Theater Wit Nfp
- Assets
- $378.9k
- Revenue
- $927.1k
- Investments
- $0.0
- Employees
- 113
- Location
- Chicago, IL
- Founding
- 04/2004
- Data as of
- 12/2023
- EIN
- 03-0521755
Organization Overview
Theater Wit Nfp is located in Chicago, IL. The organization was established in 2004. 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 12/2023, Theater Wit Nfp employed 113 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Theater Wit Nfp 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 12/2023, Theater Wit Nfp generated $927.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (7.5%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (6.2%) per year over the past 9 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
THEATER WIT PRODUCES LIVE SHOWS SEEKING TO ENTERTAIN AND EDUCATE THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO BRING LIVE THEATER TO THE CHICAGO AREA WITH AT LEAST ONE PERFORMANCE PER YEAR.THREE THEATER SPACES PROVIDE AFFORDABLE AND WELL-EQUIPPED THEATRICAL SPACE FOR NON-PROFIT ORGANIZATIONS AND COMMUNITY GROUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Stieber President | OfficerTrustee | 1 | $0 |
Chuck Hornewer Treasurer | OfficerTrustee | 1 | $0 |
Neal Smyth Secretary | OfficerTrustee | 1 | $0 |
Bruce Wechsler Director | Trustee | 1 | $0 |
Roger Daniel Director | Trustee | 1 | $0 |
Jeremy Wechsler Artistic Director | OfficerTrustee | 40 | $43,877 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $117,376 |
| All other contributions, gifts, grants, and similar amounts not included above | $334,060 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $451,436 |
| Total Program Service Revenue | $475,705 |
| Investment income | $4 |
| 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 | $927,145 |
| 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. | $87,754 |
| Compensation of current officers, directors, key employees. | $43,877 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $351,716 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,627 |
| Payroll taxes | $33,619 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,027 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,051 |
| Advertising and promotion | $3,949 |
| Office expenses | $123,471 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $175,774 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,823 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,400 |
| Insurance | $18,179 |
| All other expenses | $213 |
| Total functional expenses | $1,073,968 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,872 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $66,616 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,978 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $30,868 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $247,536 |
| Total assets | $378,870 |
| Accounts payable and accrued expenses | $134,621 |
| 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 | $331,816 |
| Total liabilities | $466,437 |
| Net assets without donor restrictions | -$151,067 |
| Net assets with donor restrictions | $63,500 |
| 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 | $378,870 |