Tampa Bay Performing Arts Center Foundation Inc

What it reported doing in 2024

The foundation launched its $100 million "boundless capital campaign" towards the end of its fiscal year 2018/2019 as part of its mission to support the straz center as it continues to grow in the tampa bay region. This campaign is comprised of 2 parts: $80 million master plan expansion project and $20 million to increase endowment. The foundation is collecting campaign pledges and reimbursing the center for master plan expenditures. The master plan commenced its design phase in 2018/2019 with actual construction started in april 2025 and anticipated completion in 2027.(continued on schedule o)through its oversight of long-term assets and the endowment fund, the foundation provided the center financial stability in fiscal year 2024/2025 and helped maintain the center's high standards of excellence and creativity as well as providing patrons the ability to continue to enjoy the center's programs.foundation endowment by the numbers:$66.6 million in gifts and pledges has been committed to the straz center endowment from both the private and public sectors through outright gifts and planned gifts.in 2024/2025, a total of $1.8 million of endowment earnings were distributed to the straz center's operating budget to support artistic excellence, arts education, and our state-of-the-art facilities.impact of the endowment: income from our endowment allows the straz center to provide the highest level of artistic programming while also ensuring that young talent flourishes in our community. It also supports vital capital projects that help the straz center remain an industry standard. Endowment funds provide support through endowment earnings in the areas of artistic excellence, campus improvements, arts education, opera tampa, outreach and community education, arts education scholarships, ticket subsidies, and more. This financial stability allows straz center to advance its mission and impact on the community.artistic excellence: our artistic programming is once again thriving with broadway and our grand opera leading the way at the straz center. Once again, we have our morsani hall crowd thrilled to see a broadway spectacular, a jaeb theater audience enjoying something left of center, and our patel studios full of young actors, dancers and musicians and the next generation's performers.in our fiscal year 2024/2025 (24/25) season, we held 1,541 performances and events, served by 764 annual volunteers dedicating over 70,807 service hours. We extended our outreach to the community by providing 40,613 complimentary tickets.arts education: to us, arts education is not about making new professional artists. It's about giving young people the chance to develop competencies that will help them succeed in school, work, and life; to grow into good citizens and good neighbors; to dream and achieve better futures.the patel conservatory continues to flourish with high enrollment, great attendance at our professionally produced productions and welcomed students from pre-k to golden age. Curriculum includes sequential instruction in music, dance and theater, vocal arts, musical theater, playwriting, improvision and storytelling.placing arts education within reach of all tampa bay students is something we can't do without community donors and support. This year, with your help, conservatory students were served in on-site classes, camps, intensives, and workshops in over 699 instruction hours. In addition, over 918 regional and national students visited and participated in events or classes at our campus.performance opportunities are an important part of arts education. Patel conservatory students stepped onto straz center stages to showcase their skills in 21 student productions throughout the school year, gaining valuable experiences that reflect professional applications.scholarships: since our scholarship program launched in 2007, millions of dollars have been awarded to deserving students with limited resources - many through endowed scholarship

Financial Efficiency

• Mission deployment rate: 75.6%; rating input score 76
• Program expense ratio: 85.8%; rating input score 86
• Fundraising efficiency: $22.11 raised per $1 spent on fundraising; rating input score 59; 59th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• 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: 93.3%; rating input score 93; 26th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • 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: 25.9%; rating input score 86; 86th percentile among comparable filings
• Total-asset coverage ratio: 9.11; rating input score 90; 90th percentile among comparable filings
• Liabilities to assets ratio: 0.03; rating input score 87; 87th percentile among comparable filings
• Officer compensation ratio: 1.7%; rating input score 80; 80th percentile among comparable filings

Growth

• Program expense growth: 13.5% per year; rating input score 100; 81st percentile among comparable filings
• Revenue growth: 8.1% per year; rating input score 100; 66th percentile among comparable filings
• Asset growth: 5.7% per year; rating input score 100; 40th percentile among comparable filings