Liberty Restoration Inc
- Assets
- $5.5m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 14
- Location
- Astoria, OR
- Founding
- 08/1998
- Data as of
- 06/2022
- EIN
- 87-0452722
Organization Overview
Liberty Restoration Inc is located in Astoria, OR. The organization was established in 1998. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Liberty Restoration Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liberty Restoration 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 06/2022, Liberty Restoration Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 26.6% each year . All expenses for the organization totaled $1.2m during the year ending 06/2022. While expenses have increased by 27.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS RESTORING AND MAINTAINING A HISTORIC THEATRE... (CONTINUED ON SCHEDULE O) ...WHICH PROVIDES A FORUM FOR PERFORMING ARTISTS AND COMMUNITY EVENTS. THE ORGANIZATION ALSO FOSTERS PERFORMING ART EDUCATION AND DEVELOPMENT. TEMPORARY PANDEMIC MISSION: THE LIBERTY THEATRE IS A CATALYST FOR THE PERFORMING ARTS ON THE NORTH OREGON COAST. ITS COLLABORATION WITH ARTISTS, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS FOSTERS HEALTHIER, STRONGER AND MORE VIBRANT COMMUNITIES. (ADOPTED APRIL 2020)
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY GATHERING SPACE OFFERING A VARIETY OF PERFORMING ARTS EXPERIENCES. 17,000 ATTENDEES YEARLY. DUE TO COVID-19 THE THEATRE WAS CLOSED TO PUBLIC EVENTS AS OF MARCH 13, 2020, RESULTING IN A SHORTFALL FROM LOST MARKETING, RETURNED TICKET FEES, REDUCED AUDIENCES, AND PERFORMANCE DEPOSITS. THEATRE DID NOT FULLY REOPEN UNTIL OCTOBER, 2021. AUDIENCES WERE SLOW TO RETURN DUE TO UNCERTAINTY ABOUT THE VIRUS.HIGHER PROGRAM COSTS DUE TO REDUCED ENTERTAINMENT TOURING INDUSTRY AND HIGH COSTS OF PERFORMANCE FEES AND MARKETING.
EDUCATIONAL PROGRAMMING THROUGH FREE WORKSHOPS, FIELD-TRIPS, FREE THEATRE CAMPS, AND LOW COST PERFORMANCES. 2,725 STUDENTS SERVED YEARLY. DUE TO COVID-19 THE THEATRE WAS CLOSED TO PUBLIC EVENTS AS OF MARCH 13, 2020, RESULTING IN A SHORTFALL FROM LOST MARKETING, RETURNED TICKET FEES, AND PERFORMANCE DEPOSITS. THEATRE DID NOT FULLY REOPEN UNTIL OCTOBER, 2021. PROGRAMS WITH THE SCHOOLS WILL NOT RESTART UNTIL FY 2022-2023
MAINTENANCE AND RENOVATION OF STAGE SUPPORT AREAS TO INCREASE INFRASTRUCTURE AND PROGRAMMING ABILITY OF OUR HISTORIC THEATRE.THEATRE DID NOT FULLY REOPEN UNTIL OCTOBER, 2021 WITH CAPITAL CAMPAIGN AND IMPROVEMENTS LARGELY SUSPENDED UNTIL 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josh Stellmon President | OfficerTrustee | 4 | $0 |
Dulcye Taylor Vice President | OfficerTrustee | 2 | $0 |
Ann Lederer Secretary | OfficerTrustee | 2 | $0 |
Deb Stenvall Director | OfficerTrustee | 1 | $0 |
Susan Nielson Director | Trustee | 1 | $0 |
Ryan Blum Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $49,264 |
| Related organizations | $0 |
| Government grants | $415,712 |
| All other contributions, gifts, grants, and similar amounts not included above | $432,733 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $897,709 |
| Total Program Service Revenue | $162,388 |
| Investment income | $19 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $133,222 |
| 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 | $14,887 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,208,704 |
| 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. | $59,980 |
| Compensation of current officers, directors, key employees. | $6,730 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $150,624 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,667 |
| Payroll taxes | $18,736 |
| Fees for services: Management | $5,119 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,524 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $392,818 |
| Advertising and promotion | $73,942 |
| Office expenses | $58,612 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $111,584 |
| Travel | $6,355 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,055 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $187,020 |
| Insurance | $26,375 |
| All other expenses | $0 |
| Total functional expenses | $1,235,122 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,522 |
| Savings and temporary cash investments | $137,774 |
| Pledges and grants receivable | $278,540 |
| Accounts receivable, net | $0 |
| 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 | $47,500 |
| Net Land, buildings, and equipment | $4,914,544 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,528,880 |
| Accounts payable and accrued expenses | $14,371 |
| Grants payable | $0 |
| Deferred revenue | $178,327 |
| 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 | $18,541 |
| Total liabilities | $211,239 |
| Net assets without donor restrictions | $5,149,712 |
| Net assets with donor restrictions | $167,929 |
| 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 | $5,528,880 |