Fargo Theatre Management Corporation
- Assets
- $1.9m
- Revenue
- $869.3k
- Investments
- $0.0
- Employees
- 27
- Location
- Fargo, ND
- Founding
- 05/1984
- Data as of
- 05/2022
- EIN
- 45-0373698
Organization Overview
Fargo Theatre Management Corporation is located in Fargo, ND. The organization was established in 1984. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 05/2022, Fargo Theatre Management Corporation employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fargo Theatre Management 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 05/2022, Fargo Theatre Management Corporation generated $869.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $650.9k during the year ending 05/2022. 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
TO PRESERVE THE THEATRE AND PROMOTE THE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONE OF THE MISSIONS OF THE FARGO THEATRE IS TO MEET THE ARTISTIC AND ENTERTAINMENT NEEDS OF INCREASINGLY DIVERSE AUDIENCES, PERFORMERS AND FILMMAKERS. A DIVERSE SLATE OF FILM AND LIVE EVENTS PROVIDES THE COMMUNITY WITH A WIDE SELECTION OF ARTS PROGRAMMING. DUE TO THE COVID-19 PANDEMIC, THE FARGO THEATRE WAS FULLY SHUTTERED FOR NEARLY 14 MONTHS. THE THEATRE RESUMED DAILY FILM SCREENINGS ON JUNE 11, 2021 AND HAS BEEN OPEN WITHOUT INTERRUPTION SINCE. IN FY 21-22, THE FARGO THEATRE SCREENED 37 NEW-RELEASE FILMS, 14 CLASSIC FILMS, AND 15 SPECIALTY FILM FESTIVALS/EVENTS (INCLUDING THE ND HUMAN RIGHTS FILM FESTIVAL). THE THEATRE ALSO HOSTED 51 LIVE EVENTS INCLUDING PERFORMANCES BY LOCAL ARTS ORGANIZATIONS AND PROFESSIONAL TOURING ARTISTS.THE FARGO THEATRE IS OPEN A MINIMUM OF SIX DAYS A WEEK, OFFERING A VARIETY OF MOTION PICTURES AND EVENTS IN A HISTORIC SETTING. THE THEATRE TYPICALLY AVERAGES MORE THAN 67,000 AUDIENCE MEMBERS A YEAR. A VARIETY OF FREE OR LOW-COST PROGRAMMING IS ALSO OFFERED. THESE OPPORTUNITIES INCLUDE THE ANNUAL MARTIN LUTHER KING JR. DAY CELEBRATION AND HOLIDAY PIPES CONCERTS (FREE ADMISSION) AND THE KIDS' FLICKS MOVIE SERIES ($3 ADMISSION). THE THEATRE ALSO HOSTS A FREE MONTHLY FILM CLUB TO FOSTER CONVERSATION IN THE COMMUNITY. THE THEATRE'S LONG-TERM OBJECTIVE IS TO CONTINUE TO MEET THE ARTISTIC AND ENTERTAINMENT NEEDS OF THE COMMUNITY AS THE COMMUNITY CONTINUES TO GROW. FARGO THEATRE PROGRAMMING STAFF AND VOLUNTEER TEAM ENSURE THAT THE SLATE OF PROGRAMMING IS INCLUSIVE AND OFFERS DIVERSE ARTISTIC VOICES AND REPRESENTATION.
