Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $287,410

• 1e · Government grants (contributions)

  $546,004

• 1f · All other contributions, gifts and grants

  $3,070,978

• 1g · Noncash contributions included above

  $69,643

• 2a · Program service revenue: Production program

  total $20,177,767 · related or exempt $20,177,767

• 2b · Program service revenue: Hobby Center usage fees

  total $8,490,495 · related or exempt $8,490,495

• 2c · Program service revenue: Programming & Education Revenue

  total $649,309 · related or exempt $649,309

• 2d · Program service revenue: Patron donor benefits

  total $122,146 · related or exempt $122,146

• 3 · Investment income

  total $477,665 · excluded $477,665

• 6a · Gross rents

  real property $1,747,588

• 6b · Less rental expenses

  real property $1,520,482

• 6c · Rental income or loss

  real property $227,106

• 6d · Net rental income or loss

  total $227,106 · excluded $227,106

• 7a · Gross sales of assets other than inventory

  securities $3,337,519

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

  securities $3,341,174

• 7c · Gain or loss

  securities -$3,655

• 7d · Net gain or loss

  total -$3,655 · excluded -$3,655

• 8a · Fundraising events: gross income

  $39,000

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

  $287,410

• 8b · Fundraising events: direct expenses

  $98,762

• 8c · Net income from fundraising events

  total -$59,762 · excluded -$59,762

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $745,086 · program services $236,769 · management and general $413,610 · fundraising $94,707

• 7 · Other salaries and wages

  total $3,842,594 · program services $2,869,097 · management and general $905,625 · fundraising $67,872

• 8 · Pension plan contributions

  total $154,995 · program services $119,954 · management and general $33,096 · fundraising $1,945

• 9 · Other employee benefits

  total $433,911 · program services $310,454 · management and general $111,644 · fundraising $11,813

• 10 · Payroll taxes

  total $292,978 · program services $202,762 · management and general $80,518 · fundraising $9,698

• 11b · Fees: legal

  total $31,645 · management and general $31,645

• 11c · Fees: accounting

  total $52,148 · management and general $52,148

• 11f · Fees: investment management

  total $75,982 · management and general $75,982

• 11g · Fees: other

  total $2,309,430 · program services $2,054,052 · management and general $249,932 · fundraising $5,446

• 12 · Advertising and promotion

  total $1,248,910 · management and general $1,226,763 · fundraising $22,147

• 13 · Office expenses

  total $562,785 · program services $435,167 · management and general $124,473 · fundraising $3,145

• 14 · Information technology

  total $239,465 · program services $217,667 · management and general $19,532 · fundraising $2,266

• 16 · Occupancy

  total $991,718 · program services $948,738 · management and general $32,234 · fundraising $10,746

• 17 · Travel

  total $209,638 · program services $152,703 · management and general $10,695 · fundraising $46,240

• 19 · Conferences, conventions and meetings

  total $10,979 · program services $6,230 · management and general $600 · fundraising $4,149

• 20 · Interest

  total $120,837 · program services $116,004 · management and general $3,625 · fundraising $1,208

• 22 · Depreciation, depletion and amortization

  total $2,134,740 · program services $2,049,351 · management and general $64,042 · fundraising $21,347

• 23 · Insurance

  total $768,192 · program services $739,363 · management and general $21,621 · fundraising $7,208

• 24a · Other expenses: Performance fees

  total $16,027,497 · program services $15,612,503 · management and general $414,994

• 24b · Other expenses: Production expenses

  total $1,927,115 · program services $1,927,115

• 24c · Other expenses: Repairs & maintenance

  total $536,182 · program services $432,721 · management and general $9,636 · fundraising $93,825

• 24d · Other expenses: Misc Sarofim / Event

  total $244,716 · program services $244,716

• 24e · All other expenses

  total $298,584 · program services $293,035 · management and general $4,162 · fundraising $1,387

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,716 · end of year $6,831

• 2 · Savings and temporary cash investments

  beginning of year $4,447,981 · end of year $5,746,887

• 3 · Pledges and grants receivable

  beginning of year $5,396,158 · end of year $4,921,380

• 4 · Accounts receivable

  beginning of year $239,677 · end of year $282,272

• 9 · Prepaid expenses and deferred charges

  beginning of year $628,995 · end of year $806,250

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

  $91,881,220

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

  $37,214,742

• 10c · Land, buildings and equipment, net

  beginning of year $55,479,900 · end of year $54,666,478

• 11 · Investments: publicly traded securities

  beginning of year $15,364,164 · end of year $19,011,941

• 15 · Other assets

  beginning of year $34,327 · end of year $104,944

• 17 · Accounts payable and accrued expenses

  beginning of year $1,045,229 · end of year $979,396

• 19 · Deferred revenue

  beginning of year $986,742 · end of year $1,108,247

• 20 · Tax-exempt bond liabilities

  beginning of year $4,405,534 · end of year $3,718,267

• 25 · Other liabilities

  beginning of year $2,854,165 · end of year $4,434,846

• 27 · Net assets without donor restrictions

  beginning of year $71,338,799 · end of year $73,691,516

• 28 · Net assets with donor restrictions

  beginning of year $966,449 · end of year $1,614,711

The filer's explanations (Part III)

Part I, Line 7

The Hobby Center Board of Directors has established a methodology to consider bonus compensation for the President/CEO, and the President/CEO follows an established methodology for considering bonus compensation for other officials and highly compensated persons with final compensation reviewed and approved by the Executive Committee of the Board.