2016-08-10T11:35:38-05:00 2015-09-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 1000 CHARLOTTE NC 28204 990 2014-10-01 593524613 TAMPA BAY PERFORMING ARTS CENTER FOUNDATION INC TAMP 8132221044 1010 NORTH WC MACINNES PLACE TAMPA FL 33602 JUDITH LISI CEO 8132221044 2016-07-27 1 WILLIAM F BECKER JR P00076178 7043771678 2014 2016-12-15 16:53:06Z JUDITH LISI 1010 NORTH WC MACINNES PLACE TAMPA FL 33602 17449597 0 X N/A X 1997 FL TO INSPIRE INDIVIDUALS, CORPORATIONS AND FOUNDATIONS TO ESTABLISH A PERMANENT LEGACY AND INVEST IN TAMPA BAY PERFORMING ARTS CENTER'S EDUCATION PROGRAMS. 18 17 0 17 0 0 753036 1155487 0 0 1514975 3177439 0 0 2268011 4332926 1438587 1413474 0 0 0 0 0 0 28690 576264 600091 2014851 2013565 253160 2319361 40284096 38808085 3556995 2533363 36727101 36274722 X SEE SCHEDULE O 0 0 1413474 1413474 IN FISCAL YEAR 2014/2015, IN CARRYING OUT ITS MISSION IN SUPPORTING THE TAMPA BAY PERFORMING ARTS CENTER, INC. (THE "CENTER") THROUGH DISBURSEMENT OF (A) APPROVED SPENDING POLICY DISTRIBUTION GRANTS AND (B) GRANTS OF GIFTS RECEIVED FROM OTHER FOUNDATIONS TO SUPPORT CENTER EDUCATION AND OPERA PROGRAMS, ARTISTIC INITIATIVES, FACILITY IMPROVEMENTS AND GENERAL OPERATIONS.SPENDING POLICY DISTRIBUTIONS ARE BASED ON THE RELATED ESTABLISHED BOARD POLICY TO PROVIDE A CONSISTENT PROCESS TO MOVE FUNDS FROM THE ENDOWMENT TO OPERATING FUNDS ON AN ANNUAL OR APPROVED BASIS. GIFTS RECEIVED BY THE FOUNDATION AND TRANSFERRED TO THE CENTER FROM OTHER FOUNDATIONS ARE APPROVED BY THE FOUNDATION BOARD OR PER DONOR REQUEST.WITH THE FOUNDATION SERVING AS THE ENDOWMENT FUND AND SUPPORT FOR THE CENTER, THE FOUNDATION PROVIDED FINANCIAL STABILITY IN FISCAL YEAR 2014/2015 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. 1413474 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 18 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X MARY BETH ROSSI 8132221044 1010 N WC MACINNES PLACE TAMPA FL 336023720 R KENT BAILEY BOARD DIRECTOR 1.00 0.00 X 0 0 0 DON DEFOSSET BOARD DIRECTOR 1.00 0.00 X 0 0 0 JOHN JAEB BOARD DIRECTOR 1.00 0.00 X 0 0 0 HELEN KERR BOARD DIRECTOR 1.00 1.00 X 0 0 0 JACK KIRKLAND BOARD DIRECTOR 1.00 1.00 X 0 0 0 AD SANDY MACKINNON BOARD DIRECTOR 1.00 1.00 X 0 0 0 FRANK L MORSANI BOARD DIRECTOR 1.00 1.00 X 0 0 0 FRANK J RIEF III BOARD DIRECTOR 1.00 0.00 X 0 0 0 GARY SASSO BOARD DIRECTOR 1.00 1.00 X 0 0 0 MARTIN L SILBIGER BOARD DIRECTOR 1.00 1.00 X 0 0 0 DAVID A STRAZ JR BOARD DIRECTOR 1.00 0.00 X 0 0 0 SUSAN SYKES BOARD DIRECTOR 1.00 1.00 X 0 0 0 DON WALLACE BOARD DIRECTOR 1.00 1.00 X 0 0 0 BILL WEST BOARD DIRECTOR 1.00 1.00 X 0 0 0 JERRY WILLIAMS BOARD DIRECTOR 1.00 0.00 X 0 0 0 HINKS SHIMBERG CHAIRMAN 1.00 1.00 X X 0 0 0 WILLIAM E STARKEY TREASURER 1.00 0.00 X X 0 0 0 JUDITH LISI CEO (CENTER) 8.00 40.00 X X 0 511049 35143 JUDITH LISI- SEE SCH J PART III DEFERRED COMPENSATION 