Spoleto Festival U S A
- Assets
- $23.6m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 50
- Location
- Charleston, SC
- Founding
- 09/1978
- Data as of
- 08/2021
- EIN
- 57-0660848
Organization Overview
Spoleto Festival U S A is located in Charleston, SC. The organization was established in 1978. 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 08/2021, Spoleto Festival U S A employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spoleto Festival U S A 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 08/2021, Spoleto Festival U S A generated $7.3m 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 (3.6%) each year. All expenses for the organization totaled $5.9m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (8.5%) 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 MISSION OF SPOLETO FESTIVAL USA IS TO PRESENT PROGRAMS OF THE HIGHEST ARTISTIC CALIBER WHILE MAINTAINING A DEDICATION TO YOUNG ARTISTS, A COMMITMENT TO ALL FORMS OF THE PERFORMING ARTS, A PASSION FOR CONTEMPORARY INNOVATION, AND AN ENTHUSIASM FOR PROVIDING UNUSUAL PERFORMANCE OPPORTUNITIES FOR ESTABLISHED ARTISTS.
Describe the Organization's Program Activity:
IN 2021, DUE TO COVID-19, THE FESTIVAL WAS FORCED TO PRESENT A SIGNIFICANTLY CURTAILED SEASON. NEVERTHELESS, THROUGH SOCIALLY DISTANCED, OUTDOOR, AND VIRTUAL PERFORMANCES, THE FESTIVAL SAFELY OFFERED ITS LOCAL AND AWAY COMMUNITY 17 DAYS OF PERFORMING ARTS. THE 2021 FESTIVAL'S THREE LARGEST PROGRAM SERVICES INCLUDED A DANCE SERIES HELD OUTDOORS AT RIVERS GREEN OF COLLEGE OF CHARLESTON; LIVE MUSIC PERFORMANCES HELD IN THE COLLEGE OF CHARLESTON'S CISTERN YARD, AND A CHAMBER MUSIC SERIES. THE 2021 DANCE SERIES INCLUDED PERFORMANCES BY CALEB TEICHNER & COMPANY; BALLET UNDER THE STARS PERFORMED BY MEMBERS OF THE NYC BALLET AND AMERICAN BALLET THEATRE; AND EPHRAT ASHERIE DANCE.
THE SECOND LARGEST PROGRAM WAS THE CHAMBER MUSIC SERIES WHICH IS A LINCHPIN TO THE FESTIVAL. TRADITIONALLY, THIS SERIES CONSISTS OF 11 PROGRAMS PERFORMED THREE TIMES EACH (33 PROGRAMS TOTAL). IN 2021, THE FESTIVAL ALSO OFFERED VIDEO-RECORDED EXCERPTS OF THE SERIES ON ITS YOUTUBE CHANNEL.
THE LIVE MUSIC PROGRAM AT THE CISTERN YARD WELCOMED PRESERVATION HALL JAZZ BAND; THE COOKERS; A NEW ORLEANS JAZZ CELEBRATION (A TRIBUTE TO THE LIFE OF DANNY BARKER) PERFORMED BY SEVERAL JAZZ-GIANTS SUCH AS CATHERINE RUSSELL, JEFFERY MILLER, AND GREGG STAFFORD; AND TWO WINGS: THE MUSIC OF BLACK AMERICA PRODUCED AND PERFORMED BY HUSBAND-AND-WIFE DUO ALICIA HALL MORAN AND JASON MORAN. OTHER LIVE MUSIC OFFERINGS INCLUDED PERFORMANCES BY SARAH JAROSZ; STEEP CANYON RANGERS; AND THE WOOD BROTHERS.
OTHER PROGRAM SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Nigel Redden General Director | Officer | 40 | $271,710 |
Ms Tasha Gandy Chief Financial Officer | Officer | 40 | $141,801 |
Ms Julia Foster Director Of Development | 40 | $136,360 | |
Ms Nicole Taney Director Of Artistic Plann | 40 | $115,762 | |
Mr Michael East Director Of Production | 40 | $105,577 | |
Mr William G Medich Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kplan Select Employee Retirement Plan Services | 8/30/21 | $235,995 |
Bluecross Blueshield Of South Carolina Employee Health Insurance | 8/30/21 | $176,311 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $7,350 |
| Related organizations | $0 |
| Government grants | $1,227,235 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,382,316 |
| Noncash contributions included in lines 1a–1f | $107,590 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,616,901 |
| Total Program Service Revenue | $896,952 |
| Investment income | $240,507 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $225,093 |
| Net Gain/Loss on Asset Sales | $229,934 |
| Net Income from Fundraising Events | $91,986 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $13,079 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,325,323 |
| 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. | $449,464 |
| Compensation of current officers, directors, key employees. | $109,390 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,244,343 |
| Pension plan accruals and contributions | $117,138 |
| Other employee benefits | $254,128 |
| Payroll taxes | $151,715 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,539 |
| Fees for services: Other | $279,650 |
| Advertising and promotion | $147,854 |
| Office expenses | $161,434 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $39,850 |
| Travel | $368,552 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $66,270 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $453,073 |
| Insurance | $200,672 |
| All other expenses | $413,337 |
| Total functional expenses | $5,914,617 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,186,539 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,484,555 |
| Accounts receivable, net | $351,247 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,000 |
| Prepaid expenses and deferred charges | $254,119 |
| Net Land, buildings, and equipment | $5,111,481 |
| Investments—publicly traded securities | $13,810,769 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $423,875 |
| Total assets | $23,626,585 |
| Accounts payable and accrued expenses | $371,320 |
| Grants payable | $0 |
| Deferred revenue | $432,168 |
| 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 | $2,368,740 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,283 |
| Total liabilities | $3,185,511 |
| Net assets without donor restrictions | $3,504,760 |
| Net assets with donor restrictions | $16,936,314 |
| 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 | $23,626,585 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Spoleto Festival U S A has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Almeida Family Foundation Chicago, IL PURPOSE: GENERAL SUPPORT | $10,000 |
Wayne And Carolyn Jones Charitable Foundation Fayetteville, NC PURPOSE: GENERAL | $5,000 |
Island Farm Foundation Charleston, SC PURPOSE: FUNDING FOR PERFORMING ARTS FESTIVAL | $5,000 |
Endowment Analysis
| Beg. Balance | $11,710,633 |
| Earnings | $2,563,553 |
| Net Contributions | $691,364 |
| Other Expense | $445,384 |
| Ending Balance | $14,520,166 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Spoleto Festival U S A Charleston, SC | $23,626,585 | $7,325,323 |
John C Campbell Folk School Brasstown, NC | $20,488,128 | $4,524,565 |
Arts Center Of Coastal Carolina Hilton Head Island, SC | $10,441,766 | $4,547,581 |
Cafe 1040 Inc Alpharetta, GA | $1,445,364 | $4,184,740 |
Safe States Alliance Atlanta, GA | $855,123 | $2,462,301 |
Artsnow Inc Atlanta, GA | $4,742,407 | $2,526,341 |
Lake City Creative Alliance Lake City, SC | $2,218,618 | $313,280 |
Spruill Center For The Arts Inc Atlanta, GA | $6,437,897 | $2,168,968 |
Atlanta Dogwood Festival Inc Atlanta, GA | $455,416 | $1,726,662 |
Leaf Community Arts Asheville, NC | $3,845,862 | $2,454,886 |
Greenville Arts Festival Greenville, SC | $414,917 | $1,429,371 |
Thomasville Cultural Center Inc Thomasville, GA | $2,261,384 | $1,406,934 |