2020-07-08T19:11:49-05:00 2019-06-30 420714325 RSM US LLP One South Wacker Dr Ste 800 Chicago IL 606063392 990 2018-07-01 237304942 Playhouse Square Foundation PLAY 2167714444 1501 Euclid Ave No 200 Cleveland OH 441152197 Patricia Gaul VP Finance & General Administration 2167714444 2020-06-30 1 Rebekuh Eley P01247672 3126343400 2020-06-30 98.226.130.40 2020-06-30 12:14:02 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 49D5A1596642B6DD837368B1E984A310120BB776 2018 2020-11-06 18:47:13Z Patricia Gaul 1501 Euclid Ave No 200 Cleveland OH 441152197 96532509 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. 54 52 834 2126 1030442 0 19731142 16739577 59593838 75154104 13675919 2063545 1571650 1464045 94572549 95421271 0 0 0 0 15125270 15233639 0 0 2008648 54620798 66677529 69746068 81911168 24826481 13510103 332866462 313630834 140798399 132943786 192068063 180687048 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 49854307 0 64908336 Entertainment Expenses - these include marketing and presentation expenses for the various presentations offered during the year. There were 1,082 events and approximately 1.2 million guests to the theaters during the year. Over 20,000 students and teachers attended children's theater performances due to subsidized buses or tickets. Over 90,000 students and adults participated in various programs hosted by Playhouse Square Foundation throughout the year. 11622581 0 11120303 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. 7068924 0 368055 Area development and real estate management services to retain and attract tenants to the district. 5542593 0 0 Theater depreciation includes depreciation of theaters, theater equipment, and improvements, as well as depreciation on administrative offices and amortization of loan fees. 5542593 0 0 74088405 1 1 0 0 0 0 0 0 0 1 1 0 1 0 0 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 1 1 1 0 0 1 90 0 1 834 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 54 52 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 James A Ratner Chair 0.50 0.00 X X 0 0 0 Mark Ross Vice Chair, Comm. Engagement 0.50 0.00 X X 0 0 0 Amy G Brady Vice Chair, Development 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 Lawrence H Hatch Vice Chair, Nominating & Governance 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 Christopher M Connor Vice Chair, Sales & Market 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 Secretary/Treasurer 0.50 0.00 X X 0 0 0 Daniel P Walsh Jr Trustee 0.50 0.00 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 John D Andrica Trustee 0.50 0.00 X 0 0 0 Rick Buoncore Trustee 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 Heath Monesmith Trustee 0.50 0.00 X 0 0 0 James Graham 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 Amy J Held 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 Margaret M Judd Trustee 0.50 0.00 X 0 0 0 Edward J Largent Trustee 0.50 0.00 X 0 0 0 Mary Lynn Laughlin Trustee 0.50 0.00 X 0 0 0 Paul Mancino Trustee 0.50 0.00 X 0 0 0 Jim Merlino 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 Deborah Read 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 William R Seelbach Trustee 0.50 0.00 X 0 0 0 Daniel I Simon MD Trustee 0.50 0.00 X 0 0 0 David J Strauss Trustee 0.50 0.00 X 0 0 0 KK Sullivan Trustee 0.50 0.00 X 0 0 0 Robert J Tomsich Trustee until 8/5/18 0.50 0.00 X 0 0 0 Luci Schey 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 Mort Weisberg 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 Gina Vernaci President & COO 40.00 0.00 X X 335989 0 67439 Art J Falco CEO 40.00 5.00 X X 531272 0 186874 Patricia Gaul VP Finance & General Admin 40.00 5.00 X 323043 0 56260 Timothy Birch VP Sales & Technology 40.00 0.00 X 218023 0 16333 Michelle Ryan Stewart VP Development 40.00 0.00 X 251569 0 65319 Allen Wiant VP Strategic Development 40.00 0.00 X 232700 0 49685 Timothy Luli President PSF Management 40.00 0.00 X 277627 0 41892 Autumn Kiser VP Ticket Sales & Marketing 40.00 0.00 X 194842 0 25352 2365065 0 509154 17 0 1 0 Gilbane Building Company 950 Main Ave 1410 Cleveland