Lobero Theatre Foundation
- Assets
- $11.4m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 76
- Location
- Santa Barbara, CA
- Founding
- 12/1938
- Data as of
- 05/2022
- EIN
- 95-1831068
Organization Overview
Lobero Theatre Foundation is located in Santa Barbara, CA. The organization was established in 1938. 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 05/2022, Lobero Theatre Foundation employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lobero Theatre Foundation 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 05/2022, Lobero Theatre Foundation generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $3.7m during the year ending 05/2022. While expenses have increased by 3.5% 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 LOBERO THEATRE FOUNDATION IS ORGANIZED TO OPERATE AND MAINTAIN THE HISTORIC LOBERO THEATRE AS A PERFORMING ARTS CENTER AND CULTURAL ASSET TO THE COMMUNITY AND TO PRESENT HIGH QUALITY PRODUCTIONS IN MUSIC, DANCE AND THEATRE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING FREE OR REDUCED RATE USE OF STAGE FACILITIES BY UNIVERSITY STUDENTS AND OTHER NON-PROFIT ORGANIZATIONS
PRESENTATION OF CULTURAL EVENTS TO THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Asbell Executive Dir. | Officer | 40 | $184,402 |
Marianne Clark Fdn Administrator | 40 | $114,432 | |
Brandon Mowery Development Direct | 40 | $114,432 | |
Melissa Fassett Secretary | OfficerTrustee | 2 | $0 |
Steve Hayes President | OfficerTrustee | 2 | $0 |
Amy Macleod Past President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $37,500 |
| Related organizations | $0 |
| Government grants | $1,213,333 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,061,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,312,633 |
| Total Program Service Revenue | $1,784,038 |
| Investment income | $133,538 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$21,490 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,213,777 |
| 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. | $197,808 |
| Compensation of current officers, directors, key employees. | $65,936 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,281,570 |
| Pension plan accruals and contributions | $27,553 |
| Other employee benefits | $106,339 |
| Payroll taxes | $115,008 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,884 |
| Fees for services: Other | $0 |
| Advertising and promotion | $89,926 |
| Office expenses | $31,566 |
| Information technology | $143,810 |
| Royalties | $0 |
| Occupancy | $157,763 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,719 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $362,494 |
| Insurance | $36,286 |
| All other expenses | $352,485 |
| Total functional expenses | $3,728,091 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $382,041 |
| Savings and temporary cash investments | $151,852 |
| Pledges and grants receivable | $571,513 |
| Accounts receivable, net | $23,703 |
| 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 | $33,902 |
| Net Land, buildings, and equipment | $5,676,506 |
| Investments—publicly traded securities | $4,257,502 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $293,428 |
| Total assets | $11,390,447 |
| Accounts payable and accrued expenses | $211,106 |
| Grants payable | $0 |
| 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 | $353,113 |
| Total liabilities | $564,219 |
| Net assets without donor restrictions | $7,381,226 |
| Net assets with donor restrictions | $3,445,002 |
| 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 | $11,390,447 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lobero Theatre Foundation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Becton Family Foundation Tr Homosassa, FL PURPOSE: CONTRIBUTION TO GHOSTLIGHT SOCIETY | $10,000 |
Endowment Analysis
| Beg. Balance | $3,023,896 |
| Earnings | -$187,565 |
| Net Contributions | $811,056 |
| Other Expense | $124,475 |
| Ending Balance | $3,522,912 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Friends Of The Cultural Center Inc Palm Desert, CA | $48,047,897 | $20,407,526 |
The Smith Center For The Performing Arts Las Vegas, NV | $427,449,516 | $12,755,870 |
Luther Burbank Memorial Foundation Santa Rosa, CA | $31,726,314 | $16,161,291 |
Intersection For The Arts San Francisco, CA | $6,218,196 | $5,728,383 |
Santa Barbara Center For The Performing Arts Inc Santa Barbara, CA | $116,344,118 | $4,620,233 |
Lobero Theatre Foundation Santa Barbara, CA | $11,390,447 | $5,213,777 |
Paramount Theatre Of The Arts Inc Oakland, CA | $15,083,800 | $5,039,030 |
Irvine Barclay Theatre Operating Co Irvine, CA | $4,871,316 | $3,311,778 |
Mainly Mozart Inc San Diego, CA | $792,070 | $2,395,556 |
Gallo Center For The Arts Inc Modesto, CA | $40,396,474 | $2,412,473 |
San Francisco Performances Inc San Francisco, CA | $8,111,017 | $1,717,487 |
Community Arts Music Assn Of Santa Barbara Santa Barbara, CA | $8,681,324 | $1,742,239 |