Oregon Shakespearean Festival Endowment Fund Inc
- Assets
- $33.0m
- Revenue
- $1.1m
- Investments
- $3.5m
- Employees
- 0
- Location
- Ashland, OR
- Founding
- 12/1992
- Data as of
- 10/2020
- EIN
- 93-6041618
Organization Overview
Oregon Shakespearean Festival Endowment Fund Inc is located in Ashland, OR. The organization was established in 1992. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. Oregon Shakespearean Festival Endowment Fund 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 10/2020, Oregon Shakespearean Festival Endowment Fund Inc generated $1.1m 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 (25.4%) each year. All expenses for the organization totaled $3.6m during the year ending 10/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT FOR THE OREGON SHAKESPEARE FESTIVAL ASSOCIATION, A 501(C)(3) ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT FOR THE OREGON SHAKESPEARE FESTIVAL ASSOCIATION: THE ENDOWMENT FUND EXISTS TO INVEST CERTAIN ASSETS FOR THE BENEFIT OF THE OREGON SHAKESPEARE FESTIVAL ASSOCIATION, A SEPARATE 501(C)(3) ORGANIZATION. THE FUND RECEIVES CONTRIBUTIONS FOR THIS PURPOSE, INCLUDING DONOR RESTRICTED GIFTS, INVESTS THESE CONTRIBUTIONS UTILIZING PROFESSIONAL ADVICE AND MODERN PORTFOLIO MANAGEMENT TECHNIQUES, INCLUDING A DIVERSIFIED ASSET ALLOCATION, AND ANNUALLY DISTRIBUTES TO THE FESTIVAL BETWEEN 4% AND 7% OF ITS ASSETS, CALCULATED ON THE BASIS OF A MOVING AVERAGE OF RECENT ASSET BALANCES. DESIGNED TO SUPPLEMENT BUT NOT SUPPLANT THE OPERATING REVENUES OF THE FESTIVAL. OVER THE PAST EIGHTEEN YEARS, THE FUND HAS DISTRIBUTED APPROXIMATELY $29 MILLION TO THE FESTIVAL WITH THE PAYOUT FOR FISCAL YEAR 2021 TOTALING $1,447,951. THROUGH ITS SUSTAINING SUPPORT, THE ENDOWMENT FUND HELPS PROVIDE LONG-TERM FISCAL VIABILITY TO THE FESTIVAL, THUS ENABLING THE FESTIVAL TO CONTINUE TO PURSUE EXCELLENCE IN PRESENTING LIVE THEATRE TO AUDIENCES WITH RACIAL, SOCIO-ECONOMIC AND GENERATIONAL DIVERSITY.
DURING 2021 THE ENDOWMENT FUND CONTRIBUTED ADDITIONAL SUPPORT OF $776,885 TO THE OREGON SHAKESPEARE FESTIVAL ASSOCIATION FROM BOARD-DESIGNATED FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Johnson President | OfficerTrustee | 2 | $0 |
Philip Paroian Vice President | OfficerTrustee | 2 | $0 |
Sidney Cooper Secretary/treasurer | OfficerTrustee | 1 | $0 |
David Schmitz Osf Executive Director | Officer | 1 | $0 |
M'liss Moore Trustee | Trustee | 1 | $0 |
Rudd Johnson Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $270,147 |
| Investment income | $707,578 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $172,230 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,149,955 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,160 |
| Fees for services: Accounting | $5,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $90,531 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,678 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,580,084 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,173,816 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $281,017 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,600 |
| Investments—publicly traded securities | $27,020,813 |
| Investments—other securities | $3,526,699 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,000 |
| Total assets | $33,018,945 |
| Accounts payable and accrued expenses | $4,250 |
| Grants payable | $1,494,708 |
| Deferred revenue | $0 |
| 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 | $447,532 |
| Total liabilities | $1,946,490 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $31,072,455 |
Endowment Analysis
| Beg. Balance | $31,072,455 |
| Earnings | $9,641,851 |
| Admin Expense | $94,584 |
| Net Contributions | $269,165 |
| Grants | $2,224,836 |
| Ending Balance | $38,664,051 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Museum Of Flight Foundation Seattle, WA | $316,961,475 | $40,753,721 |
Fine Arts Museums Foundation San Francisco, CA | $293,998,421 | $1,528,655 |
California Center For The Arts Escondido Foundation Escondido, CA | $1,637,426 | $6,432,180 |
Screen Actors Guild - American Federation Of Television And Radio Los Angeles, CA | $32,891,873 | $7,217,007 |
Carmel Mission Foundation Inc Carmel, CA | $1,231,681 | $982,770 |
All Classical Public Media Inc Portland, OR | $12,996,411 | $4,875,278 |
Oregon Shakespearean Festival Endowment Fund Inc Ashland, OR | $33,018,945 | $1,149,955 |
Ford Theatre Foundation Hollywood, CA | $2,293,812 | $4,065,513 |
Henry Gallery Association Inc Seattle, WA | $28,956,119 | $4,211,330 |
Mccallum Theatre Foundation Inc Palm Desert, CA | $10,233,971 | $253,349 |
Wing Luke Memorial Foundation Seattle, WA | $11,076,869 | $11,490,156 |
California State Railroad Museum Foundation Inc Sacramento, CA | $11,474,601 | $3,874,416 |