2022-05-16T13:21:38-05:00 2021-06-30 420714325 RSM US LLP 6 S Patterson Blvd Dayton OH 45402 990 2020-07-01 237304942 Playhouse Square Foundation PLAY 2167714444 1501 Euclid Ave No 200 Cleveland OH 441152197 Patricia Gaul Interim COO 2167714444 2022-05-16 1 Patricia Gaul XXX-XX-XXXX Karen O Crim P00368385 9372980201 2022-05-16 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z Patricia Gaul 1501 Euclid Ave No 200 Cleveland OH 441152197 24771569 0 X www.playhousesquare.org X 1973 OH To operate and sustain a performing arts and entertainment center to enhance and develop the "Playhouse Square" district by restoring, renovating, and operating theaters and other related properties, and to provide arts education. 58 57 491 1450 698822 0 16973725 19527614 44689398 2886267 575725 42369 710426 2263408 62949274 24719658 0 0 0 0 13453701 10995260 0 0 1387441 45495363 21847679 58949064 32842939 4000210 -8123281 319310731 326085880 134310893 132259662 184999838 193826218 X Playhouse Square Foundation is a not-for-profit performing arts center whose mission is presenting and producing a wide variety of quality performing arts, advancing arts education, and creating a theater district that is a superior location for entertainment, business, and housing, thereby strengthening the economic vitality of the region. 0 0 6955643 0 0 Area development and real estate management services to retain and attract tenants to the district. 6169562 0 1867299 Theater Occupancy Costs - These overhead expenses were associated with maintaining and operating the facilities to allow for the variety of events presented by the foundation and services provided to the guests. 5695134 0 0 Theater depreciation includes depreciation of theaters, theater equipment, and improvements, as well as depreciation on administrative offices and amortization of loan fees. 7328836 0 2583554 Other Theatrical Activites & Debt Forgiveness 7328836 0 2583554 26149175 1 1 0 0 0 0 0 0 0 1 1 0 1 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 0 1 54 0 1 491 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 58 57 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OH X Tim McDonald 2167714444 1501 Euclid Ave No 200 Cleveland OH 441152197 Gina Vernaci President/CEO 40.00 0.00 X X 451138 0 42384 Amy G Brady Chair 0.50 0.00 X X 0 0 0 Rick Buoncore Vice Chair, Advancement 0.50 0.00 X X 0 0 0 Heather Lennox Vice Chair, Finance 0.50 0.00 X X 0 0 0 Paul J Dolan Vice Chair, Government Affairs 0.50 0.00 X X 0 0 0 Neil C Weinberger Vice Chair, Real Estate Development 0.50 0.00 X X 0 0 0 Sara Ellen Stashower Vice Chair, Sales & Marketing 0.50 0.00 X X 0 0 0 Kurt C Treu Vice Chair, Strategic Planning 0.50 0.00 X X 0 0 0 Brent D Ballard Vice Chair, Nominating & Goverance 0.50 0.00 X X 0 0 0 Mark Ross Secretary/Treasurer 0.50 0.00 X X 0 0 0 Margaret M Judd Vice Chair Community Engagement & Education 0.50 0.00 X X 0 0 0 Terry Adelman Trustee 0.50 0.00 X 0 0 0 Thomas W Adler Trustee 0.50 0.00 X 0 0 0 Himanshu Amin Trustee 0.50 0.00 X 0 0 0 Warren E Anderson Trustee 0.50 0.00 X 0 0 0 Gina Beredo Trustee 0.50 0.00 X 0 0 0 Dr Glenn R Brown Trustee until 5/16/21 0.50 0.00 X 0 0 0 Paul H Carleton Trustee 0.50 0.00 X 0 0 0 Scott Chaikin Trustee 0.50 0.00 X 0 0 0 John G Chapman Sr Trustee 0.50 0.00 X 0 0 0 Christopher M Connor Trustee 0.50 0.00 X 0 0 0 Bill Cosgrove Trustee 0.50 0.00 X 0 0 0 Uleto Fuentes Trustee 0.50 0.00 X 0 0 0 David S Goodman Trustee 0.50 0.00 X 0 0 0 James Graham Trustee 0.50 0.00 X 0 0 0 Lawrence H Hatch Trustee 0.50 0.00 X 0 0 0 Forrest D Hayes Trustee until 2/24/21 0.50 0.00 X 0 0 0 Amy J Held Trustee 0.50 0.00 X 0 0 0 Oliver C Henkel Jr Trustee for Life/Former Chair 0.50 0.00 X 0 0 0 Andrea Hogben Trustee 0.50 0.00 X 0 0 0 AJ Hyland Trustee 0.50 0.00 X 0 0 0 David Jacobs Trustee 0.50 0.00 X 0 0 0 Alex Johnson PhD Trustee 0.50 0.00 X 0 0 0 Louis G Joseph Trustee 0.50 0.00 X 0 0 0 Edward J Largent Trustee 0.50 0.00 X 0 0 0 John F Lewis Trustee until 10/11/20 0.50 0.00 X 0 0 