Saratoga Springs Performing Arts Center Inc
- Assets
- $15.9m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 442
- Location
- Saratoga Springs, NY
- Founding
- 12/1963
- Data as of
- 12/2019
- EIN
- 14-1466353
Organization Overview
Saratoga Springs Performing Arts Center Inc is located in Saratoga Springs, NY. The organization was established in 1963. 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 12/2019, Saratoga Springs Performing Arts Center Inc employed 442 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Saratoga Springs Performing Arts Center Inc generated $11.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $9.4m during the year ending 12/2019. While expenses have increased by 1.5% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESENT VIBRANT AND DIVERSE ARTISTIC PERFORMANCES THAT ENGAGE AND ENRICH THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRESENTATION OF THE PERFORMING ARTS IN ORDER TO SPONSOR, CULTIVATE AND DEVELOP AN UNDERSTANDING AND APPRECIATION OF SUCH ART BY THE CENTER'S MEMBERS AND THE COMMUNITY. WE PRESENT 70-80 EVENTS THROUGHOUT OUR SEASON, REACHING OVER 350,000 PEOPLE EACH YEAR IN THE AREAS OF DANCE, ORCHESTRA, OPERA, CHAMBER MUSIC, JAZZ, AND ROCK AND ROLL. OUR FACILITY IS THE SUMMER HOME TO THE PHILADELPHIA ORCHESTRA, THE NEW YORK CITY BALLET, AND THE CHAMBER MUSIC SOCIETY OF LINCOLN CENTER AT SPAC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Sobol President And CEO | Officer | 40 | $343,457 |
Edward Jay Lafond CPA Chief Financial Officer | Officer | 40 | $141,431 |
Michele Desrosiers Chief Marketing Officer | Officer | 40 | $131,224 |
Jeff Vukelic Vice Chair | OfficerTrustee | 1 | $0 |
Anthony R Ianniello ESQ Treasurer | OfficerTrustee | 1 | $0 |
Ronald Riggi Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
824 Productions Production Services | 12/30/19 | $416,228 |
Mazzone Hospitality Catering Fees | 12/30/19 | $407,056 |
Mlb Construction Services Llc Construction | 12/30/19 | $519,086 |
Philadelphia Orchestra Performance Fee | 12/30/19 | $1,649,786 |
Nyc Ballet Performance Fee | 12/30/19 | $1,099,707 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,215,046 |
| Fundraising events | $254,945 |
| Related organizations | $0 |
| Government grants | $49,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,144,455 |
| Noncash contributions included in lines 1a–1f | $98,303 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,663,946 |
| Total Program Service Revenue | $2,984,372 |
| Investment income | $274,616 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $287,357 |
| Net Gain/Loss on Asset Sales | $49,619 |
| Net Income from Fundraising Events | $105,971 |
| Net Income from Gaming Activities | $45,718 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,091,486 |
| 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. | $714,842 |
| Compensation of current officers, directors, key employees. | $300,543 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,856,486 |
| Pension plan accruals and contributions | $60,733 |
| Other employee benefits | $195,327 |
| Payroll taxes | $161,421 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,355 |
| Fees for services: Accounting | $29,236 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $60,957 |
| Fees for services: Other | $4,861,738 |
| Advertising and promotion | $442,640 |
| Office expenses | $56,048 |
| Information technology | $53,398 |
| Royalties | $0 |
| Occupancy | $171,012 |
| Travel | $20,981 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $206,391 |
| Insurance | $109,528 |
| All other expenses | $179,091 |
| Total functional expenses | $9,428,464 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $170 |
| Savings and temporary cash investments | $1,860,583 |
| Pledges and grants receivable | $1,488,290 |
| Accounts receivable, net | $463,532 |
| 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 | $80,126 |
| Net Land, buildings, and equipment | $3,073,362 |
| Investments—publicly traded securities | $8,293,720 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $608,008 |
| Total assets | $15,867,791 |
| Accounts payable and accrued expenses | $1,686,681 |
| Grants payable | $0 |
| Deferred revenue | $1,651,187 |
| 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 | $174,471 |
| Total liabilities | $3,512,339 |
| Net assets without donor restrictions | $3,077,004 |
| Net assets with donor restrictions | $9,278,448 |
| 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 | $15,867,791 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Saratoga Springs Performing Arts Center Inc has recieved totaling $40,811.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $10,611 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $10,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $10,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $5,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $5,000 |
Ross Family Foundation Philadelphia, PA PURPOSE: FOR GENERAL PURPOSES | $200 |
Endowment Analysis
| Beg. Balance | $7,322,314 |
| Earnings | $1,408,445 |
| Admin Expense | $60,957 |
| Net Contributions | $1,600 |
| Ending Balance | $8,671,402 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Horace Bushnell Memorial Hall Corporation Hartford, CT | $69,994,331 | $15,110,595 |
Wang Theatre Inc Boston, MA | $13,670,531 | $13,423,297 |
Sheas Oconnel Preservation Guild Ltd Buffalo, NY | $22,697,237 | $14,476,818 |
Mccarter Theatre Company Princeton, NJ | $28,336,036 | $11,621,825 |
Count Basie Theatre Inc Red Bank, NJ | $55,404,363 | $10,735,757 |
Saratoga Springs Performing Arts Center Inc Saratoga Springs, NY | $15,867,791 | $11,091,486 |
Bergen Performing Arts Center Inc Englewood, NJ | $9,351,635 | $7,559,054 |
Celebrity Series Of Boston Boston, MA | $20,303,323 | $7,090,637 |
Symphony Space Inc New York, NY | $21,595,068 | $5,020,920 |
Rochester Broadway Theatre League Inc Rochester, NY | $7,199,920 | $5,854,219 |
Tremont Theatre Inc Boston, MA | $4,028,653 | $4,834,729 |
Encore Series Inc Philadelphia, PA | $964,962 | $5,371,183 |