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Nonprofiteer
← SARASOTA PERFORMING ARTS CENTER FOUNDATION INC

Form 990 for tax year 2024

Filed by SARASOTA PERFORMING ARTS CENTER FOUNDATION INC.

Totals

Total revenue
$2,801,721
Total expenses
$6,388,399
Contributions and grants received
$2,422,151
Grants paid
$525,885
Program service revenue
$0
Investment income
$668,309
Other revenue
-$288,739
Total assets, end of year
$16,971,860
Total liabilities, end of year
$608,973
Net assets or fund balances, end of year
$16,362,887
Program services expenses (Part IX)
$4,940,483
Management and general expenses
$835,189
Fundraising expenses
$612,727
Program service expenses (Part III)
$4,940,483

Program services were 77.3% 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

    $760,975

  • 1e · Government grants (contributions)

    $99,347

  • 1f · All other contributions, gifts and grants

    $1,561,829

  • 1g · Noncash contributions included above

    $48,650

  • 3 · Investment income

    total $692,918 · excluded $692,918

  • 7a · Gross sales of assets other than inventory

    securities $9,992,940

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

    securities $10,014,559 · other assets $2,990

  • 7c · Gain or loss

    securities -$21,619 · other assets -$2,990

  • 7d · Net gain or loss

    total -$24,609 · excluded -$24,609

  • 8a · Fundraising events: gross income

    $123,000

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

    $760,975

  • 8b · Fundraising events: direct expenses

    $426,780

  • 8c · Net income from fundraising events

    total -$303,780 · excluded -$303,780

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $15,041 · excluded $15,041

  • 11e · Other revenue, total

    $15,041

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $513,385 · program services $513,385

  • 2 · Grants to domestic individuals

    total $12,500 · program services $12,500

  • 5 · Compensation of officers, directors and key employees

    total $665,315 · program services $476,454 · management and general $82,072 · fundraising $106,789

  • 7 · Other salaries and wages

    total $1,203,057 · program services $664,348 · management and general $255,008 · fundraising $283,701

  • 8 · Pension plan contributions

    total $59,393 · program services $26,910 · management and general $8,003 · fundraising $24,480

  • 9 · Other employee benefits

    total $63,628 · program services $27,513 · management and general $8,898 · fundraising $27,217

  • 10 · Payroll taxes

    total $101,775 · program services $61,749 · management and general $18,672 · fundraising $21,354

  • 11b · Fees: legal

    total $140,363 · program services $134,425 · management and general $5,146 · fundraising $792

  • 11c · Fees: accounting

    total $24,700 · management and general $24,700

  • 11d · Fees: lobbying

    total $60,235 · program services $60,235

  • 11f · Fees: investment management

    total $35,382 · management and general $35,382

  • 11g · Fees: other

    total $1,846,105 · program services $1,718,707 · management and general $116,914 · fundraising $10,484

  • 12 · Advertising and promotion

    total $45,957 · program services $45,957

  • 17 · Travel

    total $87,197 · program services $72,804 · management and general $10,543 · fundraising $3,850

  • 22 · Depreciation, depletion and amortization

    total $12,323 · program services $616 · management and general $1,232 · fundraising $10,475

  • 23 · Insurance

    total $17,673 · management and general $17,673

  • 24a · Other expenses: PROGRAM EXPENSE

    total $1,065,423 · program services $1,065,423

  • 24b · Other expenses: GENERAL ADMINISTRATION

    total $138,468 · program services $9,750 · management and general $118,233 · fundraising $10,485

  • 24c · Other expenses: GENERAL FUNDRAISING

    total $118,835 · management and general $14,506 · fundraising $104,329

  • 24d · Other expenses: COMPUTER MAINTENANCE

    total $107,440 · management and general $101,812 · fundraising $5,628

  • 24e · All other expenses

    total $69,245 · program services $49,707 · management and general $16,395 · fundraising $3,143

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $201,273 · end of year $263,838

  • 2 · Savings and temporary cash investments

    beginning of year $2,350 · end of year $2,453

  • 3 · Pledges and grants receivable

    beginning of year $218,090 · end of year $125,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $45,008 · end of year $50,091

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

    $216,439

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

    $193,778

  • 10c · Land, buildings and equipment, net

    beginning of year $37,974 · end of year $22,661

  • 11 · Investments: publicly traded securities

    beginning of year $19,350,610 · end of year $16,458,245

  • 15 · Other assets

    beginning of year $0 · end of year $49,572

  • 17 · Accounts payable and accrued expenses

    beginning of year $650,450 · end of year $593,973

  • 19 · Deferred revenue

    end of year $15,000

  • 27 · Net assets without donor restrictions

    beginning of year $12,234,517 · end of year $11,518,072

  • 28 · Net assets with donor restrictions

    beginning of year $6,970,338 · end of year $4,844,815

Mission and programs · 2024

Mission

TO CREATE AND SUSTAIN A VIBRANT PERFORMING ARTS CENTER, ADVANCE EDUCATION, AND ENRICH COMMUNITIES BY INSPIRING MINDS THROUGH THE POWER OF THE ARTS.