0 Julien L McCall Trustee 0.50 0.00 X 0 0 0 Jim Merlino Trustee 0.50 0.00 X 0 0 0 Heath Monesmith Trustee 0.50 0.00 X 0 0 0 Jon H Outcalt Trustee 0.50 0.00 X 0 0 0 James R Pender Trustee 0.50 0.00 X 0 0 0 Rajiv K Prasad Trustee 0.50 0.00 X 0 0 0 James A Ratner Trustee 0.50 0.00 X 0 0 0 Monte Repasky Trustee 0.50 0.00 X 0 0 0 Sean Richardson Trustee 0.50 0.00 X 0 0 0 Harlan Sands Trustee 0.50 0.00 X 0 0 0 Luci Schey Trustee 0.50 0.00 X 0 0 0 William R Seelbach Trustee 0.50 0.00 X 0 0 0 David B Sewell Trustee 0.50 0.00 X 0 0 0 Daniel I Simon MD Trustee 0.50 0.00 X 0 0 0 Doug Spiker Trustee 0.50 0.00 X 0 0 0 Kevin Stein Trustee 0.50 0.00 X 0 0 0 Thomas Stevens National Trustee/Former Chair 0.50 0.00 X 0 0 0 David J Strauss Trustee until 12/31/20 0.50 0.00 X 0 0 0 KK Sullivan Trustee 0.50 0.00 X 0 0 0 Leila L Vespoli Trustee 0.50 0.00 X 0 0 0 Dominic A Visconsi Trustee 0.50 0.00 X 0 0 0 Daniel P Walsh Jr Trustee 0.50 0.00 X 0 0 0 Denise G Wells Trustee 0.50 0.00 X 0 0 0 Debra A Wert Trustee 0.50 0.00 X 0 0 0 Jeffrey J Wild Trustee 0.50 0.00 X 0 0 0 Darrell A Young Trustee 0.50 0.00 X 0 0 0 Art J Falco Senior Advisor 40.00 5.00 X 533301 0 42046 Patricia Gaul VP Finance & General Admin 40.00 5.00 X 307980 0 31715 Timothy Birch VP Sales & Technology 40.00 0.00 X 200433 0 14971 Renee Boerner Director of Ticket Sales 40.00 0.00 X 178695 0 23859 Autumn Kiser VP Ticket Sales & Marketing 40.00 0.00 X 199299 0 25311 Timothy Luli President PSF Management 40.00 0.00 X 226792 0 37224 Michelle Ryan Stewart VP Development 40.00 0.00 X 230550 0 38139 2328188 0 255649 14 0 1 0 Brewer Garrett Company 6800 Eastland Road Middleburg Heights OH 44130 HVAC Services 1251320 Hines One South Dearborn Street Suite 20 Chicago IL 60603 Contract/Management 645733 Gilbane Building Company 950 Main Ave 1410 Cleveland OH 44113 General Contractor 402019 Turner Construction 1301 East Ninth Street Suite 1400 Cleveland OH 44114 General Contractor 357936 Benesch 200 Public Square 2300 Cleveland OH 44114 Legal 146749 5 85384 8834687 10607543 1026816 19527614 Management Fees 531310 677219 677219 Garage/Parking 812930 664655 664655 Productions 711110 363352 363352 Theatrical Rental 532000 354533 354533 Other Theatrical Revenue 711190 343072 343072 483436 483436 2886267 42369 42369 28220 85384 28220 0 45294 23691 21603 21603 Debt Forgiveness 711110 2241805 2241805 2241805 24719658 4450853 698822 42369 759118 759118 7868618 4365404 2470431 1032783 501685 267785 165028 68872 1173404 729336 302820 141248 692435 322075 271801 98559 202039 202039 113287 113287 597951 357105 240846 254653 217388 8978 28287 535028 320361 200907 13760 94651 28093 64248 2310 1660038 1262481 397557 22617 22617 4675344 4675344 5695134 5695134 580375 510207 70168 Area Development 6110797 6110797 Garage Expense 615428 615428 Presentation Expense 612114 612114 Professional Developmen 78223 37506 39095 1622 32842939 26149175 5306323 1387441 29072985 35379899 46541043 60481165 14118380 12546594 5358144 6895206 47253332 0 7665 7344 2689824 2455882 152286047 76650058 78020585 75635989 94239618 127904947 2009155 2058242 0 2720612 319310731 326085880 5507810 7039860 30076625 31526750 74880000 74055000 21896335 17199281 1950123 0 0 2438771 134310893 132259662 X 162400098 168396479 22599740 25429739 184999838 193826218 319310731 326085880 X -8123281 15120313 1829348 X 0 1 X 1 1 1 X 18259460 19731142 16739577 16973725 19527614 91231518 18259460 19731142 16739577 16973725 19527614 91231518 3732561 87498957 454736 348957 487265 575725 42369 1909052 93140570 232369365 0.93940 0.91320 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 29902530 12097283 41999813 28472732 300000 1129798 29902530 27262564 1210168 28472732 24081098 326703 2854763 27262564 20442088 3639010 24081098 0.67540 0.11410 0.21050 0 0 7914850 7914850 111297920 64089800 47208120 25224147 12560258 12663889 7849130 7849130 75635989 Investment in Area Development 127904947 C 127904947 Lease Obligations 2438771 2438771 X Part V, Line 4: Playhouse