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Nonprofiteer
← SARASOTA PERFORMING ARTS CENTER FOUNDATION INC

Form 990 for tax year 2023

Filed by SARASOTA PERFORMING ARTS CENTER FOUNDATION INC.

Totals

Total revenue
$7,586,178
Total expenses
$4,935,616
Contributions and grants received
$7,019,336
Grants paid
$599,654
Program service revenue
$0
Investment income
$876,953
Other revenue
-$310,111
Total assets, end of year
$19,855,305
Total liabilities, end of year
$650,450
Net assets or fund balances, end of year
$19,204,855
Program services expenses (Part IX)
$3,388,083
Management and general expenses
$880,364
Fundraising expenses
$667,169
Program service expenses (Part III)
$3,388,083

Program services were 68.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $1,115,997

  • 1e · Government grants (contributions)

    $58,116

  • 1f · All other contributions, gifts and grants

    $5,845,223

  • 3 · Investment income

    total $621,152 · excluded $621,152

  • 7a · Gross sales of assets other than inventory

    securities $9,613,823

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

    securities $9,358,022

  • 7c · Gain or loss

    securities $255,801

  • 7d · Net gain or loss

    total $255,801 · excluded $255,801

  • 8a · Fundraising events: gross income

    $142,000

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

    $1,115,997

  • 8b · Fundraising events: direct expenses

    $456,553

  • 8c · Net income from fundraising events

    total -$314,553 · excluded -$314,553

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $4,442 · excluded $4,442

  • 11e · Other revenue, total

    $4,442

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $591,154 · program services $591,154

  • 2 · Grants to domestic individuals

    total $8,500 · program services $8,500

  • 5 · Compensation of officers, directors and key employees

    total $277,006 · program services $214,998 · management and general $15,277 · fundraising $46,731

  • 7 · Other salaries and wages

    total $978,043 · program services $497,132 · management and general $193,549 · fundraising $287,362

  • 8 · Pension plan contributions

    total $39,675 · program services $21,527 · management and general $4,471 · fundraising $13,677

  • 9 · Other employee benefits

    total $58,155 · program services $31,116 · management and general $6,662 · fundraising $20,377

  • 10 · Payroll taxes

    total $76,865 · program services $43,449 · management and general $12,881 · fundraising $20,535

  • 11b · Fees: legal

    total $156,868 · program services $137,207 · management and general $15,188 · fundraising $4,473

  • 11c · Fees: accounting

    total $32,400 · management and general $32,400

  • 11d · Fees: lobbying

    total $60,553 · program services $60,553

  • 11f · Fees: investment management

    total $49,943 · management and general $49,943

  • 11g · Fees: other

    total $1,663,240 · program services $1,355,234 · management and general $261,851 · fundraising $46,155

  • 12 · Advertising and promotion

    total $28,389 · program services $28,389

  • 17 · Travel

    total $116,411 · program services $90,912 · management and general $22,144 · fundraising $3,355

  • 22 · Depreciation, depletion and amortization

    total $16,159 · program services $808 · management and general $1,616 · fundraising $13,735

  • 23 · Insurance

    total $16,967 · management and general $16,967

  • 24a · Other expenses: PROGRAM EXPENSE

    total $342,459 · program services $281,699 · fundraising $60,760

  • 24b · Other expenses: GENERAL FUNDRAISING

    total $148,015 · management and general $25,894 · fundraising $122,121

  • 24c · Other expenses: GENERAL ADMINISTRATION

    total $130,531 · program services $8,908 · management and general $100,170 · fundraising $21,453

  • 24d · Other expenses: COMPUTER MAINTENANCE

    total $109,575 · program services $3,207 · management and general $103,849 · fundraising $2,519

  • 24e · All other expenses

    total $34,708 · program services $13,290 · management and general $17,502 · fundraising $3,916

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $15,250 · end of year $201,273

  • 2 · Savings and temporary cash investments

    beginning of year $692,935 · end of year $2,350

  • 3 · Pledges and grants receivable

    beginning of year $359,084 · end of year $218,090

  • 4 · Accounts receivable

    beginning of year $20,488

  • 9 · Prepaid expenses and deferred charges

    beginning of year $42,748 · end of year $45,008

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

    $247,589

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

    $209,615

  • 10c · Land, buildings and equipment, net

    beginning of year $54,132 · end of year $37,974

  • 11 · Investments: publicly traded securities

    beginning of year $15,400,593 · end of year $19,350,610

  • 17 · Accounts payable and accrued expenses

    beginning of year $493,394 · end of year $650,450

  • 19 · Deferred revenue

    beginning of year $173,590 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $13,366,681 · end of year $12,234,517

  • 28 · Net assets with donor restrictions

    beginning of year $2,551,565 · end of year $6,970,338

Mission and programs · 2023

Mission

TO BE A PREEMINENT DESTINATION FOR THE PERFORMING ARTS IN THE NATION BY OFFERING EXTRAORDINARY CULTURAL AND EDUCATIONAL EXPERIENCES THAT ENRICH OUR COMMUNITY, INSPIRE MINDS, AND MANIFEST THE POWER OF THE ARTS.

