The Hobby Center for the Performing Arts

What it reported doing in 2024

Presented Programming and Rentals: The Hobby Center for the Performing Arts welcomes hundreds of thousands of audience members each year to diverse, high quality performing arts programming presented by the Hobby Center in three performance spaces across the campus including Sarofim Hall, Zilkha Hall and the Founders Club. The primary driver of impact is the Memorial Hermann Broadway at the Hobby Center series, a cornerstone of the Hobby Center's artistic programming, and one of the most successful Broadway Series in the country. See Schedule OIn addition to Broadway, during the 2024-2025 Season, the Hobby Center for the Performing Arts continued to expand its presented programming beyond the Broadway Series with a series of 34 performances including a dynamic and diverse mix of Houston based and touring artists across disciplines including theater, dance, and music. As a presenter, the Hobby Center books the artists directly and holds full responsibility for audience engagement. In addition to artistic programs curated and presented by the Hobby Center, the campus is also home to many performances produced and presented by partners, notably Principal Resident Company, Theater Under the Stars, who presents a full season of musical theater performances in Sarofim Hall each year, as well as a group of 12 Houston-based nonprofit arts organizations, known as the Hobby Center's Arts Partners, who present artistic programming primarily in Zilkha Hall. Additionally, many other users present performances across the campus through program-related rentals that features a wide variety of artistic, entertainment, and social events.

Financial Efficiency

• Mission deployment rate: 71.7%; rating input score 72
• Program expense ratio: 86.2%; rating input score 86
• Fundraising efficiency: $12.09 raised per $1 spent on fundraising; rating input score 43; 43rd 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: 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: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 95.7%; rating input score 96; 29th percentile among comparable filings
• Governance controls: 9 of 9 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: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 20.5%; rating input score 82; 82nd percentile among comparable filings
• Total-asset coverage ratio: 2.63; rating input score 71; 71st percentile among comparable filings
• Liabilities to assets ratio: 0.09; rating input score 76; 76th percentile among comparable filings
• Officer compensation ratio: 5.2%; rating input score 49; 49th percentile among comparable filings

Growth

• Program expense growth: 14.9% per year; rating input score 100; 83rd percentile among comparable filings
• Revenue growth: 14.7% per year; rating input score 100; 86th percentile among comparable filings
• Asset growth: 1.3% per year; rating input score 100; 15th percentile among comparable filings