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Nonprofiteer
← FOX THEATRE INC

Form 990 for tax year 2022

Filed by FOX THEATRE INC.

Totals

Total revenue
$29,669,380
Total expenses
$25,547,050
Contributions and grants received
$880,326
Grants paid
$594,668
Program service revenue
$22,818,727
Investment income
$135,869
Other revenue
$5,834,458
Total assets, end of year
$111,230,591
Total liabilities, end of year
$19,618,427
Net assets or fund balances, end of year
$91,612,164
Program services expenses (Part IX)
$18,947,647
Management and general expenses
$6,395,415
Fundraising expenses
$203,988
Program service expenses (Part III)
$18,947,647

Program services were 74.2% 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.

  • 1e · Government grants (contributions)

    $38,400

  • 1f · All other contributions, gifts and grants

    $841,926

  • 2a · Program service revenue: THEATRE & BALLROOM RENTAL

    total $8,729,830 · related or exempt $8,713,480 · unrelated business $16,350

  • 2b · Program service revenue: TICKETS & HANDLING FEES

    total $8,486,177 · related or exempt $8,486,177

  • 2c · Program service revenue: RESTORATION FEES

    total $2,236,397 · related or exempt $2,236,397

  • 2d · Program service revenue: TUITION/MEMBERSHIP

    total $2,191,722 · related or exempt $2,191,722

  • 2e · Program service revenue: FOX PROMOTIONS

    total $1,174,601 · related or exempt $1,174,601

  • 3 · Investment income

    total $1,709,027 · excluded $1,709,027

  • 6a · Gross rents

    real property $108,297

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $108,297

  • 6d · Net rental income or loss

    total $108,297 · excluded $108,297

  • 7a · Gross sales of assets other than inventory

    securities $29,781,826

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

    securities $31,354,984

  • 7c · Gain or loss

    securities -$1,573,158

  • 7d · Net gain or loss

    total -$1,573,158 · excluded -$1,573,158

  • 10a · Gross sales of inventory

    $7,783,079

  • 10b · Cost of goods sold

    $2,074,575

  • 10c · Net income from sales of inventory

    total $5,708,504 · related or exempt $5,708,504

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $17,657 · related or exempt $17,657

  • 11e · Other revenue, total

    $17,657

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $594,668 · program services $594,668

  • 5 · Compensation of officers, directors and key employees

    total $1,693,637 · program services $1,126,698 · management and general $553,526 · fundraising $13,413

  • 7 · Other salaries and wages

    total $7,963,127 · program services $6,422,273 · management and general $1,536,888 · fundraising $3,966

  • 8 · Pension plan contributions

    total $249,210 · program services $201,642 · management and general $47,282 · fundraising $286

  • 9 · Other employee benefits

    total $1,030,363 · program services $859,859 · management and general $169,554 · fundraising $950

  • 10 · Payroll taxes

    total $723,268 · program services $567,555 · management and general $154,456 · fundraising $1,257

  • 11a · Fees: management

    total $154,704 · program services $137,951 · management and general $16,753

  • 11b · Fees: legal

    total $44,103 · management and general $44,103

  • 11c · Fees: accounting

    total $39,055 · management and general $39,055

  • 11d · Fees: lobbying

    total $55,000 · management and general $55,000

  • 11f · Fees: investment management

    total $220,832 · management and general $220,832

  • 11g · Fees: other

    total $212,992 · management and general $212,992

  • 12 · Advertising and promotion

    total $361,989 · program services $249,418 · management and general $56,896 · fundraising $55,675

  • 13 · Office expenses

    total $62,146 · program services $30,335 · management and general $30,499 · fundraising $1,312

  • 14 · Information technology

    total $397,184 · program services $82,892 · management and general $314,108 · fundraising $184

  • 16 · Occupancy

    total $2,472,804 · program services $2,362,604 · management and general $103,032 · fundraising $7,168

  • 17 · Travel

    total $74,925 · program services $37,002 · management and general $21,208 · fundraising $16,715

