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A STAGEFOR ALL2020Annual ReportINNOVATE. EDUCATE.ENGAGE.1

UPAF BOARD CHAIRBecause of unwavering community support, the United Performing Arts Fund(UPAF) raised 11,662,693 through the very challenging 2020 Campaign.The generous contributions of our donors allowed UPAF to be the oneconstant that UPAF Member Groups and our region’s talented artists couldrely on through this difficult year. The success of the campaign despite greatobstacles is due in large part to the determination, commitment and drive ofour Campaign Co-Chairs, Board of Directors, Campaign Cabinet, WorkplaceGiving Ambassadors, Member Groups, Volunteer Solicitors and staff.TIM MATTKEUPAF Board ChairThanks to your support, we allocated 8,580,000 to ensure that the show willgo on during a time of significant threats to our local performing arts scene.UPAF’s 14 Member Groups received a total of 8,448,270, with the additionalfunds directed to smaller performing arts organizations through UPAF’sAffiliate Program.Steadfast community support of UPAF was and is vital to allowing our exceptional performing artsartists and groups to make it through and come back strong. We cannot thank enough everyone whodemonstrated their commitment to the performing arts that lift our spirits and positively impactSoutheastern Wisconsin’s cultural, economic and educational vitality.We are also proud to share that our 2020 Kasey’s Fund initiative, honoring President & CEO DeannaTillisch’s final campaign, raised nearly 720,000 to increase arts accessibility. In challenging economictimes, community outreach programs are often the first to be cut or reduced, so Kasey’s Fundis critical in ensuring that everyone can experience the magic of the arts. Our Member Groupsare using these funds in creative and innovative ways, such as introducing new audiences to theirentertainment and education offerings, furnishing their spaces to better accommodate audiences of allages and abilities and equipping their companies with the necessary tools for virtual performances andclasses.I would like to extend a sincere thank you to our three exceptional 2020 Co-Chairs – Tami Garrison,community affairs director at Molson Coors, Justin Mortara, principal of Mortara Group, and RolandoRodriguez, chairman, president and CEO of Marcus Theatres. Their tenacity, creativity and businessacumen were invaluable assets to our overall success.I also would like to acknowledge the great dedication of past UPAF President & CEO Deanna Tillisch,who retired at the end of the 2020 Campaign. For nine years, Deanna worked tirelessly as an advocatefor our performing arts community, ensuring entertainment excellence and arts accessibility for all.We look forward to building on her legacy in the next chapter of UPAF under the leadership of our newPresident & CEO Patrick Rath.TABLE OF CONTENTS4ABOUT UPAFMission StatementUPAF Member Groups & AffiliatesUPAF 2020 Campaign Co-ChairsUPAF 2020 Executive Committee & Board of Directors6FINANCIAL STATEMENTS8ALLOCATION OF FUNDS102020 UPAF CAMPAIGN BY THE NUMBERSUPAF Member Groups & Affiliates12AFFINITY PROGRAMSNext Generation UPAF, sponsored by We Energies FoundationUPAF Notable Women, sponsored by BMO Harris Bank16DONOR SPOTLIGHT2020 Spotlight on IndividualsCapstone SocietyArtist Society, sponsored by U.S. Bank Private Wealth ManagementMaestroConcertmasterGolden Circle, sponsored by BMO Harris BankCorporationsWorkplace GivingFoundationsSponsorsIn-Kind DonationsKasey’s FundMemorials & TributesOn behalf of UPAF and the local organizations and artists we support, thank you for sustaining thevibrant performing arts scene that makes such an impact in our region — now and into the future.Sincerely,TIM MATTKEUPAF BOARD CHAIR23

