The Smith Center For The Performing Arts in Las Vegas, Nevada (NV)

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The Smith Center For The Performing Arts
Employer Identification Number (EIN)880361875
Name of OrganizationThe Smith Center For The Performing Arts
Address361 Symphony Park Ave, Las Vegas, NV 89106-1409
SubsectionCharitable Organization
Ruling Date02/1999
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$479,322,792
Amount of Income$40,577,176
Form 990 Revenue Amount$34,693,744
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Performing Arts Centers


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Amount of income in 2012: $40,577,176
The Smith Center For The Performing Arts: 

 $40,577,176
Other organizations performing similar types of work: 

 $104,222

Assets in 2012: $479,322,792
The Smith Center For The Performing Arts: 

 $479,322,792
Other organizations performing similar types of work: 

 $47,885

Expenses in 2007: $1,188,117
This organization: 

 $1,188,117
Other organizations performing similar types of work: 

 $1,368,292

Income to expenses ratio in 2007: 14.7
This organization: 

 14.7
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 14.8%
This organization: 

 14.8%
Other organizations performing similar types of work: 

 73.1%

Number of employees in 2007: 9
The Smith Center For The Performing Arts: 

 9
Other organizations performing similar types of work: 

 18

Employees paid over $50,000 in 2007: 33.3%
This organization: 

 33.3%
Other organizations performing similar types of work: 

 15.8%

Grants share in income in 2007: 94.9%
This organization: 

 94.9%
Other organizations performing similar types of work: 

