Pittsburgh Trust For Cultural Resources

Organization Overview

Pittsburgh Trust For Cultural Resources, operating under the name Pittsburgh Cultural Trust, is located in Pittsburgh, PA. The organization was established in 1984. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Pittsburgh Cultural Trust employed 406 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pittsburgh Cultural Trust 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 12/2021, Pittsburgh Cultural Trust generated $50.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $31.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO ADVANCE THE REGION'S ECONOMY THROUGH THE DEVELOPMENT OF PITTSBURGH'S CULTURAL DISTRICT

Describe the Organization's Program Activity:

FACILITIES MANAGEMENT & REAL ESTATE DEVELOPMENT: THROUGH PUBLIC AND PRIVATE PARTNERSHIPS, A CRITICAL MISSION OF THE TRUST IS TO TRANSFORM DOWNTOWN PITTSBURGH. WHAT WAS ONCE A DOWNTRODDEN AREA LINED WITH NOXIOUS ESTABLISHMENTS IS NOW A DYNAMIC 14-BLOCK HUB FOR ARTS, ENTERTAINMENT, BUSINESS & URBAN LIVING. THE TRUST STEADILY UPGRADES THE DISTRICT'S PHYSICAL LOOK, FEEL & EXPERIENCE THROUGH PROJECTS SUCH AS IMPROVING STREETSCAPES, BUILDING RESTORATION, AND ESTABLISHING PUBLIC PARKS AND PLAZAS, AS WELL AS OUTDOOR ART SPACE. THIS MISSION WAS NEVER MORE IMPORTANT THAN DURING THE PANDEMIC WHEN THE TRUST'S MANAGEMENT, MAINTENANCE AND SUPPORT OF OVER 1,300,000 SQUARE FEET OF PROPERTY, SUCH AS: THE BENEDUM CENTER; BYHAM, O'REILLY, & HARRIS THEATERS; THEATER SQUARE; AND ARTS EDUCATION CENTER AMONG OTHER DOWNTOWN GALLERIES & PROPERTIES PRESERVED, MAINTAINED AND MADE PUBLIC HEALTH AND SAFETY ENHANCEMENTS TO THESE VENUES TO HELP SAFELY WELCOME THE PUBLIC'S RETURN TO THESE MAGNIFICENT REGIONAL ASSETS.THE COVID-19 PANDEMIC CONTINUED TO MAKE AN IMPACT ON VENUE PROGRAMMING FROM ALL USERS OF THESE FACILITIES, SIGNIFICANTLY AFFECTING RENTAL REVENUE, TICKET SALES AND BRINGING THE OVERALL REVENUE DOWN. MAINTENANCE OF ALL THE FACILITIES IN ADDITION TO COSTS ASSOCIATED WITH THE PROVISION OF SHARED SERVICES TO RESIDENT COMPANIES WERE INCURRED WITHOUT SUFFICIENT CORRESPONDING REVENUE. THE TRUST WAS ABLE TO BEGIN TO REOPEN THE FACILITIES IN SEPTEMBER OF 2021.


PRESENTING AND PROGRAMMING: THE TRUST BRINGS THE WORLD'S FINEST PERFORMANCES AND VISUAL ARTS TO WESTERN PA. EACH YEAR, OVER 1,700 EVENTS, PROGRAMS & EXHIBITIONS OCCUR IN TRUST FACILITIES & THROUGHOUT THE CULTURAL DISTRICT, ATTRACTING OVER TWO MILLION VISITORS. THE TRUST PRESENTS & SUPPORTS DIVERSE PERFORMING ART, INCLUDING PNC BROADWAY ACROSS AMERICA - PITTSBURGH, PITTSBURGH DANCE COUNCIL, TRUST PRESENTS, PITTSBURGH INTERNATIONAL CHILDREN'S THEATER & FESTIVAL, FIRST NIGHT, AND THREE RIVERS ARTS FESTIVAL AMONG OTHERS. WITH THE PANDEMIC ONGOING THROUGH 2021, THE TRUST CONTINUED TO PRESENT AND CONNECT THE PUBLIC TO THE ARTS THROUGH DIGITAL MEDIUM AND BEGAN TO PRESENT LIVE ENTERTAINMENT AS THE FACILITIES OPENED IN SEPTEMBER 2021. THE FREE PROGRAMMING EXPOSED THE ARTS TO MANY FIRST TIME VISITORS. THE TRUST'S ABILITY TO PIVOT TO VIRTUAL PROGRAMMING WAS CRITICALLY IMPORTANT TO THE HEALTH, WELL-BEING AND EDUCATION OF THE REGION'S CITIZENRY.THE TRUST IS ALSO A PROUD EXHIBITOR OF CUTTING-EDGE ART & THE CREATOR OF CONTEMPORARY ART GALLERIES: WOOD STREET GALLERIES, SPACE; 707 PENN; THE LANTERN GALLERY, AND CARNEGIE MELLON UNIVERSITY'S STUDENT-RUN FUTURE TENANT. WHILE MANY OF THESE VENUES WERE SHUTTERED DURING THE YEAR, THE TEAM TURNED ITS FOCUS TO LIMITED DIGITAL PROGRAMMING AND FUTURE ARTISTIC PLANNING.


