Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $668,646

• 1f · All other contributions, gifts and grants

  $1,018,397

• 2a · Program service revenue: PROGRAM SHOWS AND THEA

  total $27,588,457 · related or exempt $27,588,457

• 2b · Program service revenue: MANAGEMENT FEES

  total $225,000 · related or exempt $225,000

• 2c · Program service revenue: PARKING

  total $200,925 · related or exempt $200,925

• 3 · Investment income

  total $2,141,040 · unrelated business -$2,331 · excluded $2,143,371

• 6a · Gross rents

  real property $19,938

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $19,938

• 6d · Net rental income or loss

  total $19,938 · excluded $19,938

• 7a · Gross sales of assets other than inventory

  securities $20,227,258

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

  securities $18,931,424

• 7c · Gain or loss

  securities $1,295,834

• 7d · Net gain or loss

  total $1,295,834 · excluded $1,295,834

• 10a · Gross sales of inventory

  $2,180,986

• 10b · Cost of goods sold

  $505,476

• 10c · Net income from sales of inventory

  total $1,675,510 · excluded $1,675,510

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $33,925 · program services $33,925

• 5 · Compensation of officers, directors and key employees

  total $772,506 · program services $386,253 · management and general $386,253

• 7 · Other salaries and wages

  total $6,968,300 · program services $4,260,510 · management and general $2,707,790

• 8 · Pension plan contributions

  total $261,749 · program services $160,111 · management and general $101,638

• 9 · Other employee benefits

  total $1,404,452 · program services $832,613 · management and general $571,839

• 10 · Payroll taxes

  total $477,526 · program services $281,907 · management and general $195,619

• 11b · Fees: legal

  total $96,015 · management and general $96,015

• 11c · Fees: accounting

  total $98,843 · management and general $98,843

• 11d · Fees: lobbying

  total $84,000 · management and general $84,000

• 11f · Fees: investment management

  total $199,021 · management and general $199,021

• 11g · Fees: other

  total $74,815 · management and general $74,815

• 12 · Advertising and promotion

  total $1,693,912 · program services $1,561,167 · management and general $132,745

• 13 · Office expenses

  total $450,142 · management and general $450,142

• 14 · Information technology

  total $257,957 · management and general $257,957

• 16 · Occupancy

  total $1,056,562 · program services $959,244 · management and general $97,318

• 17 · Travel

  total $166,131 · management and general $166,131

• 19 · Conferences, conventions and meetings

  total $36,894 · management and general $36,894

• 22 · Depreciation, depletion and amortization

  total $1,471,872 · program services $1,177,498 · management and general $294,374

• 23 · Insurance

  total $373,309 · program services $373,309

• 24a · Other expenses: SHOW EXPENSES

  total $15,013,284 · program services $15,013,284

• 24b · Other expenses: BANK AND CREDIT CARD FE

  total $590,240 · program services $582,240 · management and general $8,000

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $9,402,632 · end of year $8,767,501

• 2 · Savings and temporary cash investments

  beginning of year $4,802,118 · end of year $4,960,937

• 4 · Accounts receivable

  beginning of year $301,880 · end of year $70,459

• 8 · Inventories for sale or use

  beginning of year $64,826 · end of year $82,005

• 9 · Prepaid expenses and deferred charges

  beginning of year $292,496 · end of year $296,106

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

  $45,319,601

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

  $30,747,984

• 10c · Land, buildings and equipment, net

  beginning of year $12,247,239 · end of year $14,571,617

• 11 · Investments: publicly traded securities

  beginning of year $59,400,042 · end of year $65,127,131

• 12 · Investments: other securities

  beginning of year $18,850 · end of year $57,307

• 15 · Other assets

  beginning of year $1,077,740 · end of year $1,244,319

• 17 · Accounts payable and accrued expenses

  beginning of year $1,225,357 · end of year $1,211,156

• 19 · Deferred revenue

  beginning of year $8,128,483 · end of year $8,574,073

• 25 · Other liabilities

  beginning of year $1,077,740 · end of year $1,244,319

• 27 · Net assets without donor restrictions

  beginning of year $77,176,243 · end of year $84,147,834

The filer's explanations (Part III)

PART I, LINE 6

FOR JAMES L. SINGLETON, THE BONUS RECEIVED FROM PROFESSIONAL FACILITIES MANAGEMENT IS CALCULATED UPON A FORMULA BASED UPON THE NET EARNINGS OF THE ENTITY. ADDITIONALLY, THE BONUS PAID BY THE ENTITY IS CAPPED AT A SUM THAT ENSURES THAT THE SALARY, BENEFITS AND BONUSES RECEIVED FROM ALL RELATED ENTITIES DOES NOT EXCEED $990,000.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• PROFESSIONAL FACILITIES OPERATIONS

  INVESTMENT · HOLDING COMPANY · RI · 100% owned

  Directly controlled by PROFESSIONAL FACILTIES MANAGEMENT

• PFM LLC

  INVESTMENT · FACILITY MANAGEMENT · RI · 100% owned

  Directly controlled by PROFESSIONAL FACILTIES MANAGEMENT

• IMPACT PERFORMING ARTS CONSULTING LLC

  INVESTMENT · HOLDING COMPANY · RI · 100% owned

  Directly controlled by PROFESSIONAL FACILTIES MANAGEMENT

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• PROFESSIONAL FACILITIES MANAGEMENT

  C · FACILITY MANAGEMENT · RI · 100% owned · share of income $7,366,620 · share of assets $42,773,944

  Directly controlled by PROVIDENCE PERFORMING ARTS CENTER