Little Theatre Of Winston-Salem Inc
- Assets
- $976.2k
- Revenue
- $410.8k
- Investments
- $794.4k
- Employees
- 11
- Location
- Winstonsalem, NC
- Founding
- 08/1951
- Data as of
- 06/2021
- EIN
- 56-0526835
Organization Overview
Little Theatre Of Winston-Salem Inc is located in Winstonsalem, NC. The organization was established in 1951. 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, Little Theatre Of Winston-Salem Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Little Theatre Of Winston-Salem Inc 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, Little Theatre Of Winston-Salem Inc generated $410.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $159.1k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (30.4%) per year over the past 3 years. 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 PROVIDE COMMUNITY THEATRE PRODUCTIONS AND ACCESSIBLE EDUCATIONAL OPPORTUNITIES IN THEATRE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THEATRE PRODUCTION: PRODUCED AND PERFORMED 6 DIFFERENT THEATRE PRODUCTIONS AND PRESENTED A VARIETY OF NON-MAINSTAGE OFFERINGS WHICH INCLUDES 3 YOUTH PRODUCTIONS AND EDUCATIONAL CLASSES.
EDUCATION: HELD CLASSES THROUGHOUT THE YEAR FOR BOTH CHILDREN AND ADULTS AND CREATED THEATRE PRODUCTIONS BY CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Powell End 123122 Executive Di | Officer | 40 | $15,200 |
Joelle Irons Beg1123 Executive Di | Officer | 40 | $0 |
Andrea Anderson Director | Trustee | 1 | $0 |
Chad Edwards Director | Trustee | 1 | $0 |
Michaela Greene Director | Trustee | 1 | $0 |
David Swift Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $369,061 |
| Investment income | $1,702 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $410,803 |
| 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. | $18,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,996 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,740 |
| Payroll taxes | $2,998 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,557 |
| Office expenses | $5,233 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,576 |
| Travel | $0 |
| 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 | $1,534 |
| Insurance | $1,035 |
| All other expenses | $0 |
| Total functional expenses | $159,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,064 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $486 |
| 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 | $32,701 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $794,392 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $976,219 |
| Accounts payable and accrued expenses | $65,694 |
| Grants payable | $0 |
| Deferred revenue | $47,556 |
| 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 | $40,000 |
| Unsecured mortgages and notes payable | $154,122 |
| Other liabilities | $0 |
| Total liabilities | $307,372 |
| 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 | $668,847 |