Civic Intelligence

Broward Performing Arts Foundation Inc.

990 • Fiscal year 2021 • EIN 59-2657043

Oct 01, 2020 to Sep 30, 2021 • Filed on Apr 20, 2022

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

0.32x

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

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

80th percentile

1.11x

Higher debt load relative to revenue than 80% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

55th percentile

14%

Higher net margin than 55% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

41st percentile

$212,991

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

18th percentile

-0.8%

Faster asset growth than 18% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

6th percentile

-34%

Faster revenue growth than 6% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Assets

Flat

$26,498,750

Flat from 2021

Net Assets

Flat

$18,078,749

Flat from 2021

Liabilities

Flat

$8,420,001

Flat from 2021

Revenue

Flat

$7,581,704

Flat from 2021

Expenses

Flat

$6,494,387

Flat from 2021

Net Income

Flat

$1,087,317

Flat from 2021

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 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

2021

Assets$26,498,750
Liabilities$8,420,001
Net Assets$18,078,749

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 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

2021

Revenue$7,581,704
Expenses$6,494,387
Net Income$1,087,317
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Apr 20, 2022
Return Version
2020v4.0
Gross Receipts
$15,348,888
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 at the broward center for the performing arts and affiliated venues; presented in-person and virtual educational programming serving more than 160,000 students; and facilitated a fundraising campaign to help the broward center recover from the covid-19 pandemic.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$12,689,767$15,101,325▲ $2,411,558
Pledges and Grants Receivable$11,081,102$9,393,271▼ $1,687,831
Savings and Temporary Cash Investments$2,886,694$2,004,154▼ $882,540
Accounts Receivable$50,000--
Total Assets$26,707,563$26,498,750▼ $208,813
Liabilities
Other Liabilities$9,810,196$7,612,857▼ $2,197,339
Deferred Revenue$327,526$460,099▲ $132,573
Accounts Payable and Accrued Expenses$277,145$347,045▲ $69,900
Total Liabilities$10,414,867$8,420,001▼ $1,994,866
Net Assets / Fund Balance
Net Assets With Donor Restrictions$14,071,719$14,313,250▲ $241,531
Net Assets Without Donor Restrictions$2,220,977$3,765,499▲ $1,544,522
Total Net Assets Fund Balance$16,292,696$18,078,749▲ $1,786,053
Total Liabilities and Net Assets / Fund Balance$26,707,563$26,498,750▼ $208,813

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$12,689,667$387,000▲ $2,512,508$-487,950$15,101,225
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lisa KiteiPresidentFT$200,776$12,215$212,991
Revenue and Support

Revenue Composition

Contributions and Grants
$4,928,932
Program Service Revenue
$746,437
Investment Income
$1,814,034
Other Revenue
$92,301
All Other Contributions
$4,291,119
Change in Net Assets
$1,087,317

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$33,260Fair Market Value
Other Non Cash Contri Table1$29,702Fair Market Value
Other Non Cash Contri Table1$26,723Fair Market Value
Food Inventory1$5,528Fair Market Value
Total Noncash Contributions4$95,213-

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,581,704
Revenue Not Reported on Form 990
$698,979
Total Revenue per Audited Statements
$8,280,683
Total Revenue per Form 990
$7,581,704
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,806,659
Other Expenses$946,899
Salaries, Compensation, and Employee Benefits$740,829
Total Fundraising Expense$376,132
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$4,806,659--$4,806,659
Other Salaries and Wages$163,952$66,308$162,645$392,905
Current Officers, Directors, Trustees, and Key Employees$111,905$44,762$67,143$223,810
Other Employee Benefits$34,638$13,947$28,855$77,440
All Other Expenses$3,430$11,361$23,997$38,788
Pension Plan Contributions$14,743$5,936$12,280$32,959
Fees for Services Accounting-$18,000-$18,000
Other Expenses$10,437$14,971$14,742$14,971
Payroll Taxes$6,135$2,470$5,110$13,715
Total Functional Expenses$5,938,956$179,299$376,132$6,494,387

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,494,630
Expenses per Audited Statements$6,494,387
Total Expenses per Form 990$6,494,387
Expenses Not Reported on Form 990$243
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Performing Arts Center AuthorityFort Lauderdale, FL-General Support$4,638,087
Performing Arts Center AuthorityFort Lauderdale, FL-Education$127,922
Performing Arts Center AuthorityFort Lauderdale, FL-Programming$20,166
Performing Arts Center AuthorityFort Lauderdale, FL-Gardens Care & Maint$14,181
Performing Arts Center AuthorityFort Lauderdale, FL-Theater Maint/improv$6,303
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$51,681
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Special Event$20,000---
Total Events$20,000---
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$7,612,857
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

The vice president of development of the performing arts center authority (authority) serves as the president of the foundation. The compensation for this position is determined and paid by the authority based on compensation guidelines for the authority, which include regional and national compensation benchmarking to similar positions at major performing arts center throughout the united states. Compensation for this position is reviewed and evaluated by the foundation board.