ABOUT UPAF2020 CAMPAIGN CO-CHAIRSThe United Performing Arts Fund (UPAF) is a nonprofit, umbrella organization that supports 14 MemberGroup performing arts organizations and numerous Affiliate Groups in Southeastern Wisconsin through itsannual fundraising campaign.MISSION STATEMENTSecure community resources, promote the performing arts as a regional asset and improve the quality of lifethrough responsible investment in and financial support of the arts in Southeastern Wisconsin.UPAF proudly bears Charity Navigator’s highest distinction for nonprofits.UPAF CORNERSTONE GROUPSUPAF does not charge membership fees or annual dues to itsMember Groups or Affiliates in order for them to receive funding.TAMI GARRISONCommunity Affairs Director,Molson CoorsJUSTIN MORTARAPrincipalMortara GroupROLANDO RODRIGUEZChairman, President & CEOMarcus Theatres BRENT TISCHLER*TreasurerEVP Director of Retail BankingAssociated BankSTEVE JOHNSON*SecretaryPresidentBMO Private Bank2020 BOARD OF DIRECTORSTIM MATTKE*ChairChief Executive OfficerMGICKEVIN ANDERSONWisconsin Region CEO, Old National BankJEFF BEHRING*Director, Private Equity & Debt Investments,Northwestern MutualUPAF MEMBER GROUPSSCOTT BEIGHTOLPartner, Michael Best & Friedrich LLPSTEVE BOOTHCEO, BairdHEATHER DUNNChief Financial Officer,West Bend Mutual Insurance CompanyPAUL EBERLECEO, Husch BlackwellTAMI GARRISONCommunity Affairs Director, Molson CoorsUPAF AFFILIATESAbove the CloudsDarby’s DancersFestival City SymphonyFrankly Music, Inc.Kettle Moraine Symphony4Latino Arts, Inc.Milwaukee Opera TheatreOptimist TheatrePink UmbrellaRacine Symphony OrchestraTheatre GiganteWild Space Dance CompanyWindfall TheatreWisconsin Conservatory ofMusicWisconsin PhilharmonicCHRIS GOLLERRegional President, PNC BankSTEPHANIE LYONSChief Audit Executive, Enterprise Risk Assurance,Northwestern MutualGREG MARCUSPresident & CEO, The Marcus CorporationTOM METCALFEPresident, We Energies andWisconsin Public ServiceGEORGE MEYERCEO, Kahler SlaterLYNN MINELLAExecutive VP & Chief Human Resources Officer,Johnson ControlsMARIE O’BRIENPresident & CEO, Enterforce, Inc.HEATHER RAMIREZ*Attorney / Community VolunteerJOE ROCK*Managing Partner, KPMGJULIET KERSTENVice President, Ambulatory & Regional Services,Children’s HospitalROB SANDERS*Chief Strategy and Integration Officer, SysLogicDENNIS KLUMBPresident & CEO, KS Energy ServicesJULIA TAYLORPresident, Greater Milwaukee CommitteeDAVID LUBARPresident & CEO, Lubar & Co.JOHN VAN DRISSE*Partner, PwCDenotes Executive Committee*5

FINANCIAL STATEMENTSFollowing are the audited United Performing Arts Fund 2020 and 2019 Statements of Financial Position and Statements of Activities for the years ended August 31, 2020 and 2019. The complete audit report and Form 990 are available at www.UPAF.org.ASSETS20202019LIABILITIES AND NET ASSETSCURRENT ASSETS:CASH & CASH EQUIVALENTS 4,339,167 4,589,815INVESTMENTS, AT FAIR VALUE1,850,0332,489,033CONTRIBUTIONS RECEIVABLE, NET OF 18,2571,970,510ADVANCE PAYMENTS TO MEMBER GROUPSPREPAID EXPENSESTOTAL CURRENT ASSETSLONG-TERM PORTION OF CONTRIBUTIONS RECEIVABLE, NETPROPERTY AND EQUIPMENT, NETENDOWMENT FUNDS:BOARD DESIGNATED, 21ST CENTURY FUNDBENEFICIAL INTEREST IN ASSETS HELD AT THE GREATER MILWAUKEE FOUNDATIONTOTAL ENDOWMENT FUNDSTOTAL ASSETS—414,9493,318,2572,385,459 13,710,824 13,825,4292020CURRENT LIABILITIES:ACCOUNTS PAYABLEACCRUED LEASE PAYABLEACCRUED COMPENSATION AND RELATED BENEFITSDONOR DESIGNATIONS PAYABLETOTAL CURRENT LIABILITIESNET ASSETS:WITHOUT DONOR RESTRICTIONSUNDESIGNATED AND AVAILABLE FOR FUTURE OPERATIONSRESERVED FOR FUTURE ALLOCATIONS TO MEMBER GROUPS AND AFFILIATESBOARD DESIGNATED, 21ST CENTURY FUNDTOTAL WITHOUT DONOR RESTRICTIONSWITH DONOR RESTRICTIONSTOTAL NET ASSETSTOTAL LIABILITIES AND NET ASSETS2020REVENUEPUBLIC SUPPORTGROSS CAMPAIGN CONTRIBUTIONSLESS DONOR DESIGNATIONSLESS PROVISION FOR UNCOLLECTIBLE PROMISESNET CAMPAIGN CONTRIBUTIONSGOVERNMENT GRANTSPECIAL EVENT INCOME, NETDONATED SERVICESTOTAL PUBLIC SUPPORTNONOPERATING REVENUEINVESTMENT RETURNNET RETURN ON BENEFICIAL INTEREST IN ASSETS HELD AT GREATER MILWAUKEE FOUNDATIONTOTAL NONOPERATING REVENUEAPPROPRIATION FOR EXPENDITUREALLOCATIONS INTO ENDOWMENT FUNDSADJUSTMENT TO ENDOWMENT FUNDS