Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $324,992

• 1d · Related organizations

  $1,104,553

• 1f · All other contributions, gifts and grants

  $9,946,111

• 1g · Noncash contributions included above

  $40,126

• 2a · Program service revenue: Production program

  total $22,904,929 · related or exempt $22,904,929

• 2b · Program service revenue: Hobby Center usage fees

  total $7,934,854 · related or exempt $7,934,854

• 2c · Program service revenue: Programming & Education Revenue

  total $528,768 · related or exempt $528,768

• 2d · Program service revenue: Patron donor benefits

  total $122,627 · related or exempt $122,627

• 3 · Investment income

  total $681,288 · excluded $681,288

• 6a · Gross rents

  real property $1,845,227

• 6b · Less rental expenses

  real property $1,618,110

• 6c · Rental income or loss

  real property $227,117

• 6d · Net rental income or loss

  total $227,117 · excluded $227,117

• 7a · Gross sales of assets other than inventory

  securities $10,294,339

• 7b · Less cost or other basis and sales expenses

  securities $7,790,919

• 7c · Gain or loss

  securities $2,503,420

• 7d · Net gain or loss

  total $2,503,420 · excluded $2,503,420

• 8a · Fundraising events: gross income

  $27,000

• 8a · Fundraising events: contributions included on line 1c

  $324,992

• 8b · Fundraising events: direct expenses

  $116,170

• 8c · Net income from fundraising events

  total -$89,170 · excluded -$89,170

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $799,775 · program services $254,411 · management and general $443,600 · fundraising $101,764

• 7 · Other salaries and wages

  total $4,159,175 · program services $3,049,900 · management and general $927,078 · fundraising $182,197

• 8 · Pension plan contributions

  total $208,674 · program services $155,008 · management and general $45,224 · fundraising $8,442

• 9 · Other employee benefits

  total $696,435 · program services $483,419 · management and general $177,521 · fundraising $35,495

• 10 · Payroll taxes

  total $304,921 · program services $217,158 · management and general $87,763

• 11b · Fees: legal

  total $41,366 · management and general $41,366

• 11c · Fees: accounting

  total $49,703 · management and general $49,703

• 11f · Fees: investment management

  total $88,213 · management and general $88,213

• 11g · Fees: other

  total $2,548,989 · program services $2,143,042 · management and general $137,859 · fundraising $268,088

• 12 · Advertising and promotion

  total $1,301,199 · management and general $1,286,042 · fundraising $15,157

• 13 · Office expenses

  total $477,600 · program services $257,110 · management and general $212,103 · fundraising $8,387

• 14 · Information technology

  total $501,680 · program services $445,788 · management and general $51,512 · fundraising $4,380

• 16 · Occupancy

  total $1,089,236 · program services $1,044,748 · management and general $33,364 · fundraising $11,124

• 17 · Travel

  total $309,757 · program services $70,763 · management and general $59,571 · fundraising $179,423

• 19 · Conferences, conventions and meetings

  total $71,671 · program services $52,890 · management and general $15,419 · fundraising $3,362

• 20 · Interest

  total $102,912 · management and general $102,912

• 22 · Depreciation, depletion and amortization

  total $2,297,021 · program services $2,210,318 · management and general $65,027 · fundraising $21,676

• 23 · Insurance

  total $830,613 · program services $830,613

• 24a · Other expenses: Performance fees

  total $17,611,718 · program services $17,377,341 · management and general $194,676 · fundraising $39,701

• 24b · Other expenses: Production expenses

  total $2,107,644 · program services $2,043,804 · management and general $45,753 · fundraising $18,087

• 24c · Other expenses: Repairs & maintenance

  total $381,447 · program services $381,447

• 24d · Other expenses: Educational events

  total $313,668 · program services $313,668

• 24e · All other expenses

  total $426,015 · program services $325,122 · management and general $57,008 · fundraising $43,885

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,831 · end of year $110,112

• 2 · Savings and temporary cash investments

  beginning of year $5,746,887 · end of year $9,916,387

• 3 · Pledges and grants receivable

  beginning of year $4,921,380 · end of year $5,228,250

• 4 · Accounts receivable

  beginning of year $282,272 · end of year $928,719

• 9 · Prepaid expenses and deferred charges

  beginning of year $806,250 · end of year $709,777

• 10a · Land, buildings and equipment: cost or other basis

  $98,116,808

• 10b · Land, buildings and equipment: accumulated depreciation

  $39,511,763

• 10c · Land, buildings and equipment, net

  beginning of year $54,666,478 · end of year $58,605,045

• 11 · Investments: publicly traded securities

  beginning of year $19,011,941 · end of year $21,080,021

• 15 · Other assets

  beginning of year $27,013 · end of year $15,969

• 17 · Accounts payable and accrued expenses

  beginning of year $979,396 · end of year $3,906,121

• 19 · Deferred revenue

  beginning of year $1,108,247 · end of year $1,363,992

• 20 · Tax-exempt bond liabilities

  beginning of year $3,718,267 · end of year $3,011,001

• 27 · Net assets without donor restrictions

  beginning of year $78,048,431 · end of year $83,779,158

• 28 · Net assets with donor restrictions

  beginning of year $1,614,711 · end of year $4,534,008

The filer's explanations (Part III)

Part I, Line 7

The Hobby Center Board of Directors has established a methodology to consider bonus compensation for the President/CEO, and the President/CEO follows an established methodology for considering bonus compensation for other officials and highly compensated persons with final compensation reviewed and approved by the Executive Committee of the Board.