Activities or mission (Part I)

THE SARASOTA PERFORMING ARTS FOUNDATION'S MISSION IS TO BE A PREEMINENT DESTINATION FOR THE PERFORMING ARTS IN THE NATION BY OFFERING EXTRAORDINARY CULTURAL AND EDUCATIONAL EXPERIENCES THAT ENRICH OUR COMMUNITY, INSPIRE MINDS, AND MANIFEST THE POWER OF THE ARTS. THE FOUNDATION HAS PARTNERED WITH THE VAN WEZEL PERFORMING ARTS HALL SINCE 1987 TO SUPPORT ARTS EDUCATION THROUGHOUT OUR REGION. IT SERVES UP TO 50,000 STUDENTS AND THEIR FAMILIES ANNUALLY THROUGH THE PROVISION OF ENRICHING ARTS-BASED EDUCATION OPPORTUNITIES AND PROFESSIONAL DEVELOPMENT FOR MORE THAN 400 TEACHERS ACROSS FIVE COUNTIES. THE SARASOTA PERFORMING ARTS FOUNDATION IS LEADING THE VISION TO BUILD A NEW SARASOTA PERFORMING ARTS CENTER IN PARTNERSHIP WITH THE CITY, AND IN COLLABORATION WITH THE BAY PARK CONSERVANCY AND VAN WEZEL PERFORMING ARTS HALL.

  • THE FOUNDATION USES THE ARTS AND ARTS EDUCATION TO SUPPORT ACADEMIC SUCCESS AND MENTAL AND PHYSICAL WELL BEING IN THE COMMUNITY. THE FOUNDATION'S PROGRAMS REACH UP TO 50,000 STUDENTS AND TRAIN HUNDREDS OF TEACHERS IN ARTS INTEGRATION ACROSS FIVE COUNTIES EACH YEAR. THE FOUNDATION PROVIDES FUNDING FOR TICKETS AND BUSING FOR OVER 30,000 STUDENTS TO ATTEND SCHOOLTIME PERFORMANCES EACH YEAR; FUNDING FOR TEACHERS TO SUPPLEMENT THE STUDENTS' EXPERIENCE IN THE CLASSROOM USING ARTS INTEGRATIVE LEARNING TECHNIQUES; FUNDING FOR MASTER CLASSES FOR TEACHERS; AND FUNDING FOR YOUTH, FAMILIES, SENIORS, MILITARY FAMILIES AND INDIVIDUALS TO SEE, EXPERIENCE AND PARTICIPATE IN LIVE SHOWS AND EVENTS.

    Expenses $666,828

  • ADDITIONALLY, THE FOUNDATION PROVIDES GRANTS TO THE VAN WEZEL PERFORMING ARTS HALL TO SUPPORT ITS EDUCATION PROGRAMS AND TO LOCAL TEACHERS VIA THE APPLETON AWARD AND MERIT SCHOLARSHIP

    Expenses $599,654 · Grants $599,654

  • ON SEPTEMBER 6, 2018, THE SARASOTA CITY COMMISSION APPROVED THE BAYFRONT MASTER PLAN WITH A NEW PERFORMING ARTS CENTER AT THE HEART OF THE BAY PARK THAT WILL BECOME THE NEXUS OF PERFORMING ARTS IN OUR REGION FOR GENERATIONS TO COME. THE FOUNDATION AND THE CITY OF SARASOTA HAVE HAD A THRIVING CULTURAL PARTNERSHIP FOR OVER THREE DECADES. ON APRIL 4, 2022, THE FOUNDATION'S PARTNERSHIP ROLE EXPANDED WITH THE SARASOTA CITY COMMISSION APPROVING THE EXECUTION OF A PARTNERSHIP AGREEMENT FOR THE PLANNING, FINANCING, DESIGN, AND CONSTRUCTION OF THE NEW SARASOTA PERFORMING ARTS CENTER. TOGETHER, BOTH PARTIES HAVE LAID THE NECESSARY GROUNDWORK-SURVEYS, FEASIBILITY STUDIES, ENGINEERING STUDIES, AND COST ESTIMATES. THE NEW PERFORMING ARTS CENTER WILL BE MORE THAN A BUILDING. AS A FINANCIALLY ROBUST, YEAR-ROUND CIVIC ASSET, SARASOTA PERFORMING ARTS CENTER WILL ENHANCE SARASOTA'S REPUTATION AS A REGIONAL, NATIONAL, AND INTERNATIONAL CULTURAL DESTINATION. THE BUILDING PROGRAM IS COMMITTED TO ACCESSIBILITY AND UNIVERSAL DESIGN THAT CAN BE USED BY EVERYONE AND WILL INCLUDE A 2,200-SEAT MAIN STAGE INCLUDING CENTER AISLE(S), 300-SEAT FLEXIBLE PERFORMANCE SPACE, EDUCATION AND LIFE LONG LEARNING SPACES, MULTIPLE OUTDOOR PUBLIC PERFORMING SPACES, AND TECHNOLOGY THAT WILL ALLOW PERFORMANCES TO BE SIMULCAST INTO THE PARK.

