Theatreworks Usa Corporation
- Assets
- $2.5m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 165
- Location
- New York, NY
- Founding
- 08/1967
- Data as of
- 06/2021
- EIN
- 13-2583793
Organization Overview
Theatreworks Usa Corporation, operating under the name Theaterworksusa Twstudios, is located in New York, NY. The organization was established in 1967. 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, Theaterworksusa Twstudios employed 165 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Theaterworksusa Twstudios 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, Theaterworksusa Twstudios generated $2.9m 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 (14.7%) each year. All expenses for the organization totaled $1.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (20.4%) 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
THEATERWORKSUSA CREATES EXCEPTIONAL, TRANSFORMATIVE THEATRICAL EXPERIENCES FOR YOUNG AND FAMILY AUDIENCES IN DIVERSE COMMUNITIES THROUGHOUT NEW YORK CITY AND NORTH AMERICA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW WORK DEVELOPMENT:NEW WORK DEVELOPMENT IS THE ARTISTIC ENGINE OF TWUSA WHICH COMMISSIONS, DEVELOPS, AND PRODUCES NEW WORKS OF THEATER FOR YOUNG AND FAMILY AUDIENCES EVERY YEAR. WE ENGAGE PROFESSIONAL, CREATIVE AND PERFORMING ARTISTS TO CREATE WORK THAT IS RELEVANT TO OUR AUDIENCE MEMBERS IN THEIR EDUCATIONAL, SOCIAL-EMOTIONAL, AND CREATIVE DEVELOPMENT. IN ITS LIFETIME, TWUSA HAS DEVELOPED A REPERTOIRE OF 139 NEW PLAYS AND MUSICALS ADAPTED FROM LITERATURE, HISTORICAL EVENTS, AND VARIOUS ASPECTS OF WORLD CULTURE.
TWACADEMY AND TWUSA.TVTWACADEMY IS AN EDUCATION SPACE FOR CHILDREN, YOUNG PROFESSIONALS, AND FAMILIES OFFERING CLASSES TO FOSTER CREATIVITY, ENCOURAGE LITERACY, AND INSTILL A LOVE FOR THEATER. TWUSA.TV IS A SUBSCRIPTION-BASED STREAMING PLATFORM BRINGING EXCEPTIONAL THEATRICAL EXPERIENCES TO HOMES ACROSS NORTH AMERICA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Harrington President/executive Director | OfficerTrustee | 1 | $150,679 |
Barbara Pasternack Vice President/artistic Director | OfficerTrustee | 1 | $141,665 |
Tom Toce Treasurer | OfficerTrustee | 1 | $0 |
Lisa Chanel Chair | OfficerTrustee | 1 | $0 |
Andrew Fisher Secretary | OfficerTrustee | 1 | $0 |
Suzanne Cohen Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Two Beans Productions Llc Managed Artist Production | 6/29/19 | $240,570 |
Barter Theatre Managed Artist Production | 6/29/19 | $240,386 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $398,583 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,849,372 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,247,955 |
| Total Program Service Revenue | $372,317 |
| Investment income | $15,504 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $18,946 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $61,624 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,907,367 |
| 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. | $319,423 |
| Compensation of current officers, directors, key employees. | $102,765 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $588,591 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $95,231 |
| Payroll taxes | $85,290 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,785 |
| Fees for services: Accounting | $28,063 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,695 |
| Fees for services: Other | $140,130 |
| Advertising and promotion | $29,208 |
| Office expenses | $81,003 |
| Information technology | $0 |
| Royalties | $43,866 |
| Occupancy | $184,057 |
| Travel | $24,049 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,789 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,410 |
| Insurance | $93,620 |
| All other expenses | $14,284 |
| Total functional expenses | $1,941,232 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $524,446 |
| Savings and temporary cash investments | $9 |
| Pledges and grants receivable | $837,583 |
| Accounts receivable, net | $53,790 |
| 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 | $257,441 |
| Net Land, buildings, and equipment | $31,357 |
| Investments—publicly traded securities | $776,121 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,361 |
| Total assets | $2,515,108 |
| Accounts payable and accrued expenses | $161,558 |
| Grants payable | $0 |
| Deferred revenue | $431,109 |
| 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 | $1,297,912 |
| Other liabilities | $62,030 |
| Total liabilities | $1,952,609 |
| Net assets without donor restrictions | -$451,091 |
| Net assets with donor restrictions | $1,013,590 |
| 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 | $2,515,108 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Theatreworks Usa Corporation has recieved totaling $175,473.
| Awarding Organization | Amount |
|---|---|
Shubert Foundation Inc New York, NY PURPOSE: GENERAL OPERATING | $125,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $25,000 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: ARTS AND CULTURE | $10,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $10,000 |
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $5,150 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $200 |
Endowment Analysis
| Beg. Balance | $561,687 |
| Earnings | $126,962 |
| Other Expense | $8,809 |
| Ending Balance | $679,840 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Second Stage Theatre New York, NY | $62,708,833 | $8,654,071 |
Atlantic Theater Company New York, NY | $26,591,945 | $8,396,675 |
Geva Theatre Center Inc Rochester, NY | $17,333,733 | $8,117,861 |