  • 19 · Conferences, conventions and meetings

    total $52,940 · program services $23,760 · management and general $25,387 · fundraising $3,793

  • 20 · Interest

    total $44,934 · management and general $44,934

  • 22 · Depreciation, depletion and amortization

    total $2,807,661 · program services $2,723,431 · management and general $75,807 · fundraising $8,423

  • 23 · Insurance

    total $495,469 · program services $135,559 · management and general $359,610 · fundraising $300

  • 24a · Other expenses: PERFORMANCE RELATED FEE

    total $4,971,949 · program services $2,819,744 · management and general $2,068,670 · fundraising $83,535

  • 24b · Other expenses: SUPPLIES

    total $725,333 · program services $572,256 · management and general $146,066 · fundraising $7,011

  • 24c · Other expenses: BANKING AND CREDIT CARD

    total $98,757 · management and general $98,757

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,498,520 · end of year $19,946,713

  • 4 · Accounts receivable

    beginning of year $1,416,840 · end of year $1,131,795

  • 8 · Inventories for sale or use

    beginning of year $189,342 · end of year $390,159

  • 9 · Prepaid expenses and deferred charges

    beginning of year $739,363 · end of year $777,523

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

    $65,549,276

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

    $35,454,946

  • 10c · Land, buildings and equipment, net

    beginning of year $29,047,853 · end of year $30,094,330

  • 11 · Investments: publicly traded securities

    beginning of year $50,631,432 · end of year $57,420,739

  • 12 · Investments: other securities

    end of year $1,371,381

  • 15 · Other assets

    beginning of year $17,470 · end of year $97,951

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,641,146 · end of year $2,046,677

