Odeum Corporation
- Assets
- $2.8m
- Revenue
- $965.1k
- Investments
- $0.0
- Employees
- 14
- Location
- East Greenwich, RI
- Founding
- 12/1991
- Data as of
- 12/2021
- EIN
- 22-3115053
Organization Overview
Odeum Corporation is located in East Greenwich, RI. The organization was established in 1991. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Odeum Corporation employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Odeum Corporation 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 12/2021, Odeum Corporation generated $965.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $681.9k during the year ending 12/2021. While expenses have increased by 8.6% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND OPERATE A CULTURAL CENTER FOR THE ARTS WHICH FEATURES RESIDENT AND TOURING PROFESSIONALS, EDUCATIONAL PROGRAMS IN THE ARTS, AND LOCAL AMATEUR TALENT, BY MAINTAINING A HISTORICALLY SIGNIFICANT THEATER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION PROVIDES THEATER SPACE IN THE HISTORIC DISTRICT OF EAST GREENWICH RI. THE 420-SEAT THEATER, BUILT IN 1926, PLAYS HOST TO A WIDE-ARRAY OF ENTERTAINMENT FOR ALL AGE GROUPS, SUCH AS CONCERTS, COMEDY SHOWS, THEATERICAL PRODUCTIONS, MOVIES, AND OTHER COMMUNITY-DRIVEN EVENTS. IN 2014, THE THEATER BEGAN A MULTI-PHASE REHABILITATION PROJECT, MOSTLY FUNDED BY LOCAL CULTURAL GRANTS, THAT INCLUDED UPDATES TO ENSURE ADA AND FIRE-CODE COMPLIANCE, AS WELL AS TO REPAIR THE FAILING FA ADE AND IMPROVE THE THEATER'S COMMON AREAS. THE THEATER IS CURRENTLY IN THE FINAL PHASE OF THIS MULIT-PHASED PROJECT. LOCALLY, THE THEATER IS SEEN AS AN "ANCHOR" ON MAIN STREET EAST GREENWICH, BRINGING OVER 15,000 PATRONS TO THE DOWNTOWN AREA EACH YEAR, PROVIDING A BOOST IN SALES TO LOCAL RESTAURANTS AND SMALL BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Speca President | OfficerTrustee | 20 | $0 |
Bridget Shapiro Secretary | OfficerTrustee | 3 | $0 |
Steven Feinberg Vice President | OfficerTrustee | 2 | $0 |
Christopher Musella Treasurer | OfficerTrustee | 3 | $0 |
Terry Shea Director | Trustee | 0.5 | $0 |
Jeffrey Gladstone Director | Trustee | 0.5 | $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 | $518,474 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $518,474 |
| Total Program Service Revenue | $425,104 |
| Investment income | $912 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $475 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $20,170 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $965,135 |
| 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 | $144,351 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,070 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10 |
| Fees for services: Accounting | $18,863 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,350 |
| Office expenses | $2,002 |
| Information technology | $3,391 |
| Royalties | $0 |
| Occupancy | $23,011 |
| Travel | $267 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,905 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $77,128 |
| Insurance | $22,340 |
| All other expenses | $35,762 |
| Total functional expenses | $681,948 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,518 |
| Savings and temporary cash investments | $462,197 |
| Pledges and grants receivable | $59,491 |
| Accounts receivable, net | $19,059 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,634 |
| Prepaid expenses and deferred charges | $5,122 |
| Net Land, buildings, and equipment | $2,194,626 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,396 |
| Other assets | $0 |
| Total assets | $2,773,043 |
| Accounts payable and accrued expenses | $23,852 |
| Grants payable | $0 |
| Deferred revenue | $213,059 |
| 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 | $377,226 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $30,747 |
| Total liabilities | $644,884 |
| Net assets without donor restrictions | $2,114,818 |
| Net assets with donor restrictions | $13,341 |
| 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 | $2,773,043 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Odeum Corporation has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Providence Performing Arts Center Providence, RI | $61,822,286 | $33,498,809 |
Wang Theatre Inc Boston, MA | $18,276,113 | $31,405,491 |
Horace Bushnell Memorial Hall Corporation Hartford, CT | $69,994,331 | $15,110,595 |
Celebrity Series Of Boston Boston, MA | $21,295,635 | $11,486,131 |
Tremont Theatre Inc Boston, MA | $4,028,653 | $4,834,729 |
Stamford Center For The Arts Inc Stamford, CT | $18,714,807 | $7,026,118 |
Palace Theater Group Inc Waterbury, CT | $7,137,767 | $7,444,031 |
Cabot Performing Arts Center Inc Beverly, MA | $9,302,777 | $5,349,464 |
Boston Center For The Arts Inc Boston, MA | $29,580,802 | $3,268,105 |
The Wang Center For The Performing Arts Inc Boston, MA | $34,395,056 | $6,359,659 |
Worcester County Mechanics Association Worcester, MA | $9,068,606 | $3,158,410 |
South Shore Playhouse Associates Inc Cohasset, MA | $13,347,958 | $641,064 |