Magnetic Theatre
- Assets
- $78.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Asheville, NC
- Founding
- 09/2012
- Data as of
- 12/2022
- EIN
- 27-4033269
Organization Overview
Magnetic Theatre is located in Asheville, NC. The organization was established in 2012. According to its NTEE Classification (A65) the organization is classified as: Theater, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnetic Theatre 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 12/2022, Magnetic Theatre generated $178.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $168.1k during the year ending 12/2022. While expenses have increased by 9.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
MAINSTAGE SEASON, ACTING CLASSES, NEW PLAY DEVELOPMENT PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Jones Co-Artistic | 20 | $1,800 | |
Jessica Johnson Co-Artistic | 20 | $1,800 | |
Jason Phillips President | 5 | $0 | |
George Awad Vice Preside | 5 | $0 | |
Josh Sullivan Treasurer | 3 | $0 | |
Erin Mccarson Board Member | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $110,322 |
| Total Program Service Revenue | $67,734 |
| Membership dues | $0 |
| Investment income | $1 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $178,057 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $32,925 |
| Professional fees and other payments to independent contractors | $725 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $134,488 |
| Total expenses | $168,138 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $51,543 |
| Other assets | $0 |
| Total assets | $78,632 |
| Total liabilities | $565 |
| Net assets or fund balances | $78,067 |