Freefall Theatre Inc
- Assets
- $542.4k
- Revenue
- $729.2k
- Investments
- $0.0
- Employees
- 39
- Location
- Saint Petersburg, FL
- Founding
- 07/2010
- Data as of
- 06/2021
- EIN
- 26-4251761
Organization Overview
Freefall Theatre Inc is located in Saint Petersburg, FL. The organization was established in 2010. 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 06/2022, Freefall Theatre Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freefall 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 06/2021, Freefall Theatre Inc generated $729.2k 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 (12.8%) each year. All expenses for the organization totaled $843.1k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (7.9%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREEFALL CONTINUED TO FOLLOW CDC AND STATE OF FLORIDA PANDEMIC GUIDELINES, WHICH ENABLED US TO RESUME NORMAL ACTIVITY. FREEFALL OFFERED SIX MAINSTAGE PRODUCTIONS WITH A TOTAL OF 142 PERFORMANCES, AS WELL AS 11 ADDITIONAL CONCERTS AND PROGRAMS. WHILE TICKET REVENUES AND CHARITABLE CONTRIBUTIONS REMAINED LOWER THAN PRE-PANDEMIC AVERAGES, COVID RECOVERY GRANTS THROUGH GOVERNMENT ENTITIES HELPED BRIDGE THE GAP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl Forchilli President | OfficerTrustee | 20 | $0 |
Robert Iles Vice President | OfficerTrustee | 1 | $0 |
Robert O'brion Secretary | OfficerTrustee | 1 | $0 |
Ed Lally Board Member | Trustee | 1 | $0 |
Eileen Stephenson Sweeney Board Member | Trustee | 1 | $0 |
Bob Sanders Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $238,814 |
| All other contributions, gifts, grants, and similar amounts not included above | $290,618 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $529,432 |
| Total Program Service Revenue | $185,682 |
| Investment income | $1,142 |
| 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 | $3,818 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $729,213 |
| 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 | $366,513 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $38,185 |
| Payroll taxes | $27,369 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,314 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,754 |
| Office expenses | $0 |
| Information technology | $1,380 |
| Royalties | $11,144 |
| Occupancy | $145,942 |
| Travel | $10,852 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,471 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $38,363 |
| All other expenses | $36,989 |
| Total functional expenses | $843,088 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,773 |
| Savings and temporary cash investments | $129,931 |
| 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 | $26,198 |
| Net Land, buildings, and equipment | $363,461 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $542,363 |
| Accounts payable and accrued expenses | $20,793 |
| Grants payable | $0 |
| Deferred revenue | $65,724 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $92,995 |
| Secured mortgages and notes payable | $406,816 |
| Unsecured mortgages and notes payable | $116,325 |
| Other liabilities | $0 |
| Total liabilities | $702,653 |
| Net assets without donor restrictions | -$160,290 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $542,363 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Freefall Theatre Inc has recieved totaling $360.
| Awarding Organization | Amount |
|---|---|
Jenbek Foundation Appleton, WI PURPOSE: GENERAL SUPPORT | $360 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Asolo Theater Inc Sarasota, FL | $39,065,744 | $11,173,577 |
Riverside Theatre Inc Vero Beach, FL | $44,506,198 | $8,851,736 |
Florida Studio Theatre Inc Sarasota, FL | $37,267,894 | $9,853,127 |
Venice Theatre Inc Venice, FL | $7,118,612 | $5,710,001 |
The Naples Players Inc Naples, FL | $22,577,856 | $12,453,721 |
Aurora Theatre Inc Lawrenceville, GA | $10,092,561 | $4,172,461 |
Actors Playhouse Productions Inc Coral Gables, FL | $3,896,011 | $4,416,783 |
Orlando Shakespeare Theater Inc Orlando, FL | $6,529,809 | $4,359,887 |
Tampa Theatre Inc Tampa, FL | $11,330,345 | $3,845,345 |
Alabama Shakespeare Festival Inc Montgomery, AL | $8,144,651 | $3,904,984 |
Orlando Repertory Theatre Inc Orlando, FL | $2,714,960 | $3,553,699 |
Gulfshore Playhouse Inc Naples, FL | $41,093,370 | $22,898,859 |