Civic Intelligence

Wallis Annenberg Center for the Performing Arts

990 • Fiscal year 2015 • EIN 95-4467830

Sep 01, 2014 to Aug 31, 2015 • Filed on Jun 30, 2016

9390 North Santa Monica BlvdBeverly Hills, CA 90210

(310) 246-3800

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.16x

Higher debt load relative to assets than 33% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

76th percentile

1.24x

Higher debt load relative to revenue than 76% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Net Margin

16th percentile

-6.5%

Higher net margin than 16% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

48th percentile

$321,631

Higher top officer pay than 48% of similar nonprofits.

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

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Asset Growth

20th percentile

-3.5%

Faster asset growth than 20% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

2nd percentile

-71%

Faster revenue growth than 2% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Assets

Flat

$91,031,362

Flat from 2015

Net Assets

Flat

$76,593,935

Flat from 2015

Liabilities

Flat

$14,437,427

Flat from 2015

Revenue

Flat

$11,608,162

Flat from 2015

Expenses

Flat

$12,366,304

Flat from 2015

Net Income

Flat

-$758,142

Flat from 2015

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2011: $41,257,475Liabilities 2011: $1,195,801Net Assets 2011: $40,061,6742011Assets 2012: $49,082,514Liabilities 2012: $2,915,644Net Assets 2012: $46,166,8702012Assets 2013: $70,325,807Liabilities 2013: $22,195,845Net Assets 2013: $48,129,9622013Assets 2014: $94,341,452Liabilities 2014: $16,794,031Net Assets 2014: $77,547,4212014Assets 2015: $91,031,362Liabilities 2015: $14,437,427Net Assets 2015: $76,593,9352015Assets 2015: $91,031,362Liabilities 2015: $14,437,427Net Assets 2015: $76,593,9352015Assets 2016: $85,581,977Liabilities 2016: $12,176,709Net Assets 2016: $73,405,2682016Assets 2017: $81,190,076Liabilities 2017: $13,397,719Net Assets 2017: $67,792,3572017Assets 2018: $78,376,407Liabilities 2018: $14,582,278Net Assets 2018: $63,794,1292018Assets 2019: $79,027,799Liabilities 2019: $16,515,433Net Assets 2019: $62,512,3662019Assets 2020: $79,446,944Liabilities 2020: $18,278,996Net Assets 2020: $61,167,9482020Assets 2021: $86,738,826Liabilities 2021: $23,250,759Net Assets 2021: $63,488,0672021Assets 2022: $89,032,236Liabilities 2022: $22,801,597Net Assets 2022: $66,230,6392022Assets 2023: $86,265,501Liabilities 2023: $20,723,991Net Assets 2023: $65,541,5102023

Highlighted filing

2015

Assets$91,031,362
Liabilities$14,437,427
Net Assets$76,593,935

Operations Trend

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

$60M$40M$20M$0-$20MRevenue 2011: $2,664,146Expenses 2011: $1,208,750Net Income 2011: $1,455,3962011Revenue 2012: $8,210,529Expenses 2012: $2,089,360Net Income 2012: $6,121,1692012Revenue 2013: $4,233,118Expenses 2013: $2,382,856Net Income 2013: $1,850,2622013Revenue 2014: $40,070,392Expenses 2014: $11,030,142Net Income 2014: $29,040,2502014Revenue 2015: $11,608,162Expenses 2015: $12,366,304Net Income 2015: -$758,1422015Revenue 2015: $11,608,162Expenses 2015: $12,366,304Net Income 2015: -$758,1422015Revenue 2016: $9,452,117Expenses 2016: $12,652,494Net Income 2016: -$3,200,3772016Revenue 2017: $7,641,024Expenses 2017: $13,625,146Net Income 2017: -$5,984,1222017Revenue 2018: $8,885,970Expenses 2018: $13,134,002Net Income 2018: -$4,248,0322018Revenue 2019: $10,413,630Expenses 2019: $11,695,393Net Income 2019: -$1,281,7632019Revenue 2020: $9,540,743Expenses 2020: $10,885,161Net Income 2020: -$1,344,4182020Revenue 2021: $10,256,946Expenses 2021: $7,936,827Net Income 2021: $2,320,1192021Revenue 2022: $12,657,698Expenses 2022: $9,915,126Net Income 2022: $2,742,5722022Revenue 2023: $9,581,007Expenses 2023: $10,269,974Net Income 2023: -$688,9672023