Square Foundation's ("PSF") endowment consists of individual donor-restricted endowment funds established to support the mission of PSF. PSF's endowment includes both donor-restricted endowment funds and funds designated by the Board to function as endowments. Part X, Line 2: The Internal Revenue Service (IRS) has determined the Foundation to be exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. The Foundation adopted the Accounting for Uncertainty in Income Taxes Topic of the Accounting Standards Codification (ASC), which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the consolidated financial statements. Under this guidance, the Foundation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. At June 30, 2021 and 2020, management has evaluated the Foundation's tax positions and has concluded that the Foundation has taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with provisions of this guidance. Tax returns filed by the Foundation are subject to examination by the IRS up to three years from the filing date of each return. Golf 57860 32140 25720 25154 566 Virtual JBB 55744 53244 2500 2500 113604 85384 28220 27654 566 28220 0 X X X X 0 0 0 0 0 0 0 1 0 Art J Falco Senior Advisor 533301 0 0 0 0 0 21375 0 20671 0 575347 0 0 0 Gina Vernaci President/CEO 451138 0 0 0 0 0 21375 0 21009 0 493522 0 0 0 Patricia Gaul VP Finance & General Admin 307980 0 0 0 0 0 21375 0 10340 0 339695 0 0 0 Michelle Ryan Stewart VP Development 230550 0 0 0 0 0 17468 0 20671 0 268689 0 0 0 Timothy Luli President PSF Management 226792 0 0 0 0 0 16310 0 20914 0 264016 0 0 0 Autumn Kiser VP Ticket Sales & Marketing 199299 0 0 0 0 0 14971 0 10340 0 224610 0 0 0 Timothy Birch VP Sales & Technology 200433 0 0 0 0 0 14971 0 0 0 215404 0 0 0 Renee Boerner Director of Ticket Sales 105695 0 73000 0 0 0 13519 0 10340 0 202554 0 0 0 Part I, Line 7 Bonus awarded to Renee Boerner was based on sales attainment for Fiscal Year 2020. Discretionary bonuses were not awarded in Fiscal Year 2021 due to cost saving measures associated with the Foundation's response to COVID 19. See below for further discussion. Part II The Foundation was greatly impacted by the coronavirus outbreak (COVID-19). In March of 2020, governmental authorities placed a ban on mass gatherings and therefore there were no theatrical performances until June of 2021 after the ban was lifted. Only ticket revenue for virtual events was recognized during the ban. In addition, there were significant reductions in revenue to ancillary theater activities, parking and hotel operations. As a result, the Foundation took certain steps to contain costs, including curtailing non-essential activities and expenditures, and implementing salary reductions as well as reducing staffing through a series of furloughs and layoffs. The payroll information reported in Schedule J, Part II, reflects these cost saving measures, including salary reductions and the elimination of discretionary bonuses. A Cleveland Cuyahoga County Port Authority 341029691 2018-06-15 80203322 Refinance Series 2014 Bonds & Construction of Residence Tower 0 0 0 A 825000 80203322 4822131 1559031 24114218 49707942 1 0 0 0 A 1 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 Oswald Companies David Jacobs, Trustee, is President and Chief Operating Officer of Oswald 689010 David Jacobs, Trustee on the Playhouse Board, is President and Chief Operating Officer of Oswald. Playhouse paid Oswald $689,010 for insurance services. 0 The Brewer-Garrett Company Louis G. Joseph, Trustee, is President & CEO at The Brewer-Garrett Company 1251320 Louis G. Joseph, Trustee on the Playhouse Board, is President and CEO at The Brewer-Garrett Company. Playhouse paid Brewer-Garrett $1,251,320 for HVAC services. 