Civic Intelligence

Broward Performing Arts Foundation Inc.

990 • Fiscal year 2024 • EIN 59-2657043

Oct 01, 2023 to Sep 30, 2024 • Filed on Jun 18, 2025

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

41st percentile

0.14x

Higher debt load relative to assets than 41% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

56th percentile

0.36x

Higher debt load relative to revenue than 56% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

82nd percentile

30%

Higher net margin than 82% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

59th percentile

$298,928

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

86th percentile

24%

Faster asset growth than 86% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

84th percentile

43%

Faster revenue growth than 84% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$30,477,303

Up $5,821,163 (+24%) from 2023

Net Assets

Up

$26,185,309

Up $6,540,429 (+33%) from 2023

Liabilities

Down

$4,291,994

Down $719,266 (-14%) from 2023

Revenue

Up

$11,943,994

Up $3,598,836 (+43%) from 2023

Expenses

Up

$8,380,667

Up $2,297,301 (+38%) from 2023

Net Income

Up

$3,563,327

Up $1,301,535 (+58%) from 2023

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

2024

Assets$30,477,303
Liabilities$4,291,994
Net Assets$26,185,309

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

2024

Revenue$11,943,994
Expenses$8,380,667
Net Income$3,563,327
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Jun 18, 2025
Return Version
2023v6.0
Gross Receipts
$20,322,388
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 supported a wide variety of high- quality artistic and cultural programming, including concerts, theater, dance, comedy and more, at the broward center for the performing arts and the parker. More than just performances, the foundation had a far-reaching impact on the community through its support of the center's educational programs that served more than 100,000 students and outreach activities that aimed to make the arts more accessible for south florida's diverse audiences.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$14,169,343$17,472,380▲ $3,303,037
Pledges and Grants Receivable$8,451,255$10,420,943▲ $1,969,688
Savings and Temporary Cash Investments$2,035,542$2,530,680▲ $495,138
Accounts Receivable-$53,300-
Total Assets$24,656,140$30,477,303▲ $5,821,163
Liabilities
Other Liabilities$4,270,939$3,275,102▼ $995,837
Deferred Revenue$413,950$659,236▲ $245,286
Accounts Payable and Accrued Expenses$326,371$357,656▲ $31,285
Total Liabilities$5,011,260$4,291,994▼ $719,266
Net Assets / Fund Balance
Net Assets With Donor Restrictions$17,232,607$21,739,697▲ $4,507,090
Net Assets Without Donor Restrictions$2,412,273$4,445,612▲ $2,033,339
Total Net Assets Fund Balance$19,644,880$26,185,309▲ $6,540,429
Total Liabilities and Net Assets / Fund Balance$24,656,140$30,477,303▲ $5,821,163

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$13,656,283$419,000▲ $3,426,150$-569,462$16,931,971
2022$12,134,177$390,088▲ $1,682,993$-550,975$13,656,283
2021$15,101,225$285,000▼ $2,716,048$-536,000$12,134,177
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lisa KiteiPresidentFT$273,324$25,604$298,928
Peter W NeirouzDirector of DeveFT$166,783$20,494$187,277
Peter W NeirouzDirector of Development-$166,783$20,494$187,277
Judith CarneyDirector of DeveFT$129,209$16,529$145,738
Revenue and Support

Revenue Composition

Contributions and Grants
$11,462,907
Program Service Revenue
$0
Investment Income
$481,087
Other Revenue
$0
All Other Contributions
$9,355,046
Change in Net Assets
$3,563,327

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$866,209Fair Market Value
Food Inventory1$270,519Fair Market Value
Other Non Cash Contri Table1$152,290Fair Market Value
Other Non Cash Contri Table1$123,580Fair Market Value
Total Noncash Contributions4$1,412,598-

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,943,994
Revenue Not Reported on Form 990
$2,981,001
Total Revenue per Audited Statements
$14,924,995
Total Revenue per Form 990
$11,943,994
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$6,070,601
Total Fundraising Expense$1,305,804
Salaries, Compensation, and Employee Benefits$1,218,186
Other Expenses$1,091,880
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$6,070,601--$6,070,601
Other Salaries and Wages$267,849$81,626$323,124$672,599
Current Officers, Directors, Trustees, and Key Employees$182,267$72,907$109,360$364,534
All Other Expenses$2,843$60,080$53,105$116,028
Other Employee Benefits$45,322$15,558$43,547$104,427
Pension Plan Contributions$24,559$8,432$23,597$56,588
Other Expenses$66,889$11,983$53,099$53,099
Payroll Taxes$8,696$2,986$8,356$20,038
Fees for Services Accounting-$20,000-$20,000
Total Functional Expenses$6,801,291$273,572$1,305,804$8,380,667

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,384,566
Expenses per Audited Statements$8,380,667
Total Expenses per Form 990$8,380,667
Expenses Not Reported on Form 990$3,899
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Performing Arts Center AuthorityFort Lauderdale, FL-General Support$5,861,632
Performing Arts Center AuthorityFort Lauderdale, FL-Education$161,140
Performing Arts Center AuthorityFort Lauderdale, FL-Programming$25,072
Performing Arts Center AuthorityFort Lauderdale, FL-Gardens Care & Maint$15,745
Performing Arts Center AuthorityFort Lauderdale, FL-Theater Maint/improv$7,012
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$386,265
Fundraising Gross Income$386,265
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Special Event$993,975$386,265$386,265$0
Total Events$993,975$386,265$386,265-
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$3,275,102
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 centers throughout the united states.

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
2025-06-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Kitei
Formed
1985
Legal Domicile
Fl
Voting Board Members
42
Independent Board Members
42
Employees
8
Volunteers
630

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 supports 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 venue, the parker. 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. The foundation also maintains an endowment fund designed to provide a reliable source of income in perpetuity to support mission-driven activities. The broward performing arts foundation supports 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 3.7 million students to date. Through the student enrichment through the arts (seas) program, more than 100,000 public school k-12 students each year have the opportunity to 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 families each year to see live literature-based performances together at broward center venues. A leader in arts accessibility, the center has also been recognized for the impact of its "sensory-inclusive" theatrical performances, classes and other programming aimed at increasing access to and engagement with the arts for individuals with developmental disabilities.

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IRS990/Desc0THE BROWARD PERFORMING ARTS FOUNDATION SUPPORTS 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 VENUE, THE PARKER. 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. THE FOUNDATION ALSO MAINTAINS AN ENDOWMENT FUND DESIGNED TO PROVIDE A RELIABLE SOURCE OF INCOME IN PERPETUITY TO SUPPORT MISSION-DRIVEN ACTIVITIES. THE BROWARD PERFORMING ARTS FOUNDATION SUPPORTS 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 3.7 MILLION STUDENTS TO DATE. THROUGH THE STUDENT ENRICHMENT THROUGH THE ARTS (SEAS) PROGRAM, MORE THAN 100,000 PUBLIC SCHOOL K-12 STUDENTS EACH YEAR HAVE THE OPPORTUNITY TO 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 FAMILIES EACH YEAR TO SEE LIVE LITERATURE-BASED PERFORMANCES TOGETHER AT BROWARD CENTER VENUES. A LEADER IN ARTS ACCESSIBILITY, THE CENTER HAS ALSO BEEN RECOGNIZED FOR THE IMPACT OF ITS "SENSORY-INCLUSIVE" THEATRICAL PERFORMANCES, CLASSES AND OTHER PROGRAMMING AIMED AT INCREASING ACCESS TO AND ENGAGEMENT WITH THE ARTS FOR INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$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
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