Saratoga Performing Arts Center Inc

Nonprofit profile at a glance

EIN
141466353
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Saratoga Springs, NY, USA
Phone
5185849330
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Performing Arts Centers

Official website

Reported finances

Revenue
$16,403,544
Expenses
$15,598,077
Assets
$36,134,759
Liabilities
$7,489,468

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

Leadership & pay

39 people listed

Executive titles in this filing

  • ELIZABETH SOBOL (PRESIDENT AND CEO)
  • CHRIS SHILEY (VICE PRESIDENT, ARTISTIC P)
  • DENNIS MOENCH (VICE PRESIDENT OF EDUCATION)
  • KRISTEN GODETTE VENTRE (VICE PRESIDENT OF COMMUNICATIONS)

Highest reported compensation

  • ELIZABETH SOBOL (PRESIDENT AND CEO): $656,374 total reported compensation
  • LESLIE COLEMAN-SMITH (GENERAL MANAGER): $271,306 total reported compensation
  • EDWARD JAY LAFOND CPA (CHIEF FINANCIAL OFFICER): $195,961 total reported compensation

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

Overview

Mission

For over 57 years, the saratoga performing arts center, in heart of the glorious spa state park in saratoga springs, ny, has been the summer home of New York city ballet and the philadelphia orchestra, and the location of more than a thousand performances of best-in-class artists across all genres. As it moves into the future, spac embraces its role as a steward of its place in the natural world and the transformative power of beauty in human lives. Spac works to harness that power from both human-made and natural sources to forge deep connections from person to person and person to planet through a future that embraces an ever-expanding definition of the arts including performing arts, visual arts, literary arts, culinary arts, healing arts and beyond. In its work on behalf of art, artists and community, spac works to educate, reveal, inspire, and serve the beauty in the world which connects, respects, and elevates all human beings.

What it reported doing in 2024

The presentation of the performing arts in order to sponsor, cultivate and develop an understanding and appreciation of such art by the center's members and the community. We present 70-80 events throughout the year, reaching over 350,000 people each year in the areas of dance, orchestra, chamber music, jazz, and rock and roll. Our facility is the summer home to the philadelphia orchestra, the New York city ballet, and the chamber music society of New York. Our educational initiatives, both in our on-campus school of the arts and through our outreach in public schools throughout the region bring the arts to more than 50,000 children each year.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 89
  • Accountability: 95
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.3%; rating input score 74
  • Program expense ratio: 75.3%; rating input score 75
  • Fundraising efficiency: $6.03 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.9%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 2.32; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 10.5%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 13.4% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 74.3% of revenue deployed · 75.3% of spending went to programs
  • Governance: 32 of 32 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $11.8M in reported program spending
  • Leadership: top reported pay $656K · 39 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.5M reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 9 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 25/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.