Midland Community Theatre Inc
- Assets
- $6.9m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 29
- Location
- Midland, TX
- Founding
- 07/1947
- Data as of
- 12/2021
- EIN
- 75-6003774
Organization Overview
Midland Community Theatre Inc is located in Midland, TX. The organization was established in 1947. 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, Midland Community Theatre Inc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midland Community 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 12/2021, Midland Community Theatre Inc generated $4.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $2.0m during the year ending 12/2021. While expenses have increased by 0.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF MIDLAND COMMUNITY THEATRE IS TO BRING QUALITY THEATRE ARTS AND EDUCATIONAL OPPORTUNITIES TO MIDLAND AND THE PERMIAN BASIN FOR THE BENEFIT OF THE AUDIENCE AND VOLUNTEERS.
Describe the Organization's Program Activity:
THE THEATRE STAGES NINE MEMBERSHIP PRODUCTIONS A YEAR INCLUDING MUSICALS AND THREE PRODUCTIONS PERFORMED BY THE PICKWICK PLAYERS, THE THEATRE'S PERFORMING COMPANY AND SERVICE ORGANIZATION FOR YOUTH IN GRADES 7-12. EACH SHOW HAS A VARYING NUMBER OF PERFORMANCES AND ARE VERY WELL ATTENDED BY THE COMMUNITY. IN ADDITION TO THESE MEMBERSHIP PERFORMANCES, THE THEATRE USUALLY HAS A COUPLE OF SPECIAL PRODUCTIONS DURING THE YEAR.THE THEATRE ALSO PRODUCES SUMMER MUMMERS, WHICH IS A MELODRAMA PERFORMED EACH WEEKEND DURING THE SUMMER MONTHS AND HAS BEEN PERFORMED FOR 73 YEARS. IN RECENT YEARS, THIS PRODUCTION HAS GENERATED $600,000-$700,000 FOR THE THEATRE'S OPERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Jebsen Executive Dir. | Officer | 40 | $106,821 |
Dr Paul Mangum President Elect | OfficerTrustee | 1 | $0 |
Pete Schrenkel Treasurer | OfficerTrustee | 1 | $0 |
Leah Robertson President | OfficerTrustee | 1 | $0 |
R Shaun Rainey Secretary | OfficerTrustee | 1 | $0 |
Jessi Willmann Governor | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $57,950 |
| Fundraising events | $0 |
| Related organizations | $180,573 |
| Government grants | $110,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,401,346 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,749,869 |
| Total Program Service Revenue | $820,160 |
| Investment income | $7,797 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$12,840 |
| 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 | $4,564,986 |
| 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. | $110,000 |
| Compensation of current officers, directors, key employees. | $27,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $549,484 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $121,350 |
| Payroll taxes | $49,400 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,151 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,287 |
| Office expenses | $9,884 |
| Information technology | $15,984 |
| Royalties | $0 |
| Occupancy | $242,956 |
| Travel | $3,377 |
| 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 | $108,213 |
| Depreciation, depletion, and amortization | $267,081 |
| Insurance | $0 |
| All other expenses | $10,002 |
| Total functional expenses | $2,012,861 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,434,816 |
| Savings and temporary cash investments | $2,609,774 |
| Pledges and grants receivable | $142,056 |
| Accounts receivable, net | $8,722 |
| 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 | $197,070 |
| Net Land, buildings, and equipment | $2,189,490 |
| Investments—publicly traded securities | $366,442 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,948,370 |
| Accounts payable and accrued expenses | $156,557 |
| Grants payable | $0 |
| Deferred revenue | $463,795 |
| 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 | $620,352 |
| Net assets without donor restrictions | $3,576,188 |
| Net assets with donor restrictions | $2,751,830 |
| 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 | $6,948,370 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Midland Community Theatre Inc has recieved totaling $2,853,079.
| Awarding Organization | Amount |
|---|---|
Fmh Foundation Midland, TX PURPOSE: LOBBY RENOVATION AND EDUCATION EXPANSION | $2,510,000 |
Abell-Hanger Foundation Midland, TX PURPOSE: FOR THE LOBBY RENOVATION, EDUCATION EXPANSION, AND TECHNOLOGY UPGRADE | $250,000 |
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $24,257 |
Wayne And Jo Ann Moore Charitablefoundation Midland, TX PURPOSE: OPERATING EXPENSES | $15,000 |
The Sparks Foundation Inc Midland, TX PURPOSE: TO ASSIST AND SUPPORT THE SERVICES AND PROGRAMS OF THE FOUNDATION. | $15,000 |
Beal Foundation Midland, TX PURPOSE: OPERATING FUNDS | $15,000 |
Endowment Analysis
| Beg. Balance | $5,231,689 |
| Other Expense | $5,231,689 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alley Theatre Houston, TX | $99,755,068 | $20,544,932 |
Austin Theatre Alliance Austin, TX | $11,051,816 | $12,251,946 |
Theatre Squared Inc Fayetteville, AR | $37,817,681 | $7,945,309 |
Dallas Theater Center Dallas, TX | $4,686,048 | $4,047,540 |
Theatre Under The Stars Inc Houston, TX | $18,210,122 | $4,859,811 |
Zachary Scott Theater Center Austin, TX | $13,760,280 | $6,657,993 |
A D Players Houston, TX | $31,582,319 | $3,073,769 |
Creative Action Austin, TX | $3,479,965 | $2,986,946 |
Plano Childrens Theatre Plano, TX | $1,873,883 | $3,548,642 |
Main Street Theater Houston Houston, TX | $3,176,471 | $2,765,553 |
Lyric Theatre Of Oklahoma Inc Oklahoma City, OK | $13,499,880 | $4,030,124 |
International Alliance Theatrical Stage Employees & Moving Picture New Orleans, LA | $12,003,795 | $3,171,295 |