North Carolina Theatre
- Assets
- $1.8m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 82
- Location
- Raleigh, NC
- Founding
- 05/1974
- Data as of
- 12/2022
- EIN
- 56-1072874
Organization Overview
North Carolina Theatre is located in Raleigh, NC. The organization was established in 1974. 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 12/2022, North Carolina Theatre employed 82 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina 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, North Carolina Theatre generated $3.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.4%) each year. All expenses for the organization totaled $4.3m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PRODUCE PROFESSIONAL THEATRE PRODUCTIONS AND OPERATE A YOUTH TRAINING PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NCT CONSERVATORY INCLUDES YEAR-ROUND PRODUCTIONS OF PROFESSIONAL THEATRE PROGRAMMING SUCH AS MUSICALS AND PLAYS.
TO PRODUCE PROFESSIONAL THEATRE PRODUCTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Doran President & CEO | Officer | 50 | $166,462 |
Debbie Hammersla Chair Of Board | OfficerTrustee | 0.5 | $0 |
Jeff Weatherspoon Former Board Chair | OfficerTrustee | 0.5 | $0 |
Anna Churchill Vice Chair Of Board And Chair Of Governance | OfficerTrustee | 0.5 | $0 |
John Zaloom Secretary | OfficerTrustee | 0.5 | $0 |
Jill Heath Treasurer And Chair Of Finance Committee | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,308,753 |
| All other contributions, gifts, grants, and similar amounts not included above | $665,506 |
| Noncash contributions included in lines 1a–1f | $51,293 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,974,259 |
| Total Program Service Revenue | $1,444,220 |
| Investment income | $41,782 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$17,291 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,493,103 |
| 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. | $187,435 |
| Compensation of current officers, directors, key employees. | $23,930 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,510,717 |
| Pension plan accruals and contributions | $13,511 |
| Other employee benefits | $153,012 |
| Payroll taxes | $104,329 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $55,368 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,756 |
| Fees for services: Other | $375,075 |
| Advertising and promotion | $515,864 |
| Office expenses | $21,861 |
| Information technology | $0 |
| Royalties | $132,778 |
| Occupancy | $223,870 |
| Travel | $151,491 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $47,556 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,428 |
| Insurance | $25,558 |
| All other expenses | $197,672 |
| Total functional expenses | $4,331,424 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $302,147 |
| Savings and temporary cash investments | $1,169 |
| Pledges and grants receivable | $323,580 |
| Accounts receivable, net | $42,624 |
| 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 | $84,135 |
| Net Land, buildings, and equipment | $44,471 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $973,130 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,771,256 |
| Accounts payable and accrued expenses | $516,206 |
| Grants payable | $0 |
| Deferred revenue | $1,109,904 |
| 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 | $947,939 |
| Unsecured mortgages and notes payable | $149,259 |
| Other liabilities | $0 |
| Total liabilities | $2,723,308 |
| Net assets without donor restrictions | -$1,241,585 |
| Net assets with donor restrictions | $289,533 |
| 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 | $1,771,256 |