Asolo Theater Inc
- Assets
- $48.8m
- Revenue
- $12.9m
- Investments
- $0.0
- Employees
- 289
- Location
- Sarasota, FL
- Founding
- 09/1987
- Data as of
- 06/2021
- EIN
- 59-2717909
Organization Overview
Asolo Theater Inc is located in Sarasota, FL. The organization was established in 1987. 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, Asolo Theater Inc employed 289 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asolo Theater 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, Asolo Theater Inc generated $12.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $6.5m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.9%) 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
ENTERTAIN, ENGAGE AND INSPIRE THROUGH THE HIGHEST QUALITY PROFESSIONAL REPERTORY THEATRE AND SUPERIOR EDUCATIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASOLO REPERTORY'S RESIDENT SEASON CREATES A CENTER FOR THEATRICAL EXCELLENCE FOR A LOCAL, REGIONAL AND NATIONAL COMMUNITY. FROM CLASSICS TO CONTEMPORARY DRAMAS TO BROADWAY-BOUND MUSICALS AND NEWLY COMMISSIONED WORK, ALL PERFORMED IN THE RAREST FORM OF ROTATING REPERTORY. ASOLO REP IS A THEATRE DISTRICT IN ITSELF. EACH SEASON, ASOLO REP MOUNTS UP TO TEN PRODUCTIONS AND TWO HUNDRED FIFTY PERFORMANCES ON TWO STAGES, FOR MORE THAN EIGHTY THOUSAND PEOPLE ANNUALLY.
THE FSU/ASOLO CONSERVATORY FOR ACTOR TRAINING IS A RIGOROUS THREE-YEAR M.F.A GRADUATE PROGRAM CONNECTED TO ASOLO REPERTORY. IT IS RANKED IN THE TOP TEN ACTOR TRAINING PROGRAMS BY THE NEW YORK TIMES. MORE THAN TWO THOUSAND AUDITION ANNUALLY FOR A MERE TWELVE SLOTS.
THE SCENE AND COSTUME SHOPS CREATE PHYSICAL ELEMENTS FOR THE PRODUCTIONS AND CONTRIBUTE TO THE QUALITY PROFESSIONAL THEATRICAL EXPERIENCE FOR ASOLO REPERTORY, THE FSU/ASOLO CONSERVATORY FOR ACTOR TRAINING AND OTHERS, SUCH AS THE TAMPA BAY PERFORMING ARTS CENTER AND THE SARASOTA OPERA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pat Anderson Director | Trustee | 1 | $0 |
Robert Baer Director | Trustee | 1 | $0 |
Beverly Bartner Director | Trustee | 1 | $0 |
Bob Bartner Director | Trustee | 1 | $0 |
David Bavar Director | Trustee | 1 | $0 |
Nancy Boxill-Thompson Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pj Hayes Inc Dba Tandem Constructi Expansion Construction | 6/29/22 | $3,372,279 |
Lab Stat Llc Covid Testing | 6/29/22 | $267,920 |
Home 2 Suites By Hilton Guest Talent Housing | 6/29/22 | $253,685 |
Fsu International Programs Fsu Student Stipends | 6/29/22 | $223,077 |
Fsu Research Foundation Fsu Student Stipends | 6/29/22 | $200,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,295,413 |
| Investment income | $610,354 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,603,805 |
| Net Income from Fundraising Events | $81,342 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $55 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,923,567 |
| 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. | $536,067 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,822,029 |
| Pension plan accruals and contributions | $57,267 |
| Other employee benefits | $382,655 |
| Payroll taxes | $194,139 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,444 |
| Fees for services: Accounting | $32,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $84,914 |
| Fees for services: Other | $47,738 |
| Advertising and promotion | $192,267 |
| Office expenses | $130,665 |
| Information technology | $99,689 |
| Royalties | $25,007 |
| Occupancy | $114,194 |
| Travel | $22,084 |
| 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 | $588,120 |
| Insurance | $120,397 |
| All other expenses | $0 |
| Total functional expenses | $6,510,714 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,732 |
| Savings and temporary cash investments | $10,300,102 |
| Pledges and grants receivable | $750,822 |
| Accounts receivable, net | $643,025 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,882 |
| Prepaid expenses and deferred charges | $822,258 |
| Investments—publicly traded securities | $26,034,420 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,744,929 |
| Total assets | $48,815,374 |
| Accounts payable and accrued expenses | $730,680 |
| Grants payable | $0 |
| Deferred revenue | $3,430,687 |
| 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 | $1,219,145 |
| Other liabilities | $0 |
| Total liabilities | $5,380,512 |
| 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 | $43,434,862 |