Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $1,118,305

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

  total $24,416,011 · related or exempt $24,416,011

• 2b · Program service revenue: MANAGEMENT FEES

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

• 3 · Investment income

  total $6,994,295 · unrelated business $998 · excluded $6,993,297

• 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 $11,388,651

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

  securities $11,610,973

• 7c · Gain or loss

  securities -$222,322

• 7d · Net gain or loss

  total -$222,322 · excluded -$222,322

• 10a · Gross sales of inventory

  $2,070,604

• 10b · Cost of goods sold

  $565,472

• 10c · Net income from sales of inventory

  total $1,505,132 · excluded $1,505,132

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $61,013 · program services $61,013

• 5 · Compensation of officers, directors and key employees

  total $741,826 · program services $370,913 · management and general $370,913

• 7 · Other salaries and wages

  total $6,943,138 · program services $4,720,384 · management and general $2,222,754

• 8 · Pension plan contributions

  total $399,584 · program services $222,891 · management and general $176,693

• 9 · Other employee benefits

  total $371,920 · program services $259,547 · management and general $112,373

• 10 · Payroll taxes

  total $437,764 · program services $297,620 · management and general $140,144

• 11b · Fees: legal

  total $63,142 · program services $63,142

• 11c · Fees: accounting

  total $97,000 · management and general $97,000

• 11d · Fees: lobbying

  total $72,000 · program services $72,000

• 11f · Fees: investment management

  total $160,317 · management and general $160,317

• 11g · Fees: other

  total $106,329 · management and general $106,329

• 12 · Advertising and promotion

  total $1,734,451 · program services $1,643,136 · management and general $91,315

• 13 · Office expenses

  total $388,112 · program services $131,297 · management and general $256,815

• 14 · Information technology

  total $186,504 · management and general $186,504

• 16 · Occupancy

  total $710,842 · program services $605,568 · management and general $105,274

• 17 · Travel

  total $165,473 · management and general $165,473

• 19 · Conferences, conventions and meetings

  total $33,241 · management and general $33,241

• 22 · Depreciation, depletion and amortization

  total $1,404,498 · program services $1,123,409 · management and general $281,089

• 23 · Insurance

  total $352,388 · program services $352,388

• 24a · Other expenses: SHOW EXPENSES

  total $13,592,917 · program services $13,592,917

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

  total $417,022 · program services $417,022

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $14,262,902 · end of year $9,402,632

• 2 · Savings and temporary cash investments

  end of year $4,802,118

• 4 · Accounts receivable

  beginning of year $280,635 · end of year $301,880

• 8 · Inventories for sale or use

  beginning of year $61,323 · end of year $64,826

• 9 · Prepaid expenses and deferred charges

  beginning of year $603,177 · end of year $292,496

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

  $41,567,545

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

  $29,320,306

• 10c · Land, buildings and equipment, net

  beginning of year $11,528,812 · end of year $12,247,239

• 11 · Investments: publicly traded securities

  beginning of year $48,356,344 · end of year $59,400,042

• 12 · Investments: other securities

  beginning of year $25,100 · end of year $18,850

• 15 · Other assets

  beginning of year $913,926 · end of year $1,077,740

• 17 · Accounts payable and accrued expenses

  beginning of year $1,289,864 · end of year $1,225,357

• 19 · Deferred revenue

  beginning of year $7,290,368 · end of year $8,128,483

• 25 · Other liabilities

  beginning of year $918,381 · end of year $1,077,740

• 27 · Net assets without donor restrictions

  beginning of year $66,533,606 · end of year $77,176,243

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

  Directly controlled by PROVIDENCE PERFORMING ARTS CENTER