Virginia Stage Company
- Assets
- $7.8m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 181
- Location
- Norfolk, VA
- Founding
- 07/1968
- Data as of
- 06/2022
- EIN
- 54-0839234
Organization Overview
Virginia Stage Company is located in Norfolk, VA. The organization was established in 1968. 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 06/2022, Virginia Stage Company employed 181 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Stage 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, Virginia Stage Company generated $3.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $3.7m 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
THE PRODUCTION OF THEATRICAL ARTS FOR ALL ASPECTS OF THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
VIRGINIA STAGE COMPANY ("VSC") IS SOUTHEASTERN VIRGINIA'S LEADING REGIONAL NON-PROFIT THEATRE, SERVING AN AUDIENCE OF OVER 58,000+ ANNUALLY IN NON-PANDEMIC TIMES, BOTH AT THE WELLS THEATRE AND THROUGHOUT THE COMMUNITY. VSC'S MISSION IS TO ENRICH, EDUCATE, AND ENTERTAIN THE REGION BY CREATING AND PRODUCING THEATRICAL ART OF THE HIGHEST QUALITY. VSC CONNECTS THE HAMPTON ROADS COMMUNITY THROUGH INITIATIVES THAT ENRICH LIVES AND ESTABLISH RELATIONSHIPS WITH ARTISTS AND AUDIENCES FOR THE FUTURE. VSC HAS HELPED LEAD THE CHARGE IN PRODUCING THE HIGHEST QUALITY PRODUCTIONS IN OUR REGION. OVER THE COURSE OF OUR 44-YEAR HISTORY, VSC HAS PRODUCED OVER 4,700 PERFORMANCES OF CLOSE TO 240 PLAYS, INCLUDING 28 WORLD PREMIERES AND 15 PULITZER PRIZE-WINNING PLAYS. IN FULFILLMENT OF VSC'S MISSIONS, PLAYS ARE SELECTED TO APPEAL TO ALL AGES, ETHNICITIES, AND RELIGIOUS BACKGROUNDS TO EXPAND VSC'S DIVERSE AUDIENCE
OUR EDUCATION AND COMMUNITY ENGAGEMENT PROGRAMMING STRIVES TO REFLECT THE NEEDS OF THE COMMUNITIES WE SERVCE AND ADVOCATE FOR ARTS INTEGRATION AND EXPERIENCES THAT PROMOTE LITERACY, CHARACTER DEVELOPMENT, AND CRITICAL THINKING IN THE NEXT GENERATION. FOR OVER 23 YEARS, VIRGINIA STAGE COMPANY'S ("VSC") EDUCATION AND COMMUNITY ENGAGEMENT PROGRAMS HAVE BEEN COMMITTED TO FOSTERING A LOVE OF GREAT LITERATURE AND THE PERFORMING ARTS IN CHILDREN AND ADULTS ALIKE. VSC STRIVES TO DEEPEN THE COMMUNITY'S EXPOSURE TO TEACHING ARTISTS, PLAYWRIGHTS, DESIGNERS, AND PERFORMERS. SINCE ITS INCEPTION, VSC HAS IMPACTED OVER ONE MILLION STUDENTS AND TEACHERS IN THE GREATER HAMPTON ROADS COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Stokes Treasurer | OfficerTrustee | 0.75 | $0 |
Jackie King Director | Trustee | 0.75 | $0 |
Verne't Hatcher Director | Trustee | 0.75 | $0 |
Richard A Boykin PHD Secretary | OfficerTrustee | 0.75 | $0 |
Ann Brogan President | Trustee | 0.5 | $0 |
Donna Bausch Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $103,000 |
| Related organizations | $0 |
| Government grants | $1,726,913 |
| All other contributions, gifts, grants, and similar amounts not included above | $796,065 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,625,978 |
| Total Program Service Revenue | $372,448 |
| Investment income | $1,179 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$24,410 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $35,893 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,015,223 |
| 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. | $176,864 |
| Compensation of current officers, directors, key employees. | $22,825 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,755,623 |
| Pension plan accruals and contributions | $43,928 |
| Other employee benefits | $82,564 |
| Payroll taxes | $192,634 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $500 |
| Fees for services: Accounting | $25,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,580 |
| Advertising and promotion | $226,684 |
| Office expenses | $21,662 |
| Information technology | $14,630 |
| Royalties | $0 |
| Occupancy | $209,550 |
| Travel | $72,382 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $51,274 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $390,088 |
| Insurance | $30,797 |
| All other expenses | $51,810 |
| Total functional expenses | $3,675,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $745,675 |
| Savings and temporary cash investments | $511,922 |
| Pledges and grants receivable | $2,138,464 |
| Accounts receivable, net | $33,776 |
| 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 | $14,707 |
| Net Land, buildings, and equipment | $4,311,818 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,406 |
| Total assets | $7,785,768 |
| Accounts payable and accrued expenses | $112,971 |
| Grants payable | $0 |
| Deferred revenue | $427,313 |
| 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 | $311,232 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,340 |
| Total liabilities | $861,856 |
| Net assets without donor restrictions | $4,328,375 |
| Net assets with donor restrictions | $2,595,537 |
| 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 | $7,785,768 |