Steppenwolf Theater Co
- Assets
- $122.0m
- Revenue
- $28.5m
- Investments
- $0.0
- Employees
- 385
- Location
- Chicago, IL
- Founding
- 08/1976
- Data as of
- 08/2022
- EIN
- 51-0149370
Organization Overview
Steppenwolf Theater Co is located in Chicago, IL. The organization was established in 1976. 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 08/2023, Steppenwolf Theater Co employed 385 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Steppenwolf Theater Co 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 08/2022, Steppenwolf Theater Co generated $28.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $18.3m during the year ending 08/2022. While expenses have increased by 1.2% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
STEPPENWOLF IS AMERICA'S LEADING ENSEMBLE THEATER, LAUNCHING PAD FOR NEW PLAYS, AND VISIONARY ARTS EDUCATION CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN SUPPORT OF OUR CORE ARTISTIC TENETS, WE SEEK TO 1) SERVE AS AN ARTISTIC HOME FOR OUR ENSEMBLE AND A LAUNCHING PAD FOR BOLD, NEW WORK; 2) AMPLIFY THE VOICES OF CHICAGO TEENS AND CULTIVATE FUTURE GENERATIONS OF ARTISTS AND ENTHUSIASTS; AND 3) PROVIDE A COLLABORATIVE SPACE FOR INDEPENDENT ARTISTS AND COMPANIES TO PROMOTE A STRONGER, SUSTAINABLE, AND VIBRANT ARTS COMMUNITY.STEPPENWOLF PRODUCES HUNDREDS OF PERFORMANCES AND EVENTS IN ITS THREE SPACES: THE 500-SEAT DOWNSTAIRS THEATER; THE 400-SEAT ENSEMBLE THEATER; AND THE 80-SEAT 1700 THEATER. ARTISTIC PROGRAMMING INCLUDES A MAIN STAGE SEASON OF NEW WORK AND REIMAGINED PLAYS; A TWO-PLAY STEPPENWOLF FOR YOUNG ADULTS SEASON; AND LOOKOUT, A MULTI-GENRE PERFORMANCE SERIES THAT GIVES A PLATFORM TO LOCAL EMERGING ARTISTS, QUINTESSENTIAL CHICAGO COMPANIES, AND YOUNG ASPIRING ENSEMBLES.REACHING OVER 15,000 TEENS, EDUCATORS, EARLY-CAREER PROFESSIONALS, AND COMMUNITY MEMBERS FROM ACROSS CHICAGO'S 77 NEIGHBORHOODS ANNUALLY, STEPPENWOLF EDUCATION CONSISTS OF IN-SCHOOL PROGRAMS, TEEN PROGRAMS, EDUCATOR TRAINING FOR CLASSROOM TEACHERS AND TEACHING ARTISTS, AND STEPPENWOLF FOR YOUNG ADULTS (SYA).IN 2023, TOTAL PERFORMANCES AND ATTENDANCE INCREASED 67% AND 49%, RESPECTIVELY FROM FISCAL 2022. THIS REPRESENTS A MORE COMPLETE RETURN TO LIVE PERFORMANCES THAN 2022, WHICH SUFFERED FROM PARTIAL COVID CLOSURES THROUGH THE YEAR. FINANCIALLY, THE 2022 SEASON WAS SUPPORTED BY THE RECOGNITION OF FEDERAL REVENUE (PPP LOANS AND THE SHUTTERED VENUE OPERATORS' GRANT) AND THIS SURPLUS WAS CARRIED FORWARD TO PARTIALLY OFFSET THE OPERATING DEFICIT INCURRED IN FISCAL 2023. ADDITIONALLY, STEPPENWOLF TRANSFERRED 2.5 TIMES ITS ANNUAL DRAW LEVEL ($2,755,000) FROM UNRESTRICTED ENDOWMENT FUNDS TO BOTH FURTHER OFFSET THE 2023 DEFICIT AND FUND OPERATING CASH FLOWS. STEPPENWOLF IS ENGAGED IN STRATEGIC PLANNING TO INCREASE EARNED REVENUES, SUPPLEMENT FUNDRAISING TO COMPENSATE FOR THE LOSS OF EARNED INCOME AND CONTAIN EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Audrey Francis Co-Artistic Director | OfficerTrustee | 40 | $244,906 |
Glenn Davis Co-Artistic Director | OfficerTrustee | 40 | $241,427 |
Yasen Peyankov Trustee | Trustee | 5 | $55,051 |
Sandra Marquez Trustee | Trustee | 5 | $17,100 |
Karen Rodriguez Trustee | Trustee | 5 | $16,857 |
Jon Michael Hill Trustee | Trustee | 5 | $7,935 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Capacity Interactive Website Maintenance | 8/30/23 | $192,075 |
D&b Graphics Printing | 8/30/23 | $362,333 |
Ls Contracting Group Inc General Contractor | 8/30/23 | $188,429 |
Midway Building Services Cleaning Services | 8/30/23 | $273,279 |
Tessitura Network Inc Network Services | 8/30/23 | $152,929 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,785,140 |
| Related organizations | $0 |
| Government grants | $14,819,371 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,034,634 |
| Noncash contributions included in lines 1a–1f | $411,654 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,639,145 |
| Total Program Service Revenue | $3,587,055 |
| Investment income | $688,603 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $74,750 |
| Net Rental Income | $70,234 |
| Net Gain/Loss on Asset Sales | $332,296 |
| Net Income from Fundraising Events | -$193,619 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $233,288 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,518,890 |
| 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. | $968,987 |
| Compensation of current officers, directors, key employees. | $278,415 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,241,472 |
| Pension plan accruals and contributions | $178,268 |
| Other employee benefits | $999,373 |
| Payroll taxes | $569,892 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,620 |
| Fees for services: Accounting | $89,829 |
| Fees for services: Lobbying | $10,000 |
| Fees for services: Fundraising | $118,000 |
| Fees for services: Investment Management | $70,799 |
| Fees for services: Other | $169,821 |
| Advertising and promotion | $491,021 |
| Office expenses | $381,094 |
| Information technology | $423,158 |
| Royalties | $196,847 |
| Occupancy | $2,001,211 |
| Travel | $379,741 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,577 |
| Interest | $1,115,909 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,232,316 |
| Insurance | $244,090 |
| All other expenses | $105,414 |
| Total functional expenses | $18,320,611 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,175,975 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $16,839,042 |
| Accounts receivable, net | $96,021 |
| 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 | $776,825 |
| Net Land, buildings, and equipment | $65,592,624 |
| Investments—publicly traded securities | $21,725,074 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,788,024 |
| Total assets | $121,993,585 |
| Accounts payable and accrued expenses | $723,246 |
| Grants payable | $0 |
| Deferred revenue | $1,892,833 |
| Tax-exempt bond liabilities | $48,788,213 |
| 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 | $4,938,792 |
| Total liabilities | $56,343,084 |
| Net assets without donor restrictions | $52,210,042 |
| Net assets with donor restrictions | $13,440,459 |
| 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 | $121,993,585 |