Riverside Theatre Inc
- Assets
- $54.4m
- Revenue
- $17.8m
- Investments
- $0.0
- Employees
- 207
- Location
- Vero Beach, FL
- Founding
- 08/1981
- Data as of
- 05/2023
- EIN
- 59-1764305
Organization Overview
Riverside Theatre Inc is located in Vero Beach, FL. The organization was established in 1981. 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 05/2023, Riverside Theatre Inc employed 207 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverside 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 05/2023, Riverside Theatre Inc generated $17.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $9.4m during the year ending 05/2023. While expenses have increased by 0.5% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY EXEMPT PURPOSE OF THE ORGANIZATION IS TO OPERATE A PROFESSIONAL THEATRE IN VERO BEACH, FLORIDA
Describe the Organization's Program Activity:
PRODUCTION OF PLAYS FOR THE GENERAL PUBLIC
SUMMER AND IN-SCHOOL WORKSHOPS FOR CHILDREN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heidi Waxlax President | OfficerTrustee | 4 | $0 |
Thomas Tierney Secretary | OfficerTrustee | 4 | $0 |
Richard Solar Vice President/treasurer | OfficerTrustee | 4 | $0 |
Barbara Baldwin Trustee | Trustee | 2 | $0 |
Samuel Bell Jr Trustee | Trustee | 2 | $0 |
John Brennan Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,032,536 |
| Fundraising events | $1,082,321 |
| Related organizations | $0 |
| Government grants | $400,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,030,780 |
| Noncash contributions included in lines 1a–1f | $69,980 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,545,637 |
| Total Program Service Revenue | $3,655,322 |
| Investment income | $378,025 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,386 |
| Net Gain/Loss on Asset Sales | -$370,061 |
| Net Income from Fundraising Events | $114,153 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,794,851 |
| 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. | $643,494 |
| Compensation of current officers, directors, key employees. | $643,494 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,931,276 |
| Pension plan accruals and contributions | $229,533 |
| Other employee benefits | $345,379 |
| Payroll taxes | $262,185 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,879 |
| Fees for services: Accounting | $55,099 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $49,716 |
| Fees for services: Other | $687,121 |
| Advertising and promotion | $279,598 |
| Office expenses | $1,069,472 |
| Information technology | $112,817 |
| Royalties | $319,667 |
| Occupancy | $1,125,337 |
| Travel | $210,552 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,220 |
| Interest | $4,547 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $781,819 |
| Insurance | $51,515 |
| All other expenses | $0 |
| Total functional expenses | $9,404,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $585,596 |
| Savings and temporary cash investments | $16,493,010 |
| Pledges and grants receivable | $627,950 |
| Accounts receivable, net | $274,463 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $37,218 |
| Prepaid expenses and deferred charges | $1,787,518 |
| Net Land, buildings, and equipment | $20,988,206 |
| Investments—publicly traded securities | $12,686,130 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $887,968 |
| Total assets | $54,368,059 |
| Accounts payable and accrued expenses | $850,379 |
| Grants payable | $0 |
| Deferred revenue | $3,311,914 |
| 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 | $203,763 |
| Total liabilities | $4,366,056 |
| Net assets without donor restrictions | $38,099,607 |
| Net assets with donor restrictions | $11,902,396 |
| 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 | $54,368,059 |