Goodspeed Opera House Foundation Inc
- Assets
- $32.4m
- Revenue
- $5.7m
- Investments
- $625.8k
- Employees
- 180
- Location
- East Haddam, CT
- Founding
- 02/1961
- Data as of
- 12/2020
- EIN
- 13-1969314
Organization Overview
Goodspeed Opera House Foundation Inc is located in East Haddam, CT. The organization was established in 1961. 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 12/2021, Goodspeed Opera House Foundation Inc employed 180 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Goodspeed Opera House Foundation 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 12/2020, Goodspeed Opera House Foundation Inc generated $5.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.7%) each year. All expenses for the organization totaled $6.1m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (10.6%) per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF GOODSPEED MUSICALS IS TO BE THE LEADER IN PRESERVING AND PRODUCING MUSICAL THEATRE OF THE HIGHEST QUALITY BY RETHINKING, RESTORING, AND PRODUCING VALUED WORKS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2021, GOODSPEED MUSICALS WAS UNABLE TO RESUME INDOOR, IN PERSON PERFORMANCE UNTIL PARTWAY THROUGH THE CALENDAR YEAR DUE TO COVID-19 RESTRICTIONS IN PLACE IN THE STATE OF CONNECTICUT. IN LIEU OF LIVE PERFORMANCE IN THE EARLY SPRING, WE CO-PRODUCED OR PRODUCED OURSELVES A STREAMING SERIES "GOODSPEED ON DEMAND,TITLES INCLUDED JOHN CULLUM: "AN ACCIDENTAL STAR CHRISTIANE NOLL: "COMING ALIVE AGAIN AND A RE-STREAMING OF OUR 2019 NORMA TERRIS PRODUCTION OF "PASSING THROUGH." WE CONSTRUCTED AND PERFORMED OUTDOORS UNDER A LARGE TENT ON OUR PROPERTY FOR MOST OF OUR "SEASON," IN A SERIES CALLED "GOODSPEED BY THE RIVER." PERFORMANCES AND PERFORMERS INCLUDED: "TURN BACK TIME: BEN & DEE ROCK THE 70S, 80S, AND BEYOND "AMBASSADOR OF LOVE: CELEBRATING PEARL BAILEY "BENNETT & BABS: THE SONGS OF TONY BENNETT & BARBRA STREISAND "TOGETHER AGAIN: MAX AND CELESTE SING THEIR BROADWAY FAVORITES "JOHNNY & THE DEVIL'S BOX: IN CONCERT AND AN EQUITY PRODUCTION OF "LITTLE GIRL BLUE: THE NINA SIMONE MUSICAL." WE WERE ABLE TO HOST 8,457 TOTAL PATRONS DURING THESE OUTDOOR PERFORMANCES AND CABARETS, 24% OF WHOM WERE NEW TO GOODSPEED. THESE PERFORMANCES ALLOWED US TO HIGHLIGHT SOME OF OUR SHIFT TOWARD INCLUSIVE STORY-TELLING, FOCUSING ON BIPOC ARTISTS AND STORIES IN OUR PRODUCTIONS. WE WERE ABLE TO RETURN INDOORS FOR OUR FIRST PRODUCTION BACK IN THE OPERA HOUSE WITH "A GRAND NIGHT FOR SINGING", WHICH RAN FROM SEPT. 24 THROUGH NOV. 28, 2021, FOR A TOTAL OF 77 PERFORMANCES. ALSO DURING 2021, WE CONTINUED TO HOLD VIRTUAL EDUCATIONAL PROGRAMMING, INCLUDING VIRTUAL KIDS COMPANY CLASSES AND PRIVATE LESSONS. IN ADDITION, 1,250 STUDENTS FROM NEARBY TOWNS AND REGIONS WERE SERVED BY 10 VIRTUAL ARTS EDUCATION COLLABORATION RESIDENCIES 30 VIRTUAL FIELDTRIPS WHERE STUDENTS PARTICIPATED IN WORKSHOPS AND WERE ABLE TO WATCH FULL PERFORMANCES OF SOME OF OUR PAST PRODUCTIONS.
