Adrienne Arsht Center Foundation Inc
- Assets
- $6.5m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 2
- Location
- Miami, FL
- Founding
- 08/2008
- Data as of
- 09/2021
- EIN
- 26-2567808
Organization Overview
Adrienne Arsht Center Foundation Inc is located in Miami, FL. The organization was established in 2008. 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 09/2021, Adrienne Arsht Center Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adrienne Arsht 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 09/2021, Adrienne Arsht Center Foundation Inc generated $1.5m 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 (8.9%) each year. All expenses for the organization totaled $760.5k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (22.5%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADRIENNE ARSHT CENTER FOUNDATION, INC. RAISES PRIVATE CONTRIBUTIONS OF FUNDS AND IN-KIND GIFTS FOR THE ADRIENNE ARSHT CENTER TRUST, INC., A FLORIDA NON-PROFIT CORPORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Johann Zietsman President & CEO | Officer | 30 | $256,302 |
Suzanna Valdez Wolfe Vice President,advancement | 50 | $180,426 | |
Adrienne Arsht Founding Chairman | OfficerTrustee | 1 | $0 |
Eric G Johnson Director | OfficerTrustee | 1 | $0 |
Nancy Batchelor Secretary | OfficerTrustee | 1 | $0 |
Lee E Caplin Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $251,282 |
| Fundraising events | $694,526 |
| Related organizations | $0 |
| Government grants | $41,668 |
| All other contributions, gifts, grants, and similar amounts not included above | $698,225 |
| Noncash contributions included in lines 1a–1f | $16,480 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,685,701 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$214,070 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,471,631 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $155,000 |
| 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. | $228,978 |
| Compensation of current officers, directors, key employees. | $10,185 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $294,024 |
| Pension plan accruals and contributions | $9,764 |
| Other employee benefits | $8,201 |
| Payroll taxes | $18,782 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,283 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,467 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,737 |
| Travel | $0 |
| 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 | $4,500 |
| Insurance | $2,342 |
| All other expenses | $0 |
| Total functional expenses | $760,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,246,957 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,188,138 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $6,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,000 |
| Total assets | $6,461,095 |
| Accounts payable and accrued expenses | $78,574 |
| Grants payable | $0 |
| Deferred revenue | $50,000 |
| 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 | $0 |
| Total liabilities | $128,574 |
| Net assets without donor restrictions | $2,963,428 |
| Net assets with donor restrictions | $3,369,093 |
| 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 | $6,461,095 |
Grants Recieved
Over the last fiscal year, we have identified 19 grants that Adrienne Arsht Center Foundation Inc has recieved totaling $530,895.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $100,000 |
Meidar Fam Charitable Tr Rockville Centre, NY PURPOSE: SUPPORT PERFORMING ARTS | $75,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $75,000 |
Himan Brown Charitable Tr New York, NY PURPOSE: GENERAL | $50,000 |
The Miami Foundation Inc Miami, FL PURPOSE: PROGRAM SUPPORT | $39,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: ARTS AND CULTURE | $34,400 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Adrienne Arsht Center Trust Inc Miami, FL | $40,375,100 | $35,550,513 |
Dr Phillips Center For The Performing Arts Inc Orlando, FL | $72,410,407 | $23,068,254 |
Broward Performing Arts Foundation Inc Fort Lauderdale, FL | $22,267,625 | $6,295,369 |
Alabama Educational Television Foundation Authority Birmingham, AL | $11,749,441 | $5,899,982 |
Udt-Seal Museum Association Inc Fort Pierce, FL | $11,703,499 | $4,225,376 |
Tampa Bay Performing Arts Center Foundation Inc Tampa, FL | $58,693,450 | $5,079,168 |
Bellingrath Gardens And Home Foundation Inc Theodore, AL | $4,998,208 | $3,680,917 |
Sarasota Performing Arts Center Foundation Inc Sarasota, FL | $17,775,293 | $3,231,495 |
The Callanwolde Foundation Inc Atlanta, GA | $3,540,357 | $1,973,152 |
Birmingham Negro Southern League Museum Foundation Birmingham, AL | $525,950 | $1,055,962 |
John & Mable Ringling Museum Of Art Foundation Sarasota, FL | $7,269,339 | $1,949,232 |
Liberty Regional Medical Center Inc Hinesville, GA | $65,773 | $1,307,530 |