  • 24 · Unsecured notes and loans payable

    beginning of year $3,083,333

  • 25 · Other liabilities

    beginning of year $12,848,984 · end of year $17,571,750

  • 27 · Net assets without donor restrictions

    beginning of year $82,967,357 · end of year $91,612,164

Mission and programs · 2022

Mission

TO PRESERVE AND SHARE THE FOX THEATRE

  • SEE SCHEDULE O ATLANTA'S FOX THEATRE IS A WORLD-RENOWNED CONCERT AND EVENT VENUE LIKE NO OTHER. CONCEIVED AS THE HEADQUARTERS FOR THE ATLANTA SHRINER'S ORGANIZATION IN 1928, THE BUILDING WAS DESIGNED TO EVOKE THE MYSTERY AND MAGIC OF THE ANCIENT NEAR EAST. SPANISH PALACES AND EGYPTIAN TEMPLES INFLUENCED THE BUILDING'S ELABORATE AND INTENSELY ORNATE DESIGN WHICH FEATURES SOARING DOMES, SWEEPING ARCHWAYS, STUNNING GOLD LEAF, AND SUMPTUOUS INTERIOR DETAILS INLCUDING A VAST COBALT "SKY" WITH A SEA OF TWINKLING STARS. THE BUILDING WAS ENHANCED BY MOVIE MOGUL WILLIAM FOX IN 1929 AND THE VENUE FLOURISHED AS ATLANTA'S PREMIERE MOVIE PALACE UNTIL 1932, WHEN THE ECONOMIC IMPACT OF THE GREAT DEPRESSION FORCED WILLIAM FOX AND THE THEATRE INTO BANKRUPTCY. THE ATLANTA ICON WAS PURCHASED AT AUCTION FOR A FRACTION OF ITS ORIGINAL COST AND REMAINED IN HIGH DEMAND FOR THE NEXT THREE DECADES, SHOWING HUNDREDS OF ACCLAIMED FILMS AND HOSTING LIVE PERFORMANCES FROM LEGENDARY ENTERTAINERS.DESPITE THE FOX'S SUCCESS, LANDMARK MOVIE PALACES HAD BEGUN TO FALL OUT OF FAVOR IN THE 1960S AS CUSTOMERS MIGRATED TO THE SUBURBS. IN 1974, THE FOX THEATRE CLOSED ITS DOORS, AND THE STUNNING LANDMARK, BELOVED FOR GENERATIONS, WAS SUDDENLY FACING DEMOLITION. CONFRONTED WITH THE POSSIBLITY OF LOSING THE ICONIC BUILDING, THE RESIDENTS OF ATLANTA SPRANG INTO ACTION. THEY FORMED A NON-PROFIT CALLED ATLANTA LANDMARKS AND LAUNCHED THE NOW LEGENDARY "SAVE THE FOX" CAMPAIGN, WHICH RAISED FUNDS TO SAVE THE BUILDING FROM DEMOLITION. ATLANTA LANDMARKS (NOW CALLED FOX THEATRE, INC.) CONTINUES TO RUN THE THEATRE TODAY, MAKING IT ONE OF AN ELITE GROUP OF NOT-FOR-PROFIT THEATRES IN THE COUNTRY COMMITTED TO MAKING PERFORMANCE ART ACCESSIBLE TO EVERYONE.NORMALLY, THE AWARD-WINNING THEATRE HOSTS MORE THAN 250 PERFORMANCES AND WELCOMES OVER 600,000 VISITORS ANNUALLY TO EXPERIENCE THE BEST IN BROADWAY, CONCERTS, BALLET, COMEDY AND FILM. IN THE PAST DECADE, THE FOX HAS BEEN WIDELY RECOGNIZED BY INDUSTRY LEADERS FOR EXCELLENCE IN ARTS AND ENTERTAINMENT, PRESERVATION AND ARTS EDUCATION. IT WAS SELECTED BY VENUESNOW AS #1 IN NORTH AMERICA AND #1 WORLDWIDE IN 2019 MID-YEAR IN ITS SIZE CATEGORY. IT WAS AWARDED THE OUTSTANDING HISTORIC THEATRE OF THE YEAR AWARD IN 2011 BY THE LEAGUE OF HISTORIC AMERICAN THEATRES. WITH THE 2018 RUN OF HAMILTON, IT ACHIEVED THE HIGHEST WEEKLY GROSS FOR TOURING BROADWAY TO DATE. THE FABULOUS FOX WAS GIVEN THE DISTINCTION BY ROLLING STONE MAGAZINE AS ONE OF "THE BEST BIG ROOMS IN AMERICA." FOR THE PAST DECADE, THE FOX THEATRE HAS CONSISTENTLY BEEN RANKED IN THE TOP THREE THEATRES IN NORTH AMERICA FOR GROSS TICKET SALES, LAYING A FOUNDATION FOR THIS ATLANTA ICON TO MAKE MEMORIES FOR GENERATIONS TO COME. IN THE PAST TWO DECADES, THE FOX THEATRE HAS BEEN RANKED AS TOP THEATRE OF THE DECADE.THE BOARD OF DIRECTORS OF FOX THEATRE, INC. CONTINUE TO MAINTAIN OUR CURRENT MISSION "TO PRESERVE AND SHARE THE FOX THEATRE AND VISION "TO BE ATLANTA'S PREEMINENT CULTURAL ICON THAT ENRICHES THE HUMAN SPIRIT AND TO FURTHER STATE THAT OUR PRIMARY MISSION OF PRESERVING AND SHARING THE FOX THEATRE CAN ONLY BE ACCOMPLISHED THROUGH ADVANCING THE ARTS IN BOTH METRO ATLANTA AND THE STATE BY PROVIDING ARTS EDUCATION THROUGH THE FOX THEATRE INSTITUTE, AND CULTURALLY SIGNIFICANT PROGRAMMING AND/OR EXHIBITS IN THE FOX THEATRE AND/OR THROUGH THE FOX THEATRE INSTITUTE'S NETWORK OF THEATRES FOR THE ENRICHMENT AND BENEFIT OF THE CITIZENS OF THE STATE OF GEORGIA.

