Inching our way out of the Great Recession is taking more time than we expected. Unemployment figures stay high while economic growth remains stagnant. And the real estate market has yet to recover completely. So you would expect the flow of contributions to small non-profit organizations to dwindle, right?
Not so fast. A quick review of the financials of about a half dozen South Florida Hispanic performing arts groups shows contributions made to them have increased even in this bad economy.
990 form for Miami Hispanic Ballet:
From 2010-2011, groups in Miami such as Sociedad Pro Arte Grateli, Miami Hispanic Ballet, Fundarte and Teatro en Miami saw their contributions grow at least by 5.3% (Miami Hispanic Ballet) and as much as 223% (Sociedad Pro Arte Grateli). Some actually ended 2011 with more funding than the year before, when program service revenue is factored in.
For these groups, program service revenue derives mostly from ticket sales to their presentations and other fees. This income was of about $30,000 in one case (Fundarte) to almost $200,000 in another (Sociedad Pro Arte Grateli). The only group that did not report any program services revenue in 2011 was Miami Hispanic Ballet.
(Continues in next post)