Riverside Theatre Inc
- Assets
- $44.5m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 171
- Location
- Vero Beach, FL
- Founding
- 08/1981
- Data as of
- 05/2022
- EIN
- 59-1764305
Organization Overview
Riverside Theatre Inc is located in Vero Beach, FL. The organization was established in 1981. 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 05/2022, Riverside Theatre Inc employed 171 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverside Theatre 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 05/2022, Riverside Theatre Inc generated $8.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $7.8m during the year ending 05/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY EXEMPT PURPOSE OF THE ORGANIZATION IS TO OPERATE A PROFESSIONAL THEATRE IN VERO BEACH, FLORIDA
Describe the Organization's Program Activity:
PRODUCTION OF PLAYS FOR THE GENERAL PUBLIC
SUMMER AND IN-SCHOOL WORKSHOPS FOR CHILDREN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allen Cornell Artistic Director/ceo | Officer | 40 | $261,463 |
Jonathan Moses Managing Director/coo | Officer | 40 | $194,189 |
Patti Rooney CFO | Officer | 40 | $138,825 |
Heidi Waxlax President | OfficerTrustee | 4 | $0 |
Thomas Tierney Secretary | OfficerTrustee | 4 | $0 |
William Scully Vice President | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,098,449 |
| Fundraising events | $539,824 |
| Related organizations | $0 |
| Government grants | $4,195,270 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,382,359 |
| Noncash contributions included in lines 1a–1f | $125,878 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,215,902 |
| Total Program Service Revenue | $1,104,790 |
| Investment income | $259,403 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,710 |
| Net Gain/Loss on Asset Sales | $194,427 |
| Net Income from Fundraising Events | $54,590 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,851,736 |
| 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. | $631,467 |
| Compensation of current officers, directors, key employees. | $631,467 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,528,097 |
| Pension plan accruals and contributions | $160,856 |
| Other employee benefits | $241,476 |
| Payroll taxes | $225,850 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,247 |
| Fees for services: Accounting | $53,136 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $60,334 |
| Fees for services: Other | $597,315 |
| Advertising and promotion | $171,662 |
| Office expenses | $669,279 |
| Information technology | $108,696 |
| Royalties | $115,907 |
| Occupancy | $855,973 |
| Travel | $133,839 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,831 |
| Interest | $56 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $869,103 |
| Insurance | $46,603 |
| All other expenses | $0 |
| Total functional expenses | $7,766,435 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $625,537 |
| Savings and temporary cash investments | $5,279,955 |
| Pledges and grants receivable | $251,012 |
| Accounts receivable, net | $253,111 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $26,207 |
| Prepaid expenses and deferred charges | $1,677,675 |
| Net Land, buildings, and equipment | $22,007,903 |
| Investments—publicly traded securities | $13,640,114 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $744,684 |
| Total assets | $44,506,198 |
| Accounts payable and accrued expenses | $1,112,538 |
| Grants payable | $0 |
| Deferred revenue | $1,705,813 |
| 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 | $2,818,351 |
| Net assets without donor restrictions | $29,061,084 |
| Net assets with donor restrictions | $12,626,763 |
| 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 | $44,506,198 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Riverside Theatre Inc has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
Welsh Family Foundation Inc Vero Beach, FL PURPOSE: UNRESTRICTED | $70,000 |
Warwick Foundation Northfield, IL PURPOSE: GENERAL FUNDS | $25,000 |
Scrivan Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $1,500 |
W James And Jane K Truettner Foundation Crested Butte, CO PURPOSE: GENERAL SUPPORT | $1,500 |
Rogers Wilbur Foundation Inc Crownsville, MD PURPOSE: UNRESTRICTED | $1,000 |
Kahle Foundation Inc Vero Beach, FL PURPOSE: FURTHERANCE OF CHARITABLE ACTIVITY | $1,000 |
Endowment Analysis
| Beg. Balance | $15,224,537 |
| Earnings | -$862,832 |
| Admin Expense | $60,334 |
| Other Expense | $661,257 |
| Ending Balance | $13,640,114 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Asolo Theater Inc Sarasota, FL | $39,065,744 | $11,173,577 |
Riverside Theatre Inc Vero Beach, FL | $44,506,198 | $8,851,736 |
Florida Studio Theatre Inc Sarasota, FL | $37,267,894 | $9,853,127 |
Venice Theatre Inc Venice, FL | $7,118,612 | $5,710,001 |
The Naples Players Inc Naples, FL | $22,577,856 | $12,453,721 |
Aurora Theatre Inc Lawrenceville, GA | $10,092,561 | $4,172,461 |
Actors Playhouse Productions Inc Coral Gables, FL | $3,896,011 | $4,416,783 |
Orlando Shakespeare Theater Inc Orlando, FL | $6,529,809 | $4,359,887 |
Tampa Theatre Inc Tampa, FL | $11,330,345 | $3,845,345 |
Alabama Shakespeare Festival Inc Montgomery, AL | $8,144,651 | $3,904,984 |
Orlando Repertory Theatre Inc Orlando, FL | $2,714,960 | $3,553,699 |
Gulfshore Playhouse Inc Naples, FL | $41,093,370 | $22,898,859 |