Activities or mission (Part I)

THE SARASOTA PERFORMING ARTS FOUNDATION'S MISSION IS TO CREATE AND SUSTAIN A VIBRANT PERFORMING ARTS CENTER, ADVANCE EDUCATION, AND ENRICH COMMUNITIES BY INSPIRING MINDS THROUGH THE POWER OF THE ARTS. THE FOUNDATION HAS PROVIDED ARTS ENGAGEMENT TO SCHOOLS AND COMMUNITIES SINCE 1987. THROUGH A PARTNERSHIP WITH THE VAN WEZEL PERFORMING ARTS HALL AND ITS OWN PROGRAMS THE FOUNDATION SERVES OVER 40,000 STUDENTS, TEACHERS, FAMILIES AND COMMUNITY MEMBERS EACH YEAR. THE SARASOTA PERFORMING ARTS FOUNDATION IS LEADING THE VISION TO BUILD A NEW SARASOTA PERFORMING ARTS CENTER IN PARTNERSHIP WITH THE CITY OF SARASOTA, AND IN COLLABORATION WITH THE BAY PARK CONSERVANCY AND VAN WEZEL PERFORMING ARTS HALL.

  • THE FOUNDATION USES ARTS STRATEGIES AND PRACTICES A TO SUPPORT ACADEMIC SUCCESS, COMMUNITY ENGAGEMENT, AND MENTAL AND PHYSICAL WELL BEING IN THE COMMUNITY THROUGH ITS MISSION & IMPACT DEPARTMENT. THIS IS ACCOMPLISHED THROUGH ARTIST IN RESIDENCY PROGRAMS, MULTIGENERATIONAL FAMILY PROGRAMS, AND ARTS AND WELLNESS ACTIVITITES. OVER 1,000 FAMILY MEMBERS ARE SERVED THROUGH MULTIGENERATIONAL ARTS PROGRAMMING.

    Expenses $806,918

  • ADDITIONALLY, THE FOUNDATION PROVIDES GRANTS TO THE VAN WEZEL PERFORMING ARTS HALL TO SUPPORT ITS EDUCATION PROGRAMS AND TO LOCAL TEACHERS THROUGH PROFESSIONAL DEVELOPMENT. THIS INCLUDES FUNDING FOR TICKETS AND BUSING FOR 25,000 STUDENTS TO ATTEND SCHOOLTIME PERFORMANCES ANNUALLY; 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 $525,885 · Grants $525,885

  • 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 MULTIPURPOSE SPACE, EDUCATION AND LIFELONG LEARNING SPACES .

    Expenses $3,607,680

As filed on the 2024 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

  • Eileen Kamerick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Koffman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ling Markovitz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • James Matras

    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

  • Drayton Saunders

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Nancy Weaver

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michael Wilson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Vern Chalfant

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • James Travers

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Dr Jenne Britell

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Julie Harris

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Tania Castroverde Moskalenko

    CEO

    Total calculated
    $426,752
    From this org
    $379,671
    From related orgs
    $0
    Other
    $47,081
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $352,570
    Bonus
    $25,000
    Other
    $2,101
    Deferred
    $16,881
    Nontaxable benefits
    $30,200
    Filer's total
    $426,752

  • Shannon Roddy

    VICE PRESIDENT

    Total calculated
    $223,873
    From this org
    $181,958
    From related orgs
    $0
    Other
    $41,915
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,761
    Bonus
    $0
    Other
    $197
    Deferred
    $11,001
    Nontaxable benefits
    $30,914
    Filer's total
    $223,873

  • Kelli Maldonado

    EXECUTIVE DIRECTOR

    Total calculated
    $172,201
    From this org
    $133,122
    From related orgs
    $0
    Other
    $39,079
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,012
    Bonus
    $0
    Other
    $110
    Deferred
    $8,556
    Nontaxable benefits
    $30,523
    Filer's total
    $172,201

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

Answered no

  • 4a · Severance or change-of-control payment
  • 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
UNDER THE TERMS OF THE FIRST AMENDMENT TO CEO TANIA CASTROVERDE MOSKALENKO'S EXECUTIVE EMPLOYMENT AGREEMENT, THE ORGANIZATION AGREED TO REIMBURSE FOR HOUSEHOLD AND FAMILY MOVING EXPENSE NET OF ANY REQUIRED WITHHOLDINGS OR DEDUCTIONS. PURSUANT TO THIS AGREEMENT, $22,160 IN RELOCATION EXPENSE REIMBURSEMENTS WAS DISBURSED TO THE CEO IN INSTALLMENTS; $2,460 RECEIVED ON DECEMBER 20, 2024 AND $19,700 RECEIVED ON JANUARY 17, 2025. UNDER THE TERMS OF THE FIRST AMENDMENT TO CEO TANIA CASTROVERDE MOSKALENKO'S EXECUTIVE EMPLOYMENT AGREEMENT, THE ORGANIZATION ALSO AGREED TO PROVIDE A TUITION SUPPORT STIPEND TO SUPPORT CEO'S FAMILY ACCESSING MOST APPROPRIATE EDUCATIONAL RESOURCES IN SARASOTA; PURSUANT TO THIS AGREEMENT, $25,000 WAS DISBURSED TO THE CEO ON SEPTEMBER 13, 2024.
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 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

  • VAN WEZEL PERFORMING ARTS HALL CITY OF SARASOTA

    $0

    DIRECT SUPPORT TO VAN WEZEL PERFORMING ARTS HALL, INCLUDING COMMUNITY EDUCATION/OUTREACH, SPECIAL PROGRAMS, BEAUTIFICATION AND UNIQUE EQUIPMENT NEEDS.

  • VAN WEZEL PERFORMING ARTS HALL CITY OF SARASOTA

    $0

    PASSTHROUGH GRANTS

Provenance

Return type
form_990
Tax year
2024
Filed
27 March 2026
IRS schema version
2024v5.5
Source object
202610869349301121

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