8.00 40.00 X X 0 65787 137435 LORRIN SHEPARD COO (CENTER) 8.00 40.00 X 0 156595 18774 MARY BETH ROSSI CFO (CENTER) 8.00 40.00 X 0 204687 23590 0 938118 214942 0 0 1 0 MERRILL LYNCH 101 E KENNEDY BLVD TAMPA FL 33602 INVESTMENT MANAGEMENT SERVICES 166285 1 1155487 74794 1155487 794030 794030 15500080 13116671 2383409 2383409 2383409 4332926 0 0 3177439 1413474 1413474 68 68 217902 217902 14021 6323 7698 2709 2709 663 663 26436 26436 CENTER ADMIN FEES 312357 312357 OTHER 25935 5674 20261 2013565 1413474 571401 28690 211822 187081 1089641 811935 13080285 11807756 25041066 25218974 861282 782339 40284096 38808085 112758 99700 1843166 1574842 1601071 858821 3556995 2533363 X 5663581 7891543 3413174 405768 27650346 27977411 36727101 36274722 40284096 38808085 2319361 -2771740 0 X X 0 1 X 1 0 X X 1 TAMPA BAY PERFORMING ARTS CENTER INC 592037085 7 1 1413474 0 1 1413474 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART IV, SECTION C, LINE 1: FIFTY PERCENT OF THE FOUNDATION'S BOARD OF DIRECTORS ARE ALSO BOARD TRUSTEES ON THE TAMPA BAY PERFORMING ARTS CENTER INC. DBA DAVID A. STRAZ JR. CENTER FOR THE PERFORMING ARTS. THE CONTROL AND MANAGEMENT BY THESE DIRECTORS IS VESTED AS TRUSTEES OF THE TBPAC CENTER INC., GIVEN THEY ATTEND THE RESPECTIVE BOARD MEETINGS ON EACH ENTITY AND HAVE VOTING RIGHTS. IN ADDITION, THE PRESIDENT AND CEO OF THE TBPAC CENTER INC., IS ALSO A BOARD DIRECTOR OF THE TBPAC FOUNDATION. ACCORDINGLY, FROM BOTH A CENTER AND FOUNDATION BOARD GOVERNANCE OVERSIGHT, AN ADEQUATE LEVEL OF VESTING AND SUPPORT BY BOTH BOARDS FOR ANY FUNDING REQUESTS THAT THE CENTER MAY HAVE GIVEN THE ONLY MISSION OF THE FOUNDATION IS TO SUPPORT THE CENTER. FOR THE CURRENT 2014 TAX YEAR THE CENTER'S FUNDING REQUIREMENTS FROM THE FOUNDATION BOARD CONSIST OF A) ANNUAL ADMINISTRATIVE SERVICE FEES - FOR ADMINISTRATIVE SUPPORT PROVIDED BY THE CENTER TO THE FOUNDATION THROUGH AN ARMS LENGTH SERVICE AGREEMENT AND B) ANNUAL SPENDING POLICY DISTRIBUTION (2-5% OF UNRESTRICTED ENDOWMENT PORTFOLIO INVESTED EARNINGS). IF THERE ARE ANY ONE TIME REQUESTS FROM THE CENTER TO THE FOUNDATION FOR SPECIAL FUNDING NEEDS, THE REQUEST IS DISCUSSED WITH THE CENTER'S BOARD FINANCE AND EXECUTIVE COMMITTEES AND THEN BROUGHT FORWARD TO THE TREASURER AND FOUNDATION BOARD FOR CONSIDERATION AND APPROVAL. IN ADDITION, NOTE THE FOUNDATION'S INVESTMENT COMMITTEE, THE ONLY STANDING BOARD COMMITTEE OF THE FOUNDATION, IS COMPRISED OF BOTH BOARD TRUSTEES OF THE CENTER AND THE FOUNDATION. THIS COMMITTEE OVERSEES BOTH THE CENTER AND FOUNDATION'S ENDOWMENT PORTFOLIOS, WITH THE PUBLIC ENDOWMENT GRANT MATCH FUNDS RESIDING IN THE CENTER'S PORTFOLIO. THEREFORE, THE INVESTMENT COMMITTEE IS COMPRISED OF A TOTAL OF 6 BOARD MEMBERS, COMING FROM BOTH BOARDS, COMPRISED OF 4 FOUNDATION BOARD DIRECTORS AND 2 CENTER BOARD TRUSTEES. THE CHAIR OF THIS COMMITTEE