Highlighted filing

2015

Revenue$11,608,162
Expenses$12,366,304
Net Income-$758,142
Jump To
Filing Snapshot
Filing Period
Sep 1, 2014 to Aug 31, 2015
Signed
Jun 30, 2016
Return Version
2014v6.0
Gross Receipts
$12,131,890
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$65,243,643$65,288,191▲ $44,548
Pledges and Grants Receivable$14,989,597$10,202,964▼ $4,786,633
Cash and Non-Interest-Bearing Accounts$527,947$3,195,688▲ $2,667,741
Land, Buildings, and Equipment, Net$362,253$630,818▲ $268,565
Prepaid Expenses and Deferred Charges$536,054$545,176▲ $9,122
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$94,341,452$91,031,362▼ $3,310,090
Other Assets Total$12,681,958$11,168,525▼ $1,513,433
Liabilities
Mortgage Notes Payable Secured by Investment Property$15,573,939$11,439,697▼ $4,134,242
Deferred Revenue$98,029$1,287,878▲ $1,189,849
Accounts Payable and Accrued Expenses$922,667$929,830▲ $7,163
Other Liabilities$199,396$780,022▲ $580,626
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$16,794,031$14,437,427▼ $2,356,604
Net Assets / Fund Balance
Unrestricted Net Assets$58,662,225$62,672,567▲ $4,010,342
Temporarily Rstr Net Assets$15,385,196$10,421,368▼ $4,963,828
Permanently Rstr Net Assets$3,500,000$3,500,000→ $0
Total Net Assets Fund Balance$77,547,421$76,593,935▼ $953,486
Total Liabilities and Net Assets / Fund Balance$94,341,452$91,031,362▼ $3,310,090

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$630,818$117,553-
Other Assets Org$7,123,747--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$3,895,599$51,141-$228,336$3,718,404
2013$3,744,538$354,297-$203,236$3,895,599
2012$3,621,972$122,566--$3,744,538
2011$3,365,099$272,846▼ $15,973-$3,621,972
2010$3,059,134$149,254▲ $156,711-$3,365,099
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lou MooreExecutive DirectorFT$140,558$181,073$321,631
Tania CamargoManaging DirectorFT$118,654$5,836$124,490
JAMES D'ASAROInterim Producing DirectorFT$109,615$11,337$120,952
Ricka FisherDevelopment DirectorFT$102,996$10,181$113,177
Patti WolffInterim Programming DirectorFT$96,442$5,761$102,203

Board Members and Trustees

NameTitle
Jerry MagninChairman
Arnold RosensteinVice Chair
Richard RosenzweigVice Chair
Vicki ReynoldsVice Chair
Ariela ShaniBoard Member
Arnon AdarBoard Member
Bram GoldsmithBoard Member
Bruce GoldsmithBoard Member
Carol GoldsmithBoard Member
Cinny KennardBoard Member
Debbie AllenBoard Member
Donna Ellman GarberBoard Member
Eunice DavidBoard Member
Fred HaymanBoard Member
Jacqueline AvantBoard Member
Jamie MccourtBoard Member
John BendheimBoard Member
Kris LevineBoard Member
Lauren LeichtmanBoard Member
Laurie KonheimBoard Member
Linda MayBoard Member
Luanne WellsBoard Member
Mark SelwynBoard Member
Meralee GoldmanBoard Member
Paul SelwynBoard Member
Sharon DavisBoard Member
Steve GhyselsBoard Member
Wallis AnnenbergBoard Member
Jonathan VictorAssist Secretary
Susan StraussAssist Secretary
Ronald D RosenSecretary
Les BiderTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Savant Productions INCArtists/performers3526 OCEAN VIEW BLVD, Glendale, CA 91208$350,013
Scenic HighlightsScenery Construction11759 SHELDON STREET, Sun Valley, CA 91352$114,415
Revenue and Support

Revenue Composition

Contributions and Grants
$7,812,209
Program Service Revenue
$2,841,990
Investment Income
$51,210
Other Revenue
$902,753
All Other Contributions
$7,812,209
Change in Net Assets
$-758,142

