Broward Performing Arts Foundation Inc

Nonprofit profile at a glance

EIN
592657043
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Fort Lauderdale, FL, USA
Phone
9544683298
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$10,099,250
Expenses
$8,883,121
Assets
$32,090,106
Liabilities
$3,749,421

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

45 people listed

Executive titles in this filing

  • LISA KITEI (PRESIDENT)

Highest reported compensation

  • LISA KITEI (PRESIDENT): $388,987 total reported compensation
  • PETER W NEIROUZ (DIR. OF DEV): $206,464 total reported compensation
  • JUDITH CARNEY (DIR. OF DEVE): $150,460 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The broward performing arts foundation, inc.'s mission is to sustain, develop and secure the future of the performing arts in broward county, Florida, primarily by providing support for the programming, educational activities, operations and capital development of the broward center for the performing arts.

What it reported doing in 2024

The broward performing arts foundation supports high-quality artistic and cultural programming, including musical performances spanning a wide range of genres, theater, dance, comedy and more, at the broward center for the performing arts and its affiliated venue, the parker. In addition to supporting programming, the foundation raises capital funds to sustain the venues and recently completed two capital campaigns: the 60-million encore capital campaign to expand, renovate and revitalize the broward center and the 30-million campaign for the parker to restore parker playhouse. The foundation also maintains an endowment fund designed to provide a reliable source of income in perpetuity to support mission-driven activities. The broward performing arts foundation supports a wide variety of educational programming at the broward center, which constitutes the largest free arts-in-education program in the country and has served more than 3.8 million students to date. Through the student enrichment through the arts (seas) program, more than 100,000 public school k-12 students each year have the opportunity to attend educational and cultural performances at the broward center and the parker free of charge and participate in corresponding curriculum-based activities that help extend the learning experience beyond the theater seats. The reading readiness through the theater program brings more than 2,000 at-risk pre-k students and their families each year to see live literature-based performances together at broward center venues. A leader in arts accessibility, the center has also been recognized for the impact of its "sensory-inclusive" theatrical performances, classes and other programming aimed at increasing access to and engagement with the arts for individuals with developmental disabilities and other special needs.

Operating model

Revenue model
Donor-supported. 78% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 91% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 87
  • Accountability: 100
  • Sustainability: 67
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.7%; rating input score 74
  • Program expense ratio: 81.6%; rating input score 82
  • Fundraising efficiency: $7.12 raised per $1 spent on fundraising; rating input score 29; 29th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 3.61; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 9.7%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: -12.9% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -7% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 73.7% of revenue deployed · 81.6% of spending went to programs
  • Governance: 41 of 41 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $7.2M in reported program spending
  • Leadership: top reported pay $389K · 45 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 29/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.