    Expenses $2,121,601

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • GERALD BILLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHAD CAMPBELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MARK FAMIGLIO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SHARON HILLSTROM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MICHELE HOOPER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DR JAIH JACKSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DAVID KOFFMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LING MARKOWITZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL MARTELLA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DR JOHN MAUPIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KARL NEWKIRK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ROCHELLE NIGRI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DRAYTON SAUNDERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • NANCI ROSS-WEAVER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL WILSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JAMES TRAVERS

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • DR JENNE BRITELL

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    3

  • VERN CHALFANT

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • JULIE HARRIS

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • MARK COLE

    CHIEF ADVANCEMT OFFCR THRU SEPT 2023

    Total calculated
    $198,390
    From this org
    $183,047
    From related orgs
    $0
    Other
    $15,343
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,047
    Bonus
    $0
    Other
    $0
    Deferred
    $4,925
    Nontaxable benefits
    $10,418
    Filer's total
    $198,390

  • LAURA HENNESSEY

    COO THRU JUNE 2023

    Total calculated
    $130,503
    From this org
    $122,045
    From related orgs
    $0
    Other
    $8,458
    Hours/week
    40

  • TANIA CASTROVERDE MOSKALENKO

    CEO EFF. FEB 2024

    Total calculated
    $0
    Hours/week
    40

  • CHERYL MENDELSON

    CEO THRU MAY 2023

    Total calculated
    $92,630
    From this org
    $89,537
    From related orgs
    $0
    Other
    $3,093
    Hours/week
    40

  • SHANNON RODDY

    VICE PRESIDENT

    Total calculated
    $178,977
    From this org
    $166,734
    From related orgs
    $0
    Other
    $12,243
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,234
    Bonus
    $12,500
    Other
    $0
    Deferred
    $4,979
    Nontaxable benefits
    $7,264
    Filer's total
    $178,977

  • SUZANNE HUDSON-SMITH

    DIR. LEADERSHIP GIVING THRU OCT 2023

    Total calculated
    $114,962
    From this org
    $101,595
    From related orgs
    $0
    Other
    $13,367
    Hours/week
    40

  • KELLI MALDONADO

    EXECUTIVE DIRECTOR

    Total calculated
    $156,606
    From this org
    $145,704
    From related orgs
    $0
    Other
    $10,902
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,704
    Bonus
    $5,000
    Other
    $0
    Deferred
    $4,350
    Nontaxable benefits
    $6,552
    Filer's total
    $156,606

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
FROM FEBRUARY 2024 THRU JUNE 2024, CEO TANIA CASTROVERDE MOSKALENKO RECEIVED A $4,000 MONTHLY TEMPORARY HOUSING ALLOWANCE DURING THE PROCESS OF HER RELOCATION TO THE SARASOTA AREA.
PART I, LINE 3
THE CEO'S COMPENSATION IS DETERMINED BY A COMMITTEE WHICH WORKS TOGETHER TO AGREE ON SALARY. COMPENSATION STUDIES AND OTHER NON-PROFITS' 990S WERE REVIEWED AS A BASIS FOR SALARY. THE CEO IS GIVEN A WRITTEN EMPLOYMENT CONTRACT.
PART I, LINE 4A
CHIEF ADVANCEMENT OFFICER MARK COLE RECEIVED A TOTAL OF $17,500 IN SEVERANCE PAYMENTS IN THREE INSTALLMENTS BETWEEN 09.29.2023 AND 10.27.2023.
PART I, LINE 5
THE PRESIDENT/CEO RECEIVES A YEAR-END INCENTIVE BONUS, AS DEFINED IN HER EMPLOYMENT CONTRACT.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202521359349305457

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