Overture Center Foundation Inc
- Assets
- $21.0m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 347
- Location
- Madison, WI
- Founding
- 06/2002
- Data as of
- 06/2021
- EIN
- 01-0645482
Organization Overview
Overture Center Foundation Inc is located in Madison, WI. The organization was established in 2002. 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 06/2021, Overture Center Foundation Inc employed 347 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Overture Center Foundation Inc 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, Overture Center Foundation Inc generated $8.2m 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 (15.3%) each year. All expenses for the organization totaled $4.8m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (21.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES THE OVERTURE CENTER FOR THE ARTS, A PERFORMING AND VISUAL ARTS CENTER. ITS MISSION IS TO ENRICH THE LIVES OF INDIVIDUALS AND (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
OVERTURE CENTER WAS CLOSED TO THE PUBLIC DURING THIS TAX YEAR DUE TO THE COVID-19 PANDEMIC. WHILE NO IN-PERSON PERFORMANCES WERE HELD, OVERTURE CENTER CONTINUED TO ENGAGE WITH ITS PATRONS AND THE COMMUNITY BY HOSTING NUMEROUS VIRTUAL PERFORMANCES AND EDUCATIONAL PROGRAMS. HOWEVER, GIVEN THE NATURE OF THE PANDEMIC AND THE PRIMARY USE OF OUR FACILITY TO HOST IN-PERSON EVENTS, THE OVERALL NUMBER OF PERFORMANCES HELD WAS GREATLY REDUCED. NORMALLY, OVERTURE CENTER HOSTS HUNDREDS OF TICKETED EVENTS WITH OUR BOX OFFICE SELLING APPROXIMATELY 300,000 TICKETS ANNUALLY. (CONTINUED ON SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Vogel Cfo/cbo | Officer | 40 | $133,274 |
Emily Gruenewald Vice President Of Development | 40 | $117,408 | |
Tracy Niesen-Breunig Human Resources Officer | 40 | $110,109 | |
Timothy Sauers Vice President Of Programming | 40 | $102,074 | |
Pablo Sanchez Chair | OfficerTrustee | 1 | $0 |
Julia Arata-Fratta Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Keybrand Entertainment Inc Producer | 6/29/21 | $371,416 |
Abhann Productions Ltd Producer | 6/29/21 | $172,270 |
Tcp Touring Llc Producer | 6/29/21 | $523,241 |
Jh Findorff Son Inc Building Repairs | 6/29/21 | $321,896 |
Facility Services Group Building Repairs | 6/29/21 | $174,596 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,376,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,369,569 |
| Noncash contributions included in lines 1a–1f | $19,270 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,746,069 |
| Total Program Service Revenue | $357,535 |
| Investment income | $44,844 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $67,426 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,215,874 |
| 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. | $135,276 |
| Compensation of current officers, directors, key employees. | $36,012 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,255,745 |
| Pension plan accruals and contributions | $75,273 |
| Other employee benefits | $513,508 |
| Payroll taxes | -$436,464 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,512 |
| Fees for services: Accounting | $20,167 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,359 |
| Fees for services: Other | $623,635 |
| Advertising and promotion | $14,342 |
| Office expenses | $147,438 |
| Information technology | $296,920 |
| Royalties | $0 |
| Occupancy | $472,324 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,338 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $492,322 |
| Insurance | $149,523 |
| All other expenses | $0 |
| Total functional expenses | $4,845,543 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,692,963 |
| Savings and temporary cash investments | $1,202,633 |
| Pledges and grants receivable | $264,800 |
| Accounts receivable, net | $486,610 |
| 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 | $241,942 |
| Net Land, buildings, and equipment | $3,897,954 |
| Investments—publicly traded securities | $1,989,552 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,222,267 |
| Total assets | $20,998,721 |
| Accounts payable and accrued expenses | $998,592 |
| Grants payable | $0 |
| Deferred revenue | $7,537,349 |
| 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 | $696,005 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,231,946 |
| Net assets without donor restrictions | $7,695,140 |
| Net assets with donor restrictions | $4,071,635 |
| 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 | $20,998,721 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Overture Center Foundation Inc has recieved totaling $527,288.
| Awarding Organization | Amount |
|---|---|
American Endowment Foundation Hudson, OH PURPOSE: ARTS, CULTURE | $128,800 |
Madison Community Foundation Madison, WI PURPOSE: TO SUPPORT PERFORMANCES AND EVENTS AT THE OVERTURE CENTER | $105,382 |
Madison Community Foundation Madison, WI PURPOSE: JERRY AWARDS, KIDS IN THE ROUNDA, ONSTAGE STUDENT FIELD TRIPS | $58,388 |
Madison Community Foundation Madison, WI PURPOSE: GENERAL CHARITABLE PURPOSES | $57,193 |
Madison Community Foundation Madison, WI PURPOSE: OVATION FUND | $50,000 |
Madison Community Foundation Madison, WI PURPOSE: OVERTURE CENTER FOR THE ARTS | $50,000 |
Endowment Analysis
| Beg. Balance | $2,566,095 |
| Earnings | $672,903 |
| Admin Expense | $31,843 |
| Net Contributions | $115,000 |
| Other Expense | $58,388 |
| Ending Balance | $3,263,767 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wisconsin Public Broadcasting Foundation Inc Madison, WI | $32,720,675 | $11,782,247 |
Wisconsin History Foundation Inc Madison, WI | $57,186,900 | $14,378,166 |
Oakleaf Endowment Tr Fbo Minnesota Orchestra 063097 Minneapolis, MN | $81,273,856 | $10,271,429 |
Overture Center Foundation Inc Madison, WI | $20,998,721 | $8,215,874 |
Air Zoo Legacy Foundation Portage, MI | $89,399,860 | $9,308,646 |
Overture Development Corporation Madison, WI | $128,656,351 | $0 |
Des Moines Metro Opera Foundation Inc Indianola, IA | $21,471,212 | $2,429,329 |
Mariners Museum Tr No 2 P03152009 Chicago, IL | $40,886,491 | $1,565,814 |
Michigans Thanksgiving Parade Detroit, MI | $9,957,925 | $2,964,645 |
John R Vanderlip Trust Uw 5006 Nect Milwaukee, WI | $35,603,983 | $4,156,554 |
Mariners Museum Tr No 1 P03583005 Chicago, IL | $28,659,817 | $2,644,762 |
Block 100 Foundation Inc Middleton, WI | $18,901,451 | $2,662,277 |