Performing Arts Fort Worth Inc
- Assets
- $129.7m
- Revenue
- $30.9m
- Investments
- $0.0
- Employees
- 218
- Location
- Fort Worth, TX
- Founding
- 09/1993
- Data as of
- 06/2022
- EIN
- 75-2457270
Organization Overview
Performing Arts Fort Worth Inc is located in Fort Worth, TX. The organization was established in 1993. 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 06/2023, Performing Arts Fort Worth Inc employed 218 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Performing Arts Fort Worth 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, Performing Arts Fort Worth Inc generated $30.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $22.7m during the year ending 06/2022. While expenses have increased by 3.9% 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
TO SERVE AS A PERMANENT HOME TO MAJOR PERFORMING ARTS ORGANIZATIONS OF FORT WORTH AND AS A PREMIER VENUE FOR TOURING ATTRACTIONS AND TO PROMULGATE ARTS EDUCATION. SEE SCH. O, GS 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTIONS AND PERFORMANCES - SEE SCHEDULE O GENERAL STATEMENT 1.
EDUCATIONAL ACTIVITIES - SEE SCHEDULE O GENERAL STATEMENT 1.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elaine B Agather Board Chairman | OfficerTrustee | 1 | $0 |
Edward P Bass Board Chairman Emeritus | OfficerTrustee | 1 | $0 |
Patricia H Schutts Board Vice Chair Emeritus | OfficerTrustee | 1 | $0 |
Joel T Sawyer Board Vice President / Treasurer | OfficerTrustee | 1 | $0 |
Dee J Kelly Jr Board Vice President | OfficerTrustee | 1 | $0 |
Jean Roach Board Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Autumn Smile Us Tour Llc Artist Fee | 6/29/23 | $737,161 |
Mean Girls National Tour Llc Artist Fee | 6/29/23 | $571,245 |
My Fair Lady Touring Llc Artist Fee | 6/29/23 | $478,987 |
Angelica Tour Llc Artist Fee | 6/29/23 | $5,763,836 |
Hosanna Tour Llc Artist Fee | 6/29/23 | $454,804 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,256,043 |
| Noncash contributions included in lines 1a–1f | $189,077 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,256,043 |
| Total Program Service Revenue | $15,337,174 |
| Investment income | $1,301,742 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $193,244 |
| Net Gain/Loss on Asset Sales | $1,760,478 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $19,361 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,931,955 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $29,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $966,388 |
| Compensation of current officers, directors, key employees. | $705,521 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,325,201 |
| Pension plan accruals and contributions | $304,128 |
| Other employee benefits | $390,927 |
| Payroll taxes | $321,490 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,003 |
| Fees for services: Accounting | $61,147 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $365,459 |
| Fees for services: Other | $454,242 |
| Advertising and promotion | $736,628 |
| Office expenses | $254,683 |
| Information technology | $586,354 |
| Royalties | $0 |
| Occupancy | $515,114 |
| Travel | $26,991 |
| 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 | $2,984,034 |
| Insurance | $255,842 |
| All other expenses | $0 |
| Total functional expenses | $22,668,727 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $17,944,158 |
| Pledges and grants receivable | $214,000 |
| Accounts receivable, net | $137,362 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $196,308 |
| Prepaid expenses and deferred charges | $367,263 |
| Net Land, buildings, and equipment | $40,836,639 |
| Investments—publicly traded securities | $56,663,885 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,357,290 |
| Total assets | $129,716,905 |
| Accounts payable and accrued expenses | $754,362 |
| Grants payable | $0 |
| Deferred revenue | $5,992,474 |
| 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 | $6,746,836 |
| Net assets without donor restrictions | $57,776,895 |
| Net assets with donor restrictions | $65,193,174 |
| 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 | $129,716,905 |