Peace Center Foundation
- Assets
- $99.7m
- Revenue
- $17.6m
- Investments
- $14.3m
- Employees
- 151
- Location
- Greenville, SC
- Founding
- 02/1987
- Data as of
- 08/2021
- EIN
- 57-0811297
Organization Overview
Peace Center Foundation, operating under the name Peace Center, is located in Greenville, SC. The organization was established in 1987. 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 08/2021, Peace Center employed 151 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peace Center 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, Peace Center generated $17.6m 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 (3.2%) each year. All expenses for the organization totaled $7.0m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (15.6%) 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
TO ENRICH THE LIVES OF EVERYONE WE REACH
Describe the Organization's Program Activity:
THE PEACE CENTER PRESENTS HIGH QUALITY AND CULTURALLY SIGNIFICANT PERFORMING ARTISTS OF VARIED GENRES. THE ESTABLISHMENT OF THE VENUE AND RESULTANT PROGRAMMING MAKE THE PERFORMING ARTS ACCESSIBLE TO THE REGIONAL COMMUNITY. PERFORMANCES INCLUDE BROADWAY SHOWS, DANCE, FOLK, CLASSICAL, CHORAL, INTERNATIONAL, BLUES, ROCK, JAZZ, AND OPERA.
THE PEACE CENTER'S PERFORMANCE SERIES OF YOUTH PROVIDES STUDENTS, TEACHERS, AND HOME SCHOOL COMMUNITIES FROM ACROSS THE REGION THE OPPORTUNITY TO VIEW LIVE PROFESSIONAL THEATER, DANCE, AND MUSICAL EVENTS. THE PEACE CENTER ALSO PROVIDES TEACHER WORKSHOPS, ARTIST-IN-RESIDENCE PROGRAMS, A SUMMER TEACHER INSTITUTE, MASTERS CLASSES TAUGHT BY INTERNATIONALLY RENOWED ARTISTS FOR ASPIRING ARTISTS OF ALL AGES.
THE PEACE CENTER SERVES AS THE PRIMARY VENUE FOR LOCAL PERFORMING ARTS ORGANIZATIONS TO PRESENT PROGRAMMING GEAR TO THAT ORGANIZATION'S SPECIFIC ART FOCUS. THE PEACE CENTER'S RESIDENT COMPANIES INCLUDE THE GREENVILLE SYMPHONY ORCHESTRA, SOUTH CAROLINA CHILDREN'S THEATER, CAROLINA BALLET, INTERNATIONAL BALLET, AND SOUTH CAROLINA GOVERNOR'S SCHOOL FOR THE ARTS AND HUMANITIES. THE PEACE CENTER PROVIDES PROFESSIONAL FACILITY AND EVENT SERVICES AT SIGNIFICANTLY SUBSIDIZED RATES TO FISCALLY SUPPORT THE EFFORTS OF THESE LOCAL PERFORMING ARTS ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Riegel Megan E President / CEO | Officer | 50 | $412,812 |
Clark Scott CFO | Officer | 50 | $206,361 |
Meadows Margaret L VP Of External Relations | 40 | $162,692 | |
Ridolfo Brian W VP Of Programming | 40 | $148,318 | |
Alzuri Daniel VP Of Operations | 40 | $134,575 | |
Lakin Angela S VP Of Marketing | 40 | $130,547 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Buena Vista Theatrical Group Ltd Broadway Production | 8/30/21 | $1,559,603 |
Lms Touring Llc Broadway Production | 8/30/21 | $867,406 |
Beautiful Tour Carole Co Lp Broadway Production | 8/30/21 | $287,415 |
My Fair Lady On Tour Llc Broadway Production | 8/30/21 | $653,291 |
Stagetech Productions Llc Stage Labor | 8/30/21 | $356,411 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,895,008 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,739,411 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,634,419 |
| Total Program Service Revenue | $780,428 |
| Investment income | $980,584 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $635,756 |
| Net Gain/Loss on Asset Sales | $1,158,097 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $49,013 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,581,209 |
| 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. | $884,624 |
| Compensation of current officers, directors, key employees. | $322,754 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,405,626 |
| Pension plan accruals and contributions | $77,949 |
| Other employee benefits | $228,187 |
| Payroll taxes | $192,498 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,461 |
| Fees for services: Accounting | $24,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $228,137 |
| Fees for services: Other | $500,112 |
| Advertising and promotion | $74,581 |
| Office expenses | $218,852 |
| Information technology | $63,509 |
| Royalties | $3,060 |
| Occupancy | $374,022 |
| Travel | $9,591 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $43,685 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,171,340 |
| Insurance | $172,499 |
| All other expenses | $0 |
| Total functional expenses | $7,034,741 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,326 |
| Savings and temporary cash investments | $28,767,413 |
| Pledges and grants receivable | $129,340 |
| 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 | $40,447 |
| Prepaid expenses and deferred charges | $401,732 |
| Net Land, buildings, and equipment | $4,916,849 |
| Investments—publicly traded securities | $27,229,074 |
| Investments—other securities | $14,252,037 |
| Investments—program-related | $23,476,814 |
| Intangible assets | $0 |
| Other assets | $461,073 |
| Total assets | $99,689,105 |
| Accounts payable and accrued expenses | $683,290 |
| Grants payable | $0 |
| Deferred revenue | $11,300,943 |
| 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 | $11,984,233 |
| Net assets without donor restrictions | $87,474,498 |
| Net assets with donor restrictions | $230,374 |
| 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 | $99,689,105 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Peace Center Foundation has recieved totaling $19,125.
| Awarding Organization | Amount |
|---|---|
Jean T And Heyward G Pelham Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
David E Maguire Foundation Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
Charles Timmons Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $2,500 |
Elbert W Rogers Foundation Greenville, SC PURPOSE: 2022 SEASON SUPPORT | $1,500 |
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $125 |
Endowment Analysis
| Beg. Balance | $36,992,131 |
| Earnings | $9,243,703 |
| Other Expense | $228,137 |
| Ending Balance | $46,007,697 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Peace Center Foundation Greenville, SC | $99,689,105 | $17,581,209 |
Rivercenter Inc Columbus, GA | $5,489,865 | $4,501,265 |
Pack Place Performing Arts Asheville, NC | $4,993,053 | $1,808,862 |
North Carolina Soybean Producers Raleigh, NC | $5,156,831 | $2,482,483 |
Salt Block Foundation Inc Hickory, NC | $12,460,479 | $951,674 |
St Josephs Historic Foundation Inc Durham, NC | $3,339,027 | $869,376 |
Carolina Theatre Of Greensboro Inc Greensboro, NC | $7,293,869 | $1,077,005 |
Charlotte Concerts dba Charlotte Concerts Charlotte, NC | $0 | $0 |
The Green Room Community Theatre Inc Newton, NC | $4,403,932 | $1,369,845 |
Sunrise Preservation Group Inc Southern Pines, NC | $1,527,397 | $883,769 |
Lucas Theatre For The Arts Inc Savannah, GA | $6,334,938 | $300,000 |
Fine Arts Center Of Kershaw County Inc Camden, SC | $2,916,633 | $528,617 |