Maxwell C King Center For The Performing Arts Inc
- Assets
- $10.1m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Cocoa, FL
- Founding
- 03/1988
- Data as of
- 06/2022
- EIN
- 59-2844281
Organization Overview
Maxwell C King Center For The Performing Arts Inc is located in Cocoa, FL. The organization was established in 1988. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maxwell C King Center For The Performing Arts 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 06/2022, Maxwell C King Center For The Performing Arts Inc generated $8.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $5.5m during the year ending 06/2022. While expenses have increased by 1.0% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE KING CENTER PROVIDED CULTURAL ENRICHMENT FOR BREVARD COUNTY RESIDENTS BY SPONSORING THEATRICAL PERFORMANCES AS WELL AS MAKING THE FACILITY AVAILABLE TO LOCAL PERFORMING ART GROUPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING FISCAL YEAR 2021-2022, THE CENTER UNDERWENT A REBRANDING CAMPAIGN. THE BUILDINGS OUTSIDE SIGN GOT REPAIRED, THERE WAS A DETAILED MARKET ANALYSIS DONE TO IDENTIFY WHICH SHOWS WERE OF INTEREST TO PATRONS, THE KING CENTERS WEBSITE GOT REDESIGNED, AND DIRECT MAILERS WERE MAILED OUT TO HELP BRING IN NEW PATRONS AND BRING OLD PATRONS BACK.
DURING FISCAL YEAR 2021-2022, THE CENTER PURCHASED MOBILE CONCESSION CARTS TO BETTER SERVE PATRONS DURING SHOWS. THE CENTER ALSO PURCHASED A NEW POS SYSTEM ALONG WITH NEW COMPUTERS AND MONITORS. THE OUTDOOR ELECTRONIC MESSAGE BOARD WAS ALSO REPAIRED.
THE KING CENTER 2021-2022 SEASON OFFERED 87 MAIN STAGE EVENTS. THIS WAS 62 MORE SHOWS FROM THE PREVIOUS YEAR. THIS WAS DUE TO THE RELEASE ON RESTRICUTIONS FROM THE COVID-19 PANDEMIC WHICH ALLOWED THE CENTER TO BOOK AND OFFER MORE SHOWS THAN IN THE PRIOR YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony J Catanese Chair | OfficerTrustee | 5 | $0 |
Tom Molnar Vice-Chair | OfficerTrustee | 5 | $0 |
James H Richey JD President Of Eastern Florida State College | OfficerTrustee | 5 | $0 |
Steven Wm Bierbrunner Treasurer/secretary | OfficerTrustee | 5 | $0 |
Ronald Howse District Board Of Trustees Appointment | Officer | 5 | $0 |
Michael Grieves Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,017,482 |
| All other contributions, gifts, grants, and similar amounts not included above | $58,522 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,076,004 |
| Total Program Service Revenue | $4,988,180 |
| Investment income | $225,619 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,368,626 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,238,622 |
| Pension plan accruals and contributions | $28,559 |
| Other employee benefits | $138,966 |
| Payroll taxes | $99,249 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,330 |
| Fees for services: Accounting | $27,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,780 |
| Fees for services: Other | $976,041 |
| Advertising and promotion | $201,155 |
| Office expenses | $160,483 |
| Information technology | $25,102 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10,157 |
| 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 | $0 |
| Insurance | $39,274 |
| All other expenses | $25,264 |
| Total functional expenses | $5,476,715 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,031,219 |
| Savings and temporary cash investments | $1,673,523 |
| Pledges and grants receivable | $6,250 |
| Accounts receivable, net | $88,136 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $20,465 |
| Prepaid expenses and deferred charges | $37,389 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,280,248 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,137,230 |
| Accounts payable and accrued expenses | $598,319 |
| Grants payable | $0 |
| Deferred revenue | $1,240,463 |
| 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 | $1,838,782 |
| Net assets without donor restrictions | $7,098,448 |
| Net assets with donor restrictions | $1,200,000 |
| 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 | $10,137,230 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Maxwell C King Center For The Performing Arts Inc has recieved totaling $7,000.
| Awarding Organization | Amount |
|---|---|
United Way Of Brevard County Inc Rockledge, FL PURPOSE: DONOR DESIGNATION | $7,000 |
Endowment Analysis
| Beg. Balance | $5,380,814 |
| Earnings | -$631,599 |
| Admin Expense | $46,779 |
| Other Expense | $900 |
| Ending Balance | $4,701,536 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tampa Bay Performing Arts Center Tampa, FL | $46,297,228 | $24,294,667 |
The Florida Theatre Performing Arts Jacksonville, FL | $15,331,113 | $12,957,631 |
Maxwell C King Center For The Performing Arts Inc Cocoa, FL | $10,137,230 | $8,368,626 |
Rivercenter Inc Columbus, GA | $5,489,865 | $4,501,265 |
Maltz Jupiter Theatre Inc Jupiter, FL | $40,833,845 | $12,006,025 |
Opera Orlando Inc Orlando, FL | $507,305 | $2,036,240 |
Emerald Coast Theatre Company Miramar Beach, FL | $848,624 | $1,713,398 |
Zoetic Stage Inc Miami, FL | $319,976 | $861,527 |
Princess Theatre Center For The Performing Arts Decatur, AL | $709,862 | $747,473 |
Polk Theatre Inc Lakeland, FL | $2,167,498 | $771,535 |
Lake Worth Playhouse Inc Lake Worth, FL | $754,121 | $502,561 |
Boca Raton Arts District Exploratory Corporation Boca Raton, FL | $6,531,467 | $1,859,773 |