Hasty Pudding Club The Institute Of 1770
- Assets
- $2.7m
- Revenue
- $473.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Cambridge, MA
- Founding
- 06/1981
- Data as of
- 06/2021
- EIN
- 04-1425590
Organization Overview
Hasty Pudding Club The Institute Of 1770 is located in Cambridge, MA. The organization was established in 1981. According to its NTEE Classification (A65) the organization is classified as: Theater, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Hasty Pudding Club The Institute Of 1770 employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hasty Pudding Club The Institute Of 1770 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 06/2021, Hasty Pudding Club The Institute Of 1770 generated $473.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (19.4%) each year. All expenses for the organization totaled $732.5k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (10.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Hasty Pudding Club The Institute Of 1770 has awarded 32 individual grants totaling $845,300. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER AND EXPAND THE INTEREST AND OPPORTUNITIES IN THE PERFORMING AND CREATIVE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE SUPPORTS PROGRAMS THAT FOSTER THE ARTS AND ENCOURAGES THEIR GROWTH.
THEATRICALS CONDUCTS AN ANNUAL BURLESQUE MUSICAL AND HOLDS PERFORMANCES IN CAMBRIDGE, NEW YORK CITY AND BERMUDA. THE HASTY PUDDING - INSTITUTE OF 1770 PRESENTS ANNUAL STUDENT WRITTEN AND COMPOSED PRODUCTIONS. THEATRICALS SUPPORTS ITS ACTIVITIES THROUGH TICKET & CONCESSION SALES AND SPONSORSHIPS. THERE WERE NO PERFORMANCES DURING THE FISCAL YEAR ENDED JUNE 30, 2021.
THE HASTY PUDDING CLUB PROVIDES MEETING AND SOCIAL SPACE FOR MORE THAN 240 HARVARD UNDERGRADUATES WHO HAVE AN INTEREST IN THE ACTIVITIES TRADITIONALLY ASSOCIATED WITH THE ORGANIZATION, RANGING FROM THE MUSICAL TO ACAPPELLA SINGING GROUPS SUCH AS THE HARVARD KROKODILOES OR IN ARTS RELATED COMMUNITY SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pamela Mccutcheon Steward | 40 | $130,122 | |
Andrea Olshan President/director | OfficerTrustee | 5 | $0 |
Andrew L Farkas Chairman/director | OfficerTrustee | 5 | $0 |
Lena Demashkieh Treasurer/director | OfficerTrustee | 5 | $0 |
Mark Szpak Clerk | Officer | 5 | $0 |
Conor Gaughan Until 8220 Vice President | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $317,155 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $317,155 |
| Total Program Service Revenue | $116,762 |
| Investment income | $29,058 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,506 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $473,481 |
| 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 | $129,005 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,868 |
| Payroll taxes | $13,373 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,138 |
| Fees for services: Accounting | $23,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,089 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3 |
| Office expenses | $5,361 |
| Information technology | $8,667 |
| Royalties | $0 |
| Occupancy | $387,014 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,420 |
| Insurance | $18,183 |
| All other expenses | $1,000 |
| Total functional expenses | $732,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $677,436 |
| Pledges and grants receivable | $7,500 |
| 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 | $89,648 |
| Net Land, buildings, and equipment | $53,013 |
| Investments—publicly traded securities | $1,848,240 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,254 |
| Total assets | $2,707,091 |
| Accounts payable and accrued expenses | $174 |
| Grants payable | $0 |
| Deferred revenue | $5,790 |
| 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 | $216,383 |
| Total liabilities | $222,347 |
| Net assets without donor restrictions | $2,434,744 |
| Net assets with donor restrictions | $50,000 |
| 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 | $2,707,091 |
Grants Awarded
Over the last fiscal year, Hasty Pudding Club The Institute Of 1770 has awarded $130,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: PERFORMING ARTS | $50,000 |
New York, NY PURPOSE: PERFORMING ARTS | $50,000 |
Bronx, NY PURPOSE: PERFORMING ARTS | $15,000 |
Bronx, NY PURPOSE: PERFORMING ARTS | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Hasty Pudding Club The Institute Of 1770 has recieved totaling $47,521.
| Awarding Organization | Amount |
|---|---|
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $27,500 |
Susan And Elihu Rose Foundation Inc New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: GENERAL OPERATING | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $21 |
Endowment Analysis
| Beg. Balance | $50,000 |
| Ending Balance | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York Shakespeare Festival New York, NY | $141,889,359 | $47,421,313 |
Fractured Atlas Inc New York, NY | $26,189,611 | $36,358,780 |
Roundabout Theatre Company Inc New York, NY | $173,392,210 | $30,369,133 |
Vivian Beaumont Theater Inc New York, NY | $199,499,593 | $19,952,200 |
American Repertory Theatre Cambridge, MA | $28,732,151 | $12,990,237 |
Signature Theatre Company New York, NY | $62,849,854 | $11,675,589 |
Playwrights Horizons Inc New York, NY | $27,151,743 | $13,749,281 |
Huntington Theatre Company Inc Boston, MA | $85,399,357 | $14,500,477 |
Manhattan Theatre Club Inc New York, NY | $95,784,807 | $15,978,594 |
Hartford Stage Company Hartford, CT | $23,293,519 | $12,254,112 |
Stella Adler Studio Of Acting New York, NY | $5,616,573 | $9,953,377 |
Storyville Center For The Spoken Word Inc New York, NY | $12,362,100 | $12,256,751 |