Two River Theatre Company
- Assets
- $129.6m
- Revenue
- $4.2m
- Investments
- $88.0m
- Employees
- 196
- Location
- Red Bank, NJ
- Founding
- 02/1994
- Data as of
- 06/2021
- EIN
- 52-1857757
Organization Overview
Two River Theatre Company is located in Red Bank, NJ. The organization was established in 1994. 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 06/2021, Two River Theatre Company employed 196 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Two River Theatre Company 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 06/2021, Two River Theatre Company generated $4.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (32.9%) each year. All expenses for the organization totaled $5.9m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE GREAT AMERICAN THEATER BY DEVELOPING AND PRODUCING NEW WORKS AND WORLD MASTERPIECES. PLEASE SEE SCHEDULE O FOR CONTINUATION OF FULL MISSION STATEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE TEMPORARY SHUT-DOWN OF OUR THEATER FACILITY DUE TO THE PANDEMIC, THE 2020-2021 SEASON CONTINUED OUR COMMITMENT TO BRING EXTRAORDINARY ARTISTS AND PROGRAMS TO OUR AUDIENCES VIRTUALLY/DIGITALLY. THIS YEAR'S DIGITAL OFFERINGS INCLUDED #SCENEATTWORIVER, AN ONGOING SERIES TO STAY IN TOUCH WITH OUR AUDIENCES; TWO RIVER RISING, A 4 PLAY READING SERIES THAT LOOKED AT OUR HISTORY OF DIVERSE PROGRAMMING (AND ALSO SUPPORTED 5 SOCIAL JUSTICE ORGANIZATIONS); TWO RIVER PLAYERS, A SERIES COMPRISED OF STAFF AND GUEST ARTISTS READING CLASSIC PLAYS BY SHAKESPEARE, ANTON CHEKHOV AND MORE; AND NEWLY COMMISSIONED RADIO PLAYS, INCLUDING "THE MEMORY MOTEL" BY DAVID GREENSPAN.
OUR ARTS EDUCATION INITIATIVES ARE CENTRAL TO OUR COMMITMENT TO INTRODUCE YOUNG PEOPLE TO THE THEATER; CREATE OPPORTUNITIES FOR THEM TO ENGAGE WITH PROFESSIONAL THEATER ARTISTS; AND CULTIVATE A NEW GENERATION OF THEATERGOERS. FOR THE 20-21 SEASON MANY PROGRAMS PIVOTED ONLINE INCLUDING SUMMER AND WINTER THEATER CLASSES; METRO SCHOLARS, AN ANNUAL INTERNSHIP FOR HIGH SCHOOL JUNIORS; THE ART OF SOCIAL JUSTICE - A PROFESSIONAL DEVELOPMENT SERIES FOR TEACHERS; AUTISM ACCEPTANCE MONTH - A SERIES OF ONLINE PROGRAMMING TO ENGAGE PEOPLE ON THE SPECTRUM; AND A TINY SHAKESPEARE: "ROMEO & JULIET" PERFORMED BY HIGH SCHOOL STUDENTS USING SOCIAL MEDIA AND MORE.
