Process Studio Theatre Inc
- Assets
- $868.4k
- Revenue
- $54.8k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 02/1979
- Data as of
- 12/2022
- EIN
- 13-2903468
Organization Overview
Process Studio Theatre Inc is located in New York, NY. The organization was established in 1979. According to its NTEE Classification (A6E) the organization is classified as: Performing Arts Schools, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Process Studio Theatre Inc 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 12/2022, Process Studio Theatre Inc generated $54.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (14.5%) each year. All expenses for the organization totaled $52.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (16.4%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PST'S MISSION IS TO PRODUCE MOVIES, READINGS, THEATRICAL AND MUSICAL PRESENTATIONS PRIMARILY FOR ARTS-STARVED AND UNDESERVED POPULATIONS. WE SHOWCASE THE EMERGING TALENT THAT PST NURTURES THROUGH A VARIETY OF CLASSES, WORKSHOPS, AND INTENSIVE TUTORIALS. A VOLUNTEER ORGANIZATION AT ITS CORE, PST ATTRACTS SEASONED PROFESSIONALS TO TEACH EAGER LEARNERS THE FULL ARRAY OF SKILLS FROM SET DESIGN AND LIGHTING TO ACTING AND VOCAL COACHING. FOR MORE THAN 38 YEARS, OUR ORGANIZATION HAS REACHED INTO THE NYC COMMUNITIES IN DEEPEST NEED OF ADVOCACY AND SUPPORT INCLUDING: CHILDREN, THE DISABLED, SENIORS, AND THOSE WITH DEBILITATING OR LIFE-THREATENING ILLNESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTED A VARIETY OF WORKSHOPS AND OTHER PROGRAMS AT THE THEATRE AND OTHER LOCATIONS. THESE INCLUDED 3 STAGED READINGS OF NEW PLAYS, MATCHING STUDENTS WITH TEACHERS AND ACCOMPANISTS FOR LEARNING NEW MUSIC, PROVIDING COSTUMES AND OTHER PROPS FOR PRODUCTIONS, WORKING ON EDITING OF UNFINISHED PROJECTS, AS WELL AS PROVIDING ENCOURAGEMENT FOR NEW ARTISTS WORKING ON NEW PROJECTS.
WORKING ON CONVERTING THE SUCCESSFUL PRODUCTION OF BONFIRE OF THE VANITIES, THE OPERA, BASED ON THE TOM WOLFE NOVEL OF THE SAME NAME, IN 2015 TO A FULL LENGTH MOVIE PRODUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael P Bergmann Director | Trustee | 5 | $0 |
Stephanie Talley Director | Trustee | 5 | $0 |
Richard Sonnenshein Director | Trustee | 1 | $0 |
Bonnie Loren Artistic Director & CFO | Officer | 54 | $0 |
Laurie Byrne President & Dir | Officer | 20 | $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 | $11,380 |
| Noncash contributions included in lines 1a–1f | $10,766 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,380 |
| Total Program Service Revenue | $0 |
| Investment income | $43,392 |
| 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 | $54,772 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $878 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,899 |
| 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 | $5,837 |
| Insurance | $3,488 |
| All other expenses | $0 |
| Total functional expenses | $52,043 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,708 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $365,018 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $377,711 |
| Total assets | $868,437 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $868,437 |
| Net assets with donor restrictions | $0 |
| 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 | $868,437 |