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La Performing Arts Center

In: Business and Management

Submitted By kittykat12
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HISTORY The Performing Arts Center of Los Angeles County or Music Center is one of the largest performing arts centers in the United States. In 1955, Dorothy Buffum Chandler was named by the Los Angeles County Board of Supervisors to build a permanent home for the Los Angeles Philharmonic. Dorothy raised $18.7 million in private donations and the country provided the site and $14 million. The construction of the original complex lasted for five years from 1962 to 1967. The original complex was comprised of three venues: Dorothy Chandler Pavilion, Mark Taper Forum, and Ahmanson Theatre. In 2003, the Music Center added the Walt Disney Concert Hall to there list of venues. Other venues that are part of the Music Center include: outdoor theaters, plazas, and gardens. The Music Center campus covers 12 acres in downtown Los Angeles. The largest venue is the Dorothy Chandler Pavilion, which seats approximately 3,200 audiences. Followed by the Walt Disney Concert Hall, Ahmanson Theatre, and Mark Taper Forum. According to the organization’s Form 990, their mission is to be “A leader at the cultural heart of Los Angeles County, the Performing Arts Center of Los Angeles County brings to life one of the world’s premier arts destinations by creating opportunities for arts participation, enabling compelling programming and providing first class facilities and services.” The audited financial statements and Form 990 will be used to analyze the financial health and position of the Performing Arts Center of Los Angeles.

SARBANES OXLEY ACT The Sarbanes Oxley Act of 2002 required a number of disclosures, including information on internal control mechanisms, corrections to past financial statements, and material off-balance sheet transactions. The Act also requires companies to disclose information on material changes in the operations or financial situation of the...

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