IS THE VICE CHAIR OF THE CENTER BOARD, WHO IS ALSO THE TREASURER OF THE FOUNDATION BOARD. THE PRESIDENT OF THE CENTER WHO SERVES AS A BOARD DIRECTOR OF THE FOUNDATION, ALSO SERVES ON THIS COMMITTEE. THE TWO CENTER BOARD TRUSTEES THAT SERVE ON THIS COMMITTEE ARE ALSO ON THE CENTER'S FINANCE COMMITTEE. WITH THE ABOVE INDICATED INTERACTION OF BOARD MEMBERS ACROSS BOTH BOARDS, THE VESTED AND COMMITTED INTEREST OF BOTH ENTITIES FUNDING AND MISSION IS CONSIDERED EVIDENT AND PRACTICED. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22807304 1428800 188797 3318703 21106198 21939129 807398 2686319 2625542 22807304 18946524 1715119 2878184 1600698 21939129 15566415 1202563 3366508 1188962 18946524 14450646 795192 327797 7220 15566415 0.20000 0.80000 0.00000 1 0 0 COMMON STOCKS 17109251 F MUTUAL FUNDS 3722106 F FIXED INCOME 3873539 F ALTERNATIVE INVESTMENT 514078 F 25218974 DUE TO TAMPA BAY PERFORMING ARTS CENTER 858821 858821 X PART V, LINE 4: TAMPA BAY PERFORMING ARTS CENTER FOUNDATION, INC (THE "FOUNDATION") IS BENEFICIARY OF THE RELATED FUNDS AT THE COMMUNITY FOUNDATION OF TAMPA BAY AND IS ENTITLED TO ALLOCATED DISTRIBUTIONS OF NET EARNINGS. PERMANENT ENDOWMENT FUNDS HELD IN TRUST BY THE TAMPA BAY COMMUNITY FOUNDATION FOR THE BENEFIT OF THE FOUNDATION CONSIST OF DISTRIBUTION AND USAGE OF INVESTMENT EARNINGS FOR BOTH UNRESTRICTED AND RESTRICTED DONOR DESIGNATED PURPOSES. THE USAGE OF THE UNRESTRICTED EARNINGS ALLOWS THE FOUNDATION THE FLEXIBILITY TO USE THE INVESTMENT INCOME RETURN AS BEST SERVES THE ORGANIZATION'S IMMEDIATE CHALLENGES AND FUNDING REQUIREMENTS AS APPROVED BY THE BOARD. INTERNAL GUIDELINES FOR UNRESTRICTED EARNINGS ALLOW USAGE FOR OPERATING EXPENSES FOR ADMINISTRATIVE AND PROGRAMMING ACTIVITIES AS WELL AS SPECIAL PROJECTS. THE RESTRICTED DONOR DESIGNATIONS ON USAGE OF INVESTMENT EARNINGS ARE RELATED TO EDUCATION MUSIC PROGRAMMING. ENDOWMENT PROGRAM ALSO ALLOWS TAMPA BAY PERFORMING ARTS CENTER, INC. TO EXPAND ITS EDUCATIONAL PROGRAMMING AND INCREASE ITS IMPACT ON THE COMMUNITY. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT HAS EVALUATED THE EFFECT OF THE GUIDANCE PROVIDED BY U.S. GAAP ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT BELIEVES THAT THE FOUNDATION CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AS OF SEPTEMBER 30, 2015. 0 TAMPA BAY PERFORMING ARTS CENTER INC 1010 N WC MACINNES PLACE TAMPA FL 33602 592037085 501(C)(3) 1413474 DONOR DESIGNATED PROGRAMS GENERAL PROGRAMMING AND CAPITAL PROJECT SUPPORT 1 PART I, LINE 2: MONEY IS PROVIDED AS APPROVED BY THE FOUNDATION BOARD OF DIRECTORS TO THE TAMPA BAY PERFORMING ARTS CENTER (THE "CENTER") AS A RESULT OF THE FOUNDATION'S ROLE AS A SUPPORTING ORGANIZATION TO THE CENTER, IN ACCORDANCE WITH THE FOUNDATION'S SPENDING POLICY AS APPLICABLE AS WELL AS PER DONOR RESTRICTED DESIGNATIONS ON RESPECTIVE ENDOWMENT EARNINGS. THE FUNDS ARE TO BE USED IN CONJUNCTION WITH THE MISSION OF THE CENTER AND/OR AS DESIGNATED BY RESPECTIVE DONORS. 