Studio Players Inc
- Assets
- $538.2k
- Revenue
- $53.3k
- Investments
- $16.9k
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 07/1980
- Data as of
- 06/2022
- EIN
- 31-0987123
Organization Overview
Studio Players Inc is located in Lexington, KY. The organization was established in 1980. 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. Studio Players 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 06/2022, Studio Players Inc generated $53.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.2%) each year. All expenses for the organization totaled $85.2k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 7 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
NON-PROFIT COMMUNITY THEATRE
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDIO PLAYERS INC. HAS ONE PROGRAM SERVICE: TO PROVIDE QUALITY THEATRICAL PERFORMANCES TO OUR COMMUNITY AT AN AFFORDABLE PRICE POINT. STUDIO PLAYERS INC. ALONG WITH MANY OTHER THEATRE GROUPS SUFFERED SIGNIFICANT DIFFICULTIES IN THE 18 MONTHS THAT FOLLOWED OUR MARCH 2020 CLOSURE DUE TO THE COVID PANDEMIC. FORTUNATELY UNLIKE MANY ORGANIZATIONS WE WERE ABLE TO MAINTAIN A PRESENCE WITH PERFORMANCES ON-LINE AND INFORMATION PROVIDED THROUGH OUR WEB SITE AND OTHER ON--LINE PROGRAMS. WE ELECTED TO REOPEN IN SEPTEMBER 2020 BUT WITH SEATING LIMITED TO 70% OF CAPACITY AND STRONG ENCOURAGEMENT FOR PATRONS TO WEAR FACE MASKS. WE RARELY SOLD ALL OF THE 76 SEATS AVAILABLE SO OUR REVENUES WERE SIGNIFICANTLY LOWER THAN THEY HAD BEEN IN THE LAST FULL SEASON IN 2018-2019. THE ORGANIZATION DID OPEN WITH ALL 110 SEATS AVAILABLE IN THE 2021-2022 SEASON. ATTENDANCE CONTINUED TO BE SPORADIC BUT CONTINUED TO GROW THROUGH THE SEASON. TOTAL ATTENDANCE FOR THE SEASON WAS 2,397 AN AVERAGE OF 48 ATTENDEES PER PERFORMANCE. EVEN IN THE CURRENT 2022-2023 SEASON ATTENDANCE WHILE CONTINUING TO IMPROVE IS BELOW THE 2018-2019 LEVEL. BUT THE ORGANIZATION HAS SURVIVED - A MAJOR ACCOMPLISHMENT SIGNIFICANTLY BASED ON OUR RELIANCE ON VOLUNTEERS FOR A LOT OF OUR ACTIVITIES. WE ARE AT A POINT WHERE OUR TICKET SALES ARE JUST ABOUT COVERING THE COSTS OF SHOW PRODUCTION. THERE STILL REMAIN COSTS JUST TO KEEP THE DOORS OPEN HOWEVER AND WE HAVE BEEN ABLE TO COVER THOSE WITH FUNDS RESERVED OVER THE YEARS JUST FOR THIS PURPOSE. WE CONTINUE TO REACH OUT TO THE COMMUNITY TO ATTRACT NEW VOLUNTEERS AND OFFER HIGH QUALITY ENTERTAINMENT AT VERY REASONABLE PRICES. WE BELIEVE THESE EFFORTS WILL LEAD TO INCREASED ATTENDANCE AND DONATIONS WILL HELP US TO IMPROVE OUR OVERALL FINANCIAL CONDITION.
