTIST RESIDENCIES AND DEMONSTRATION, TEACHING SESSIONS WERE CONDUCTED THROUGHOUT THE YEAR TO EDUCATE THE LAS VEGAS VALLEY COMMUNITY'S YOUTH THROUGH THE PERFORMING ARTS. NATIONAL AND INTERNATIONAL TOURING THEATER PRODUCTIONS BASED ON CHILDREN'S LITERATURE WERE PRESENTED FOR YOUNG AUDIENCES. PROGRAMMING FOCUSED ON PROVIDING A VARIETY OF PERFORMING ARTS EXPERIENCES FOR NEARLY 785,000 STUDENTS AND EDUCATORS IN PRE-K THROUGH GRADE 12 WITHIN CLARK COUNTY. PROGRAMMING WAS CONDUCTED ONSITE AND IN THE VENUES THROUGHOUT THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Myron G Martin President/ceo | Officer | 40 | $445,101 |
John Burnett Vice President/cfo | Officer | 40 | $252,531 |
Glenn Medas Vice President/coo | Officer | 40 | $237,804 |
Suzanne Chabre Vice President/cxo | Officer | 40 | $229,441 |
Candy Schneider VP Of Education/outreach | 40 | $173,970 | |
Daniel Neel VP Of Development | 40 | $160,408 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ooti Touring Llc Artist Payment | 6/29/21 | $324,263 |
Sbsp Touring Llc Artist Payment | 6/29/21 | $534,218 |
Escape On Tour Llc Artist Payment | 6/29/21 | $588,069 |
Nevada Falun Dafa Association Artist Payment | 6/29/21 | $273,775 |
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 | $7,982,754 |
| Noncash contributions included in lines 1a–1f | $294,114 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,982,754 |
| Total Program Service Revenue | $218,247 |
| Investment income | $626,678 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $204,127 |
| Net Gain/Loss on Asset Sales | $3,724,064 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,755,870 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,000 |
| Grants and other assistance to domestic individuals. | $95,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,522,174 |
| Compensation of current officers, directors, key employees. | $1,077,384 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,994,456 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $839,386 |
| Payroll taxes | $366,554 |
| Fees for services: Management | $125,294 |
| Fees for services: Legal | $38,321 |
| Fees for services: Accounting | $138,783 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $208,258 |
| Office expenses | $163,070 |
| Information technology | $7,508 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $20,688 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,134,586 |
| Insurance | $265,267 |
| All other expenses | $243,774 |
| Total functional expenses | $14,513,421 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,228,144 |
| Savings and temporary cash investments | $2,210,366 |
| Pledges and grants receivable | $2,519,912 |
| Accounts receivable, net | $168,791 |
| 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 | $309,155 |
| Net Land, buildings, and equipment | $310,644,076 |
| Investments—publicly traded securities | $77,556,516 |
| Investments—other securities | $17,498,017 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,314,539 |
| Total assets | $427,449,516 |
| Accounts payable and accrued expenses | $1,583,094 |
| Grants payable | $0 |
| Deferred revenue | $10,379,713 |
| 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 | $30,608,048 |
| Total liabilities | $42,570,855 |
| Net assets without donor restrictions | $93,903,864 |
| Net assets with donor restrictions | $290,974,797 |
| 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 | $427,449,516 |
Grants Awarded
Over the last fiscal year, The Smith Center For The Performing Arts has awarded $19,000 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
LAS VEGAS ACADEMY OF THE ARTS PURPOSE: ASSIST SCHOOL | $2,000 |
MYRTLE TATE ELEMENTARY SCHOOL PURPOSE: ASSIST SCHOOL | $1,000 |
MARION B EARL ELEMENTARY SCHOOL PURPOSE: ASSIST SCHOOL | $1,000 |
LORNA J KESTERSON ELEMENTARY SCHOOL PURPOSE: ASSIST SCHOOL | $1,000 |
DORTHY EISENBERG ELEMENTARY SCHOOL PURPOSE: ASSIST SCHOOL | $1,000 |
DESERT PINES HIGH SCHOOL PURPOSE: ASSIST SCHOOL | $1,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Smith Center For The Performing Arts has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Kasner Family Foundation Henderson, NV PURPOSE: GENERAL FUND | $10,000 |
Endowment Analysis
| Beg. Balance | $72,568,100 |
| Earnings | $21,187,743 |
| Admin Expense | $51,310 |
| Net Contributions | $5,451,037 |
| Other Expense | $4,101,037 |
| Ending Balance | $95,054,533 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Performing Arts Center Of Los Angeles County Los Angeles, CA | $146,527,407 | $76,131,684 |
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 |
Sun Valley Summer Symphony Inc Sun Valley, ID | $21,678,504 | $4,964,216 |
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 |
Sun Valley Center For The Arts Inc Sun Valley, ID | $8,382,045 | $3,240,614 |
Mainly Mozart Inc San Diego, CA | $792,070 | $2,395,556 |