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$134,800Fair Market Value (FMV)
Total Noncash Contributions1$134,800-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$8,654,714
Salaries, Compensation, and Employee Benefits$3,711,590
Total Fundraising Expense$960,401
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$1,688,654$436,837$394,328$2,519,819
Other Salaries and Wages$1,707,490$401,296$320,048$2,428,834
All Other Expenses$1,784,913$420,477$130,623$2,336,013
Advertising$1,406,642--$1,406,642
Other Employee Benefits$507,097$47,861$27,803$582,761
Travel$537,815$9,961$5,159$552,935
Current Officers, Directors, Trustees, and Key Employees$237,449$73,314-$310,763
Fees for Services Other$267,325$23,601$18,581$309,507
Payroll Taxes$181,924$67,310$27,982$277,216
Interest$214,645$40,246$13,415$268,306
Office Expenses$150,435$50,764$8,407$209,606
Pension Plan Contributions$112,016--$112,016
Other Expenses$43,748$1,265$11,358$56,371
Depreciation Depletion$37,763$13,487$2,697$53,947
Fees for Services Legal-$39,599-$39,599
Fees for Services Accounting-$28,739-$28,739
Information Technology-$28,125-$28,125
Insurance-$5,606-$5,606
Conferences and Meetings$2,073--$2,073
Total Functional Expenses$9,717,415$1,688,488$960,401$12,366,304
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$559,561
Fundraising Direct Expenses$523,728
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Lunar New Year$495,301$122,901$477,511$-354,610
Into the Woods$64,260$5,200$46,218$-41,018
Total Events$559,561$128,101$759,040$-630,939
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Bram GoldsmithSee Part VSee Description BelowNo-

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Related Party Payable$780,022
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2 - Business or Family Relationship of Officers,

Directors, etc.: board member bram goldsmith and board member bruce goldsmith have a family relationship.

FORM 990, PART VI, LINE 11B - FORM 990 REVIEW PROCESS:

Form 990 is prepared by an independent CPA and reviewed and approved by Management and the Audit Committee. Upon final approval, a copy is made available to the full Board of Directors.

Form 990, Part VI, Line 12C - Explanation of Monitoring and Enforcement of

CONFLICTS: THE WALLIS "CONFLICT OF INTEREST POLICY" IS DISTRIBUTED TO ALL BOARD MEMBERS AT THE FIRST BOARD MEETING OF THE FISCAL YEAR. THEY RETURN A SIGNED ACKNOWLEDGMENT STATING THEY HAVE RECEIVED AND UNDERSTAND THE POLICY. DURING THE YEAR, IF A CONFLICT ARISES, THE ISSUE IS BROUGHT TO THE ATTENTION OF EITHER THE CHAIRMAN OR PRESIDENT. THE ISSUE IS VETTED BY THE EXECUTIVE COMMITTEE AND A MEMBER OF THE COMMITTEE IS APPOINTED TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR Arrangement. AFTER DUE DILIGENCE HAS BEEN EXERCISED, THE COMMITTEE WILL DECIDE, THROUGH A MAJORITY VOTE, IF THE RELATIONSHIP WILL BE ENTERED INTO BY THE WALLIS.

Form 990, Part VI, Line 15B - Compensation Review & Approval Process for

Officers & key employees: the board reviews and approves new compensation offerings (including salary and benefits) and any changes to compensation for the organization's executive director. In so doing, the board has done the following to ensure the compensation is reasonable: (1) review has been completed by an independent group, which includes board members (who receive no compensation from the organization); (2) the review uses relevant comparability data; and (3) compensation decisions are documented in official board meeting minutes. These procedures will be applied to all officers and key employees.

Form 990, Part VI, Line 19 - Other Organization Documents Publicly

Available: forms 990 and 1023 are available upon request. Form 990 also becomes available upon the internet at guidestar.org. Governing documents, conflict of interest policies, and financial statements are available to executive staff and the board of directors - upon request from the general public, the organization will provide access to these documents as required by law.

Filing and Contact Details

Filer

Filer Name
Wallis Annenberg Center for the Performing
EIN
95-4467830
In Care Of
% LINDA ROSS C/O WACPA
Phone
3102463800
Address
9390 NORTH SANTA MONICA BLVD, BEVERLY HILLS, CA 90210

Signing Officer

Name
Signing Officer
Title
Signing Officer
Phone
9164429100
Signed
2016-06-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rachel Fine
Formed
1994
Legal Domicile
CA
Voting Board Members
32
Independent Board Members
32
Employees
200
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
400 CAPITOL MALL SUITE 900, SACRAMENTO, CA 95814-4424
Preparer
Laura Wilder CPA
Phone
9164429100
Supplemental Narrative

Additional Explanations

FORM 990, PART I & PART III, LINE 1 - ORGANIZATION MISSION:

The Wallis Annenberg Center for the Performing Arts (The Wallis) is to create, present and celebrate unique performing arts events and educational programs that reflect the rich cultural diversity of our community. Located in Beverly Hills, California, The Wallis presents an annual subscription season of theater, music, dance, speakers, and a range of education and outreach programs that make the performing arts accessible to all community members, and cultivates the next generation of artists and audiences. The Wallis was incorporated as a not-for-profit 501(c)(3) organization in October 1994 to oversee the transformation of the historic Beverly Hills Post Office into a cultural center. Construction was completed in 2012 and The Wallis began public performances in 2013.