NONE
NONE
STUDIO PLAYERS INC. HAS ONE PROGRAM SERVICE: TO PROVIDE QUALITY THEATRICAL PERFORMANCES TO OUR COMMUNITY AT AN AFFORDABLE PRICE POINT. STUDIO PLAYERS INC. ALONG WITH MANY OTHER THEATRE GROUPS SUFFERED SIGNIFICANT DIFFICULTIES IN THE 18 MONTHS THAT FOLLOWED OUR MARCH 2020 CLOSURE DUE TO THE COVID PANDEMIC. FORTUNATELY UNLIKE MANY ORGANIZATIONS WE WERE ABLE TO MAINTAIN A PRESENCE WITH PERFORMANCES ON-LINE AND INFORMATION PROVIDED THROUGH OUR WEB SITE AND OTHER ON--LINE PROGRAMS. WE ELECTED TO REOPEN IN SEPTEMBER 2020 BUT WITH SEATING LIMITED TO 70% OF CAPACITY AND STRONG ENCOURAGEMENT FOR PATRONS TO WEAR FACE MASKS. WE RARELY SOLD ALL OF THE 76 SEATS AVAILABLE SO OUR REVENUES WERE SIGNIFICANTLY LOWER THAN THEY HAD BEEN IN THE LAST FULL SEASON IN 2018-2019. THE ORGANIZATION DID OPEN WITH ALL 110 SEATS AVAILABLE IN THE 2021-2022 SEASON. ATTENDANCE CONTINUED TO BE SPORADIC BUT CONTINUED TO GROW THROUGH THE SEASON. TOTAL ATTENDANCE FOR THE SEASON WAS 2,397 AN AVERAGE OF 48 ATTENDEES PER PERFORMANCE. EVEN IN THE CURRENT 2022-2023 SEASON ATTENDANCE WHILE CONTINUING TO IMPROVE IS BELOW THE 2018-2019 LEVEL. BUT THE ORGANIZATION HAS SURVIVED - A MAJOR ACCOMPLISHMENT SIGNIFICANTLY BASED ON OUR RELIANCE ON VOLUNTEERS FOR A LOT OF OUR ACTIVITIES. WE ARE AT A POINT WHERE OUR TICKET SALES ARE JUST ABOUT COVERING THE COSTS OF SHOW PRODUCTION. THERE STILL REMAIN COSTS JUST TO KEEP THE DOORS OPEN HOWEVER AND WE HAVE BEEN ABLE TO COVER THOSE WITH FUNDS RESERVED OVER THE YEARS JUST FOR THIS PURPOSE. WE CONTINUE TO REACH OUT TO THE COMMUNITY TO ATTRACT NEW VOLUNTEERS AND OFFER HIGH QUALITY ENTERTAINMENT AT VERY REASONABLE PRICES. WE BELIEVE THESE EFFORTS WILL LEAD TO INCREASED ATTENDANCE AND DONATIONS WILL HELP US TO IMPROVE OUR OVERALL FINANCIAL CONDITION.
NONE
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Meadows Trustee | Trustee | 10 | $950 |
Gary Mccormick President Elect | Officer | 12 | $750 |
Sam Jenkins Smith President | Officer | 8 | $700 |
Carly Preston Past President | Officer | 8 | $0 |
David Bratcher Treasurer | Officer | 15 | $0 |
Ellen Hellard Secretary | Officer | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $50 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,018 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,068 |
| Total Program Service Revenue | $43,782 |
| Investment income | $1,489 |
| 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 | $53,339 |
| 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. | $3,100 |
| 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 | $5,710 |
| Office expenses | $1,433 |
| Information technology | $438 |
| Royalties | $6,985 |
| Occupancy | $21,114 |
| 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 | $0 |
| Insurance | $5,364 |
| All other expenses | $2,362 |
| Total functional expenses | $85,204 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,006 |
| Savings and temporary cash investments | $232,223 |
| 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 | $200,000 |
| Investments—publicly traded securities | $1,070 |
| Investments—other securities | $16,893 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $538,192 |
| 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 | $538,192 |
| 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 | $538,192 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Studio Players Inc has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Ibm International Foundation Armonk, NY PURPOSE: EMPLOYEE MATCHING GRANT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Repertory Theatre Of St Louis Saint Louis, MO | $11,243,335 | $8,131,352 |
Theater League Inc Kansas City, MO | $27,534,408 | $1,974,369 |
Signature Theatre Inc Arlington, VA | $13,654,259 | $8,861,886 |
Cleveland Play House Cleveland, OH | $14,846,065 | $7,810,747 |
Kansas City Repertory Theatre Inc Kansas City, MO | $16,549,534 | $6,035,764 |
Actors Theatre Of Louisville Inc Louisville, KY | $21,191,144 | $5,821,422 |
Black Ensemble Theater Corporation Chicago, IL | $20,384,078 | $7,980,643 |
Indiana Repertory Theatre Inc Indianapolis, IN | $37,888,080 | $6,579,183 |
Lookingglass Theatre Company Chicago, IL | $2,356,485 | $3,866,114 |
Childrens Theatre Of Cincinnati Cincinnati, OH | $17,028,934 | $8,914,508 |
Writers Theatre Inc Glencoe, IL | $34,601,018 | $3,459,112 |
Great Lakes Theater Festival Inc Cleveland, OH | $6,916,721 | $4,972,488 |