 52.8%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20062007
Total revenue$66,242,290$17,447,170
Contributions, gifts, grants, and similar amounts received$66,005,659$16,564,297
Contributions to donor advised funds$0$0
Direct public support$58,380,967$16,564,297
Indirect public support$0$0
Government contributions (grants)$7,624,692$0
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$237,514$882,873
Dividends and interest from securities$0$0
Net rental income or (loss)$0$0
Gross rents$0$0
Less: rental expenses$0$0
Other investment income$0$0
Gain or (loss) from sales of assets other than inventory$-883$0
Gross amount from sales of assets other than inventory$456,173$0
Less: cost or other basis and sales expenses$457,056$0
Net income or (loss) from special events and activities$0$0
Gross revenue$0$0
Less: direct expenses other than fundraising expenses$0$0
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$0$0
Total expenses$715,123$1,188,117
Program services$63,120$176,407
Management and general$495,426$640,795
Fundraising$156,577$370,915
Payments to affiliates$0$0
Net assets or fund balances at end of year$67,252,451$83,511,504
Excess or (deficit) for the year$65,527,167$16,259,053
Net assets or fund balances at beginning of year$860,055$67,252,451
Other changes in net assets or fund balances$865,229$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,188,117$176,407$640,795$370,915
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$440,481$0$310,674$129,807
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$210,344$47,250$17,827$145,267
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$14,822$0$11,135$3,687
Payroll taxes$47,110$4,405$21,718$20,987
Professional fundraising fees$0$0$0$0
Accounting fees$19,622$0$19,622$0
Legal fees$1,810$1,008$802$0
Supplies$22,095$1,107$19,330$1,658
Telephone$11,424$907$10,517$0
Postage and shipping$6,173$290$2,900$2,983
Occupancy$106,860$0$106,860$0
Equipment rental and maintenance$9,466$2,500$6,966$0
Printing and publications$28,592$175$0$28,417
Travel$123,437$109,154$13,559$724
Conferences, conventions, and meetings$10,334$2,576$4,283$3,475
Interest$0$0$0$0
Depreciation, depletion, etc.$32,531$0$22,984$9,547
Other expenses not covered above$103,016$7,035$71,618$24,363
Balance Sheets
20062007
Total assets$68,348,785$85,982,739
Cash - non-interest-bearing$16,123,028$28,997,612
Savings and temporary cash investments$208,709$145,020
Accounts receivable less allowance for doubtful accounts$8,505$8,505
Pledges receivable less allowance for doubtful accounts$9,372,175$12,082,140
Grants receivable$39,405,162$29,070,324
Receivables from current and former officers, directors, trustees, and key employees$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$21,729$22,055
Investments - publicly-traded securities$0$0
Investments - other securities$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0
Investments - other$0$0
Land, buildings, and equipment less accumulated depreciation$3,209,477$14,597,883
Other assets, including program-related investments$0$1,059,200
Total liabilities$1,096,334$2,471,235
Accounts payable and accrued expenses$1,096,334$1,973,223
Grants payable$0$0
Deferred revenue$0$0
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$0$0
Other liabilities$0$498,012
Total liabilities and net assets/fund balances$68,348,785$85,982,739
Total net assets or fund balances$67,252,451$83,511,504
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20062007
Total revenue$66,242,290$17,447,170
Total revenue, gains, and other support per audited financial statements$66,243,410$17,450,910
Other expenses$1,120$3,740
Net unrealized gains on investments$0$0
Donated services and use of facilities$1,120$3,740
Recoveries of prior year grants$0$0
Other$0$0
Other revenue$0$0
Investment expenses$0$0
Other$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20062007
Total expenses$715,123$1,188,117
Total expenses and losses per audited financial statements$716,246$1,191,857
Other revenue$1,123$3,740
Donated services and use of facilities$1,120$3,740
Prior year adjustments$0$0
Losses$0$0
Other$3$0
Other expenses$0$0
Investment expenses$0$0
Other$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$211,731$0$0
40$84,520$0$0
38$144,230$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings13
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20069
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$882,873$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$882,873$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
20052006
Total$1,233,366$4,331,064
Gifts, grants, and contributions received$1,223,998$3,202,951
Membership fees received$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$9,368$237,514
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$890,599
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0
Other income$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$25,823,585
Contributions, Gifts, Grants and Other Similar Amounts$25,588,442
Program Service Revenue$24,485
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$225,351
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net loss from sales of assets other than inventory$-14,693
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $0
Less: cost or other basis and sales expenses (Securities / Other)$14,693 / $0
Gain or (loss) (Securities / Other)$-14,693 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$25,040,253
Compensation of current officers, directors, trustees, and key employees$1,010,275
Other salaries and wages$996,852
Payroll taxes$148,378
Professional fundraising services$0
Other$22,884,748
Balance Sheet (for 2011)
Total assets$196,157,551
Total liabilities$27,214,717
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$27,214,717
Total net assets or fund balances$168,942,834
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$134,988,986
Gifts, grants, contributions, and membership fees received$132,692,022
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$2,296,964
Gross receipts from related activities, etc.$24,485
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Kauffman Center For The Performing Arts1601 Broadway St, Kansas City, MO 64108-1229MO2000-01$56,780,495
2The Smith Center For The Performing Arts361 Symphony Park Ave, Las Vegas, NV 89106-1409NV1999-02$40,577,176
3City Center Of Music & Drama Inc70 Lincoln Ctr Plaza, New York, NY 10023-6548NY1944-08$9,138,938
4Maltz Jupiter Theatre Inc1001 E Indiantown Rd, Jupiter, FL 33477-5110FL2001-03$6,659,613
5Luther F Carson Four Rivers Center Inc100 Kentucky Ave, Paducah, KY 42003-1500KY1996-11$5,364,413
6Mountain Laurel Center For ThePO BOX G BUSHKILL RD, Bushkill, PA 18324PA2000-08$3,360,259
7Virginia Performing Arts Foundation600 East Grace Street, Richmond, VA 23219-1891VA2001-12$1,660,628
8Carolina Theatre Of Greensboro Inc310 S Greene St, Greensboro, NC 27401-2616NC2004-02$1,264,281
9Sundog Theater IncPO BOX 10183, Staten Island, NY 10301-0183NY2003-05$380,390
10Moving On Entertainment IncPO BOX 511, Anaheim, CA 92815-0511CA2003-07$280,987
11Theatre Artists Studio Inc4848 E Cactus Rd Ste 406, Scottsdale, AZ 85254-4182AZ2001-01$157,513
12Prairie Fire Theatre415 N Center, Bloomington, IL 61701IL1999-05$63,139
13Jacksonville Centre Of The Arts Inc2049 N Pearl St, Jacksonville, FL 32206-3678FL2001-07$55,842
14North Carolina Performing Arts Center At Charlotte Foundation130 N Tryon St, Charlotte, NC 28202-2100NC1988-06$22,515,497
15Bergen Performing Arts Center Inc, Bergenpac30 N Van Brunt St, Englewood, NJ 07631-2707NJ2003-10$6,135,326
16Palace Theater Group Inc100 E Main St, Waterbury, CT 06702-2312CT2004-07$4,985,916
17Howard Theatre Restoration Inc620 T St Nw, Washington, DC 20001-5117DC2007-09$4,160,671
18Bardavon 1869 Opera House Inc, 186935 Market St, Poughkeepsie, NY 12601-3214NY1977-03$3,423,097
19Spotlight Youth Theater Inc755 Industrial Dr, Cary, IL 60013-1962IL1999-07$3,014,580
20Fonner Park Exposition And Events Center IncPO BOX 490, Grand Island, NE 68802-0490NE2000-02$2,921,242
21Atlas Preforming Arts Center1614 20th St Nw, Washington, DC 20009-1001DC2002-01$2,886,162
22Colonial Theatre Association Inc111 South St, Pittsfield, MA 01201-6174MA2000-05$1,875,579
23Belcourt Theatre Inc2102 Belcourt Ave, Nashville, TN 37212-3504TN1999-08$1,649,826
24Community Center For The ArtsPO BOX 860, Jackson, WY 83001-0860WY1995-11$1,631,176
25Avalon Theatre Project Inc5612 Connecticut Ave Nw, Washington, DC 20015-2604DC2002-04$1,584,535
26Fox Theater818 W Riverside, Spokane, WA 99201-0916WA2001-04$1,442,796
27Childrens Studio School Public Chrtr Schl Of The Arts & Archtctr1301 V St Nw, Washington, DC 20009-4413DC2000-04$1,388,768
28Ars Nova Theater Inc511 W 54th St, New York, NY 10019-5014NY2006-06$1,350,313
29Academy Of Fine Arts Inc600 Main St, Lynchburg, VA 24504-1322VA2000-08$1,253,885
30Corning Opera House Cultural Center710 Davis Avenue, Corning, IA 50841-1449IA2003-11$1,157,394
Number of organizations performing similar types of work
Alaska1
Alabama5
Arkansas5
Arizona12
California88
Colorado17
Connecticut6
District of Columbia9
Florida32
Georgia12
Hawaii3
Iowa6
Idaho5
Illinois34
Indiana7
Kansas11
Kentucky5
Louisiana8
Massachusetts16
Maryland19
Maine11
Michigan20
Minnesota12
Missouri13
Mississippi7
Montana4
North Carolina22
North Dakota1
Nebraska4
New Hampshire4
New Jersey19
New Mexico8
Nevada6
New York63
Ohio23
Oklahoma5
Oregon13
Pennsylvania26
Rhode Island5
South Carolina6
South Dakota2
Tennessee12
Texas26
Utah5
Virginia15
Vermont4
Washington18
Wisconsin15
West Virginia5
Wyoming2
Total677

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