Wellington Ritz Theatre Inc
- Assets
- $315.3k
- Revenue
- $470.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Wellington, TX
- Founding
- 04/2008
- Data as of
- 12/2021
- EIN
- 26-0377669
Organization Overview
Wellington Ritz Theatre Inc is located in Wellington, TX. The organization was established in 2008. According to its NTEE Classification (A65) the organization is classified as: Theater, 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. Wellington Ritz 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 12/2021, Wellington Ritz Theatre Inc generated $470.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $295.6k during the year ending 12/2021. While expenses have increased by 1.9% 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
NOT-FOR-PROFIT ORGANIZATION THAT EXISTS TO MAINTAIN, PROMOTE AND OPERATE THE HISTORIC RITZ THEATRE IN DOWNTOWN WELLINGTON, TEXAS AS A REGIONAL CENTER FOR ARTS AND CULTURE EDUCATION AND POPULAR CINEMA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WELLINGTON RITZ THEATRE, INC. WAS ORGANIZED TO MAINTAIN, PROMOTE AND OPERATE THE HISTORIC RITZ THEATRE IN DOWNTOWN WELLINGTON AS A COMMUNITY AND REGIONAL CENTER FOR ARTS, CULTURE, EDUCATION AND THE APPRECIATION OF CINEMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margret Wood President | Officer | 1 | $0 |
Drew Thornberry Vice-President | Officer | 1 | $0 |
Toni Cummings Treasurer | Officer | 1 | $0 |
Katherine Reeves Secretary | Officer | 1 | $0 |
Bob Owens Director | Trustee | 1 | $0 |
Justin Mixon Director | Trustee | 1 | $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 | $340,772 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $340,772 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,504 |
| Net Gain/Loss on Asset Sales | $12,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $39,612 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $470,468 |
| 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 | $49,164 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,798 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,390 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,599 |
| Office expenses | $2,447 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $4,418 |
| Insurance | $14,837 |
| All other expenses | $25,472 |
| Total functional expenses | $295,632 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $249,012 |
| 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 | $66,334 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $315,346 |
| 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 | $11,097 |
| Total liabilities | $11,097 |
| Net assets without donor restrictions | $304,249 |
| 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 | $315,346 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wellington Ritz Theatre Inc has recieved totaling $192,000.
| Awarding Organization | Amount |
|---|---|
Zephyr Foundation Wellington, TX PURPOSE: GENERAL OPERATING SUPPORT FOR 2021 AND GRANT FOR IMPROVEMENTS | $192,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alley Theatre Houston, TX | $99,755,068 | $20,544,932 |
Austin Theatre Alliance Austin, TX | $11,051,816 | $12,251,946 |
Theatre Squared Inc Fayetteville, AR | $37,817,681 | $7,945,309 |
Dallas Theater Center Dallas, TX | $4,686,048 | $4,047,540 |
Theatre Under The Stars Inc Houston, TX | $18,210,122 | $4,859,811 |
Zachary Scott Theater Center Austin, TX | $13,760,280 | $6,657,993 |
A D Players Houston, TX | $31,582,319 | $3,073,769 |
Creative Action Austin, TX | $3,479,965 | $2,986,946 |
Plano Childrens Theatre Plano, TX | $1,873,883 | $3,548,642 |
Main Street Theater Houston Houston, TX | $3,176,471 | $2,765,553 |
Lyric Theatre Of Oklahoma Inc Oklahoma City, OK | $13,499,880 | $4,030,124 |
International Alliance Theatrical Stage Employees & Moving Picture New Orleans, LA | $12,003,795 | $3,171,295 |