Theatre Three Incorporated
- Assets
- $3.7m
- Revenue
- $764.1k
- Investments
- $0.0
- Employees
- 40
- Location
- Dallas, TX
- Founding
- 07/1965
- Data as of
- 07/2023
- EIN
- 75-6042183
Organization Overview
Theatre Three Incorporated is located in Dallas, TX. The organization was established in 1965. 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 07/2023, Theatre Three Incorporated employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Theatre Three Incorporated 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 07/2023, Theatre Three Incorporated generated $764.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $1.2m during the year ending 07/2023. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THEATRE THREE ILLUMINATES THE HUMAN EXPERIENCE WITH EXEMPLARY, INTIMATE THEATRE BY NURTURING AUTHORS, REGIONAL ARTISTS, AND AUDIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTION AND PERFORMANCE OF THEATRICAL PLAYS REACHED AN AUDIENCE OF APPROXIMATELY 35,000 PEOPLE. THEATRE THREE IS ALSO DEVOTED TO PROMOTING THE TEACHING AND STUDY OF THEATRE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Schmidt Artistic Dir. | Officer | 40 | $65,000 |
Katherine Edwards-From 112022 Managing Dir. | Officer | 40 | $50,000 |
Charlie Beavers-Thru 112022 Executive Dir. | Officer | 40 | $46,750 |
Michael Cluff-Thru 22023 Member | Trustee | 10 | $0 |
Rachmad Tjachyadi-Thru 42023 Chairman | OfficerTrustee | 10 | $0 |
David Luther Secretary | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $175,396 |
| All other contributions, gifts, grants, and similar amounts not included above | $237,114 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $412,510 |
| Total Program Service Revenue | $285,822 |
| Investment income | $2,518 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $56,387 |
| 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 | $764,094 |
| 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. | $161,750 |
| Compensation of current officers, directors, key employees. | $15,175 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $304,477 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $46,427 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,506 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $32,580 |
| Office expenses | $17,989 |
| Information technology | $23,687 |
| Royalties | $0 |
| Occupancy | $236,131 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,423 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,771 |
| Insurance | $48,169 |
| All other expenses | $1,574 |
| Total functional expenses | $1,193,623 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,906 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,640 |
| 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 | $21,239 |
| Net Land, buildings, and equipment | $92,340 |
| Investments—publicly traded securities | $33,541 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,557,374 |
| Total assets | $3,708,040 |
| Accounts payable and accrued expenses | $104,361 |
| Grants payable | $0 |
| Deferred revenue | $58,945 |
| 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 | $181,986 |
| Other liabilities | $3,630,122 |
| Total liabilities | $3,975,414 |
| Net assets without donor restrictions | -$1,067,025 |
| Net assets with donor restrictions | $799,651 |
| 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 | $3,708,040 |