Legacy Theatre
- Assets
- $5.3m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 40
- Location
- Branford, CT
- Founding
- 08/2012
- Data as of
- 12/2023
- EIN
- 45-2855557
Organization Overview
Legacy Theatre is located in Branford, CT. The organization was established in 2012. According to its NTEE Classification (A65) the organization is classified as: Theater, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Legacy Theatre employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legacy Theatre 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 12/2023, Legacy Theatre generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $1.7m during the year ending 12/2023. 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
THE LEGACY THEATRE IS A PROFESSIONAL THEATRE COMPANY THAT ENHANCES THE CONNECTICUT SHORELINE'S ECONOMY, EDUCATIONAL OPPORTUNITIES AND QUALITY OF LIFE THROUGH LIVE THEATRE AND RELATED PROGRAMS. THE LEGACY STRIVES TO BE A PREMIERE ARTS HOUSE FOR LOCAL ARTISTS, PROFESSIONAL COMPANIES, AND TO ENSURE ONGOING SEASONS OF UPLIFTING, INSPIRING, AND CHALLENGING PROFESSIONAL THEATRE AND THEATRE TRAINING FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2023 SEASON OF PERFORMANCES AND EVENTS
2023 EDUCATIONAL PROGRAMS
THE THEATRE COMPLETED CONSTUCTION OF ITS PREMIER ARTS HOUSE IN 2022 BY REHABILITATING AND PRESERVING A PRE-EXISTING HISTORICAL BUILDING IN STONY CREEK, CT. CONSTRUCTION OF THE THEATRE WAS NECESSARY TO ENHANCE THE SHORELINE'S ECONOMY AND PROVIDE HIGH QUALITY THEATRE AND EDUCATIONAL OPPORTUNITIES FOR THE COMMUNITY. THE PROJECT WAS SUPPORTED IN PART BY THE HISTORICAL REHABILITATION TAX CREDIT PROGRAM THROUGH THE CT STATE HISTORIC PRESERVATION OFFICE, DEPARTMENT OF ECONONIC AND COMMUNITY DEVELOPMENT. UPON COMPLETION OF THE PROJECT THE THEATRE FINALIZED ITS APPLICATION FOR THE TAX CREDIT AND RECEIVED APPROVAL. THE TAX CREDIT WAS SOLD IN 2023 AND THE THEATRE USED THE PROCEEDS TO OFFSET CONSTRUCTION COSTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Williams President | OfficerTrustee | 10 | $3,096 |
Jana Shea Vice President | OfficerTrustee | 3 | $0 |
Kathleen Murphy Secretary | OfficerTrustee | 5 | $0 |
John L Williams Treasurer | OfficerTrustee | 5 | $0 |
Tom Shea Trustee | Trustee | 3 | $0 |
Katina Gionteris Trustee | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $676 |
| Related organizations | $0 |
| Government grants | $51,434 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,119,485 |
| Noncash contributions included in lines 1a–1f | $463,183 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,171,595 |
| Total Program Service Revenue | $1,364,337 |
| Investment income | $12 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,244 |
| Net Income from Fundraising Events | -$750 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,529,950 |
| 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. | $183,064 |
| Compensation of current officers, directors, key employees. | $67,724 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $348,930 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,433 |
| Payroll taxes | $45,706 |
| Fees for services: Management | $3,000 |
| Fees for services: Legal | $3,199 |
| Fees for services: Accounting | $19,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $1,400 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,967 |
| Advertising and promotion | $95,317 |
| Office expenses | $52,724 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $72,153 |
| Travel | $1,836 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $125,132 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $307,346 |
| Insurance | $34,666 |
| All other expenses | $0 |
| Total functional expenses | $1,709,133 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,810 |
| 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 | $5,059,935 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $800 |
| Total assets | $5,278,545 |
| 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 | $2,000,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,259,300 |
| Total liabilities | $3,259,300 |
| Net assets without donor restrictions | $2,019,245 |
| 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 | $5,278,545 |