Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $399,053

• 1d · Related organizations

  $687,000

• 1f · All other contributions, gifts and grants

  $9,556,967

• 1g · Noncash contributions included above

  $42,041

• 2a · Program service revenue: TICKET SALES

  total $30,966,367 · related or exempt $30,966,367

• 2b · Program service revenue: OTHER GENERAL SALES

  total $9,417,980 · related or exempt $9,417,980

• 2c · Program service revenue: EDUCATIONAL CLASS FEE

  total $600 · related or exempt $600

• 3 · Investment income

  total $1,011,172 · excluded $1,011,172

• 6a · Gross rents

  real property $229,470

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $229,470

• 6d · Net rental income or loss

  total $229,470 · excluded $229,470

• 7a · Gross sales of assets other than inventory

  securities $120,723

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

  securities $0

• 7c · Gain or loss

  securities $120,723

• 7d · Net gain or loss

  total $120,723 · excluded $120,723

• 8a · Fundraising events: gross income

  $99,000

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

  $399,053

• 8b · Fundraising events: direct expenses

  $214,980

• 8c · Net income from fundraising events

  total -$115,980 · excluded -$115,980

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $2,367,621 · program services $1,452,640 · management and general $607,160 · fundraising $307,821

• 7 · Other salaries and wages

  total $5,647,955 · program services $3,465,269 · management and general $1,448,379 · fundraising $734,307

• 9 · Other employee benefits

  total $704,717 · program services $432,375 · management and general $180,720 · fundraising $91,622

• 10 · Payroll taxes

  total $542,207 · program services $332,668 · management and general $139,045 · fundraising $70,494

• 11c · Fees: accounting

  total $207,702 · program services $78,469 · management and general $129,233

• 11g · Fees: other

  total $1,295,148 · program services $1,289,608 · management and general $5,540

• 12 · Advertising and promotion

  total $1,410,158 · program services $1,410,158

• 13 · Office expenses

  total $313,787 · program services $226,161 · management and general $74,238 · fundraising $13,388

• 16 · Occupancy

  total $573,217 · program services $112,492 · management and general $460,725

• 17 · Travel

  total $177,372 · program services $137,624 · management and general $35,941 · fundraising $3,807

• 19 · Conferences, conventions and meetings

  total $24,315 · program services $13,644 · management and general $9,235 · fundraising $1,436

• 20 · Interest

  total $4,080 · management and general $4,080

• 22 · Depreciation, depletion and amortization

  total $3,952,818 · program services $3,701,546 · management and general $251,272

• 23 · Insurance

  total $525,544 · program services $1,482 · management and general $524,062

• 24a · Other expenses: ARTIST FEES

  total $18,236,319 · program services $18,236,319

• 24b · Other expenses: ARTIST EXPENSE

  total $4,996,207 · program services $4,996,207

• 24c · Other expenses: CONTRACT SERVICES

  total $3,912,029 · program services $3,551,194 · management and general $360,835

• 24d · Other expenses: TEMPORARY EMPLOYEES

  total $2,018,662 · program services $2,014,605 · management and general $4,057

• 24e · All other expenses

  total $5,025,793 · program services $3,471,707 · management and general $1,371,306 · fundraising $182,780

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $7,987,658 · end of year $18,749,075

• 2 · Savings and temporary cash investments

  beginning of year $18,200,000 · end of year $1,000,000

• 3 · Pledges and grants receivable

  beginning of year $2,954,151 · end of year $4,669,631

• 4 · Accounts receivable

  beginning of year $8,806,594 · end of year $8,048,419

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,121,672 · end of year $5,384,725

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

  $68,879,318

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

  $27,472,719

• 10c · Land, buildings and equipment, net

  beginning of year $43,600,199 · end of year $41,406,599

• 11 · Investments: publicly traded securities

  beginning of year $12,582,221 · end of year $27,598,455

• 14 · Intangible assets

  beginning of year $6,335 · end of year $4,099

• 15 · Other assets

  beginning of year $115,735 · end of year $147,626

• 17 · Accounts payable and accrued expenses

  beginning of year $3,568,585 · end of year $3,946,017

• 19 · Deferred revenue

  beginning of year $43,047,806 · end of year $51,739,848

• 23 · Secured mortgages and notes payable

  beginning of year $6,643,915 · end of year $6,184,335

• 27 · Net assets without donor restrictions

  beginning of year $40,614,259 · end of year $41,638,429

• 28 · Net assets with donor restrictions

  beginning of year $3,500,000 · end of year $3,500,000

The filer's explanations (Part III)

PART I, LINE 3

A WRITTEN EMPLOYMENT CONTRACT WAS USED TO ESTABLISH THE COMPENSATION OF THE CEO. INTERNAL SALARIES ARE MEASURED AGAINST BENCHMARKS DERIVED FROM INDEPENDENT MARKET STUDIES.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• NWA ENTERTAINMENT LLC

  CONCERT VENUE · AR · income $35,780,930 · assets $7,280,232

  Directly controlled by WALTON ARTS CENTER COUNCIL INC