OH 44113 General Contractor Services 5679899 Hines One South Dearborn Street Suite 20 Chicago IL 60603 Contract/Management Services 2207028 Brewer Garrett Company 6800 Eastland Road Middleburg Heights OH 44130 HVAC Services 1081129 Turner Construction 1301 East Ninth Street Suite 1400 Cleveland OH 44114 General Contractor Services 956437 Jani-King Janitorial Services 9075 Town Centre Dr Ste 200 Broadview Heights OH 44147 Janitorial Services 308590 12 1139242 1690586 13909749 150382 16739577 Productions 711110 64908336 64908336 Other Theatrical Revenue 711190 4217155 4217155 Garage/Parking 812930 3455219 3455219 Management Fees 531310 1177042 368055 808987 Theatrical Rental 532000 792891 792891 603461 603461 75154104 487265 487265 1576280 0 1576280 1576280 1576280 1111033 1139242 1111033 0 1464250 205 1464045 1242590 221455 95421271 75587707 1030442 2063545 1190305 1190305 10252520 6930275 2189682 1132563 625997 388677 173711 63609 2367505 1563511 588500 215494 797312 495045 221250 81017 102816 102816 136265 136265 1121244 949557 171687 3534066 3064977 65825 403264 1201932 806238 347498 48196 122800 38703 81753 2344 2156721 1766115 390606 41624 41624 199510 199510 5542593 5542593 616516 566356 50160 Presentation Expense 46834330 46789330 45000 Area Development 3197164 3197164 Garage Expense 1157275 1157275 Professional Developmen 366271 245053 104057 17161 346402 346402 81911168 74088405 5814115 2008648 18009484 13086163 114744034 97800575 16421722 13719249 10058565 8575068 0 100000 7870 7665 2465504 2424847 146607392 70121584 80061512 76485808 89339710 99528692 1758061 1902767 332866462 313630834 11010713 9761616 44061160 38075446 74880000 74880000 8896403 8276601 1950123 1950123 140798399 132943786 X 162248146 158311585 24527429 17082975 5292488 5292488 192068063 180687048 332866462 313630834 X 13510103 2223028 -1688608 -25425538 X 0 1 X 1 0 X 31717527 16097720 18259460 19731142 16739577 102545426 31717527 16097720 18259460 19731142 16739577 102545426 15407120 87138306 323999 188122 454736 348957 487265 1803079 104348505 269903678 0.83510 0.75950 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 27262564 1210168 28472732 24081098 326703 2854763 27262564 20442088 3639010 24081098 21550135 -608047 500000 20442088 18827702 2000000 722433 21550135 0.68650 0.15780 0.15570 0 0 7914850 7914850 113198605 60168550 53030055 25306856 9953034 15353822 187081 187081 76485808 Investment in Area Development 99528692 C 99528692 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, 2019 and 2018, 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. Gala 1966073 1000968 965105 122677 302121 367648 172659 Ball 226957 104925 122032 10952 86769 6045 18266 1 57245 33349 23896 12771 11125 2250275 1139242 1111033 146400 388890 373693 202050 1111033 0 X X X X 0 1 0 0 0 0 0 1 0 Gina Vernaci President & COO 255989 0 55000 0 25000 0 45625 0 21814 0 403428 0 25000 0 Art J Falco CEO 456272 0 75000 0 0 0 165625 0 21249 0 718146 0 0 0 Patricia Gaul VP Finance & General Admin 243043 0 55000 0 25000 0 45625 0 10635 0 379303 0 25000 0 Timothy Birch VP Sales & Technology 168023 0 50000 0 0 0 16333 0 0 0 234356 0 0 0 Michelle Ryan Stewart VP Development 171569 0 55000 0 25000 0 44070 0 21249 0 316888 0 25000 0 Allen Wiant VP Strategic Development 172700 0 60000 0 0 0 17724 0 31961 0 282385 0 0 0 Timothy Luli President PSF Management 241627 0 36000 0 0 0 20254 0 21638 0 319519 0 0 0 Autumn Kiser VP Ticket Sales & Marketing 161634 0 33208 0 0 0 14717 0 10635 0 220194 0 0 0 Part I, Line 4b Patricia Gaul, Gina Vernaci, and Michelle Ryan Stewart participated in a deferred income program in which participants are awarded deferred compensation and 1/3 of the award is vested each year; the deferred compensation is fully-vested and paid at the end of the third year. In 2018, Patricia Gaul received $25,000, Gina Vernaci received $25,000, and Michelle Ryan Stewart received $25,000 through this deferred income program. Part I, Line 7 Bonuses awarded to Art J. Falco, Patricia Gaul, Gina Vernaci, Timothy Birch, Michelle Ryan Stewart, Allen Wiant, Timothy