Playhouse Square Foundation

EIN: 237304942 501(c)(3) Arts, Culture & Humanities

Cleveland, OH

Total Revenue
$83,107,929
Total Expenses
$82,051,178
Total Assets
$346,396,690
Net Assets
$211,367,851
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1973
Legal Domicile
OH
Principal Officer
Patricia Gaul
Phone
2167714444
Tax Period
2023-07-01 to 2024-06-30

Playhouse Square Foundation, founded in 1973, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $83.1M in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year. Net assets of $211.4M represent 31 months of operating reserves.

Mission

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.

Program Service Accomplishments

Program 1
Expenses: $63,926,662 Revenue: $57,906,424

The Foundation's purpose is to operate and sustain on a financially viable basis a performing arts center presenting and producing works of artistic excellence for the benefit of all citizens. The...

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The Foundation's purpose is to operate and sustain on a financially viable basis a performing arts center presenting and producing works of artistic excellence for the benefit of all citizens. The Foundation presented 1,219 performances in Fiscal Year 24, which were attended by approximately 1 million guests. Over 60,000 students and teachers attended Children's theater performances. The Foundation has over 11 performance stages with a capacity of nearly 10,000.

Program 2
Expenses: $6,395,474 Revenue: $5,702,313

The Foundation is committed in its actions to enhance and develop that portion of downtown Cleveland known as "Playhouse Square" by not only operating the theaters as discussed in 4(a), but also by...

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The Foundation is committed in its actions to enhance and develop that portion of downtown Cleveland known as "Playhouse Square" by not only operating the theaters as discussed in 4(a), but also by renovating and developing complementary commercial, residential and retail properties in the Playhouse Square District.

Program 3
Expenses: $1,976,121 Revenue: $477,138

The Foundation is committed to offer a variety of educational activities that develop new audiences and enhance connections with existing audiences within Northeast Ohio region. Over 200,000 students...

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The Foundation is committed to offer a variety of educational activities that develop new audiences and enhance connections with existing audiences within Northeast Ohio region. Over 200,000 students and adults from over 26 Ohio counties were engaged in various educational and outreach programs.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $16,170,668
Program Service Revenue $62,552,601
Investment Income $2,897,381
Other Revenue $1,487,279
TOTAL REVENUE $83,107,929

Expense Breakdown

Grants Paid $0
Salaries & Benefits $17,277,428
Fundraising Expenses $2,097,898
Program Expenses $72,298,257
Other Expenses $64,761,750
TOTAL EXPENSES $82,051,178

Year-over-Year Comparison

2023 2022 Change
Revenue $83,107,929 $97,192,730 -0.1%
Expenses $82,051,178 $91,593,985 -0.1%
Net Income $1,056,751 $5,598,745 -0.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
63
Independent Members
62
Employees
775
Volunteers
2000

