Playhouse Square Foundation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
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.
- Income
- $89.1 million
- Spending
- $94.1 million
- Spent on programs
- 89%
- Reserves
- 13.9 months of spending
- Largest source of income
- fees for its services, 80%
- Employees
- 848
- Volunteers
- 2,000
- Highest pay
- $892,385, president/ceo
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 79 out of 100. Higher than 56% of charities in its peer group (arts and culture, $10m to $100m).
Reserves
35 of 35Spendable reserves would cover 13.9 months of spending.
Debt
10 of 20It owes 37% of what it owns.
Living within its means
4 of 15Spending exceeded income by 6% of income.
Income trend
15 of 15Income rose 7% on the year before.
Spending floor
15 of 1588% of spending went to programs and raising each dollar of donations cost 15 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 34% of charities in its peer group (arts and culture, $10m to $100m).
Independent board
25 of 2559 of 60 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (3)
- $71.9 million spent. 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 1,208 performances in Fiscal Year 25, which were attended by approximately 1.1 million guests. Approximately 60,000 students and teachers attended Children's theater performances. The Foundation has over 12 performance stages with a capacity of nearly 10,000.
- $9.1 million spent. 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.
- $2.2 million spent. 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 400,000 students and adults were engaged by the education department and approximately 184,000 individuals participated in education workshops and classes.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since September 1973.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.