Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $236,875

• 1f · All other contributions, gifts and grants

  $521,574

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

  total $21,053,965 · related or exempt $21,053,965

• 2b · Program service revenue: MANAGEMENT FEES

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

• 3 · Investment income

  total $197,031 · unrelated business $6,272 · excluded $190,759

• 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 $10,371,689

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

  securities $10,372,326

• 7c · Gain or loss

  securities -$637

• 7d · Net gain or loss

  total -$637 · excluded -$637

• 8a · Fundraising events: gross income

  $236,875

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

  $236,875

• 8b · Fundraising events: direct expenses

  $236,875

• 8c · Net income from fundraising events

  total $0

• 10a · Gross sales of inventory

  $1,794,608

• 10b · Cost of goods sold

  $624,444

• 10c · Net income from sales of inventory

  total $1,170,164 · excluded $1,170,164

• 11a · Other revenue: MISCELLANEOUS

  total $13,870 · excluded $13,870

• 11e · Other revenue, total

  $13,870

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $22,263 · program services $22,263

• 5 · Compensation of officers, directors and key employees

  total $730,167 · program services $354,704 · management and general $375,463

• 7 · Other salaries and wages

  total $5,673,356 · program services $3,457,464 · management and general $2,215,892

• 8 · Pension plan contributions

  total $354,902 · program services $61,084 · management and general $293,818

• 9 · Other employee benefits

  total $367,007 · program services $129,922 · management and general $237,085

• 10 · Payroll taxes

  total $456,400 · program services $177,996 · management and general $278,404

• 11b · Fees: legal

  total $40,156 · management and general $40,156

• 11c · Fees: accounting

  total $101,458 · program services $1,900 · management and general $99,558

• 11d · Fees: lobbying

  total $47,000 · program services $47,000

• 11g · Fees: other

  total $168,188 · management and general $168,188

• 12 · Advertising and promotion

  total $1,502,376 · program services $1,331,684 · management and general $170,692

• 13 · Office expenses

  total $292,527 · program services $17,201 · management and general $275,326

• 14 · Information technology

  total $167,250 · program services $12,401 · management and general $154,849

• 16 · Occupancy

  total $954,190 · program services $854,416 · management and general $99,774

• 17 · Travel

  total $170,309 · management and general $170,309

• 22 · Depreciation, depletion and amortization

  total $1,408,315 · program services $1,126,652 · management and general $281,663

• 23 · Insurance

  total $354,078 · program services $354,078

• 24a · Other expenses: SHOW EXPENSES

  total $10,495,413 · program services $10,495,413

• 24b · Other expenses: BANK & CREDIT CARD FEES

  total $311,050 · program services $311,050

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $18,839,235 · end of year $14,262,902

• 4 · Accounts receivable

  beginning of year $392,781 · end of year $280,635

• 8 · Inventories for sale or use

  beginning of year $36,940 · end of year $61,323

• 9 · Prepaid expenses and deferred charges

  beginning of year $233,788 · end of year $603,177

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

  $39,400,426

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

  $27,871,614

• 10c · Land, buildings and equipment, net

  beginning of year $11,788,490 · end of year $11,528,812

• 11 · Investments: publicly traded securities

  beginning of year $29,693,777 · end of year $48,356,344

• 12 · Investments: other securities

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

• 15 · Other assets

  beginning of year $812,175 · end of year $913,926

• 17 · Accounts payable and accrued expenses

  beginning of year $1,539,882 · end of year $1,289,864

• 19 · Deferred revenue

  beginning of year $6,425,387 · end of year $7,290,368

• 25 · Other liabilities

  beginning of year $814,075 · end of year $918,381

• 27 · Net assets without donor restrictions

  beginning of year $53,042,942 · end of year $66,533,606

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 $8,928,322 · share of assets $33,657,837

  Directly controlled by PROVIDENCE PERFORMING ARTS CENTER