Magic Theatre Inc
- Assets
- $1.1m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 57
- Location
- San Francisco, CA
- Founding
- 02/1971
- Data as of
- 08/2023
- EIN
- 94-1733420
Organization Overview
Magic Theatre Inc is located in San Francisco, CA. The organization was established in 1971. 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 08/2023, Magic Theatre Inc employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magic Theatre 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 08/2023, Magic Theatre Inc generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $1.5m during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MAGIC THEATRE IS A PLACE WHERE EMERGING AND ESTABLISHED PLAYWRIGHTS ENGAGE AUDIENCES IN A UNIQUE EXPERIENCE; THE CHANCE TO PARTICIPATE IN THE DEVELOPMENT OF NEW WORK THAT IS STAGED IN AN INTIMATE, PROFESSIONAL SETTING THAT SPEAKS TO CONTEMPORARY ISSUES WITH ORIGINALITY AND WIT, A SENSE OF URGENCY AND ADVENTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTION OF THEATRICAL PERFORMANCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean San Jose Artistic Director | Trustee | 40 | $120,000 |
Leigh Wolf Secretary | OfficerTrustee | 3 | $0 |
Karen Donovan Treasurer | OfficerTrustee | 6 | $0 |
Alan Stewart Board Member | Trustee | 6 | $0 |
Sarah Nina Hayon Board Member | Trustee | 4 | $0 |
Kathryn Kersey Chairman | OfficerTrustee | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $340,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $501,284 |
| Noncash contributions included in lines 1a–1f | $3,525 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $841,284 |
| Total Program Service Revenue | $193,978 |
| Investment income | $5,593 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $104,551 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,145,406 |
| 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. | $195,000 |
| Compensation of current officers, directors, key employees. | $42,900 |
| Compensation to disqualified persons | $656,713 |
| 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 | $60,632 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,180 |
| Office expenses | $10,386 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $125,427 |
| Travel | $25,441 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,963 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,530 |
| Insurance | $11,018 |
| All other expenses | $182,780 |
| Total functional expenses | $1,512,443 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $337,629 |
| Savings and temporary cash investments | $67,341 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $128,000 |
| 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 | $7,291 |
| Net Land, buildings, and equipment | $35,312 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $511,332 |
| Total assets | $1,086,905 |
| Accounts payable and accrued expenses | $87,776 |
| 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 | $100,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $492,347 |
| Total liabilities | $680,123 |
| Net assets without donor restrictions | $145,022 |
| Net assets with donor restrictions | $261,760 |
| 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 | $1,086,905 |