0 1 0 0 0 0 0 0 0 JUDITH LISI CEO (CENTER) 0 376300 0 101811 0 32938 0 20800 0 14343 0 546192 0 0 JUDITH LISI- SEE SCH J PART III DEFERRED COMPENSATION 0 0 0 0 0 65787 0 0 0 137435 0 203222 0 0 LORRIN SHEPARD COO (CENTER) 0 134535 0 8000 0 14060 0 11880 0 6894 0 175369 0 0 MARY BETH ROSSI CFO (CENTER) 0 166636 0 8000 0 30051 0 15727 0 7863 0 228277 0 0 PART I, LINE 4B THE 2014 CONTRIBUTION TO JUDITH LISI'S EMPLOYEE BENEFIT PLAN INCLUDES DEFERRED COMPENSATION OF $203,222 SCHEDULE J, PART II THE ORGANIZATION HAS NO FULL TIME EMPLOYEES. KEY PERSONNEL IN SUPPORT OF THE ORGANIZATION ARE EMPLOYEES OF TAMPA BAY PERFORMING ARTS CENTER INC. AND ARE SUBJECT TO THE COMPENSATION, CLASSIFICATION, AND ALL OTHER PERSONNEL POLICIES OF TAMPA BAY PERFORMING ARTS CENTER INC. X 3 74794 FMV 0 0 1 1 PART I, LINE 32B: STOCK GIFTS ARE PROCESSED BY THE ORGANIZATION'S INVESTMENT BANKER, WHICH MANAGES THE ORGANIZATION'S ENDOWMENT INVESTMENT PORTFOLIO. FORM 990, PART III, LINE 1 THE FOUNDATION IS ORGANIZED AS A SUPPORTING ORGANIZATION EXCLUSIVELY FOR, AND IS DEDICATED TO, THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF, THE TAMPA BAY PERFORMING ARTS CENTER, INC. (THE "CENTER"), A 501(C)(3) ORGANIZATION TO WHICH CONTRIBUTIONS ARE DEDUCTIBLE UNDER SECTION 170 OF THE INTERNAL REVENUE CODE OF 1986, AS SUCH CODE IS AMENDED FROM TIME TO TIME, (THE "INTERNAL REVENUE CODE"). THE FOUNDATION SHALL INVEST ITS FUNDS AND SERVE AS AN ENDOWMENT FUND FOR THE SUPPORTED ORGANIZATION, NAMELY THE TAMPA BAY PERFORMING ARTS CENTER, INC. THE FOUNDATION SHALL ENCOURAGE AND MOTIVATE THE MAKING OF GIFTS, DONATIONS AND BENEFACTIONS BY INTERVIVOS GIFT, DEED WILL AND OTHERWISE, FOR THE ADVANCEMENT, OR PROMOTION, OF PROGRAMS OR AND MAINTENANCE OF, THE ACTIVITIES, OPERATIONS AND CAPITAL PROJECTS OF THE TAMPA BAY PERFORMING ARTS CENTER, INC. THIS ORGANIZATION SHALL CONDUCT CORPORATE AND PUBLIC FUND-RAISING ACTIVITIES ON BEHALF OF THE CENTER AND IN SUPPORT OF THE ACTIVITIES, OPERATIONS AND CAPITAL PROJECTS OF THE CENTER. THE FOUNDATION SHALL DISTRIBUTE ITS NET INCOME AT LEAST ANNUALLY TO THE CENTER. THE FOUNDATION MAY DISTRIBUTE ANY UNRESTRICTED AND QUASI ENDOWMENT FUNDS AS APPROVED BY THE TAMPA BAY PERFORMING ARTS CENTER, INC. THE MISSION STATEMENT OF THE FOUNDATION IS TO INSPIRE INDIVIDUALS, CORPORATIONS AND FOUNDATIONS TO ESTABLISH A PERMANENT LEGACY AND INVEST IN THE CENTER'S EDUCATION PROGRAMS, ARTISTIC INITIATIVES, FACULTY IMPROVEMENTS AND GENERAL OPERATIONS. FORM 990, PART VI, SECTION B, LINE 11 BEFORE THE FORM IS FILED FOR THE FOUNDATION, IT WILL BE REVIEWED BY THE FOUNDATION'S TREASURER AND CFO. THE CFO AND TREASURER WILL THEN PRESENT IT TO THE AUDIT COMMITTEE AT A SPECIAL DEDICATED MEETING