Lobero Theatre Foundation
- Assets
- $10.2m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 76
- Location
- Santa Barbara, CA
- Founding
- 12/1938
- Data as of
- 05/2021
- 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 05/2021, Lobero Theatre Foundation generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $2.0m during the year ending 05/2021. As we would expect to see with falling revenues, expenses have declined by (5.1%) per year over the past 7 years. 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
2021
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 | |
Brett Hodges Director | Trustee | 2 | $0 |
Amy Macleod Past President | OfficerTrustee | 2 | $0 |
Jeff Devine Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,707,037 |
| Investment income | $52,604 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $47,485 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,936,068 |
| 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. | $161,094 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $677,081 |
| Pension plan accruals and contributions | $3,008 |
| Other employee benefits | $98,311 |
| Payroll taxes | $66,465 |
| 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 | $16,170 |
| Fees for services: Other | $0 |
| Advertising and promotion | $47,237 |
| Office expenses | $5,725 |
| Information technology | $84,396 |
| Royalties | $0 |
| Occupancy | $121,576 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,106 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $368,627 |
| Insurance | $31,842 |
| All other expenses | $0 |
| Total functional expenses | $2,026,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $393,186 |
| Savings and temporary cash investments | $51,823 |
| Pledges and grants receivable | $210,748 |
| Accounts receivable, net | $15,629 |
| 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 | $31,980 |
| Investments—publicly traded securities | $3,238,419 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $313,487 |
| Total assets | $10,231,846 |
| Accounts payable and accrued expenses | $240,284 |
| 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 | $315,989 |
| Total liabilities | $556,273 |
| 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 | $9,675,573 |