Since 2010, Revlon chairman Ronald Perelman may be having a summer fundraiser on his Hamptons estate for any Apollo Theater. Rock stars, R&B legends, celebrities supply passed through the gates on the Creeks, near to Il Mulino restaurant in Wainscott, on Route 27.
But reported by tax forms filed through the Apollo Theater, the annual Hamptons bash has cost the cash starved not- for-profit landmark theater millions in expenses. The events have risen millions, too, obviously. But previously that it was believed that Perelman– who Forbes says will be worth $9.9 billion– grabbed the charges of staging the all-star rock & R&B shows. He wasn’t.
Instead, as it happens the Apollo has paid almost $3 million in expenses for entertainment, “other direct costs,” and a couple summers ago, rental on the facility.
This tends to come as a shock to performers like Jon Bon Jovi, Paul McCartney, Jennifer Lopez, Alex Rodriguez, Justin Timberlake, Gwen Stefani, Pharrell Williams and Alicia Keys, et al, not forgetting classic R&B stars like Sam Moore and Smokey Robinson who have an authentic historical link with the Apollo. Perelman has often joined your home band, the Roots, to relax and play drums.
According a great insider attached to the annual soiree, it was only last year– for which tax records haven’t appeared yet– that Perelman stopped charging half the expenses towards Apollo Foundation. Even as 2016, the Apollo was billed $217,792 for entertainment, $25,144 for “other direct expenses,” and $33,820 for facility charges– i.e. rent!
The summer before, 2015, the costs included $367,726 for entertainment, and $147,996 for “other.” Similar charges get back for 2014, 2013, and 2012, all detailed from the Apollo’s filings.
“Ronald always split the prices when using the Apollo,” a resource says. “Last year he thought we would pay money for these individuals.”
Every penny counts within the Apollo, which remains a landmark and also a beacon of Harlem on West 125th St. In 2017, their total revenue was $19 million. Total expenses were just under $17 million. Salaries will not be high. Their CEO makes under $300,000 to run what’s a worldwide cultural institution.
The Hamptons event is one kind of two big annual fundraisers to your Apollo, that features a gala on the theater in June. The gala raises a comparable amount of money– typically $2 million– as Perelman’s fly out — as well as incurs expenses.
The next Apollo while in the Hamptons concert is about for August 11th.