WITH A HIGHLIGHTED REVIEW OF THE FORM SECTION BY SECTION BEING DONE BY THE CONTROLLER, CFO AND CEO, AS APPLICABLE. AFTER THE TREASURER AND AUDIT COMMITTEE HAVE REVIEWED THE FORM, THE CFO WILL PROVIDE: (1) A SUMMARY OF THE HIGHLIGHTED REVIEW OF THE FORM 990 SECTION BY SECTION ALONG WITH (2) A FINAL DRAFT OF THE RESPECTIVE FORM 990 FOR THE YEAR BEING FILED TO ALL BOARD MEMBERS WHO HAVE VOTING PRIVILEGES AND (3) A RECOMMENDATION FOR MOTION FOR APPROVAL FOR THE FORM 990 TO BE FILED AS BEING PRESENTED IN FINAL DRAFT FORM. THIS WILL BE DONE VIA A PROTECTED BOARD PORTAL WEBSITE FOR WHICH PASSWORDS WILL BE GIVEN FOR PROTECTED ACCESS. BOARD MEMBERS WILL HAVE THE OPPORTUNITY TO SEND IN QUESTIONS AND/OR SEND IN THEIR RESPECTIVE APPROVALS. THE TREASURER, CFO AND AUDIT COMMITTEE WILL ACCEPT AND RESPOND TO ANY QUESTIONS RAISED BY BOARD MEMBERS. AS PART OF THE SUBMITTED FORM 990 PRESENTATION TO THE BOARD, THE AUDIT AND FINANCE COMMITTEES WILL ALSO, BASED ON THEIR REVIEW OF THE FORM, MAKE NECESSARY RECOMMENDATIONS TO THE BOARD REGARDING GOVERNANCE, POLICIES, DISCLOSURE, ETC. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND EXECUTIVE STAFF (CEO, CFO, COO, CPMO AND VICE PRESIDENTS) ARE REQUIRED, ON AN ANNUAL BASIS TO: (1) READ THE CONFLICT OF INTEREST AND CONFIDENTIALITY POLICY, (2) SIGN OFF ON ACKNOWLEDGMENT THAT POLICY HAS BEEN READ AND RECEIVED AND (3) COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM. THE CFO REVIEWS THE COMPLETED ANNUAL CONFLICT OF INTEREST DISCLOSURE FORMS. ANY CONCERNS ON CONFLICTS ARE RAISED TO THE CEO, VP OF DEVELOPMENT (STAFF LIAISON TO THE BOARD GOVERNANCE COMMITTEE) AND THE BOARD GOVERNANCE COMMITTEE AS APPLICABLE. IF ANY BOARD MEMBER OR EXECUTIVE STAFF DOES NOT COMPLETE THE RELATED ANNUAL FORMS, THE VP OF DEVELOPMENT WILL ADDRESS ACCORDINGLY. IF THERE ARE ANY QUESTIONS ON CONFLICT, THE RELATED BOARD MEMBER OR KEY EXECUTIVE STAFF MEMBER IS REQUIRED TO DISCLOSE AND REMOVE HIMSELF OR HERSELF FROM VOTING ON A PARTICULAR MATTER, DECLINE IN PARTICIPATION IN A CONFLICTING BID FOR RELATED BUSINESS WITH THE ORGANIZATION OR NOT APPLY FOR EMPLOYMENT AS A STAFF POSITION IF IT IS DETERMINED THERE IS AN ACTUAL CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION HAS NO FULL-TIME EMPLOYEES. KEY PERSONNEL IN SUPPORT OF THE FOUNDATION ARE CENTER EMPLOYEES AND ARE SUBJECT TO COMPENSATION, CLASSIFICATION AND ALL OTHER PERSONNEL POLICIES OF THE CENTER. THE CENTER PERIODICALLY REVIEWS ITS CLASSIFICATION AND COMPENSATION STRUCTURE TO ENSURE REASONABLENESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. TAMPA BAY PERFORMING ARTS CENTER INC 1010 NORTH WC MACINNES PLACE TAMPA FL 33602 592037085 PERFORMING ARTS FL 501 (C)(3) 7 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 TAMPA BAY PERFORMING ARTS CENTER INC B 1413474 FMV TAMPA BAY PERFORMING ARTS CENTER INC P 407189 FMV