Lee Street Theatre
- Assets
- $1.3m
- Revenue
- $434.3k
- Investments
- $0.0
- Employees
- 5
- Location
- Salisbury, NC
- Founding
- 06/2009
- Data as of
- 07/2019
- EIN
- 80-0196717
Organization Overview
Lee Street Theatre is located in Salisbury, NC. The organization was established in 2009. 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 07/2019, Lee Street Theatre employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lee Street 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 07/2019, Lee Street Theatre generated $434.3k in total revenue. All expenses for the organization totaled $612.2k during the year ending 07/2019. While expenses have increased by 95.6% per year over the past 5 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE AN AVENUE FOR PRESENTATION OF PERFORMING ARTS IN THE LOCAL COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE AN AVENUE FOR THE PRESENTATION OF ALTERNATIVE PERFORMANCE ART IN OUR COMMUNITY, INCLUDING ALL FACETS OF VISUAL, AUDITORY AND TACTILE ART.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caroline Stephenson Secretary | OfficerTrustee | 2 | $0 |
Chris Blumenthal Treasurer | OfficerTrustee | 5 | $0 |
James Faust Ex-Officio | OfficerTrustee | 2 | $0 |
Lane Wallace Board Chair | OfficerTrustee | 5 | $0 |
John Sofley Board Member | Trustee | 2 | $0 |
Dylan Ellerbee Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $69,857 |
| Investment income | $30 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $410 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $28,901 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $434,340 |
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $109,607 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,257 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $5,715 |
| Occupancy | $36,205 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,683 |
| Interest | $21,504 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,629 |
| Insurance | $2,680 |
| All other expenses | $0 |
| Total functional expenses | $612,152 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,095 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,862 |
| 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 | $5,070 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,272,130 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $38,265 |
| 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 | $399,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,754 |
| Total liabilities | $441,019 |
| 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 | $831,111 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lee Street Theatre has recieved totaling $20,100.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $15,100 |
Margaret C Woodson Foundation Incorporated Charlotte, NC PURPOSE: LEE STREET SEASON 14 SUPPORT | $5,000 |
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 |