Friends Of The Strand Inc
- Assets
- $6.4m
- Revenue
- $2.4m
- Investments
- $1.0m
- Employees
- 28
- Location
- Marietta, GA
- Founding
- 10/2003
- Data as of
- 12/2023
- EIN
- 20-0210688
Organization Overview
Friends Of The Strand Inc, operating under the name Earl & Rachel Smith Strand Theatre, is located in Marietta, GA. The organization was established in 2003. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Earl & Rachel Smith Strand Theatre employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Earl & Rachel Smith Strand Theatre 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 12/2023, Earl & Rachel Smith Strand Theatre generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $2.2m during the year ending 12/2023. While expenses have increased by 8.1% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
THE MISSION OF THE EARL AND RACHAEL SMITH STRAND THEATRE IS TO:-PARTNER AND SERVE BY PROVIDING CULTURAL ENTERTAINMENT, PROGRAMS, AND MEETING SPACE THAT IS ACCESSIBLE TO A DIVERSE AUDIENCE, BENEFITS THE COMMUNITY, AND PROMOTES ECONOMIC DEVELOPMENT.-ENTERTAIN AND EDUCATE BY OFFERING A UNIQUE VENUE THAT PROVIDES HIGH QUALITY AND A VARIETY OF PERFORMING ARTS, FILMS, EDUCATION PROGRAMS AND SPECIAL EVENTS.-PRESERVE AND PROMOTE BY REMAINING FINANCIALLY SOUND WITH TICKET SALES, SPACE RENTAL, AND SUPPORT FROM PRIVATE AND BUSINESS DONORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS THE LAST REMAINING HISTORIC THEATRE IN COBB COUNTY, THE STRAND IS A LANDMARK STEEPED IN HISTORY ON THE MARIETTA SQUARE. ORIGINALLY BUILT IN 1935 BY THE MANNING-WINKS THEATRE COMPANY AS AN ART DECO MOVIE PALACE. IT IS CURRENTLY THE HOME OF THE EARL AND RACHEL SMITH STRAND THEATRE, A NONPROFIT ARTS ORGANIZATION THAT LIGHTS UP THE SQUARE WITH FILMS, CONCERTS, MUSICALS, PLAYS, EDUCATIONAL PROGRAMMING, AND COMMUNITY GATHERINGS. WHETHER PATRONS ARE INTERESTED IN STEPPING BACK IN TIME TO GLIMPSE A BYGONE ERA OR LOOKING FORWARD TO SEEING CURRENT ACTS OF TODAY, THE STRAND FILLS A CRITICAL NICHE IN THE LOCAL CULTURAL LANDSCAPE OF MARIETTA. THE STRAND HOSTS A WIDE VARIETY OF ART FORMS AND COMMUNITY GATHERINGS AND PROVIDES A HISTORIC HOME FOR ARTS LOVERS TO COME TOGETHER AS A COMMUNITY.
THE ORGANIZATION IS DEDICATED TO THE RESTORATION AND OPERATION OF THE LAST REMAINING HISTORIC THEATRE IN COBB COUNTY. BY THE EARLY 2000S, THE LANDMARK HAD FALLEN INTO SERIOUS DISREPAIR. A GROUP OF CONCERNED CIVIC LEADERS LAUNCHED INTO ACTION TO RE-OPEN THE THEATRE IN 2008 AND RESTORED IT TO ITS FORMER SPLENDOR. THE THEATRE'S PHYSICAL ASSETS RANGING FROM THE RESTORED LUMIERE LOUNGE TO THE OPEN-AIR ROOFTOP TERRACE ARE ALL ESSENTIAL PIECES OF THE BUSINESS MODEL NOT DIRECTLY ASSOCIATED WITH PERFORMANCES.
THE ORGANIZATION IS DEDICATED TO SERVING THE COMMUNITY'S NEED AND GROWING DEMAND FOR HIGH-QUALITY ARTS PROGRAMMING AND EDUCATION. THE ORGANIZATION DEVELOPS PROGRAMS TO INTRODUCE AND GARNER A LOVE FOR THE ARTS IN THE YOUNG COMMUNITY MEMBERS AND STUDENTS. THIS IS ACCOMPLISHED THROUGH PERFORMING ARTS CAMPS, WORKSHOPS AND PRODUCTIONS SPECIFICALLY FOR AND IN MANY CASES PERFORMED BY STUDENTS AND YOUTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Gresh Chair | OfficerTrustee | 10 | $0 |
Ron Carter Member | Trustee | 2 | $0 |
Ralph Knight Member | OfficerTrustee | 3 | $0 |
Alyssa Blanchard Member | Trustee | 2 | $0 |
Debbie Abernathy Member | Trustee | 5 | $0 |
Cassandra Buckalew Member | Trustee | 3.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $66,429 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $518,830 |
| Noncash contributions included in lines 1a–1f | $10,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $585,259 |
| Total Program Service Revenue | $1,551,609 |
| Investment income | $25,877 |
| 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 | $189,381 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,352,126 |
| 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 | $712,620 |
| 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 | $11,610 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,920 |
| Advertising and promotion | $0 |
| Office expenses | $6,620 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,805 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,509 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $196,822 |
| Insurance | $40,439 |
| All other expenses | $409,744 |
| Total functional expenses | $2,249,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $207,446 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $116,327 |
| Accounts receivable, net | $66,023 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $41,338 |
| Prepaid expenses and deferred charges | $29,289 |
| Net Land, buildings, and equipment | $3,522,822 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,020,244 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,418,083 |
| Total assets | $6,421,572 |
| Accounts payable and accrued expenses | $60,774 |
| Grants payable | $0 |
| Deferred revenue | $128,831 |
| 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 | $2,791,809 |
| Total liabilities | $2,981,414 |
| Net assets without donor restrictions | $3,252,803 |
| Net assets with donor restrictions | $187,355 |
| 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 | $6,421,572 |