Cabot Performing Arts Center Inc
- Assets
- $9.3m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 40
- Location
- Beverly, MA
- Founding
- 11/2014
- Data as of
- 06/2022
- EIN
- 47-1431634
Organization Overview
Cabot Performing Arts Center Inc, operating under the name The Cabot, is located in Beverly, MA. The organization was established in 2014. 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 06/2022, Cabot employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cabot 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 06/2022, Cabot generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $3.9m during the year ending 06/2022. While expenses have increased by 12.4% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE OUR HISTORIC THEATER AND BRING VIBRANCY TO THE COMMUNITY THROUGH DIVERSE PROGRAMMING THAT ENTERTAINS, EDUCATES, AND INSPIRES.
Describe the Organization's Program Activity:
WITH OUR FIRST FULL YEAR OF OPERATIONS COMING OUT OF THE PANDEMIC, WE PRESENTED OVER 100 LIVE EVENTS AT THE CABOT AND AT HALE FARM TO OVER 45,000 PEOPLE. WE ALSO OPENED A NEW CLUB FOR COMEDY AND EVENTS, OFF CABOT, IN MARCH. THE CABOT ALSO LAUNCHED OUR SERIES "COMMUNITY CONVERSATIONS" AS WELL AS OUR "IN FOCUS" FILM EDUCATION PROGRAMS TO BETTER SERVE THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John C Soward Executive Director | Officer | 40 | $168,117 |
Robert J Stoneham Dir, Facilities & Admin | Officer | 40 | $82,115 |
Richard Marino Director (see 990, Sch O) | Trustee | 2 | $2,992 |
Stephen Immerman President/director | OfficerTrustee | 6 | $0 |
John Drislane Treasurer/director | OfficerTrustee | 3 | $0 |
Mark Jaffe Vp/vice Chair/director | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tocco Corporation Construction Service | 6/29/19 | $105,208 |
Tiro Design & Construction Llc Construction Service | 6/29/19 | $356,137 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $145,309 |
| Fundraising events | $724,842 |
| Related organizations | $0 |
| Government grants | $1,497,831 |
| All other contributions, gifts, grants, and similar amounts not included above | $654,671 |
| Noncash contributions included in lines 1a–1f | $161,398 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,022,653 |
| Total Program Service Revenue | $2,011,617 |
| Investment income | $4,506 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $214,136 |
| Net Gain/Loss on Asset Sales | $1,727 |
| Net Income from Fundraising Events | -$185,285 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $277,160 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,349,464 |
| 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. | $408,720 |
| Compensation of current officers, directors, key employees. | $118,339 |
| Compensation to disqualified persons | $619,504 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $49,199 |
| Payroll taxes | $91,399 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $780 |
| Fees for services: Accounting | $49,746 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,213 |
| Advertising and promotion | $335,216 |
| Office expenses | $21,357 |
| Information technology | $59,124 |
| Royalties | $0 |
| Occupancy | $193,955 |
| Travel | $6,512 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $39,907 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $379,113 |
| Insurance | $39,456 |
| All other expenses | $22,008 |
| Total functional expenses | $3,905,370 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,450,514 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $133,181 |
| Accounts receivable, net | $372,985 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $27,515 |
| Prepaid expenses and deferred charges | $89,566 |
| Net Land, buildings, and equipment | $5,226,016 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $9,302,777 |
| Accounts payable and accrued expenses | $271,453 |
| Grants payable | $0 |
| Deferred revenue | $76,787 |
| 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 | $949,416 |
| Other liabilities | $54,102 |
| Total liabilities | $1,351,758 |
| Net assets without donor restrictions | $6,954,303 |
| Net assets with donor restrictions | $996,716 |
| 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 | $9,302,777 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Cabot Performing Arts Center Inc has recieved totaling $101,275.
| Awarding Organization | Amount |
|---|---|
Amelia Peabody Charitable Fund Trs Boston, MA PURPOSE: CAPITAL | $30,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $23,700 |
Steven M & Joyce E Tadler Charitable Tr Boston, MA PURPOSE: UNRESTRICTED | $20,000 |
Lynch Foundation Boston, MA PURPOSE: GENERAL OPERATING SUPPORT | $12,500 |
F Irviug Hutchins Charitale Trust Chicago, IL PURPOSE: GENERAL | $5,000 |
East Boston Saving Bank Charitable Foundation Inc Rockland, MA PURPOSE: EXEMPT PURPOSES | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Horace Bushnell Memorial Hall Corporation Hartford, CT | $69,994,331 | $15,110,595 |
Rochester Broadway Theatre League Inc Rochester, NY | $14,097,725 | $11,757,109 |
Celebrity Series Of Boston Boston, MA | $21,295,635 | $11,486,131 |
Arts Center And Theater Of Schenectady Inc Schenectady, NY | $59,537,808 | $17,534,824 |
Saratoga Springs Performing Arts Center Inc Saratoga Springs, NY | $31,890,328 | $10,810,263 |
Tremont Theatre Inc Boston, MA | $4,028,653 | $4,834,729 |
Stamford Center For The Arts Inc Stamford, CT | $18,714,807 | $7,026,118 |
Palace Theatre Trust Manchester, NH | $12,127,067 | $4,561,211 |
Friends Of The Music Hall Portsmouth, NH | $11,111,524 | $6,060,196 |
Palace Theater Group Inc Waterbury, CT | $7,137,767 | $7,444,031 |
Symphony Space Inc New York, NY | $23,080,716 | $5,038,783 |
Cabot Performing Arts Center Inc Beverly, MA | $9,302,777 | $5,349,464 |