Civic Intelligence

Broward Performing Arts Foundation Inc.

990 • Fiscal year 2020 • EIN 59-2657043

Oct 01, 2019 to Sep 30, 2020 • Filed on Apr 15, 2021

201 SW Fifth AvenueFort Lauderdale, FL 33312

(954) 468-3298

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

61st percentile

0.39x

Higher debt load relative to assets than 61% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

74th percentile

0.90x

Higher debt load relative to revenue than 74% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

59th percentile

7.1%

Higher net margin than 59% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

54th percentile

$263,441

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

4th percentile

-12%

Faster asset growth than 4% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

15th percentile

-23%

Faster revenue growth than 15% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Assets

Down

$26,707,563

Down $3,788,613 (-12%) from 2019

Net Assets

Up

$16,292,696

Up $1,789,109 (+12%) from 2019

Liabilities

Down

$10,414,867

Down $5,577,722 (-35%) from 2019

Revenue

Down

$11,523,677

Down $3,512,571 (-23%) from 2019

Expenses

Down

$10,704,170

Down $3,604,915 (-25%) from 2019

Net Income

Up

$819,507

Up $92,344 (+13%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2011: $16,797,769Liabilities 2011: $45,190Net Assets 2011: $16,752,5792011Assets 2012: $25,749,753Liabilities 2012: $3,370,578Net Assets 2012: $22,379,1752012Assets 2013: $20,878,590Liabilities 2013: $2,096,867Net Assets 2013: $18,781,7232013Assets 2014: $20,486,706Liabilities 2014: $401,323Net Assets 2014: $20,085,3832014Assets 2015: $18,997,990Liabilities 2015: $8,494,205Net Assets 2015: $10,503,7852015Assets 2016: $17,984,716Liabilities 2016: $6,380,808Net Assets 2016: $11,603,9082016Assets 2017: $17,299,260Liabilities 2017: $4,153,500Net Assets 2017: $13,145,7602017Assets 2018: $25,262,115Liabilities 2018: $11,368,144Net Assets 2018: $13,893,9712018Assets 2019: $30,496,176Liabilities 2019: $15,992,589Net Assets 2019: $14,503,5872019Assets 2020: $26,707,563Liabilities 2020: $10,414,867Net Assets 2020: $16,292,6962020Assets 2021: $26,498,750Liabilities 2021: $8,420,001Net Assets 2021: $18,078,7492021Assets 2022: $22,267,625Liabilities 2022: $6,411,175Net Assets 2022: $15,856,4502022Assets 2023: $24,656,140Liabilities 2023: $5,011,260Net Assets 2023: $19,644,8802023Assets 2024: $30,477,303Liabilities 2024: $4,291,994Net Assets 2024: $26,185,3092024

Highlighted filing

2020

Assets$26,707,563
Liabilities$10,414,867
Net Assets$16,292,696

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MRevenue 2011: $14,727,872Expenses 2011: $8,955,715Net Income 2011: $5,772,1572011Revenue 2012: $15,749,686Expenses 2012: $10,943,895Net Income 2012: $4,805,7912012Revenue 2013: $10,160,126Expenses 2013: $13,462,671Net Income 2013: -$3,302,5452013Revenue 2014: $11,804,547Expenses 2014: $10,505,354Net Income 2014: $1,299,1932014Revenue 2015: $10,131,041Expenses 2015: $8,868,131Net Income 2015: $1,262,9102015Revenue 2016: $11,405,431Expenses 2016: $11,207,399Net Income 2016: $198,0322016Revenue 2017: $15,048,878Expenses 2017: $14,427,229Net Income 2017: $621,6492017Revenue 2018: $15,349,841Expenses 2018: $13,671,134Net Income 2018: $1,678,7072018Revenue 2019: $15,036,248Expenses 2019: $14,309,085Net Income 2019: $727,1632019Revenue 2020: $11,523,677Expenses 2020: $10,704,170Net Income 2020: $819,5072020Revenue 2021: $7,581,704Expenses 2021: $6,494,387Net Income 2021: $1,087,3172021Revenue 2022: $6,295,369Expenses 2022: $5,290,922Net Income 2022: $1,004,4472022Revenue 2023: $8,345,158Expenses 2023: $6,083,366Net Income 2023: $2,261,7922023Revenue 2024: $11,943,994Expenses 2024: $8,380,667Net Income 2024: $3,563,3272024

Highlighted filing

2020

Revenue$11,523,677
Expenses$10,704,170
Net Income$819,507
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Apr 15, 2021
Return Version
2019v5.0
Gross Receipts
$19,315,234
Mission and Program Overview

Mission

The broward performing arts foundation, inc.'s mission is to sustain, develop and secure the future of the performing arts in broward county, florida, primarily by providing support for the programming, educational activities, operations and capital development of the broward center for the performing arts.