    Expenses $18,018,047 · Grants $1,850 · Revenue $28,389,150

  • SEE SCHEDULE OTHE FOX THEATRE INSTITUTE (FTI) IS AN AWARD WINNING OUTREACH PROGRAM OFFERING HISTORIC PRESERVATION AND OPERATIONS EXPERTISE, CONSULTATION AND EDUCATION TO PERFORMING ARTS VENUES IN GEORGIA AND THE REGION. CREATED BY ATLANTA'S FOX THEATRE - AN ICONIC ATTRACTION WIDELY APPLAUDED FOR BEING A CATALYST FOR POSITIVE CHANGE IN THE COMMUNITY - FTI PAYS IT FORWARD, HELPING OTHER CULTURAL INSTITUTIONS RENEW, REINVIGORATE AND RESTORE ARTISTIC VITALITY IN THEIR RESPECTIVE COMMUNITIES. IN KEEPING ENIVORNMENTAL AND ECONOMIC IMPACT TOP OF MIND, FTI OFFERS THE FINANCIAL ASSISTANCE, RESORATION SUPPORT, AND OPERATIONS MENTORING NEEDED TO LEVERAGE SCARCE RESOURCES AND STIMULATE LOCAL ECONOMIES.FTI WAS FOUNDED IN 2008 IN RESPONSE TO A STATEWIDE NEED FOR ASSISTANCE WITH THE RESTORATION AND OPERATION OF GEORGIA'S HISTORIC THEATRES. DURING ITS BRIEF HISTORY, FTI HAS BECOME AN INDISPENSABLE RESOURCE FOR HISTORIC THEATRES THROUGHOUT THE STATE, FULFILLING THE FOX THEATRE'S VISION TO SHARE ITS EXPERIENCE IN HISTORIC PRESERVATION AND THEATRE OPERATIONS WITH OTHERS. AT A TIME WHEN PRESERVATION AND ARTS AGENCIES ARE EXPERIENCING BUDGET CUTBACKS, FTI IS FILLING A COMMUNITY NEED BY AWARDING GRANTS AND PROVIDING SUPPORT TO THESE COMMUNITY LANDMARKS. IN SHORT, FTI IS REVITALIZING GEORGIA'S COMMUNITIES, ONE THEATRE AT A TIME. COMBINED, IN THE FISCAL YEARS OF 2018 THROUGH 2023, FTI CONTRIBUTED MORE THAN $2.7 MILLION IN GRANTS TO THEATRES IN GEORGIA, INCLUDING OVER $323,000 FOR BLOCK BOOKING GRANTS. AS PART OF THIS OUTREACH PROGRAM AND TO HELP FUTURE GENERATIONS UNDERSTAND THE IMPORTANCE OF SUCH HISTORICAL PERFORMING ART VENUES SUCH AS THE FOX THEATRE, FTI HAS CREATED THE "FOX IN A BOX," AN INTERACTIVE SCHOOL EXHIBIT THAT FOCUSES ON HOW IMPORTANT EVENTS IN THE FOX THEATRE'S TIMELINE INTERSECT WITH KEY CLASSROOM LESSONS, FROM AMERICAN HISTORY AND THE CIVIL RIGHTS MOVEMENT TO ECONOMICS AND THE IMPORTANCE OF COMMUNITIES. ELEMENTARY STUDENTS ARE THEN CHALLENGED TO THINK HOW COMMUNITIES CAN COME TOGETHER TO SHARE AND EXPERIENCE AND TO PROTECT WHAT'S IMPORTANT TO THEM. SINCE 2014, WE HAVE BROUGHT THE FOX IN A BOX PROGRAM TO MORE THAN 54,000 STUDENTS, 3,800 EDUCATORS AND OVER 15,700 CITIZENS THROUGH THE GEORGIA PUBLIC LIBRARY SYSTEM.

