Performing Arts Fort Worth INC: Nonprofit Profile, Financials & Form 990 (EIN 75-2457270)

Revenue by fiscal year
FY2020	$15.9M
FY2021	$7.1M
FY2022	$30.9M
FY2023	$19.8M
FY2024	$25.9M
FY2025	$25.0M

Expenses by fiscal year
FY2020	$18.7M
FY2021	$8.7M
FY2022	$22.7M
FY2023	$22.7M
FY2024	$26.2M
FY2025	$25.6M

Net assets by fiscal year
FY2020	$117.5M
FY2021	$130.0M
FY2022	$123.0M
FY2023	$124.6M
FY2024	$129.3M
FY2025	$133.8M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1993.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

89%

Program services 89% · $22.8M Management & general 9% · $2.4M Fundraising 2% · $396K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

49 people listed on the 990; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Dione Kennedy

President & CEO

$643,018Pt VII · Sec A

Jason Wise

Senior Vice President of Operations

$242,406Pt VII · Sec A

Alicia Duran CPA

CFO

$238,957Pt VII · Sec A

David Tidwell

Director of Building Services

$118,477Pt VII · Sec A

Jim Carley

Director of Safety & Risk Management

$116,864Pt VII · Sec A

Stephen Rorai

Director of Information Technology

$115,428Pt VII · Sec A

Phillip Deleon

Director of Crm Strategy

$112,948Pt VII · Sec A

Taylor Woods

Director of Education & Community Engagement

$108,323Pt VII · Sec A

Dione Kennedy’s $643K as President & CEO is at the 88th percentile of top reported officer pay among 749 $10–100M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Dione Kennedy	$643,018	$580,076	$566,155	$583,161	$501,000	$500,847
Kathy Dubose	—	$275,780	$291,497	$303,687	$285,285	$272,733
Jason Wise	$242,406	$217,142	$200,593	$197,340	$173,949	$160,136
Alicia Duran CPA	$238,957	—	—	—	—	—
Patricia H Schutts	—	—	—	—	$117,217	$199,285
Alicia Duran	—	$133,215	—	—	—	—
David Tidwell	$118,477	$112,825	$105,047	$109,685	$102,121	—
Jim Carley	$116,864	$111,084	$106,568	$105,914	—	—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Manages a premier performing arts venue that hosts major local organizations, presents touring shows, and provides educational programs for the Fort Worth community.

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2 programs · $22.8M · in their own filed words · FY2024

01

Productions and Performances

See schedule o general statement 1.

$21.5Mprogram expense

02

Educational Programs

See schedule o general statement 1.

$1.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2025

Harris Franklin Pearson Private FoundationFY2025$250

Total grants receivedfrom 1 funder$250

Grants paid · 24 grants · $131K · 2019–2024

Unitemized GrantFY2024$10,000

Unitemized GrantFY2024$5,000

Unitemized GrantFY2024$2,000

Unitemized GrantFY2023$10,000

Unitemized GrantFY2023$4,000

Unitemized GrantFY2022$10,000

Unitemized GrantFY2022$5,000

Unitemized GrantFY2022$2,000

Unitemized GrantFY2022$400

Unitemized GrantFY2021$10,000

Unitemized GrantFY2021$5,000

Unitemized GrantFY2021$4,000

Unitemized GrantFY2020$7,000

See all 24 grants →

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs

Year ending Jun 2022 · $10.0M federal money spent

Shuttered Venue Operators Grant ProgramSmall Business Administration · ALN 59.075 · Direct$10.0M

The auditor reported no findings.