The broward performing arts foundation presented high-quality artistic and cultural programming, including concerts, theater, dance and more, at the broward center for the performing arts and affiliated venues; presented in-person and virtual educational programming serving more than 100,000 students; and launched a fundraising campaign to help the broward center recover from the covid-19 pandemic.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$11,886,012$12,689,767▲ $803,755
Pledges and Grants Receivable$9,956,477$11,081,102▲ $1,124,625
Savings and Temporary Cash Investments$8,653,687$2,886,694▼ $5,766,993
Accounts Receivable-$50,000-
Total Assets$30,496,176$26,707,563▼ $3,788,613
Liabilities
Other Liabilities$15,548,039$9,810,196▼ $5,737,843
Deferred Revenue$338,175$327,526▼ $10,649
Accounts Payable and Accrued Expenses$106,375$277,145▲ $170,770
Total Liabilities$15,992,589$10,414,867▼ $5,577,722
Net Assets / Fund Balance
Net Assets With Donor Restrictions$12,685,726$14,071,719▲ $1,385,993
Net Assets Without Donor Restrictions$1,817,861$2,220,977▲ $403,116
Total Net Assets Fund Balance$14,503,587$16,292,696▲ $1,789,109
Total Liabilities and Net Assets / Fund Balance$30,496,176$26,707,563▼ $3,788,613

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$11,885,912$171,057▲ $1,097,284$-464,586$12,689,667
2018$11,820,455$60,000▲ $453,144$-447,687$11,885,912
2017$11,363,166$74,250▲ $812,039$-429,000$11,820,455
2016$10,328,084$178,269▲ $1,211,996$-355,183$11,363,166
2015$9,611,930$154,145▲ $951,109$-389,100$10,328,084
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lisa KiteiPresidentFT$248,410$15,031$263,441
Judith CarneyDirector of DeveFT$118,437$7,195$125,632
Peter NeirouzDirdvlpmt&meFT$101,402$6,151$107,553
Revenue and Support

Revenue Composition

Contributions and Grants
$5,386,307
Program Service Revenue
$5,795,400
Investment Income
$129,639
Other Revenue
$212,331
All Other Contributions
$3,610,509
Change in Net Assets
$819,507

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$344,698Fair Market Value
Other Non Cash Contri Table1$77,496Fair Market Value
Food Inventory1$57,856Fair Market Value
Other Non Cash Contri Table1$49,593Fair Market Value
Other Non Cash Contri Table1$43,052Fair Market Value
Total Noncash Contributions5$572,695-

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,523,677
Revenue Not Reported on Form 990
$979,594
Total Revenue per Audited Statements
$12,503,271
Total Revenue per Form 990
$11,523,677
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,512,732
Grants and Similar Amounts Paid$3,391,553
Salaries, Compensation, and Employee Benefits$799,885
Total Fundraising Expense$684,660
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,391,553--$3,391,553
Other Salaries and Wages$182,868$71,786$202,349$457,003
Current Officers, Directors, Trustees, and Key Employees$84,067$42,033$84,067$210,167
All Other Expenses$1,621$74,785$64,445$140,851
Other Employee Benefits$31,677$13,507$33,989$79,173
Other Expenses$28,928$813$28,116$57,857
Pension Plan Contributions$15,373$6,555$16,495$38,423
Fees for Services Accounting-$19,500-$19,500
Payroll Taxes$6,049$2,579$6,491$15,119
Total Functional Expenses$9,774,372$245,138$684,660$10,704,170

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$10,714,162
Expenses per Audited Statements$10,704,170
Total Expenses per Form 990$10,704,170
Expenses Not Reported on Form 990$9,992
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Performing Arts Center AuthorityFort Lauderdale, FL-General Support$3,230,653
Performing Arts Center AuthorityFort Lauderdale, FL-Education$121,991
Performing Arts Center AuthorityFort Lauderdale, FL-Programming$19,250
Performing Arts Center AuthorityFort Lauderdale, FL-Gardens Care & Maint$13,618
Performing Arts Center AuthorityFort Lauderdale, FL-Theater Maint/improv$6,041
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$135,400
Fundraising Gross Income$135,400
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Special Event$926,094$135,400$135,400$0
Total Events$926,094$135,400$135,400-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Agency Payable$9,810,196
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

An electronic version of form 990 is sent to the executive committee of the board of directors for their review prior to submission, approved at their committee meeting and subsequently sent electronically to all board members.

Form 990, Page 6, Part VI, Line 12C

Officers, directors, trustees and key employees annually review and sign the organization's conflict of interest policy. Material organizational purchases are reviewed for potential conflict of interest as part of the purchasing procedures.

Form 990, Page 6, Part VI, Line 15A

A national survey of comparable organizations and employees is researched and presented to the executive committee of the board of directors for review, discussion and approval.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Broward Performing Arts Foundation
EIN
59-2657043
Phone
9544683298
Address
201 SW FIFTH AVENUE, FORT LAUDERDALE, FL 33312

Signing Officer

Name
Lisa Kitei
Title
President
Phone
9544683298
Signed
2021-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Kitei
Formed
1985
Legal Domicile
Fl
Voting Board Members
41
Independent Board Members
41
Employees
8
Volunteers
1,000

Preparer

Firm
Robbins & Moroney Pa
Address
222 SE 10TH STREET, FORT LAUDERDALE, FL 33316
Preparer
Daniel Moroney
Phone
9544673100
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The broward performing arts foundation, inc.'s mission is to sustain, develop and secure the future of the performing arts in broward county, florida, primarily by providing support for the programming, educational activities, operations and capital development of the broward center for the performing arts.

