Friends Of The Strand Theatre
- Assets
- $697.1k
- Revenue
- $941.6k
- Investments
- $0.0
- Employees
- 11
- Location
- Rockland, ME
- Founding
- 11/2013
- Data as of
- 06/2020
- EIN
- 46-3330177
Organization Overview
Friends Of The Strand Theatre is located in Rockland, ME. The organization was established in 2013. According to its NTEE Classification (A31) the organization is classified as: Film & Video, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Friends Of The Strand Theatre employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of The Strand 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 06/2020, Friends Of The Strand Theatre generated $941.6k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $746.0k during the year ending 06/2020. While expenses have increased by 0.5% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY PURPOSE OF THE CORPORATION IS TO OWN AND OPERATE THE STRAND THEATER IN ROCKLAND MAINE FOR EDUCATIONAL PURPOSES. THE ORGANIZATION WILL: MAKE AVAILABLE CULTURAL AND CREATIVE EVENTS AND TRADITIONAL THEATER; PROMOTE AND ADVANCE SHARED CULTURAL AND CREATIVE EXPERIENCES IN THE COMMUNITY; ENHANCE THE QUALITY OF LIFE BY PRESERVING AND MAINTAINING THE STRAND THEATRE AS A HISTORIC AND VALUABLE COMMUNITY ASSET; AND ENGAGE IN ANY OTHER LAWFUL ACTIVITY THAT MAY BE AUTHORIZED BY THE BOARD OF DIRECTORS THAT IS CONSISTENT WITH SECTION 501(C)(3).
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FRIENDS OF THE STRAND THEATRE, INC. OWNS, MAINTAINS, AND OPERATES THE STRAND THEATRE FOR THE BENEFIT OF THE LOCAL COMMUNITY OF FILM, MUSIC, THEATER, AND ARTS SUPPORTERS. THE THEATER OFFERS A YEAR-ROUND PROGRAM OF FILM, LIVE MUSIC AND OTHER SPECIAL EVENTS; THE THEATERS DIVERSE PROGRAMMING SHOWS ITS COMMITMENT TO SERVING THE NEEDS OF THE LOCAL COMMUNITY. THE STRAND ALSO CURRENTLY OFFERS STUDENT PRICES ON HD EVENTS, WHICH DEMONSTRATES OUR ORGANIZATIONS COMMITMENT TO MAKING GREAT PERFORMANCES AVAILABLE TO LOCAL HIGH SCHOOL AND COLLEGE STUDENTS. THE ORGANIZATION INTENDS TO CONTINUE THESE SUBSIDIZED TICKET PRICES AND OFFER ADDITIONAL SUBSIDIES TO SCHOOL GROUPS, INCLUDING HELPING TO COVER TRANSPORTATION COSTS. ORGANIZATIONS THROUGHOUT THE COMMUNITY RENT THE STRAND TO HOLD THEIR FUNDRAISERS AND OTHER EVENTS. THE FRIENDS OF THE STRAND THEATRE SUBSIDIZES THESE EVENTS BY OFFERING SPECIAL DISCOUNTED RATES TO NON-PROFIT ORGANIZATIONS IN ORDER TO SUPPORT THEIR EVENTS AND FUNDRAISING EFFORTS, AND ALSO TO PROVIDE A VENUE ON MAIN STREET WHERE SUCH COMMUNITY EVENTS CAN BE CENTRALLY LOCATED. THE SUBSIDIZED RATES ALLOW THE RENTING ORGANIZATIONS THE FLEXIBILITY TO MAKE THEIR EVENTS FREE OR LOW-COST AS WELL AS ENABLING THEM TO RE-INVEST THE FUNDS RAISED FROM THE EVENTS INTO THEIR OWN BUDGETS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellen Seidman Chairman | OfficerTrustee | 4 | $0 |
Roy Hitchings Jr Treasurer | OfficerTrustee | 2 | $0 |
Norman Thomas Secretary | OfficerTrustee | 2 | $0 |
John Bird Director | Trustee | 0.5 | $0 |
Joanne Billington Director | Trustee | 0.5 | $0 |
Jo Dondis Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $539,803 |
| Investment income | $3,326 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,384 |
| Net Gain/Loss on Asset Sales | -$2,657 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $38,054 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $941,611 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $309,643 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,128 |
| Payroll taxes | $25,166 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,918 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $30,889 |
| Office expenses | $36,492 |
| Information technology | $9,838 |
| Royalties | $0 |
| Occupancy | $56,910 |
| Travel | $1,936 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,703 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,682 |
| Insurance | $14,089 |
| All other expenses | $0 |
| Total functional expenses | $746,039 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120,772 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,664 |
| 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 | $12,893 |
| Investments—publicly traded securities | $240,322 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,922 |
| Other assets | $10,780 |
| Total assets | $697,095 |
| Accounts payable and accrued expenses | $2,611 |
| Grants payable | $0 |
| Deferred revenue | $22,059 |
| 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 | $30,411 |
| Total liabilities | $55,081 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $642,014 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Friends Of The Strand Theatre has recieved totaling $79,290.
| Awarding Organization | Amount |
|---|---|
Amalgamated Charitable Foundation Inc Washington, DC PURPOSE: General operating support | $25,000 |
Anonimo Foundation Damariscotta, ME PURPOSE: OPERATIONS SUPPORT | $10,000 |
Cascade Foundation Rockport, ME PURPOSE: ARTS AND CULTURE | $10,000 |
Onion Foundation Wayne, ME PURPOSE: GENERAL PURPOSE | $7,500 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $6,526 |
Wyeth Foundation Chadds Ford, PA PURPOSE: SUPPORTCOMMUNITY THEATER& EDUCATION PROGRAMS | $5,000 |
Endowment Analysis
| Beg. Balance | $143,889 |
| Earnings | $16,038 |
| Net Contributions | $64,191 |
| Other Expense | $78,697 |
| Ending Balance | $145,421 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Points North Institute Camden, ME | $1,316,546 | $1,770,861 |
Friends Of The Strand Theatre Rockland, ME | $697,095 | $941,611 |
Red River Theatres Inc Concord, NH | $1,143,981 | $542,206 |
Emerge Film Festival Auburn, ME | $9,534 | $0 |
Vetflix Inc Brookline, NH | $21,811 | $0 |
Coruway Film Institute Rollinsford, NH | $1,864 | $0 |
New Hampshire Film Expo Portsmouth, NH | $156,384 | $0 |
Alliance For Community Education Kittery Point, ME | $0 | $0 |