Levelland Wallace Theater
- Assets
- $3.2m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 7
- Location
- Levelland, TX
- Founding
- 10/2015
- Data as of
- 12/2023
- EIN
- 47-4633578
Organization Overview
Levelland Wallace Theater is located in Levelland, TX. The organization was established in 2015. 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, Levelland Wallace Theater employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Levelland Wallace Theater 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, Levelland Wallace Theater generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 41.0% each year . All expenses for the organization totaled $375.9k during the year ending 12/2023. While expenses have increased by 29.5% 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
RESTORATION AND RENOVATION OF THE WALLACE THEATER; TO BECOME THE PREMIERE CINEMA AND LIVE PERFORMANCE VENUE IN WEST TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED NUMEROUS LIVE PERFORMANCE SHOWS FOR THE WEST TEXAS COMMUNITY, INCLUDING MUSIC, MOVIES, EDUCATION AND COMEDY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caleb Baker Board Member | Trustee | 5 | $0 |
Stevi Foster Board Member | Trustee | 5 | $0 |
Joe Tubb Board Member | Trustee | 5 | $0 |
Randal Ramirez Board Member | Trustee | 5 | $0 |
Billon Palmer-Webb Board Member | Trustee | 5 | $0 |
Leeann Paxton Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,954,518 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,954,518 |
| Total Program Service Revenue | $72,480 |
| Investment income | $40,273 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $200 |
| 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 | -$5,411 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,077,362 |
| 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. | $49,961 |
| Compensation of current officers, directors, key employees. | $14,988 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $75,819 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,066 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,506 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,982 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,204 |
| Travel | $853 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,972 |
| Interest | $4,437 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,533 |
| Insurance | $18,329 |
| All other expenses | $65,317 |
| Total functional expenses | $375,933 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,033,736 |
| 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 | $71,075 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,108,841 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,213,652 |
| Accounts payable and accrued expenses | $19,702 |
| 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 | $237,625 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $257,327 |
| Net assets without donor restrictions | $2,956,325 |
| 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 | $3,213,652 |