Luli, and Autumn Kiser were discretionary. Bonuses are based on some financial and nonfinancial goals, overall performance as judged by a manager, and overall performance of Playhouse Square Foundation. A Cleveland Cuyahoga County Port Authority 341029691 2018-06-15 80203322 Refinance Series 2014 Bonds & Construction of Residence Tower 0 0 0 A 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 Art Falco CEO Advance X 100000 100000 0 1 1 100000 Oswald Companies David Jacobs, Trustee, is President and Chief Operating Officer of Oswald 545439 David Jacobs, Trustee on the Playhouse Board, is President and Chief Operating Officer of Oswald. Playhouse paid Oswald $545,939 for insurance services. 0 The Brewer-Garrett Company Louis G. Joseph, Trustee, is President & CEO at The Brewer-Garrett Company 825778 Louis G. Joseph, Trustee on the Playhouse Board, is President and CEO at The Brewer-Garrett Company. Playhouse paid Brewer-Garrett $825,778 for HVAC services. 0 X 13 150382 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: Exercise of put option -25,425,538. Form 990, Part XI, Line 8, Prior Period Adjustment: The Foundation exercised its put option to purchase PS 1305 Ltd, PSC Hanna Building LLC, and 1901 E 13th LLC, resulting in the transfer of interest of the noncontrolling members, resulting in adjustments of $25,425,538. In addition, the Foundation's adoption of ASU 2015-14 resulted in an adjustment to beginning net assets at July 1, 2018 in the amount of $1,688,608. Playhouse Square Holding Company LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 341972190 Real Estate OH 7575438 40896313 Playhouse Square Foundation PSF Management Company LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 341900407 Real Estate Management OH 1726897 6961981 Playhouse Square Foundation PSF LL1 LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 274112189 Real Estate OH 718812 0 Playhouse Square Foundation PS 1305 LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 271865474 Real Estate OH 0 0 Playhouse Square Foundation PSF Blocker LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 480824283 Real Estate OH 0 521206 Playhouse Square Foundation Playhouse Square Hotel LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 821404398 Hotel Operations OH 8394369 16327133 Playhouse Square Foundation Playhouse Square Residential LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 825345761 Real Estate OH 0 52760193 Playhouse Square Foundation Playhouse Square Parking LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 825335622 Real Estate OH 0 12658504 Playhouse Square Foundation Middough NMTC Investment Fund LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 830949149 Real Estate OH 371241 0 Playhouse Square Foundation PCS Hanna Building LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 562666434 Real Estate OH 5048465 30419670 Playhouse Square Foundation 1901 East 13th LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 274216095 Real Estate OH 487697 25100506 Playhouse Square Foundation Playhouse Square 1305 Limited Partnership 1501 Euclid Avenue 200 Cleveland OH 441152197 271785756 Real Estate OH 572723 4739092 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 -560315 10617623 0 1 0.50000 Playhouse Square 1317 LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 454701283 Real Estate OH Playhouse Square Foundation Related 61 4333322 0 1 0.00100 PSC Bulkley Building LLC 1501 Euclid Avenue 200 Cleveland OH 441152197 341926357 Real Estate OH Playhouse Square Holdings LLC Related 12415 -191 0 1 0.99900 Playhouse Square Hotel LTD 1501 Euclid Avenue 200 Cleveland OH 441152197 341745315 Hotel Operations OH N/A PS 1901 LLC 1501 Euclid Avenue Suite 200 Cleveland OH 441152197 274102765 Real Estate OH Playhouse Square Foundation C 1.00000 1 PS 1317 LLC 1317 Euclid Avenue Cleveland OH 44115 454441227 Real Estate OH Playhouse Square Foundation C 60 0.00100 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 PSC Bulkley Building LLC J 193923 Cash One Playhouse Square Investors Limited Partnership J 175138 Cash