    Expenses $929,600 · Grants $592,818 · Revenue $139,388

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Robyn Barkin

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Edward White

    CHAIR EMERITUS

    Total calculated
    $0
    Hours/week
    5

  • Ryan Halpern

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Mark Adams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Latanza Adjei

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Renee Dye

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Larry Hanson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Doug Hooker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Dr Richard Kannwischer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Barbara King

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Lauren Koontz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Sonjui Kumar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Jay Myers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Ivan Shammas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Howard Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Scott Taylor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Allan C Vella

    PRESIDENT & CEO

    Total calculated
    $949,102
    From this org
    $896,380
    From related orgs
    $0
    Other
    $52,722
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $551,315
    Bonus
    $343,750
    Other
    $1,315
    Deferred
    $8,955
    Nontaxable benefits
    $43,767
    Filer's total
    $949,102

  • William Renshaw

    VICE PRESIDENT & CFO

    Total calculated
    $353,585
    From this org
    $310,000
    From related orgs
    $0
    Other
    $43,585
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $250,000
    Bonus
    $60,000
    Other
    $0
    Deferred
    $9,150
    Nontaxable benefits
    $34,435
    Filer's total
    $353,585

  • Jamie Vosmeier

    VICE PRESIDENT OF SALES AND MARKETING

    Total calculated
    $284,292
    From this org
    $262,000
    From related orgs
    $0
    Other
    $22,292
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,000
    Bonus
    $52,000
    Other
    $0
    Deferred
    $7,860
    Nontaxable benefits
    $14,432
    Filer's total
    $284,292

  • Shelly Kleppsattel

    SECRETARY

    Total calculated
    $117,338
    From this org
    $102,296
    From related orgs
    $0
    Other
    $15,042
    Hours/week
    40

  • Faustina Brooks

    DIRECTOR OF FINANCE

    Total calculated
    $203,177
    From this org
    $175,782
    From related orgs
    $0
    Other
    $27,395
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,782
    Bonus
    $8,000
    Other
    $0
    Deferred
    $5,273
    Nontaxable benefits
    $22,122
    Filer's total
    $203,177

  • Lucy Freas

    DIRECTOR OF PROGRAMMING

    Total calculated
    $197,838
    From this org
    $158,770
    From related orgs
    $0
    Other
    $39,068
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,770
    Bonus
    $8,000
    Other
    $0
    Deferred
    $4,763
    Nontaxable benefits
    $34,305
    Filer's total
    $197,838

  • Rachel Bomeli

    SENIOR DIRECTOR, FACILITY

    Total calculated
    $176,194
    From this org
    $149,584
    From related orgs
    $0
    Other
    $26,610
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,292
    Bonus
    $13,292
    Other
    $0
    Deferred
    $4,488
    Nontaxable benefits
    $22,122
    Filer's total
    $176,194

  • Amy Smith

    DIRECTOR OF PRODUCTION

    Total calculated
    $141,129
    From this org
    $108,243
    From related orgs
    $0
    Other
    $32,886
    Hours/week
    40

  • Scott Christopher

    DIRECTOR OF OPERATIONS

    Total calculated
    $132,666
    From this org
    $105,344
    From related orgs
    $0
    Other
    $27,322
    Hours/week
    40

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 6a · Pay contingent on this organization's net earnings
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
PRESIDENT/CEO MAY RECEIVE A NONQUALIFIED 457(F) AWARD BASED UPON ACHIEVING CERTAIN LONG TERM STRATEGIC GOALS. THIS AWARD IS VESTED OVER THREE YEARS.
PART I, LINE 6
PRESIDENT/CEO MAY RECEIVE A BONUS BASED ON THE ACHIEVEMENT OF FINANCIAL RESULTS FROM THE FOX THEATRE OPERATING DIVISION. SENIOR MANAGEMENT MAY RECEIVE A BONUS BASED ON THE ACHIEVEMENT OF FINANCIAL RESULTS FROM THE FOX THEATRE OPERATING DIVISION.
PART I, LINE 7
PRESIDENT/CEO MAY RECEIVE A BONUS BASED ON THE NET INCOME FROM THE FOX THEATRE OPERATING DIVISION. SENIOR MANAGEMENT MAY RECEIVE A BONUS BASED ON THE INCOME FROM THE FOX THEATRE OPERATING DIVISION.

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
18 October 2023
IRS schema version
2022v5.0
Source object
202333119349303823

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