True Colors Theatre Company
- Assets
- $1.2m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 24
- Location
- Atlanta, GA
- Founding
- 10/2002
- Data as of
- 07/2023
- EIN
- 03-0456341
Organization Overview
True Colors Theatre Company is located in Atlanta, GA. The organization was established in 2002. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 07/2023, True Colors Theatre Company employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. True Colors Theatre Company is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 07/2023, True Colors Theatre Company generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $1.7m during the year ending 07/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
STAGE LIVE PERFORMANCES FOR THE GENERAL PUBLIC, ARTISTIC RESEARCH AND DEVELOPMENT AND PUBLIC RELATIONS AND PUBLIC EDUCATION SURROUNDING STAGE PERFORMANCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCREASED NUMBER OF LIVE PERFORMANCES FROM THE PREVIOUS YEAR; CONTINUED TO PARTICIPATE IN THE MONOLOGUE COMPETITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Adams Trustee | Trustee | 1 | $0 |
Chandra Stephens Albright Managing Dir | Trustee | 40 | $0 |
Maranie Brown Vice Preside | OfficerTrustee | 1 | $0 |
Dexter Conner Trustee | Trustee | 1 | $0 |
Tiffany Friesen Trustee | Trustee | 1 | $0 |
Omari Henderson Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $154,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $954,788 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,108,788 |
| Total Program Service Revenue | $0 |
| Investment income | $5,109 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,113,897 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $542,849 |
| Pension plan accruals and contributions | $7,476 |
| Other employee benefits | $7,285 |
| Payroll taxes | $43,265 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $70,320 |
| Advertising and promotion | $23,049 |
| Office expenses | $3,589 |
| Information technology | $35,400 |
| Royalties | $23,901 |
| Occupancy | $90,844 |
| Travel | $22,232 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $169 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $692 |
| Insurance | $17,779 |
| All other expenses | $48,329 |
| Total functional expenses | $1,663,071 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,098,479 |
| Pledges and grants receivable | $42,000 |
| Accounts receivable, net | $27,546 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,300 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,176,325 |
| Accounts payable and accrued expenses | $68,667 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $249,200 |
| Total liabilities | $317,867 |
| Net assets without donor restrictions | -$141,542 |
| Net assets with donor restrictions | $1,000,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,176,325 |