North Carolina Theatre
- Assets
- $3.2m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 64
- Location
- Raleigh, NC
- Founding
- 05/1974
- Data as of
- 12/2021
- EIN
- 56-1072874
Organization Overview
North Carolina Theatre is located in Raleigh, NC. The organization was established in 1974. 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 12/2021, North Carolina Theatre employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Theatre 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 12/2021, North Carolina Theatre generated $3.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $3.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 7 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 PRODUCE PROFESSIONAL THEATRE PRODUCTIONS AND OPERATE A YOUTH TRAINING PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NCT CONSERVATORY INCLUDES YEAR-ROUND PRODUCTIONS OF PROFESSIONAL THEATRE PROGRAMMING SUCH AS MUSICALS AND PLAYS
TO PRODUCE PROFESSIONAL THEATRE PRODUCTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Doran President & CEO | Officer | 40 | $104,530 |
Don Stroud Past Chair | OfficerTrustee | 0.5 | $0 |
Debbie Hammersla Chair | OfficerTrustee | 0.5 | $0 |
Carla Fredrick Chair Education | OfficerTrustee | 0.5 | $0 |
Merritt Atkins Chair Development | OfficerTrustee | 0.5 | $0 |
Anna Churchill Vice Chair Board And Chair Governance | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,626,626 |
| All other contributions, gifts, grants, and similar amounts not included above | $895,830 |
| Noncash contributions included in lines 1a–1f | $86,710 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,522,456 |
| Total Program Service Revenue | $867,087 |
| Investment income | $75,513 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $78,423 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,580,122 |
| 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. | $125,247 |
| Compensation of current officers, directors, key employees. | $19,304 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,166,094 |
| Pension plan accruals and contributions | $10,734 |
| Other employee benefits | $114,569 |
| Payroll taxes | $82,959 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $44,836 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,625 |
| Fees for services: Other | $294,512 |
| Advertising and promotion | $173,624 |
| Office expenses | $13,398 |
| Information technology | $0 |
| Royalties | $86,442 |
| Occupancy | $183,012 |
| Travel | $73,367 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $33,936 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,412 |
| Insurance | $18,115 |
| All other expenses | $136,391 |
| Total functional expenses | $2,994,738 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $932,281 |
| Savings and temporary cash investments | $1,169 |
| Pledges and grants receivable | $580,681 |
| Accounts receivable, net | $58,852 |
| 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 | $126,993 |
| Net Land, buildings, and equipment | $31,515 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,442,761 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,174,252 |
| Accounts payable and accrued expenses | $375,079 |
| Grants payable | $0 |
| Deferred revenue | $1,854,192 |
| 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 | $647,939 |
| Unsecured mortgages and notes payable | $149,900 |
| Other liabilities | $0 |
| Total liabilities | $3,027,110 |
| Net assets without donor restrictions | $28,290 |
| Net assets with donor restrictions | $118,852 |
| 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 | $3,174,252 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that North Carolina Theatre has recieved totaling $39,171.
| Awarding Organization | Amount |
|---|---|
Fenwick Foundation Pennington, NJ PURPOSE: UNRESTRICTED GENERAL | $15,000 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $12,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,823 |
Baird Foundation Inc Milwaukee, WI PURPOSE: ETHNIC AND RELIGIOUS | $3,325 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $1,500 |
Coughlin Charitable Foundation Raleigh, NC PURPOSE: DONATION TO NORTH CAROLINA THEATRE | $1,500 |
Endowment Analysis
| Beg. Balance | $56,009 |
| Earnings | $5,312 |
| Admin Expense | $371 |
| Other Expense | $22,464 |
| Ending Balance | $38,486 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Signature Theatre Inc Arlington, VA | $13,654,259 | $8,861,886 |
Aurora Theatre Inc Lawrenceville, GA | $10,092,561 | $4,172,461 |
Barter Foundation Incorporated State Theatre Of Virginia Abingdon, VA | $10,953,876 | $6,208,012 |
American Shakespeare Center Staunton, VA | $2,626,073 | $2,087,317 |
Childrens Theatre Of Charlotte Inc Charlotte, NC | $26,819,373 | $2,866,228 |
North Carolina Theatre Raleigh, NC | $3,174,252 | $3,580,122 |
Roanoke Island Historical Association Inc Manteo, NC | $10,126,995 | $2,839,927 |
Carolina Theatre Of Durham Inc Durham, NC | $4,096,389 | $4,794,341 |
Nashville Repertory Theatre Inc Nashville, TN | $1,810,998 | $3,171,319 |
Triad Stage Inc Greensboro, NC | $3,172,585 | $1,782,621 |
Circuit Playhouse Inc Memphis, TN | $16,830,150 | $2,686,872 |
Cumberland County Playhouse Inc Crossville, TN | $3,086,163 | $3,321,582 |