THE ANNUAL FARGO FILM FESTIVAL RECEIVES FILMS SUBMISSIONS FROM AROUND THE WORLD TO BE JURIED BY COMMUNITY VOLUNTEERS. THE GOAL OF THE FILM FESTIVAL IS TO CELEBRATE FILM ARTISTRY WHILE CONNECTING LOCAL AUDIENCES TO INNOVATIVE, INDEPENDENT CINEMA. THE 2022 FESTIVAL RECEIVED 331 FILM SUBMISSIONS FROM AROUND THE WORLD. THE JURIES SELECTED 104 FILMS TO PLAY AS A PART OF THE FESTIVAL. TYPICALLY, THE FARGO FILM FESTIVAL DRAWS AUDIENCE MEMBERS FROM ALL OVER THE REGION. AFTER TWO YEARS OF VIRTUAL EVENTS, THE FARGO FILM FESTIVAL RETURNED TO IN-PERSON SCREENINGS IN 2022. APPROXIMATELY 1,100 PATRONS ATTENDED. THIRTY-THREE FILM ARTISTS TRAVELED TO FARGO TO ATTEND THEIR SCREENINGS AND INTERACT WITH AUDIENCES. THESE APPEARANCES CREATE FORMAL EDUCATIONAL OPPORTUNITIES THROUGH MODERATED INTERVIEWS OR WORKSHOPS, AS WELL AS INFORMAL OPPORTUNITIES FOR AUDIENCE MEMBERS AND LOCAL FILMMAKERS TO SOCIALIZE WITH THESE BURGEONING ARTISTS.MANY FILMMAKERS WHO WERE UNABLE TO TRAVEL IN 2022 DUE TO COVID RESTRICTIONS PARTICIPATED IN VIRTUAL INTERVIEWS OR CONVERSATIONS. AUDIENCES WERE ABLE TO STREAM THESE CONVERSATIONS AT NO COST THROUGH THE FESTIVAL'S WEBSITE. THE FARGO FILM FESTIVAL'S LONG-TERM OBJECTIVE IS TO CONTINUE PROVIDING AN EXHIBITION PLATFORM FOR INDEPENDENT FILMMAKERS WHILE GIVING LOCAL AUDIENCES THE CHANCE TO SEE UNIQUE, ORIGINAL, AND ARTISTICALLY RELEVANT MOTION PICTURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily Beck Executive Director | Officer | 40 | $57,722 |
Betsy Dreessen Finance Manager | Officer | 10 | $17,625 |
Scott Strand President | OfficerTrustee | 1 | $0 |
Julie Peterson-Klein Vice President | OfficerTrustee | 1 | $0 |
Tom Speer Secretary | Trustee | 1 | $0 |
John Machacek Treasurer | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $53,585 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $416,693 |
| All other contributions, gifts, grants, and similar amounts not included above | $87,510 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $557,788 |
| Total Program Service Revenue | $281,268 |
| Investment income | $4,563 |
| 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 | $25,685 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $869,304 |
| 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. | $81,543 |
| Compensation of current officers, directors, key employees. | $33,926 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $139,644 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,334 |
| Payroll taxes | $22,450 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,623 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,933 |
| Office expenses | $44,699 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $84,808 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,661 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $126,677 |
| Insurance | $13,987 |
| All other expenses | $567 |
| Total functional expenses | $650,938 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $530,495 |
| Pledges and grants receivable | $2,195 |
| Accounts receivable, net | $20,727 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,037 |
| Prepaid expenses and deferred charges | $944 |
| Net Land, buildings, and equipment | $1,331,652 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,892,050 |
| Accounts payable and accrued expenses | $40,752 |
| 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 | $351,124 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $391,876 |
| Net assets without donor restrictions | $1,497,979 |
| Net assets with donor restrictions | $2,195 |
| 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 | $1,892,050 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Fargo Theatre Management Corporation has recieved totaling $21,172.
| Awarding Organization | Amount |
|---|---|
Fargo-Moorhead Area Foundation Corporation Fargo, ND PURPOSE: GENERAL SUPPORT | $12,060 |
The Arts Partnership Of The Red River Valley Fargo, ND PURPOSE: GENERAL OPERATING SUPPORT | $6,500 |
Xcel Energy Foundation Minneapolis, MN PURPOSE: ARTS AND CULTURE GRANT | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $112 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Springboard For The Arts Saint Paul, MN | $11,189,893 | $6,226,382 |
Penumbra Theatre Company Inc St Paul, MN | $11,072,613 | $11,767,246 |
Vermillion Development Company Vermillion, SD | $13,347,571 | $1,278,713 |
Great River Educational Arts Theatre Waite Park, MN | $2,124,043 | $1,298,564 |
The Cedar Cultural Center Inc Minneapolis, MN | $2,037,241 | $1,717,061 |
The Fitzgerald Theater Company St Paul, MN | $560 | $643,988 |
Echo Ministries Inc St Paul, MN | $978,838 | $1,341,066 |
Fargo Theatre Management Corporation Fargo, ND | $1,892,050 | $869,304 |
Minnesota Crop Production Retailers Minnetonka, MN | $432,818 | $533,286 |
Hot Summer Jazz Festival Maplewood, MN | $190,330 | $633,699 |
Creative Plains Foundation Fargo, ND | $0 | $107,526 |
League Of Minnesota Cities Building Company Inc Saint Paul, MN | $6,477,208 | $833,033 |