Michigan Theater Foundation Inc
- Assets
- $15.3m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 174
- Location
- Ann Arbor, MI
- Founding
- 02/1982
- Data as of
- 09/2023
- EIN
- 38-2269013
Organization Overview
Michigan Theater Foundation Inc is located in Ann Arbor, MI. The organization was established in 1982. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, Michigan Theater Foundation Inc employed 174 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Theater 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 09/2023, Michigan Theater Foundation Inc generated $4.6m 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 (8.1%) each year. All expenses for the organization totaled $5.8m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Michigan Theater Foundation Inc has awarded 103 individual grants totaling $739,172. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO JOYFULLY BRING DIVERSE PEOPLE TOGETHER TO BUILD COMMUNITY, ENHANCE UNDERSTANDING, ADVANCE PUBLIC STORYTELLING AND THE ARTS, AND PROTECT OUR HISTORIC BUILDINGS.
Describe the Organization's Program Activity:
OPERATION, MAINTENANCE, AND RESTORATION OF THE MICHIGAN THEATER AND THE STATE THEATRE FOR THE BENEFIT OF THE COMMUNITY AND THE ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell B Collins Ceo/secretar | OfficerTrustee | 40 | $122,099 |
Janice Warner Finance Dire | Officer | 40 | $90,168 |
Dharma Akmon Director | Trustee | 1 | $0 |
Jamie Buhr Immediate Pa | Trustee | 1 | $0 |
Anne Cooper Director | Trustee | 1 | $0 |
Christopher Conlin Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Universal Picture Film Distribution | 9/29/19 | $148,295 |
The Andrews Group Human Resources | 9/29/19 | $102,385 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $540,527 |
| Fundraising events | $102,521 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,176,710 |
| Noncash contributions included in lines 1a–1f | $2,848 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,819,758 |
| Total Program Service Revenue | $2,038,293 |
| Investment income | $101,720 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$9,874 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $418,951 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,633,040 |
| 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. | $223,408 |
| Compensation of current officers, directors, key employees. | $158,581 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,777,181 |
| Pension plan accruals and contributions | $33,277 |
| Other employee benefits | $300,759 |
| Payroll taxes | $183,426 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,788 |
| Fees for services: Accounting | $61,131 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $295,608 |
| Advertising and promotion | $185,584 |
| Office expenses | $60,647 |
| Information technology | $90,348 |
| Royalties | $0 |
| Occupancy | $240,338 |
| Travel | $30,802 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $887 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $699,683 |
| Insurance | $52,046 |
| All other expenses | $171,530 |
| Total functional expenses | $5,789,058 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,027,358 |
| Savings and temporary cash investments | $3,072,491 |
| Pledges and grants receivable | $1,020,216 |
| Accounts receivable, net | $83,741 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $86,845 |
| Prepaid expenses and deferred charges | $74,892 |
| Net Land, buildings, and equipment | $9,547,341 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $361,119 |
| Total assets | $15,274,003 |
| Accounts payable and accrued expenses | $343,175 |
| Grants payable | $0 |
| Deferred revenue | $1,126,288 |
| 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 | $316,843 |
| Total liabilities | $1,786,306 |
| Net assets without donor restrictions | $12,467,481 |
| Net assets with donor restrictions | $1,020,216 |
| 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 | $15,274,003 |
Grants Awarded
Over the last fiscal year, Michigan Theater Foundation Inc has awarded $739,172 in support to 103 organizations.
| Grant Recipient | Amount |
|---|---|
14 PEWS PURPOSE: PROGRAM SUPPORT | $5,286 |
APERTURE CINEMA PURPOSE: PROGRAM SUPPORT | $5,286 |
ACME SCREENING ROOM PURPOSE: PROGRAM SUPPORT | $5,286 |
AFI SILVER THEATRE AND CULTURAL CEN PURPOSE: PROGRAM SUPPORT | $5,286 |
ALAMO THEATRE PURPOSE: PROGRAM SUPPORT | $5,286 |
ANTHOLOGY FILM ARCHIVES PURPOSE: PROGRAM SUPPORT | $5,286 |