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$25.0M

Ln 12

Fees for servicesLn 2g$18.9M

Investment incomeLn 3$3.4M

Gifts and grantsLn 1h$2.1M

Money outPt IX

$25.6M

Ln 25

Programscol B$22.8M

Managementcol C$2.4M

Fundraisingcol D$396K

Owns and owesPt X

$133.8M

net assets · Ln 32

Cash and savingsLn 1–2$28.5M

Total assetsLn 16$146.7M

LiabilitiesLn 26$12.9M

PeoplePt VI, VII

49

listed · VII A

PaidVII A8

Voting boardVI 1a35

IndependentVI 1b32

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.1M

Noncash giftsLn 1g$322K

Fees for servicesLn 2g$18.9M

Investment incomeLn 3$3.4M

Other incomeLn 4–11$552K

Gains on assetsLn 7$792K

Total revenueLn 12$25.0M

Assets in detailPt X, end of year

SavingsLn 2$28.5M

Cash and savings togetherLn 1–2$28.5M

Pledges and grants receivableLn 3$180K

Accounts receivableLn 4$384K

Inventories for sale or useLn 8$250K

Prepaid expenses and deferred chargesLn 9$678K

Land, buildings, equipmentLn 10c$37.8M

InvestmentsLn 11–13$64.1M

Other assetsLn 15$14.9M

Total assetsLn 16$146.7M

LiabilitiesLn 26$12.9M

Net assetsLn 32$133.8M

OperationsPt I, VI

EmployeesI 5203

VolunteersI 6393

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3More from this return

Abroad and in kindSch F, M

Noncash gifts receivedSch M Pt I$322K

Investment feesPt IX, Sch D

Investment fees, as reportedPt IX 11f$295K

Share of the $78.9M endowmentSch D 1g0.37%

Typical, median of 1,806 orgs0.44%

EndowmentSch D · Pt V

Line	FY25	FY24	FY23	FY22	FY21
End of yearLn 1g	$78.9M	$75.4M	$71.9M	$70.0M	$83.1M
Given inLn 1b			$110K	$2.7M	$128K
SpentLn 1d–1f	$3.7M	$3.8M	$3.7M	$3.2M	$4.5M

4Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$26.6M	$28.5M
InvestmentsLn 11–13	$61.1M	$64.1M
Land, buildings, equipmentLn 10c	$37.9M	$37.8M
Total assetsLn 16	$141.1M	$146.7M
LiabilitiesLn 26	$11.8M	$12.9M
Net assetsLn 32	$129.3M	$133.8M

5Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$17K	$17K
Pay of current officers, directors and key staffLn 5	$1.0M	$399K	$529K	$74K
Other salaries and wagesLn 7	$4.0M	$3.4M	$517K	$110K
Pension plan contributionsLn 8	$355K	$274K	$62K	$19K
Other employee benefitsLn 9	$366K	$292K	$56K	$18K
Payroll taxesLn 10	$357K	$280K	$62K	$15K
Legal feesLn 11b	$61K	$45K	$15K
Accounting feesLn 11c	$97K	$49K	$49K
Investment management feesLn 11f	$295K		$295K
Other fees for servicesLn 11g	$680K	$646K	$34K
Advertising and promotionLn 12	$1.3M	$1.3M		$500
Office expensesLn 13	$273K	$179K	$94K	$101
Information technologyLn 14	$761K	$482K	$279K
OccupancyLn 16	$569K	$428K	$141K
TravelLn 17	$74K	$60K	$13K	$889
Depreciation, depletion and amortizationLn 22	$2.7M	$2.7M
InsuranceLn 23	$317K	$158K	$158K
Other expenses (24a–d)Ln 24	$12.4M	$12.2M	$83K	$158K
Total functional expensesLn 25	$25.6M	$22.8M	$2.4M	$396K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest ViewingFiled with the IRS Jan 16, 2026	$25.0M	$25.6M	−$600K	$133.8M	990 PDF
FY2024Filed with the IRS May 1, 2025	$25.9M	$26.2M	−$357K	$129.3M	990 PDF
FY2023Filed with the IRS Mar 28, 2024	$19.8M	$22.7M	−$2.8M	$124.6M	990 PDF
FY2022Filed with the IRS May 4, 2023	$30.9M	$22.7M	$8.3M	$123.0M	990 PDF
FY2021Filed with the IRS Apr 27, 2022	$7.1M	$8.7M	−$1.6M	$130.0M	990 PDF
FY2020Filed with the IRS Mar 8, 2021	$15.9M	$18.7M	−$2.8M	$117.5M	990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $24,965,670 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,019,182$2,123,468

I-9 Program service revenuePrior year $19,956,827$18,905,326

I-10 Investment incomePrior year $3,374,266$3,385,275

I-11 Other revenuePrior year $510,576$551,601

I-12 Total revenuePrior year $25,860,851$24,965,670

I-13 Grants and similar amounts paidPrior year $24,000$17,000

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $5,904,436$6,082,391

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $20,289,812$19,465,819

I-18 Total expensesPrior year $26,218,248$25,565,210

I-19 Revenue less expensesPrior year −$357,397−$599,540

Part VI · Governance 32 of 35 board members independent, 1 to look at

VI-1a Voting members of the governing body35

VI-1b Independent voting members32

VI-2 Family or business relationship among officers or directorsYes

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $24,965,670 across 9 lines filed

Lines not itemized here account for $131,064 of total revenue; see the IRS return.