TWO RIVER IS RECOGNIZED IN THE NATIONAL THEATER COMMUNITY FOR OUR NEW-PLAY COMMISSIONING PROGRAM, WHICH LAUNCHED IN 2010 AND HAS TO DATE OFFERED 18 COMMISSIONS TO GIFTED PLAYWRIGHTS, COMPOSERS, AND LYRICISTS. DURING THE SHUT-DOWN OF THE THEATER OUR NEW WORK DEVELOPMENT PROGRAM, AND SUPPORTING ARTISTS, WAS A MAJOR FOCUS OF THE SEASON AND ACTIVITIES CONTINUED ONLINE, INCLUDING THE 3RD YEAR OF THE EMERGING PLAYWRIGHTS GROUP PLAY-DEVELOPMENT PROGRAM; WORKSHOPS AND READINGS TO DEVELOP NEW WORKS WITH ARTISTS INCLUDING MADELEINE GEORGE, SARA HOLDREN, RINDE ECKERT, JESSICA HAGEDORN, MAY ADRALES AND MORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Dias Artistic Director | Officer | 40 | $263,222 |
Michael Hurst Managing Director | Officer | 40 | $222,756 |
Denyse Reed Director Of Development | 40 | $104,142 | |
Marilyn Broege Vice President | OfficerTrustee | 4 | $0 |
Edward Mc Kenna Jr President | OfficerTrustee | 4 | $0 |
Mary Jane Kroon Secretary | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hall Building Corp Contractor | 6/29/20 | $3,261,869 |
Cambridge Associates Financial Consultant | 6/29/20 | $225,000 |
Pillari Llc Contractor | 6/29/20 | $344,442 |
Idr Construction Llc Contractor | 6/29/20 | $165,862 |
Greyhawk North America Owners Rep | 6/29/20 | $139,985 |
Hall Building Corp Contractor | 6/29/20 | $3,261,869 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,538,552 |
| Investment income | $51,669 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $179,470 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $943,903 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,214,788 |
| 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. | $621,109 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,966,936 |
| Pension plan accruals and contributions | $82,471 |
| Other employee benefits | $136,602 |
| Payroll taxes | $193,998 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,427 |
| Fees for services: Accounting | $39,095 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $156,433 |
| Fees for services: Other | $179,728 |
| Advertising and promotion | $79,853 |
| Office expenses | $79,776 |
| Information technology | $72,680 |
| Royalties | $64,357 |
| Occupancy | $487,043 |
| Travel | $20,062 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,119,330 |
| Insurance | $139,406 |
| All other expenses | $0 |
| Total functional expenses | $5,898,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,778 |
| Savings and temporary cash investments | $7,720,023 |
| Pledges and grants receivable | $490,826 |
| Accounts receivable, net | $2,756 |
| 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 | $103,688 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $87,989,234 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $386,635 |
| Total assets | $129,619,755 |
| Accounts payable and accrued expenses | $154,635 |
| Grants payable | $0 |
| Deferred revenue | $261,419 |
| 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 | $682,512 |
| Other liabilities | $269,566 |
| Total liabilities | $1,368,132 |
| 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 | $128,251,623 |
Grants Awarded
Over the last fiscal year, Two River Theatre Company has awarded $111,540 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Brooklyn, NY PURPOSE: DIVERSE PROGRAMMING | $22,308 |
New York, NY PURPOSE: DIVERSE PROGRAMMING | $22,308 |
New York, NY PURPOSE: DIVERSE PROGRAMMING | $22,308 |
Buffalo, NY PURPOSE: DIVERSE PROGRAMMING | $22,308 |
New York, NY PURPOSE: DIVERSE PROGRAMMING | $22,308 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Two River Theatre Company has recieved totaling $26,500.
| Awarding Organization | Amount |
|---|---|
Stone Foundation Of New Jersey Leonardo, NJ PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
Manasquan Bank Charitable Foundation Inc Wall Township, NJ PURPOSE: AMERICAN THEATRE | $1,500 |
Endowment Analysis
| Beg. Balance | $62,503,995 |
| Ending Balance | $62,503,995 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vivian Beaumont Theater Inc New York, NY | $199,499,593 | $19,952,200 |
Signature Theatre Company New York, NY | $62,849,854 | $11,675,589 |
Playwrights Horizons Inc New York, NY | $27,151,743 | $13,749,281 |
Manhattan Theatre Club Inc New York, NY | $95,784,807 | $15,978,594 |
Stella Adler Studio Of Acting New York, NY | $5,616,573 | $9,953,377 |
Storyville Center For The Spoken Word Inc New York, NY | $12,362,100 | $12,256,751 |
Second Stage Theatre New York, NY | $62,708,833 | $8,654,071 |
Atlantic Theater Company New York, NY | $26,591,945 | $8,396,675 |
Geva Theatre Center Inc Rochester, NY | $17,333,733 | $8,117,861 |
George Street Playhouse Inc New Brunswick, NJ | $6,896,308 | $6,837,551 |
International Alliance Theatrical Stage Employees & Moving Picture New York, NY | $13,015,937 | $8,762,543 |
Paper Mill Playhouse Millburn, NJ | $20,009,816 | $8,770,993 |