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
12
$1,367,063
Total Directors
65
$747,494
Key Employees
1
$189,687
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Craig Hassall President/CEO 40.00
Officer Director
$739,427 $8,067 $747,494
Brent D Ballard Chair 0.50
Officer Director
$0 $0 $0
Rick Buoncore Vice Chair, Development 0.50
Officer Director
$0 $0 $0
Bob Helmer Vice Chair, Education 0.50
Officer Director
$0 $0 $0
Mark Ross Vice Chair, Finance 0.50
Officer Director
$0 $0 $0
Paul J Dolan Vice Chair, Government Affairs 0.50
Officer Director
$0 $0 $0
Amy G Brady Vice Chair, Nominating Governance 0.50
Officer Director
$0 $0 $0
Bill Cosgrove Vice Chair, Real Estate Development 0.50
Officer Director
$0 $0 $0
Andrea Hogben Vice Chair, Sales & Marketing 0.50
Officer Director
$0 $0 $0
Jim Merlino Vice Chair, Strategic Planning 0.50
Officer Director
$0 $0 $0
Heather Lennox Secretary/Treasurer 0.50
Officer Director
$0 $0 $0
Terry Adelman Trustee 0.50
Director
$0 $0 $0
Thomas W Adler Trustee 0.50
Director
$0 $0 $0
Himanshu Amin Trustee 0.50
Director
$0 $0 $0
Warren E Anderson Trustee 0.50
Director
$0 $0 $0
Steven M Auvil Trustee 0.50
Director
$0 $0 $0
Ken Babby Trustee 0.50
Director
$0 $0 $0
Dr Michael Baston Trustee 0.50
Director
$0 $0 $0
Teresa Metcalf Beasley Trustee 0.50
Director
$0 $0 $0
Gina Beredo Trustee 0.50
Director
$0 $0 $0
Jodi Berg PhD Trustee 0.50
Director
$0 $0 $0
Laura Bloomberg Trustee 0.50
Director
$0 $0 $0
Jim Boland Trustee 0.50
Director
$0 $0 $0
Paul H Carleton Trustee 0.50
Director
$0 $0 $0
Scott Chaikin Trustee 0.50
Director
$0 $0 $0
John G Chapman Sr Trustee 0.50
Director
$0 $0 $0
James Graham Trustee 0.50
Director
$0 $0 $0
Lawrence H Hatch Trustee 0.50
Director
$0 $0 $0
Amy C Held Trustee until 10/23 0.50
Director
$0 $0 $0
J David Heller Trustee 0.50
Director
$0 $0 $0
Oliver C Henkel Jr Trustee for Life/Former Chair 0.50
Director
$0 $0 $0
Jason Hillman Trustee 0.50
Director
$0 $0 $0
Margaret M Judd Trustee 0.50
Director
$0 $0 $0
David Jacobs Trustee 0.50
Director
$0 $0 $0
Julie Jacono Trustee 0.50
Director
$0 $0 $0
Michael Jeans Trustee 0.50
Director
$0 $0 $0
Louis G Joseph Trustee 0.50
Director
$0 $0 $0
Patrice Kouvas Trustee 0.50
Director
$0 $0 $0
Edward J Largent Trustee 0.50
Director
$0 $0 $0
Todd Leombruno Trustee 0.50
Director
$0 $0 $0
Joe Matuszewski Trustee 0.50
Director
$0 $0 $0
Heath Monesmith Trustee 0.50
Director
$0 $0 $0
Jon H Outcalt Trustee 0.50
Director
$0 $0 $0
Patrick M Pastore Trustee 0.50
Director
$0 $0 $0
James A Ratner Trustee 0.50
Director
$0 $0 $0
Sean Richardson Trustee 0.50
Director
$0 $0 $0
Luci Schey Trustee 0.50
Director
$0 $0 $0
William R Seelbach Trustee 0.50
Director
$0 $0 $0
David B Sewell Trustee 0.50
Director
$0 $0 $0
Doug Spiker Trustee 0.50
Director
$0 $0 $0
Sara Ellen Stashower Trustee 0.50
Director
$0 $0 $0
Kevin Stein Trustee until 8/23 0.50
Director
$0 $0 $0
Thomas Stevens National Trustee/Former Chair 0.50
Director
$0 $0 $0
KK Sullivan Trustee 0.50
Director
$0 $0 $0
Alex Szilvas Trustee 0.50
Director
$0 $0 $0
Kurt Treu Trustee 0.50
Director
$0 $0 $0
Leila L Vespoli Trustee 0.50
Director
$0 $0 $0
Tracy Vigh Trustee 0.50
Director
$0 $0 $0
Molly Walsh Trustee 0.50
Director
$0 $0 $0
Daniel P Walsh Jr Trustee 0.50
Director
$0 $0 $0
Frances Cudjoe Waters Trustee 0.50
Director
$0 $0 $0
Neil Weinberger Trustee 0.50
Director
$0 $0 $0
Denise G Wells Trustee 0.50
Director
$0 $0 $0
Debra A Wert Trustee 0.50
Director
$0 $0 $0
Jeffrey J Wild Trustee 0.50
Director
$0 $0 $0
Patricia Gaul COO 40.00
Officer
$584,180 $35,389 $619,569
Art J Falco Senior Advisor 20.00
Key Emp
$175,909 $13,778 $189,687
Michelle Ryan Stewart VP Development 40.00
Highest
$362,642 $45,998 $408,640
David Greene VP Programming 40.00
Highest
$312,194 $55,982 $368,176
Autumn Kiser VP Ticket Sales & Marketing 40.00
Highest
$315,666 $34,341 $350,007
Tom Einhouse VP Facilities 40.00
Highest
$227,682 $49,516 $277,198
Gina Vernaci Former President/CEO 40.00
$278,696 $11,836 $290,532
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $83,107,929 $82,051,178 $346,396,690 $1,056,751
2023 $97,192,730 $91,593,985 $341,341,429 $5,598,745
2022 $68,025,435 $65,477,731 $324,662,531 $2,547,704
2021 $24,719,658 $32,842,939 $326,085,880 $-8,123,281
2020 $62,949,274 $58,949,064 $319,310,731 $4,000,210
2019 $95,421,271 $81,911,168 $313,630,834 $13,510,103
2018 $94,572,549 $69,746,068 $332,866,462 $24,826,481
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