Two River Theatre Company
- Assets
- $118.4m
- Revenue
- $8.7m
- Investments
- $77.7m
- Employees
- 257
- Location
- Red Bank, NJ
- Founding
- 02/1994
- Data as of
- 06/2022
- 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 06/2023, Two River Theatre Company employed 257 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 06/2022, Two River Theatre Company generated $8.7m 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 (25.6%) each year. All expenses for the organization totaled $7.7m during the year ending 06/2022. 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
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
THE 2022/23 WAS A MILESTONE YEAR FOR THE ORGANIZATION, AS WE PRODUCED OUR FIRST FULL, IN-PERSON SEASON AFTER THE PANDEMIC. WE HIGHLIGHTED DIVERSE AND DYNAMIC STORIES SUCH AS "WINE IN THE WILDERNESS" BY ALICE CHILDRESS, THE WORLD PREMIERE OF "LIVING AND BREATHING" BY MANDO ALVARADO, A MODERN ADAPTATION OF "ROMEO & JULIET" BY HANSOL JUNG IN PARTNERSHIP WITH THE NATIONAL ASIAN AMERICAN THEATRE COMPANY AND "TWO SISTERS AND A PIANO" BY PULITZER PRIZE-WINNER NILO CRUZ. WE ALSO PRODUCED A RADIO PLAY BY NILO CRUZ TITLED "KISSES THROUGH THE GLASS."
TWO RIVER'S ARTS EDUCATION INITIATIVES INTRODUCE PEOPLE OF ALL AGES TO THEATER AND CULTIVATE A NEW GENERATION OF THEATERGOERS. PROGRAMS INCLUDE: A LITTLE SHAKES: AN ABRIDGED SHAKESPEARE PLAY, PERFORMED BY HIGH SCHOOLERS; METRO SCHOLARS: A YEAR-LONG LEARNING PROGRAM FOR HIGH SCHOOLERS; A MULTI-WEEK CAMP WHERE STUDENTS CREATE A PERFORMANCE IN ONE WEEK; STUDENT MATINEES & HAVE A SEAT: FREE TICKETS AND TRANSPORT TO A SHOW; THE ART OF SOCIAL JUSTICE: FREE WORKSHOPS THAT SUPPORT CONVERSATIONS ABOUT RACE THROUGH ART AND; EMERGING PROFESSIONALS: A WORKFORCE DEVELOPMENT PROGRAM FOR EARLY CAREER THEATER PROFESSIONALS. THIS YEAR'S LITTLE SHAKES SHOW WAS "ROMEO & JULIET."
TWO RIVER IS RECOGNIZED IN THE NATIONAL THEATER COMMUNITY FOR OUR NEW-PLAY COMMISSIONING PROGRAM, WHICH LAUNCHED IN 2010 AND HAS TO DATE OFFERED 21 COMMISSIONS TO GIFTED PLAYWRIGHTS, COMPOSERS, AND LYRICISTS. CURRENT COMMISSIONED ARTISTS INCLUDE MATT BARBOT, RINDE ECKERT, JESSICA HAGEDORN, LISA KRON, BEN STEINFELD, NGOZI ANYANWU, ELIANA PIPES, JACLYN BACKHAUS, JAMES IJAMES, AND THE TEAMS OF JOE ICONIS/JOE TRACZ AND DANIEL MAT/MARSHALL PAILET.CURRENT PLAY DEVELOPMENT PROGRAMS INCLUDE READINGS, WORKSHOPS, AND ARTIST RETREATS THROUGHOUT THE YEAR, AND CROSSING BORDERS (CRUZANDO FRONTERAS), A WEEKEND FESTIVAL OF NEW PLAYS BY LATINE WRITERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Hurst Managing Director, Thru 12/22 | Officer | 40 | $243,635 |
John Dias Artistic Director, Thru 6/22 | Officer | 40 | $223,062 |
Ann D Bagchi Board Member | Trustee | 2 | $0 |
Michael Bland Board Member | Trustee | 2 | $0 |
Marilyn Broege Vice President | OfficerTrustee | 4 | $0 |
Amanda Butterbaugh Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hall Building Corp Contractor | 6/29/20 | $3,261,869 |
Pillari Llc Contractor | 6/29/20 | $344,442 |
Cambridge Associates Financial Consultant | 6/29/20 | $225,000 |
Greyhawk North America Owners Rep | 6/29/20 | $139,985 |
Idr Construction Llc Contractor | 6/29/20 | $165,862 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $270,643 |
| Related organizations | $0 |
| Government grants | $2,001,561 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,332,111 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,604,315 |
| Total Program Service Revenue | $534,875 |
| Investment income | $53,515 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $8,352 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,517,029 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,730,887 |
| 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. | $676,747 |
| Compensation of current officers, directors, key employees. | $174,813 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,534,510 |
| Pension plan accruals and contributions | $112,981 |
| Other employee benefits | $187,428 |
| Payroll taxes | $275,859 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $43,657 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $154,024 |
| Fees for services: Other | $617,967 |
| Advertising and promotion | $165,058 |
| Office expenses | $104,938 |
| Information technology | $81,698 |
| Royalties | $62,379 |
| Occupancy | $719,198 |
| Travel | $58,786 |
| 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 | $1,167,964 |
| Insurance | $108,971 |
| All other expenses | $11,862 |
| Total functional expenses | $7,670,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,778 |
| Savings and temporary cash investments | $7,618,411 |
| Pledges and grants receivable | $367,805 |
| Accounts receivable, net | $511,587 |
| 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 | $76,558 |
| Net Land, buildings, and equipment | $31,960,302 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $77,727,024 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $127,002 |
| Total assets | $118,390,467 |
| Accounts payable and accrued expenses | $287,219 |
| Grants payable | $0 |
| Deferred revenue | $278,865 |
| 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 | $0 |
| Total liabilities | $566,084 |
| Net assets without donor restrictions | $35,484,515 |
| Net assets with donor restrictions | $82,339,868 |
| 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 | $118,390,467 |
Grants Awarded
Over the last fiscal year, Two River Theatre Company has awarded $111,540 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
THE AUDRE LORDE PROJECT INC PURPOSE: DIVERSE PROGRAMMING | $22,308 |
GLOBAL CONCEPTS CHARTER SCHOOL PURPOSE: DIVERSE PROGRAMMING | $22,308 |
NEO PHILANTHROPY PURPOSE: DIVERSE PROGRAMMING | $22,308 |
THE ACTORS' FUND PURPOSE: DIVERSE PROGRAMMING | $22,308 |
PRO RADS INC PURPOSE: DIVERSE PROGRAMMING | $22,308 |