The Statement of Activities reports the Center’s change in net assets resulting from income and expenses that occurred during the fiscal year per generally accepted accounting principles (GAAP). Per GAAP requirements, non-cash expenses like depreciation and amortization are included in expenses. These entries recognize that things like buildings and software are worth less over time, but because these expenses do not require cash, there is no impact on the Center’s ability to meet its mission or cover its operating needs.
On the income side, multi-year pledges made to the Center, such as those to the Keystone Fund, must be recorded as income in the year that the pledge was made. As payments are collected on the pledges, no new income is reflected in the Statement of Activities because it was already recognized.
The Statement of Activities is designed to show the reader the change in the organization’s total value over the past year, not the change in its cash value or ability to meet expenses. While the fair market value of the Center’s assets diminished due to the passage of time in the past year, its cash position and ability to meet mission needs remains very strong.
The model of self-sufficiency for a nonprofit organization is to successfully operate on a balance of earned and contributed income allowing the business to deliver its mission driven components to serve the community as defined by eligibility for nonprofit status under federal guidelines. The Center’s mission components for which funds are raised are in support of education and community engagement programs, interdisciplinary performing arts and cultural program and the community usage of the facility. The Center is continuously ahead of industry standards with a greater percentage of the annual income resulting from various revenue streams.
Funds are raised in support of education and community engagement programs, interdisciplinary performing arts and cultural programming and the community usage of the facility.
The Fox Cities Performing Arts Center is driven by its mission to serve as a gathering place for the community to engage in educational opportunities and enhance understanding and enjoyment of life through the creation and presentation of the arts.
Live performances and other community programs in partnership with the Center contribute to the quality of life in the Fox Cities and Northeast Wisconsin. By encouraging a shared community experience of a live performance, the Center creates a platform for connection and builds cultural awareness, compassion and an overall enjoyment of life.
The Center generates substantial economic activity in the surrounding community as touring artists and visiting patrons spend time in the Fox Cities shopping, sleeping, eating and spending money at local businesses or for local services.
The Fox Cities Performing Arts Center also upholds its commitment to the community by donating tickets to be used at community events and fundraisers. Financial assistance is made available in the form of ticket scholarships for disadvantaged students and community members, encouraging people of all backgrounds to attend a performance at the Center. Additionally, the Center offers subsidized use rates to local community organizations and has become a venue of choice for other nonprofit organizations’ fundraising events. The Center also subsidizes education and cultural programming thanks to the generous support of its Annual Partners. The Center is proud to collaborate with other organizations throughout the Fox Cities to build a vibrant, engaged community.
The Fox Cities Performing Arts Center takes very seriously our responsibility to be good stewards of the money many in the community have so generously given to support our mission to serve as a gathering place for the community to engage in educational opportunities and enhance understanding and enjoyment of life through the creation and presentation of the arts. Operating with transparency, accountability and excellence is of the utmost importance to Center board of directors and staff.
In fiscal year 2022, the Fox Cities Performing Arts Center expensed 75 percent of total expenditures for program services directed at achieving the mission of the organization.