Iola Theatre Association
- Assets
- $297.8k
- Revenue
- $309.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Iola, KS
- Founding
- Data as of
- 06/2024
- EIN
- 87-2929235
Organization Overview
Iola Theatre Association is located in Iola, KS. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iola Theatre Association 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 06/2024, Iola Theatre Association generated $309.1k in total revenue. All expenses for the organization totaled $140.7k during the year ending 06/2024.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
IOLA THEATRE ASSOCIATION IS RAISING FUNDS THROUGH GRANTS AND A CAPITAL CAMPAIGN TO RESTORE THE IOLA THEATRE. WE ARE WORKING WITH AN ARCHITECTURAL FIRM TO SCOPE THE RESTORATION AND RENOVATION WORK NEEDED AND TO OBTAIN PRECISE COST ESTIMATES. ALL WORK IS TO BE FUNDED THROUGH A CAPITAL CAMPAIGN TARGETING LOCAL AND REGIONAL DONORS AND WILL ULTIMATELY RESULT IN CONSTRUCTION DOCUMENTS THAT WILL BE PUBLICLY BID. THIS PERIOD IS ESTIMATED TO TAKE 180 DAYS FOR THE INITIAL PHASE AND AN ADDITIONAL 180 DAYS TO SECURE FUNDING AND REQUIRE APPROXIMATELY 20 HOURS PER WEEK BY VOLUNTEERS. UPON EXECUTION OF CONSTRUCTION DOCUMENTS, WE ANTICIPATE A 365 DAY CONSTRUCTION PERIOD, WITH TOTAL RENOVATION/RESTORATION COSTS ESTIMATED AT APPROXIMATELY $4 MILLION. THIS WORK WILL BE FUNDED THROUGH PRIVATE FOUNDATION FUNDING, STATE AND LOCAL GOVERNMENT SUPPORT, AND PRIVATE DONATIONS. THE GENERAL CONTRACTOR WILL BE OVERSEEN BY A COMMITTEE OF THE BOARD OF DIRECTORS THAT WILL LIKELY SPEND UPWARDS OF 30 HOURS PER WEEK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENOVATING THE HISTORIC THEATRE BUILDING. BRICK AND MORTAR REPAIR WAS COMPLETED ON THE NORTH AND SOUTH EXTERIOR WALLS.
APPROVAL OF REQUEST TO BE PLACED ON THE NATIONAL REGISTRY OF HISTORIC PLACES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Toland Chair | Officer | 4 | $0 |
Cortney Kelly Vice-Chair | Officer | 2 | $0 |
Maria Unruh Secretary/ Treasurer | Officer | 5 | $0 |
Paul Porter Member | Officer | 1 | $0 |
James Hall Member | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $302,841 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $302,841 |
| Total Program Service Revenue | $0 |
| Investment income | $6,283 |
| 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 | $309,124 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,135 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $144 |
| Royalties | $0 |
| Occupancy | $772 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $140,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,853 |
| Savings and temporary cash investments | $261,282 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $19,650 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $297,785 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $19,650 |
| Retained earnings, endowment, accumulated income, or other funds | $278,135 |
| Total liabilities and net assets/fund balances | $297,785 |