0 X 24 1026816 Stock Price 0 0 1 1 Part I, Column (b): The organization is reporting the numbers of items received. Part I, Line 32b: Donated stock is transferred to Playhouse Square Foundation's ("PSF") brokerage account. PSF's broker then sells the stock and remits the proceeds to PSF. Form 990, Part VI, Section A, line 1 The Executive Committee is comprised of Trustees of the Foundation and consists of all the chairman of the other committees and several at large trustees. The Executive Committee can act with all of the powers of the trustees between Trustee Meetings. All of the action taken by the Executive Committee must be reported to the Trustees. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by the Controller and reviewed by the Chief Financial Officer and independent accountants. Each member of the governing body is provided a copy of the return for review prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Conflict of interest questionnaires are distributed and collected annually by the assistant to the president and reviewed by the vice president of finance. All trustees are required to provide responses and the vice president of finance confirms compliance with the policy. Trustees do not vote on issues which relate to existing conflicts. Form 990, Part VI, Section B, line 15 Compensation for the president is determined by the compensation committee made up of independent members of the board. Annual salary surveys are utilized as well as reviews of compensation for similar organizations and Form 990 of other organizations. The president and the compensation committee set compensation for key employees utilizing the same annual surveys and process. This compensation determination process is documented in the Compensation Committee's minutes. Form 990, Part VI, Section C, line 19 Documents are available upon request for the same period of time as set forth in IRC section 6104(d). Form 990, Part XI, line 9: Change in Fair Value of Swap 1,829,348. Playhouse Square Holding Company LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 341972190 Real Estate OH 5312576 34500340 Playhouse Square Foundation PSF Management Company LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 341900407 Real Estate Management OH 1366192 8073856 Playhouse Square Foundation Playhouse Square Hotel LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 821404398 Hotel Operations OH 3165015 14344853 Playhouse Square Foundation Playhouse Square Residential LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 825345761 Real Estate OH 2298090 116057750 Playhouse Square Foundation Playhouse Square Parking LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 825335622 Real Estate OH 330116 21618699 Playhouse Square Foundation PCS Hanna Building LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 562666434 Real Estate OH 4381362 25830477 Playhouse Square Foundation 1901 East 13th LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 274216095 Real Estate OH 3287536 21931040 Playhouse Square Foundation Playhouse Square 1305 Limited Partnership 1501 Euclid Avenue 200 Cleveland OH 441152197 271785756 Real Estate OH 429926 3940753 Playhouse Square Foundation Playhouse Square 1317 LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 454701283 Real Estate OH 625376 296504 Playhouse Square Foundation PS 1317 LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 454441227 Real Estate OH 0 0 Playhouse Square Foundation Playhouse Square Development Corp 1501 Euclid Avenue 200 Cleveland OH 44115 351249931 Real Estate Holding Company OH 501(c)(2) Playhouse Square Foundation 1 One Playhouse Square Investors Limited Partnership 1501 Euclid Avenue 200 Cleveland OH 441152197 010750118 Real Estate OH Playhouse Square Foundation Related -418855 11423274 0 1 0.50000 PSC Bulkley Building LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 341926357 Real Estate OH Playhouse Square Holdings LLC Related -1426253 9831931 0 1 0.99900 Playhouse Square Hotel LTD 1501 Euclid Avenue 200 Cleveland OH 441152197 341745315 Hotel Operations OH N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 PSC Bulkley Building LLC J 442590 Cash One Playhouse Square Investors Limited Partnership J 411970 Cash