Ironwood Theatre Inc
- Assets
- $901.9k
- Revenue
- $305.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Ironwood, MI
- Founding
- 03/1989
- Data as of
- 09/2023
- EIN
- 38-2833204
Organization Overview
Ironwood Theatre Inc is located in Ironwood, MI. The organization was established in 1989. 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 09/2023, Ironwood Theatre Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ironwood 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 09/2023, Ironwood Theatre Inc generated $305.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $334.0k during the year ending 09/2023. While expenses have increased by 8.1% per year over the past 8 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 VISION OF THE HISTORIC IRONWOOD THEATRE IS ALL GENERATIONS PERSONALLY EXPERIENCE THE JOY OF THEATRE COMMUNITY.MISSION: TO PRESERVE AND PROVIDE AN ICONIC FACILITY WHERE EVERYONE IS INVITED TO DISCOVER AND ENJOY THE PERFORMING ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAIN THE HISTORIC IRONWOOD THEATRE, PROVIDING DIVERSE, HIGH QUALITY ENTERTAINMENT, ENCOURAGE AND FACILITATE YOUTH ENGAGMENT IN THE CRATION OF PREFORMING ARTS, AND THROUGH COOPERATIVE PROGRAMING PROVIDE A VEHICLE FOR OTHER COMMUNITY ORGANIZATIONS TO EXPOSE AREA RESIDENTS AND VISITORS TO THE ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandy Bentley Board Member | Trustee | 1 | $0 |
Dan Tregembo Board Member | Trustee | 1 | $0 |
Rich Jenkins Board Member | Trustee | 2 | $0 |
Stacy Wood Board Member | Trustee | 2 | $0 |
Rick Semo Board Member | Trustee | 5 | $0 |
Douglas Muskett Vice President | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,893 |
| Related organizations | $0 |
| Government grants | $21,957 |
| All other contributions, gifts, grants, and similar amounts not included above | $118,051 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $142,901 |
| Total Program Service Revenue | $158,587 |
| Investment income | $3,823 |
| 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 | $305,311 |
| 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. | $77,674 |
| Compensation of current officers, directors, key employees. | $15,535 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,666 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $878 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,057 |
| Fees for services: Other | $87,790 |
| Advertising and promotion | $13,864 |
| Office expenses | $20,931 |
| Information technology | $0 |
| Royalties | $10,162 |
| Occupancy | $28,476 |
| 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 | $36,868 |
| Insurance | $8,395 |
| All other expenses | $0 |
| Total functional expenses | $333,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,757 |
| Savings and temporary cash investments | $358,860 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $685 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $981 |
| Prepaid expenses and deferred charges | $5,542 |
| Net Land, buildings, and equipment | $390,246 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $122,840 |
| Total assets | $901,911 |
| Accounts payable and accrued expenses | $12,640 |
| Grants payable | $0 |
| Deferred revenue | $15,127 |
| 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 | $7,728 |
| Other liabilities | $0 |
| Total liabilities | $35,495 |
| Net assets without donor restrictions | $866,416 |
| 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 | $901,911 |