MISCELLANEOUS REVENUE EARNED BY THE ORGANIZATION FOR ACTIVITIES RELATED TO THE ORGANIZATION'S EXEMPT PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donna Lynn Cooper Hilton Artistic Director | OfficerTrustee | 40 | $164,491 |
David Byrd Managing Director | OfficerTrustee | 40 | $162,291 |
Daniel Mcmahon Director Of Marketing & Pr | 40 | $116,417 | |
Rachel Tischler General Manager | 40 | $115,657 | |
Nancy Altshuler Director Of Development | 40 | $106,044 | |
Mark Masselli Vice President | OfficerTrustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Centerbrook Architects And Planners Architects | 12/30/21 | $247,000 |
Cliftonlarsonallen Llp Accounting | 12/30/21 | $122,561 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,526,397 |
| Investment income | $513,459 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $118,889 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,291,769 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,734,785 |
| 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. | $295,742 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,207,184 |
| Pension plan accruals and contributions | $21,738 |
| Other employee benefits | $710,112 |
| Payroll taxes | $174,498 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50,871 |
| Fees for services: Accounting | $50,469 |
| Fees for services: Lobbying | $4,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,535 |
| Fees for services: Other | $290,199 |
| Advertising and promotion | $182,692 |
| Office expenses | $19,133 |
| Information technology | $61,695 |
| Royalties | $12,369 |
| Occupancy | $725,155 |
| Travel | $11,681 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,370 |
| Interest | $30,611 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $473,716 |
| Insurance | $276,143 |
| All other expenses | $0 |
| Total functional expenses | $6,113,004 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93,310 |
| Savings and temporary cash investments | $413,795 |
| Pledges and grants receivable | $288,943 |
| Accounts receivable, net | $71,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $40,587 |
| Prepaid expenses and deferred charges | $188,178 |
| Investments—publicly traded securities | $19,591,779 |
| Investments—other securities | $625,763 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,360,581 |
| Accounts payable and accrued expenses | $651,366 |
| Grants payable | $0 |
| Deferred revenue | $931,014 |
| 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 | $1,097,169 |
| Unsecured mortgages and notes payable | $1,283,271 |
| Other liabilities | $1,911,744 |
| Total liabilities | $5,874,564 |
| 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 | $26,486,017 |
Grants Recieved
Over the last fiscal year, we have identified 26 grants that Goodspeed Opera House Foundation Inc has recieved totaling $391,462.
| Awarding Organization | Amount |
|---|---|
Shubert Foundation Inc New York, NY PURPOSE: GENERAL OPERATING | $150,000 |
Scripps Family Fund For Education And The Arts Ft Mitchell, KY PURPOSE: VIRTUAL ARTS EDUCATION COLLABORATION PROGRAMMING FOR WINDHAM SCHOOLS AND PLANING FOR VIRTUAL PROGRAMMING BEYOND THE PANDEMIC | $35,000 |
Scripps Family Fund For Education And The Arts Ft Mitchell, KY PURPOSE: VIRTUAL AND IN-PERSON ARTS EDUCATION COLLABORATION PROGRAMMING FOR THE WINDHAM SCHOOL DISTRICT AND OTHER UNDERSERVED DISTRICTS IN CONNECTICUT | $35,000 |
Trailviews Foundation Wilmington, DE PURPOSE: 2021 ENDOWMENT FUND/ SENSORY FRIENDLY PERFORMANCE AND THE CAPITAL CAMPAIGN | $32,500 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: ARTS AND CULTURE | $15,000 |
Endowment Analysis
| Beg. Balance | $4,713,687 |
| Earnings | $2,453 |
| Net Contributions | $35,783 |
| Other Expense | $2,453 |
| Ending Balance | $4,749,470 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vivian Beaumont Theater Inc New York, NY | $199,499,593 | $19,952,200 |
American Repertory Theatre Cambridge, MA | $28,732,151 | $12,990,237 |
Signature Theatre Company New York, NY | $62,849,854 | $11,675,589 |
Playwrights Horizons Inc New York, NY | $27,151,743 | $13,749,281 |
Huntington Theatre Company Inc Boston, MA | $85,399,357 | $14,500,477 |
Manhattan Theatre Club Inc New York, NY | $95,784,807 | $15,978,594 |
Hartford Stage Company Hartford, CT | $23,293,519 | $12,254,112 |
Stella Adler Studio Of Acting New York, NY | $5,616,573 | $9,953,377 |
Storyville Center For The Spoken Word Inc New York, NY | $12,362,100 | $12,256,751 |
Second Stage Theatre New York, NY | $62,708,833 | $8,654,071 |
Atlantic Theater Company New York, NY | $26,591,945 | $8,396,675 |
Geva Theatre Center Inc Rochester, NY | $17,333,733 | $8,117,861 |