True Colors Theatre Company
- Assets
- $1.9m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 19
- Location
- Atlanta, GA
- Founding
- 10/2002
- Data as of
- 07/2021
- 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 07/2021, True Colors Theatre Company employed 19 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 07/2021, True Colors Theatre Company generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $969.0k during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (4.8%) per year over the past 6 years. 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
2021
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
THE MISSION OF TRUE COLORS THEATRE COMPANY IS TO CELEBRATE THE RICH TRADITION OF BLACK STORYTELLING WHILE GIVING VOICE TO BOLD ARTISTS OF ALL CULTURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jamil Jude Artistic Dir. | Trustee | 40 | $82,373 |
Chandra Stephens-Albright Managing Dir. | Trustee | 40 | $77,150 |
Johnita Due President | OfficerTrustee | 1 | $0 |
Eric Schroeder Vice President | OfficerTrustee | 1 | $0 |
Steven Simmons Treasurer | OfficerTrustee | 1.5 | $0 |
Dexter Conner Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $472,306 |
| All other contributions, gifts, grants, and similar amounts not included above | $682,596 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,154,902 |
| Total Program Service Revenue | $50,174 |
| Investment income | $0 |
| 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 | $1,211,759 |
| 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. | $170,000 |
| Compensation of current officers, directors, key employees. | $85,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $275,340 |
| Pension plan accruals and contributions | $4,359 |
| Other employee benefits | $0 |
| Payroll taxes | $35,141 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $71,859 |
| Office expenses | $2,677 |
| Information technology | $8,469 |
| Royalties | $10,540 |
| Occupancy | $39,495 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,418 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $692 |
| Insurance | $21,687 |
| All other expenses | $71,644 |
| Total functional expenses | $969,009 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $798,981 |
| Savings and temporary cash investments | $928,558 |
| Pledges and grants receivable | $163,655 |
| Accounts receivable, net | $0 |
| 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 | $2,100 |
| Net Land, buildings, and equipment | $1,384 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,894,678 |
| Accounts payable and accrued expenses | $46,611 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $196,611 |
| Net assets without donor restrictions | $605,067 |
| Net assets with donor restrictions | $1,093,000 |
| 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 | $1,894,678 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that True Colors Theatre Company has recieved totaling $562,572.
| Awarding Organization | Amount |
|---|---|
Bloomberg Family Foundation Inc New York, NY PURPOSE: DIGITAL PROGRAMS | $175,000 |
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: ARTS/CULTURE/HUMANITIES | $92,150 |
Doris Duke Charitable Foundation Inc New York, NY PURPOSE: LEADERSHIP GRANTS FOR ARTS ORGANIZATIONS | $90,000 |
At&t Foundation Dallas, TX PURPOSE: ARTS, MEDIA & CULTURE | $50,000 |
Shubert Foundation Inc New York, NY PURPOSE: GENERAL OPERATING | $40,000 |
Zeist Foundation Inc Atlanta, GA PURPOSE: ARTS & CULTURE | $35,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Tivoli Theatre Foundation Inc Chattanooga, TN | $19,745,641 | $23,020,214 |
Sunfest Of Palm Beach County Inc West Palm Beach, FL | $4,618,785 | $9,247,080 |
Red Mountain Theatre Company Inc Birmingham, AL | $35,964,987 | $9,815,041 |
Cccp Community Trust Charlotte, NC | $3,032,444 | $5,842,596 |
Womans Exchange Inc Of Sarasota Sarasota, FL | $4,624,153 | $4,393,353 |
Westcoast Black Theatre Troupe Of Florida Inc Sarasota, FL | $12,672,008 | $4,333,554 |
Center For Puppetry Arts Inc Atlanta, GA | $20,916,247 | $3,804,159 |
City Springs Theatre Company Sandy Springs, GA | $2,774,850 | $2,619,384 |
Barrier Island Group For The Arts Sanibel, FL | $11,337,341 | $3,470,715 |
Thalian Hall Center For Performing Arts Inc Wilmington, NC | $1,750,747 | $2,399,584 |
Savannah Music Festival Inc Savannah, GA | $2,910,137 | $2,078,517 |
Milagro Foundation Inc Delray Beach, FL | $1,748,813 | $1,736,017 |