Form 990, Page 2, Part III, Line 4A

The broward performing arts foundation presents high-quality artistic and cultural programming, including musical performances spanning a wide range of genres, theater, dance, comedy and more, at the broward center for the performing arts and its affiliated venues, parker playhouse, rose and alfred miniaci performing arts center and aventura arts and cultural center. In addition to supporting programming, the foundation raises capital funds to sustain the venues and recently completed two capital campaigns: the 60-million encore capital campaign to expand, renovate and revitalize the broward center and the 30-million campaign for the parker to restore parker playhouse. In 2020, the foundation responded to the covid-19 pandemic by launching a new campaign, the road to recovery fund, to help sustain the broward center's operations and programming until it can welcome the public back to its theaters again.

Form 990, Page 2, Part III, Line 4B

The broward performing arts foundation presents a wide variety of educational programming at the broward center, which constitutes the largest free arts-in-education program in the country and has served more than 3.4 million students to date. Through the student enrichment in the arts program, more than 100,000 public school students each year attend educational and cultural performances at the broward center and its affiliated venues free of charge and participate in corresponding curriculum-based activities that help extend the learning experience beyond the theater seats. The reading readiness through the theater program brings more than 3,000 at-risk pre-k students and their parents each year to see live literature-based performances together at broward center venues. The broward performing arts foundation is also a recognized leader in presenting "sensory-friendly" theatrical performances aimed at increasing access to and engagement with the arts for individuals with developmental disabilities, particularly those on the autism spectrum or with sensory processing disorders. Following closure of broward center venues in march 2020 due to the covid-19 pandemic, the broward performing arts foundation was able to transition much of its education and accessibility programming to online platforms, reaching more than 66,000 viewers virtually through the end of fiscal year 2020.

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IRS990/Form990PartVIISectionAGrp/PersonNm5JOHN E ABDO
IRS990/Form990PartVIISectionAGrp/PersonNm6BEVERLY RAPHAEL ALTMAN
IRS990/Form990PartVIISectionAGrp/PersonNm7JOSEPH C AMATURO
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IRS990/Form990PartVIISectionAGrp/PersonNm9RICHARD BERKOWITZ
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IRS990/Form990PartVIISectionAGrp/PersonNm14NEIL GOLDBERG
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IRS990/Form990PartVIISectionAGrp/PersonNm19ALICE LUCIA JACKSON
IRS990/Form990PartVIISectionAGrp/PersonNm20CAROL HARRISON KALAGHER
IRS990/Form990PartVIISectionAGrp/PersonNm21JAMES LABATE
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IRS990/Form990PartVIISectionAGrp/PersonNm26THOMAS R OLIVERI
IRS990/Form990PartVIISectionAGrp/PersonNm27JULIE PABST
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IRS990/Form990PartVIISectionAGrp/PersonNm38GARY WENDT
IRS990/Form990PartVIISectionAGrp/PersonNm39JAKE WURZAK
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IRS990/Form990PartVIISectionAGrp/PersonNm41LISA KITEI
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IRS990/Form990PartVIISectionAGrp/PersonNm43PETER NEIROUZ
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4IMMEDIATE PA
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt32DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt33DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt34DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt35DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt36DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt37DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt38DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt39DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt40DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt41PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt42DIR. OF DEVE
IRS990/Form990PartVIISectionAGrp/TitleTxt43DIRDVLPMT&ME
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.5$4.29$26.2$11.9$8.38$3.56
2023Summary only. Only limited summary data is available for this year.$24.7$5.01$19.6$8.35$6.08$2.26
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.3$6.41$15.9$6.30$5.29$1.00
2021Summary only. Only limited summary data is available for this year.$26.5$8.42$18.1$7.58$6.49$1.09
2020Detailed filing. Detailed filing data is available for this year.$26.7$10.4$16.3$11.5$10.7$0.82
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.5$16.0$14.5$15.0$14.3$0.73
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.3$11.4$13.9$15.3$13.7$1.68
2017Summary only. Only limited summary data is available for this year.$17.3$4.15$13.1$15.0$14.4$0.62
2016Summary only. Only limited summary data is available for this year.$18.0$6.38$11.6$11.4$11.2$0.20
2015Summary only. Only limited summary data is available for this year.$19.0$8.49$10.5$10.1$8.87$1.26
2014Summary only. Only limited summary data is available for this year.$20.5$0.40$20.1$11.8$10.5$1.30
2013Summary only. Only limited summary data is available for this year.$20.9$2.10$18.8$10.2$13.5$3.30
2012Summary only. Only limited summary data is available for this year.$25.7$3.37$22.4$15.7$10.9$4.81
2011Summary only. Only limited summary data is available for this year.$16.8$0.05$16.8$14.7$8.96$5.77