Key West Players Inc
- Assets
- $1.8m
- Revenue
- $777.8k
- Investments
- $0.0
- Employees
- 52
- Location
- Key West, FL
- Founding
- 06/1982
- Data as of
- 06/2020
- EIN
- 59-1966652
Organization Overview
Key West Players Inc, operating under the name Waterfront Playhouse, is located in Key West, FL. The organization was established in 1982. 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, Waterfront Playhouse employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waterfront Playhouse 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 06/2020, Waterfront Playhouse generated $777.8k 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 (8.7%) each year. All expenses for the organization totaled $929.2k during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (2.0%) 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THEATER PERFORMANCES AND EDUCATIONAL PROGRAMS FOR THE RESIDENTS OF KEY WEST, THE FLORIDA KEYS, AND FOR THE MANY VISITORS TO THE KEYS. RECOGNIZED AS THE BEST PROFESSIONAL THEATER IN FLORIDA FOR MANY YEARS. WE ALSO ENSURE MAINTENANCE OF OUR HISTORIC PLAYHOUSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WATERFRONT PLAYHOUSE PRESENTS FIVE MAIN STAGE SHOWS EACH SEASON SUPPLEMENTED BY A LIMITED RUN SPECIAL PERFORMANCES FEATURING THE BEST PROFESSIONAL ENTERTAINERS IN KEY WEST. IN ADDITION, THE THEATER SUPPORTS PRESENTATIONS BY VISITING SHOWS, SPECIAL PERFORMANCES BY STUDENTS OF THE PERFORMING ARTS, AND ARTS EDUCATION PROGRAMS FOR THE SCHOOL CHILDREN IN KEY WEST. THE THEATER SUPPORTS THE LOCAL ECONOMY NOT ONLY THROUGH THE USE OF LOCAL TALENT AND MERCHANTS, BUT ALSO BY CREATING AN IMPORTANT VENUE OF CULTURAL TOURISM IN THE KEYS. HOUSING FOR VISITING ACTORS WAS PROVIDED BY MEMBERS OF THE COMMUNITY.
PROVIDE STEWARDSHIP FOR THE HISTORICAL BUILDING THAT IS THE WATERFRONT PLAYHOUSE. INCLUDES OPERATIONS AND MAINTENANCE AS WELL AS CAPITAL IMPROVEMENTS AND EQUIPMENT ACQUISITION OVER TIME.
PROVIDE CHILDRENS SUMMER THEATRICAL CAMP AND FACILITY USE AND SUPPORT FOR EDUCATIONAL SUMMER ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Elwell President | OfficerTrustee | 2 | $0 |
Timothy Maloney Vice President | OfficerTrustee | 3 | $0 |
Fank Menditch Treasurer | OfficerTrustee | 3 | $0 |
Amy Bondurant Director | Trustee | 1 | $0 |
William Regardie Director | Trustee | 1 | $0 |
Wayne Smith Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $394,206 |
| Investment income | $16,044 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$16,522 |
| Net Gain/Loss on Asset Sales | $2,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $777,825 |
| Statement of Expenses | |
|---|---|
| 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. | $147,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $274,150 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $28,792 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,339 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,613 |
| Fees for services: Other | $0 |
| Advertising and promotion | $72,476 |
| Office expenses | $2,303 |
| Information technology | $3,324 |
| Royalties | $23,549 |
| Occupancy | $63,107 |
| Travel | $12,637 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $86,287 |
| Insurance | $17,450 |
| All other expenses | $0 |
| Total functional expenses | $929,182 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,018 |
| Savings and temporary cash investments | $234,084 |
| 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 | $41,108 |
| Investments—publicly traded securities | $314,761 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,805,780 |
| Accounts payable and accrued expenses | $7,455 |
| Grants payable | $0 |
| Deferred revenue | $34,924 |
| 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 | $510,869 |
| Unsecured mortgages and notes payable | $279,300 |
| Other liabilities | $1,340 |
| Total liabilities | $833,888 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $971,892 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Key West Players Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: ARTS/CULTURE/HUMANITIES | $20,000 |
Hunter-Ward Foundation Woodland Hills, CA PURPOSE: LOCAL NON-PROFIT THEATRE. | $20,000 |
Endowment Analysis
| Beg. Balance | $417,526 |
| Earnings | -$59,894 |
| Admin Expense | $4,982 |
| Ending Balance | $352,650 |
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 |