VIII-1f All other contributions, gifts and grants$2,123,468

VIII-1g Noncash contributions (included above)$322,403

VIII-1h Total contributions, gifts and grants$2,123,468

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $18,905,326$18,905,326

VIII-3 Investment incomeExcluded from tax $2,593,047$2,593,047

VIII-6 Net rental income or lossUnrelated business −$21,855 · Excluded from tax $431,547$409,692

VIII-7 Net gain or loss on sales of assetsExcluded from tax $792,228$792,228

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $10,845$10,845

VIII-12 Total revenueRelated to mission $18,905,326 · Unrelated business $109,209 · Excluded from tax $3,827,667$24,965,670

Part IX · Statement of functional expenses $25,565,210 across 18 lines filed

IX-2 Grants to domestic individualsPrograms $17,000$17,000

IX-5 Pay of current officers, directors and key staffPrograms $399,238 · Management $529,238 · Fundraising $74,275$1,002,751

IX-7 Other salaries and wagesPrograms $3,374,400 · Management $517,379 · Fundraising $110,476$4,002,255

IX-8 Pension plan contributionsPrograms $273,523 · Management $62,386 · Fundraising $18,615$354,524

IX-9 Other employee benefitsPrograms $292,414 · Management $55,510 · Fundraising $17,864$365,788

IX-10 Payroll taxesPrograms $280,232 · Management $62,043 · Fundraising $14,798$357,073

IX-11b Legal feesPrograms $45,400 · Management $15,133$60,533

IX-11c Accounting feesPrograms $48,709 · Management $48,709$97,418

IX-11f Investment management feesManagement $294,858$294,858

IX-11g Other fees for servicesPrograms $645,804 · Management $33,990$679,794

IX-12 Advertising and promotionPrograms $1,266,622 · Fundraising $500$1,267,122

IX-13 Office expensesPrograms $178,761 · Management $93,893 · Fundraising $101$272,755

IX-14 Information technologyPrograms $482,361 · Management $278,683$761,044

IX-16 OccupancyPrograms $427,620 · Management $141,228$568,848

IX-17 TravelPrograms $60,389 · Management $12,627 · Fundraising $889$73,905

IX-22 Depreciation, depletion and amortizationPrograms $2,661,722$2,661,722

IX-23 InsurancePrograms $158,336 · Management $158,336$316,672

IX-24 Other expenses (24a–d)Programs $12,170,272 · Management $82,718 · Fundraising $158,158$12,411,148

IX-25 Total functional expensesPrograms $22,782,803 · Management $2,386,731 · Fundraising $395,676$25,565,210

Part X · Balance sheet $146,736,979 assets, 16 lines filed

X-2 Savings and temporary cash investmentsStart of year $26,640,298$28,523,572

X-3 Pledges and grants receivableStart of year $67,000$179,564

X-4 Accounts receivableStart of year $224,924$383,928

X-8 Inventories for sale or useStart of year $191,930$249,884

X-9 Prepaid expenses and deferred chargesStart of year $689,178$677,569

X-10c Land, buildings and equipment, netStart of year $37,867,801$37,789,532

X-11 Publicly traded securitiesStart of year $61,058,580$64,050,564

X-15 Other assetsStart of year $14,341,101$14,882,366

X-16 Total assetsStart of year $141,080,812$146,736,979

X-17 Accounts payable and accrued expensesStart of year $1,080,810$1,123,961

X-19 Deferred revenueStart of year $10,705,509$11,820,219

X-26 Total liabilitiesStart of year $11,786,319$12,944,180

X-27 Net assets without donor restrictionsStart of year $59,349,997$60,392,455

X-28 Net assets with donor restrictionsStart of year $69,944,496$73,400,344

X-32 Total net assets or fund balancesStart of year $129,294,493$133,792,799

X-33 Total liabilities and net assetsStart of year $141,080,812$146,736,979

Part XI · Reconciliation of net assets $133,792,799 net assets at year end

XI-1 Total revenue$24,965,670

XI-2 Total expenses$25,565,210

XI-3 Revenue less expenses−$599,540

XI-4 Net assets at start of year$129,294,493

XI-5 Net unrealized gains (losses) on investments$5,099,982

XI-8 Prior period adjustments−$2,136

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$133,792,799

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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