Teatro Nuovo Inc
- Assets
- $65.8k
- Revenue
- $481.7k
- Investments
- $0.0
- Employees
- 5
- Location
- New York, NY
- Founding
- 06/2017
- Data as of
- 10/2020
- EIN
- 82-1281535
Organization Overview
Teatro Nuovo Inc is located in New York, NY. The organization was established in 2017. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 10/2020, Teatro Nuovo Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teatro Nuovo 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 10/2020, Teatro Nuovo Inc generated $481.7k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 37.1% each year . All expenses for the organization totaled $338.8k during the year ending 10/2020. While expenses have increased by 28.9% per year over the past 4 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TEATRO NUOVO IS A NEW ORGANIZATION FORMED TO BRING CUTTING EDGE INTERPRETATIONS OF CLASSIC ITALIAN OPERAS. THE INTENT IS TO OFFER EXCITING REVIVALS, TO OFFER VIRTUSO SIGNING AND TO TRAIN YOUNG MUSICIANS IN THIS ART FORM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSE RELATED TO ORGANIZING THE ENTITY TO FULFILL THE MISSION STATEMENT OF CREATING AN ART FORM THAT HAS A BROADER APPEAL BUT REMAINS TRUE TO THE ORIGINAL VISION OF THE ART FORM THAT CREATED THESE OPERAS
EXPENSE RELATED TO ORGANIZING THE ENTITY TO FULFILL THE MISSION STATEMENT OF CREATING AN ART FORM THAT HAS A BROADER APPEAL BUT REMAINS TRUE TO THE ORIGINAL VISION OF THE ART FORM THAT CREATED THESE OPERAS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Crutchfield Director | OfficerTrustee | 20 | $0 |
Seth Davis President Of The Bd | OfficerTrustee | 3 | $0 |
Paul Pierce Exec Director | OfficerTrustee | 40 | $0 |
Patricia Falkeberg Board Member | Officer | 1 | $0 |
Carol Gold Board Member | Officer | 1 | $0 |
Ravi Rajan Secty Of The Bd | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $481,660 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $481,660 |
| 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. | $130,251 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $135,009 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,989 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,785 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,500 |
| Office expenses | $0 |
| Information technology | $5,073 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $580 |
| 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 | $0 |
| Insurance | $18,254 |
| All other expenses | $0 |
| Total functional expenses | $338,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,185 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,637 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $65,822 |
| Accounts payable and accrued expenses | $30,209 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $37,500 |
| Total liabilities | $67,709 |
| 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 | -$1,887 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Teatro Nuovo Inc has recieved totaling $70,064.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $50,000 |
Nancy S Offit Foundation Inc Greenwich, CT PURPOSE: GENERAL SUPPORT | $10,000 |
The Ae Family Foundation Greenwich, CT PURPOSE: UNRESTRICTED | $2,500 |
Janet Yaseen Foundation Inc New York, NY PURPOSE: GENERAL PURPOSE | $2,000 |
The Pierre And Tana Matisse Foundation New York, NY PURPOSE: GENERAL SUPPORT | $2,000 |
Joan And Alan Ades-Taub Family Foundation Inc New York, NY PURPOSE: TO FURTHER CHARITABLE & CULTURAL ACTIVITIES | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kimmel Center Inc Philadelphia, PA | $245,953,445 | $41,081,924 |
Brooklyn Academy Of Music Inc Brooklyn, NY | $168,013,887 | $29,572,079 |
South Street Theater Co Inc Morristown, NJ | $25,009,095 | $16,372,684 |
Bric Arts Media Bklyn Inc Brooklyn, NY | $22,086,824 | $12,315,164 |
The Apollo Theater Foundation Inc New York, NY | $69,978,827 | $33,324,849 |
New Haven Center For Performing Arts Inc Waterbury, CT | $12,801,705 | $9,109,828 |
Performing Arts Consultants Inc Brick, NJ | $2,328,922 | $7,486,685 |
Shen Yun Performing Arts Inc Cuddebackville, NY | $196,627,077 | $30,836,971 |
Foundation For Contemporary Arts Inc New York, NY | $44,020,214 | $7,582,108 |
National Comedy Center Operator Inc Jamestown, NY | $24,581,570 | $2,926,105 |
World Trade Center Performing Arts Center Inc New York, NY | $505,865,812 | $148,493,145 |
Associated Production Services Inc Trevose, PA | $3,216,743 | $4,781,597 |