FORM 990, PART III, LINE 2 - SIGNIFICANT PROGRAM SERVICES:

The Wallis' first full season of public performances at the Goldsmith and Lovelace theaters welcomed 44,000 ticket buyers and consisted of plays and musicals from renowned local, national and international theaters; classical orchestral and chamber music including solo performances, jazz and a cabaret series; an international roster of award-winning and eclectic dance ensembles; and a discussion series on culture, literature and politics. Highlights of the season included music from Wynton Marsalis, pianist Igor Levit, and Patti LuPone; a co-production of the musical SPRING AWAKENING with Deaf West Theatre (performed simultaneously in English and American Sign Language); as well as DanceBrazil and Les Ballets Jazz de Montral. The Wallis venues are fully accessible with elevators to all seating levels, accessible restrooms and parking, and hearing loop technology for individuals who use hearing aids or cochlear implant devices.

Form 990 Part IX Line 24 - Other Expenses

Description:all other total expenses:2336013 program services:1784913 management and general:420477 fundraising:130623

Financial Statement Notes

SCHEDULE D, PART V, LINE 4 - INTENDED USES OF ENDOWMENT FUND:

The wallis has been notified it will be the recipient of proceeds from assets held in trust within permanent endowments of two california philanthropic foundations. The wallis has no say in the return objectives, risk parameters, or investment strategies of these endowments held in trust. Earnings from these endowment funds are committed to the operation and maintenance of the wallis, giving the wallis access to future proceeds of 5-10% of the net assets of the endowment annually, so long as the endowment balances maintained in permanently restricted net assets are not reduced below the lower of the combined initial balance of $3,500,000. The theater and will be included in temporarily restricted net assets until the annenberg is an operating performing arts and cultural facility.

Schedule D, Part X, Line 1

The Wallis is a not-for-profit organization exempt from income taxes under Section 501(c)(3)of the Internal Revenue Code ("IRC") and Section 23101(d) of the Revenue Taxation Code of California and is a publicly supported organization as described in Section 509(a) of the IRC. The Wallis has no provision for income tax included in the accompanying consolidated financial statements. The Wallis has no unrecognized tax benefits at August 31, 2015. The Walliss Federal and state income tax returns prior to fiscal year 2012 and 2011, respectively, are closed. Management continually evaluates expiring statues of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings.

Schedule D, Part III, Line 4

Emmanuel fillion's exaltation was specifically commissioned and genuinely handcrafted to celebrate the opening of wallis annenberg center for the performing arts. The distinctive work of art uniquely represents the expressive spirit of the performing arts by paying homage to the world renowned dancer and choreographer, martha graham. The scuplture, is on permanent display outdoors in our serene sculpture garden.

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$86.3$20.7$65.5$9.58$10.3$0.69
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$89.0$22.8$66.2$12.7$9.92$2.74
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$86.7$23.3$63.5$10.3$7.94$2.32
2020Summary only. Only limited summary data is available for this year.$79.4$18.3$61.2$9.54$10.9$1.34
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$79.0$16.5$62.5$10.4$11.7$1.28
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$78.4$14.6$63.8$8.89$13.1$4.25
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$81.2$13.4$67.8$7.64$13.6$5.98
2016Detailed filing. Detailed filing data is available for this year.$85.6$12.2$73.4$9.45$12.7$3.20
2015Detailed filing. Detailed filing data is available for this year.$91.0$14.4$76.6$11.6$12.4$0.76
2015Summary only. Only limited summary data is available for this year.$91.0$14.4$76.6$11.6$12.4$0.76
2014Detailed filing. Detailed filing data is available for this year.$94.3$16.8$77.5$40.1$11.0$29.0
2013Summary only. Only limited summary data is available for this year.$70.3$22.2$48.1$4.23$2.38$1.85
2012Summary only. Only limited summary data is available for this year.$49.1$2.92$46.2$8.21$2.09$6.12
2011Summary only. Only limited summary data is available for this year.$41.3$1.20$40.1$2.66$1.21$1.46