IDENTIFIED WITH NO VARIANCE POWERNET ASSETS RELEASED FROM RESTRICTIONSTOTAL REVENUE, SUPPORT AND GAINSNON-BOARDDESIGNATEDBOARDDESIGNATED 7,210307,454(639,000)—1,057,3658,960,2852019 53,981—193,0021,239,1361,486,119 36,232,8111,970,51010,546,6041,751,73912,298,343 13,710,824 13,825,4292019WITH DONORRESTRICTIONS2020 TOTALNON-BOARDDESIGNATEDBOARDDESIGNATEDWITH DONORRESTRICTIONS 1,514,775——1,514,775———1,514,775 933216,5749,742,031 17,8669,323,979———————— 974,494——974,494———974,494 2,170 7,112,248 3,318,257 1,794,200 12,224,705 8,576,094 1,970,510 1,751,739 12,298,3432019 TOTALEXPENSESPROGRAM SERVICESALLOCATIONS TO MEMBER ORGANIZATIONS AND AFFILIATESOTHER MEMBER SUPPORTCOMMUNITY ENGAGEMENTAWARENESSTOTAL PROGRAM SERVICESSUPPORTING ACTIVITIESADMINISTRATIVE EXPENSESFUNDRAISINGTOTAL SUPPORTING ACTIVITIESTOTAL EXPENSESCHANGE IN NET ASSETSNET ASSETS AT BEGINNING OF YEARNET ASSETS AT END OF YEAR67

ALLOCATION AND GRANTSUPAF BRIGHT MINDS, PRESENTED BY BMO HARRIS BANKUPAF has allocated a total of 8,580,000 for the 2020-21 performing arts season to its 14 Member Groupsand 15 Affiliates. UPAF’s Member Groups will receive a total of 8,448,270, with the remaining 131,730going to UPAF Affiliates.UPAF’s allocation to its Member Groups consists of: Unrestricted funding for operations to ensure sustainability. Funding based on a rigorous evaluation of management and finances. Funding based on the outcomes achieved through education and outreach activities.Additionally, Member Groups earn funding for their participation in and support of the annual UPAF Campaign.The following is a breakout of the portion of each Member Group’sallocation dedicated to their respective arts education programs.These dollars were awarded through UPAF Bright Minds, largely fundedthrough the UPAF Notable Women affinity program.UPAF CORNERSTONEFIRST STAGEFLORENTINE OPERA COMPANY2020 ALLOCATION TOTAL 930,577772,925MILWAUKEE BALLET1,240,972MILWAUKEE REPERTORY THEATER1,761,099MILWAUKEE SYMPHONY ORCHESTRA1,877,448SKYLIGHT MUSIC THEATRETOTAL CORNERSTONESMEMBER GROUPBEL CANTOBLACK ARTS MKE 7,170,5912020 ALLOCATION TOTAL 46,01069,050196,861MILWAUKEE CHAMBER THEATRE163,623MILWAUKEE CHILDREN'S CHOIR14,484MEMBER GROUP2019 PROGRAMDANCEWORKSMAD HOT RHYTHM 35,000FIRST STAGEFIRST STAGE THEATER ACADEMY130,000FLORENTINE OPERA COMPANYOPERA IN THE SCHOOLS30,000MILWAUKEE BALLETRELEVÉ53,500MILWAUKEE CHAMBER THEATREYOUNG PLAYWRIGHTS FESTIVAL10,000MILWAUKEE REPERTORY THEATEREMERING ARTISTS TRAININGMILWAUKEE SYMPHONY ORCHESTRAARTS IN COMMUNITY EDUCATION (ACE)87,500MILWAUKEE YOUTH SYMPHONY ORCHESTRACOMMUNITY PARTNERSHIP PROGRAMS85,000NEXT ACTNEXT ACTORS13,000SKYLIGHT MUSIC THEATREENLIGHTEN PARTNER SCHOOL INITIATIVE68,500TOTALTOTAL2020 ARTS EDUC. GRANT120,000 632,500UPAF AFFILIATE PROGRAMUPAF allocates funds to non-memberperforming arts groups through the UPAFAffiliate Program, an annual grant programthat funds specific projects. UPAF selectsits Affiliates to reflect the performing artsexcellence serving the region. No guaranteeof funding year over year is intended norimplied in the Affiliate Program. Affiliates canalso earn funding for their participation in andsupport of the annual UPAF Campaign.*2020 AFFILIATEABOVE THE CLOUDS 10,0002,000FESTIVAL CITY SYMPHONY6,000FRANKLY MUSIC5,000KETTLE MORAINE SYMPHONY8,000LATINO ARTS20,000MILWAUKEE OPERA THEATRE5,000OPTIMIST THEATRE7,500PINK UMBRELLA7,500RACINE SYMPHONY ORCHESTRA11,000THEATRE GIGANTE5,000WILD SPACE DANCE COMPANY5,000WINDFALL THEATRE3,000378,416NEXT ACT146,332PRESENT MUSIC137,856WISCONSIN CONSERVATORY OF MUSICRENAISSANCE THEATERWORKS125,047WISCONSIN PHILHARMONIC 1,277,6792020 GRANT AMOUNTDARBY’S DANCERSMILWAUKEE YOUTH SYMPHONY ORCHESTRAUPAF does not charge membership fees or annual dues to its Member Groups or Affiliates in order for them to receive funding.8presented by587,570DANCEWORKSTOTAL MEMBER GROUPSBrightBrighMindsTOTAL10,0005,000 110,000*An additional 21,730 was allocated to participating Affiliates for the 2020 Campaign9