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 05/2023, Fargo Theatre Management Corporation employed 33 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 05/2023, Fargo Theatre Management Corporation generated $553.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $692.8k during the year ending 05/2023. 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
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 ARTISTS 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. IN FISCAL YEAR 22-23, THE FARGO THEATRE SCREENED 42 NEW-RELEASE FILMS, 12 CLASSIC FILMS, AND 21 SPECIALTY FILM FESTIVALS/SERIES INCLUDING FARGO DOCS AND THE ND HUMAN RIGHTS FILM FESTIVAL. THE THEATRE ALSO HOSTED 57 LIVE EVENTS INCLUDING PERFORMANCES BY LOCAL ARTS ORGANIZATIONS AND PROFESSIONAL TOURING ARTISTS.THE THEATRE IS OPEN A MINIMUM OF SIX DAYS A WEEK, OFFERING A VARIETY OF MOTION PICTURES AND PERFORMANCES IN A HISTORIC SETTING. THE THEATRE TYPICALLY AVERAGES MORE THAN 67,000 AUDIENCES 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 BUILD COMMUNITY AND FOSTER CONVERSATION. THE FARGO THEATRE'S LONG-TERM OBJECTIVE IS TO CONTINUE TO MEET THE ARTISTIC AND ENTERTAIN NEEDS OF THE COMMUNITY AS THE CITY'S POPULATION GROWS. THEATRE PROGRAMMING STAFF AND VOLUNTEER TEAMS 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 FESTIVAL IS TO CELEBRATE FILM ARTISTRY WHILE CONNECTING LOCAL AUDIENCES TO INNOVATIVE, INDEPENDENT CINEMA AND THE ARTISTS RESPONSIBLE FOR CREATING IT. THE 2023 FESTIVAL RECEIVED 312 SUBMISSIONS FROM 26 COUNTRIES. THE JURIES SELECTED 101 FILMS TO PLAY IN COMPETITION. FESTIVAL LEADERS PROGRAMMED 6 FILMS TO PLAY AS INVITED SELECTIONS AND AN ADDITIONAL 45 VERY SHORT FILMS PLAYED AS A PART OF THE FESTIVAL'S 2 MINUTE MOVIE CONTEST. APPROXIMATELY 2,400 PATRONS ATTENDED THROUGHOUT THE FESTIVAL'S 5 DAYS OF SCREENINGS AND EVENTS. TWENTY-FIVE FILM ARTISTS TRAVELED TO FARGO TO ATTEND THEIR SCREENINGS AND INTERACT WITH AUDIENCES. THESE APPEARANCES ALSO ENABLED FORMAL EDUCATIONAL OPPORTUNITIES INCLUDING MODERATED INTERVIEWS AND GUEST ACADEMIC LECTURES. THERE WERE ALSO MANY INFORMAL OPPORTUNITIES FOR AUDIENCE MEMBERS AND LOCAL FILMMAKERS TO SOCIALIZE WITH VISITING ARTISTS OR ASK THEM QUESTIONS DURING Q&A SESSIONS.THE FARGO FILM FESTIVAL'S LONG-TERM OBJECTIVE IS TO CONTINUE PROVIDING AN EXHIBITION PLATFORM FOR INDEPENDENT FILMMAKERS WHILE GIVING LOCAL AUDIENCES EDUCATIONAL OPPORTUNITIES AND THE CHANGE TO SEE UNIQUE, ORIGINAL, AND ARTISTICALLY RELEVANT MOTION PICTURES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Tom Speer President | OfficerTrustee | 1 | $0 |
Amanda Booher Vice President | OfficerTrustee | 1 | $0 |
Karen Stensrud Secretary | Trustee | 1 | $0 |
Steve Wood Treasurer | Trustee | 1 | $0 |
Cody Schuler Board Member | Trustee | 1 | $0 |
Janet Brandau Board Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $48,289 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $19,499 |
All other contributions, gifts, grants, and similar amounts not included above | $84,167 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $151,955 |
Total Program Service Revenue | $342,385 |
Investment income | $6,306 |
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 | $53,045 |
Miscellaneous Revenue | $0 |
Total Revenue | $553,691 |
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. | $85,022 |
Compensation of current officers, directors, key employees. | $35,186 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $149,675 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $8,476 |
Payroll taxes | $25,172 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $11,776 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $4,883 |
Office expenses | $47,410 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $107,685 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $17,202 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $125,679 |
Insurance | $13,888 |
All other expenses | $774 |
Total functional expenses | $692,782 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $478,466 |
Pledges and grants receivable | $2,100 |
Accounts receivable, net | $12,300 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $5,162 |
Prepaid expenses and deferred charges | $4,754 |
Net Land, buildings, and equipment | $1,222,903 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $13,759 |
Total assets | $1,739,444 |
Accounts payable and accrued expenses | $26,445 |
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 | $337,978 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $13,938 |
Total liabilities | $378,361 |
Net assets without donor restrictions | $1,358,983 |
Net assets with donor restrictions | $2,100 |
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 | $1,739,444 |