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
2022-04-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Kitei
Formed
1985
Legal Domicile
Fl
Voting Board Members
40
Independent Board Members
40
Employees
7
Volunteers
550

Preparer

Firm
Robbins & Moroney Pa
Address
222 SE 10TH ST, 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. During the 2020-2021 fiscal year, the foundation responded to the covid-19 pandemic by facilitating a new campaign, the road to recovery fund, to help sustain the broward center's operations and programming until it could 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 3.5 million students to date. Through the student enrichment in the arts program, more than 130,000 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 200,000 individuals virtually during fiscal year 2021.

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IRS990/Form990PartVIISectionAGrp/PersonNm4ROBERT B LOCHRIE III
IRS990/Form990PartVIISectionAGrp/PersonNm5JOHN E ABDO
IRS990/Form990PartVIISectionAGrp/PersonNm6STEPHANIE AOUN
IRS990/Form990PartVIISectionAGrp/PersonNm7BONNIE BARNETT
IRS990/Form990PartVIISectionAGrp/PersonNm8RICHARD BERKOWITZ
IRS990/Form990PartVIISectionAGrp/PersonNm9ROBERT BRINKMAN
IRS990/Form990PartVIISectionAGrp/PersonNm10LORI CHEVY
IRS990/Form990PartVIISectionAGrp/PersonNm11ERIC GABRIELLE
IRS990/Form990PartVIISectionAGrp/PersonNm12NEIL GOLDBERG
IRS990/Form990PartVIISectionAGrp/PersonNm13PEARL GOODMAN
IRS990/Form990PartVIISectionAGrp/PersonNm14ROBERT HARRIGAN
IRS990/Form990PartVIISectionAGrp/PersonNm15ALAN C HOOPER
IRS990/Form990PartVIISectionAGrp/PersonNm16MICHELLE HOWLAND
IRS990/Form990PartVIISectionAGrp/PersonNm17ALICE LUCIA JACKSON
IRS990/Form990PartVIISectionAGrp/PersonNm18CAROL HARRISON KALAGHER
IRS990/Form990PartVIISectionAGrp/PersonNm19JAMES LABATE
IRS990/Form990PartVIISectionAGrp/PersonNm20MICHAEL LANDRY
IRS990/Form990PartVIISectionAGrp/PersonNm21RAY LEIGHTMAN
IRS990/Form990PartVIISectionAGrp/PersonNm22JARETT LEVAN
IRS990/Form990PartVIISectionAGrp/PersonNm23DOMINICK MINIACI
IRS990/Form990PartVIISectionAGrp/PersonNm24THOMAS R OLIVERI
IRS990/Form990PartVIISectionAGrp/PersonNm25JULIE PABST
IRS990/Form990PartVIISectionAGrp/PersonNm26CHARLES L PALMER
IRS990/Form990PartVIISectionAGrp/PersonNm27BEVERLY RAPHAEL
IRS990/Form990PartVIISectionAGrp/PersonNm28RAMON RODRIGUEZ
IRS990/Form990PartVIISectionAGrp/PersonNm29SHAWN SACKMAN
IRS990/Form990PartVIISectionAGrp/PersonNm30ANNE SCHERER
IRS990/Form990PartVIISectionAGrp/PersonNm31ALAN M SCHWARTZ MD
IRS990/Form990PartVIISectionAGrp/PersonNm32BARRY E SOMERSTEIN ESQ
IRS990/Form990PartVIISectionAGrp/PersonNm33KEN STILES
IRS990/Form990PartVIISectionAGrp/PersonNm34J KENNETH TATE
IRS990/Form990PartVIISectionAGrp/PersonNm35GEORGE TAYLOR
IRS990/Form990PartVIISectionAGrp/PersonNm36DOUGLAS VON ALLMEN
IRS990/Form990PartVIISectionAGrp/PersonNm37GARY WENDT
IRS990/Form990PartVIISectionAGrp/PersonNm38JAKE WURZAK
IRS990/Form990PartVIISectionAGrp/PersonNm39KURT ZIMMERMAN
IRS990/Form990PartVIISectionAGrp/PersonNm40LISA KITEI
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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
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
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/TitleTxt40PRESIDENT
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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
2021Detailed filing. Detailed filing data is available for this year.$26.5$8.42$18.1$7.58$6.49$1.09
2021Summary only. Only limited summary data is available for this year.$26.5$8.42$18.1$7.58$6.49$1.09
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$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