5th Avenue Theatre Association
- Assets
- $25.1m
- Revenue
- $18.3m
- Investments
- $0.0
- Employees
- 669
- Location
- Seattle, WA
- Founding
- 03/1980
- Data as of
- 07/2021
- EIN
- 91-1087612
Organization Overview
5th Avenue Theatre Association is located in Seattle, WA. The organization was established in 1980. 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, 5th Avenue Theatre Association employed 669 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 5th Avenue 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 07/2021, 5th Avenue Theatre Association generated $18.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $8.8m during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (15.5%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
NURTURE, ADVANCE, AND CELEBRATE ALL ASPECTS OF THE GREAT ORIGINAL ART FORM: THE MUSICAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE 5TH AVENUE THEATRE'S MISSION IS "TO NURTURE, ADVANCE, AND CELEBRATE ALL ASPECTS OF THE GREAT ORIGINAL ART FORM: THE MUSICAL." IN A TYPICAL YEAR, WE FULFILL OUR MISSION AND MAKE A DIFFERENCE THROUGH THE POWER OF MUSICALS IN THREE WAYS: (1) WE PRODUCE FIVE - SIX MUSICALS FROM THE GROUND UP FOR 175,000 PACIFIC NORTHWEST AUDIENCE MEMBERS; (2) WE INVEST IN AND DEVELOP NEW MUSICALS THAT PUSH ARTISTIC BOUNDARIES AND TELL NEW STORIES; AND (3) WE INSPIRE THE NEXT GENERATION OF THEATER ARTISTS AND AUDIENCES WITH HIGH-QUALITY ARTS EDUCATION AND ENGAGEMENT PROGRAMMING FOR 30,000 YOUTH AND ADULTS. AS ONE OF THE REGION'S LARGEST PERFORMING ARTS EMPLOYERS, WE EMPLOY ROUGHLY 700 PEOPLE WITH 90% OF THEM CALLING WASHINGTON STATE HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Meadows President | OfficerTrustee | 2 | $0 |
Rob Sexton Treasurer | OfficerTrustee | 2 | $0 |
Grace Yuan Secretary | OfficerTrustee | 2 | $0 |
Beth Porter Chair | OfficerTrustee | 2 | $0 |
Les Biller Immediate Past Chair | Trustee | 2 | $0 |
Kenny Alhadeff Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lms22 Touring Llc Artistic Company | 7/30/23 | $3,436,103 |
A Contemporary Theatre Artistic Company | 7/30/23 | $909,698 |
Level Seattle Hospitality/hotel Services | 7/30/23 | $764,050 |
Mogo Marketing And Media Llc Marketing | 7/30/23 | $530,001 |
Fish With Cheese Limited Partnership Artistic Company | 7/30/23 | $488,639 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,136,865 |
| Investment income | $968 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $30,483 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $130 |
| Net Income from Fundraising Events | -$172,853 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,258,677 |
| 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. | $506,470 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,941,368 |
| Pension plan accruals and contributions | $59,711 |
| Other employee benefits | $428,743 |
| Payroll taxes | $719,449 |
| Fees for services: Management | $333,093 |
| Fees for services: Legal | $38,672 |
| Fees for services: Accounting | $41,685 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $135,252 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $216,209 |
| Office expenses | $88,206 |
| Information technology | $309,660 |
| Royalties | $154,650 |
| Occupancy | $1,072,064 |
| Travel | $11,592 |
| 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 | $601,038 |
| Insurance | $214,055 |
| All other expenses | $0 |
| Total functional expenses | $8,806,072 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,225,200 |
| Savings and temporary cash investments | $3,562,163 |
| Pledges and grants receivable | $2,295,460 |
| Accounts receivable, net | $1,751,688 |
| 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 | $952,455 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $243,747 |
| Intangible assets | $0 |
| Other assets | $31,199 |
| Total assets | $25,132,895 |
| Accounts payable and accrued expenses | $1,370,951 |
| Grants payable | $0 |
| Deferred revenue | $3,923,571 |
| 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 | $2,115,596 |
| Other liabilities | $1,707,956 |
| Total liabilities | $9,118,074 |
| 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 | $16,014,821 |