EDUCATION, COMMUNITY OUTREACH & ARTS SERVICES: THE TRUST OFFERS A RANGE OF EDUCATIONAL EVENTS & ACTIVITIES FOR STUDENTS, EDUCATORS & UNDERSERVED POPULATIONS OF ALL AGES & BACKGROUNDS TO DEVELOP DIVERSE & VIBRANT ARTS AUDIENCES FOR THE FUTURE. ANNUALLY, THE TRUST SERVES OVER 100,000 STUDENTS, EDUCATORS & COMMUNITY MEMBERS IN WESTERN PENNSYLVANIA & SUPPORTS MORE THAN 1,000 AREA ARTISTS & ARTS ORGANIZATIONS. DURING THE PANDEMIC, THE TRUST'S MARKETING AND TECHNOLOGY TEAMS DEVELOPED VIRTUAL ART MARKET PLACE AND VIRTUAL CONTENT TO CONTINUE ITS EDUCATIONAL PURPOSE. THAT ALLOWED THE TRUST TO REACH ITS AUDIENCE AND DELIVER THE PROGRAMMING EVEN DURING THE PANDEMIC. THE TRUST IS ALSO A WORLD LEADER IN ARTS COLLABORATION AMONG PERFORMING ARTS ORGANIZATIONS. THROUGH ITS SHARED SERVICES DEPARTMENT, THE TRUST INCREASES EFFICIENCIES AND DECREASES COSTS FOR SIX CULTURAL DISTRICT ORGANIZATIONS. FURTHER, THE TRUST HELPS ARTS ORGANIZATIONS WITH HIGHLY SUBSIDIZED RATES FOR PERFORMANCES/OFFICE SPACE, ALLOWING THEM TO INVEST MORE RESOURCES INTO THEIR CORE ARTISTIC MISSIONS. THIS WORK CONTINUED THROUGHOUT THE PANDEMIC.


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Board, Officers & Key Employees

Name (title)Compensation
J Kevin Mcmahon
President And CEO
$724,321
Rona Nesbit
Executive Vice President
$357,349
Nick Gigante
VP Of Development
$217,343
Marc Fleming
VP Of Marketing
$210,219
Scott Shiller
VP Of Artistic Planning
$209,198
Daniel Hoffer
Chief Information Officer
$195,685

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Flyspace Productions Llc
Event Production
$983,419
Abm Building
Custodial Services
$256,027
Trigate Incorporated
Property Management
$205,130
Black Knight Security
Security
$614,688
Grand View Realty Services Inc
Real Estate Services
$152,050
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$221,052
Related organizations$346,974
Government grants $10,406,330
All other contributions, gifts, grants, and similar amounts not included above$24,857,910
Noncash contributions included in lines 1a–1f $785,600
Total Revenue from Contributions, Gifts, Grants & Similar$35,832,266
Total Program Service Revenue$12,423,451
Investment income $931,682
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$613,446
Net Gain/Loss on Asset Sales $2,108,039
Net Income from Fundraising Events -$80,179
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $50,601,813

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Pittsburgh Trust For Cultural Resources has recieved totaling $21,500.

Awarding OrganizationAmount
Glenlaurel Foundation

Wilmington, DE

PURPOSE: GENERAL & UNRESTRICTED

$21,500
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$35,870,097
Earnings$7,219,738
Admin Expense$92,200
Net Contributions$1,442,112
Other Expense$1,680,000
Ending Balance$42,759,747

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