Asolo Theater Inc
- Assets
- $39.1m
- Revenue
- $11.2m
- Investments
- $0.0
- Employees
- 237
- Location
- Sarasota, FL
- Founding
- 09/1987
- Data as of
- 06/2020
- EIN
- 59-2717909
Organization Overview
Asolo Theater Inc is located in Sarasota, FL. The organization was established in 1987. 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 06/2021, Asolo Theater Inc employed 237 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asolo Theater 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 06/2020, Asolo Theater Inc generated $11.2m 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 (3.4%) each year. All expenses for the organization totaled $10.3m during the year ending 06/2020. 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
ENTERTAIN, ENGAGE AND INSPIRE THROUGH THE HIGHEST QUALITY PROFESSIONAL REPERTORY THEATRE AND SUPERIOR EDUCATIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASOLO REPERTORY'S RESIDENT SEASON CREATES A CENTER FOR THEATRICAL EXCELLENCE FOR A LOCAL, REGIONAL AND NATIONAL COMMUNITY. FROM CLASSICS TO CONTEMPORARY DRAMAS TO BROADWAY-BOUND MUSICALS AND NEWLY COMMISSIONED WORK, ALL PERFORMED IN THE RAREST FORM OF ROTATING REPERTORY. ASOLO REP IS A THEATRE DISTRICT IN ITSELF. EACH SEASON, ASOLO REP MOUNTS UP TO TEN PRODUCTIONS AND TWO HUNDRED FIFTY PERFORMANCES ON TWO STAGES, FOR MORE THAN EIGHTY THOUSAND PEOPLE ANNUALLY.
THE FSU/ASOLO CONSERVATORY FOR ACTOR TRAINING IS A RIGOROUS THREE-YEAR M.F.A GRADUATE PROGRAM CONNECTED TO ASOLO REPERTORY. IT IS RANKED IN THE TOP TEN ACTOR TRAINING PROGRAMS BY THE NEW YORK TIMES. MORE THAN TWO THOUSAND AUDITION ANNUALLY FOR A MERE TWELVE SLOTS.
THE SCENE AND COSTUME SHOPS CREATE PHYSICAL ELEMENTS FOR THE PRODUCTIONS AND CONTRIBUTE TO THE QUALITY PROFESSIONAL THEATRICAL EXPERIENCE FOR ASOLO REPERTORY, THE FSU/ASOLO CONSERVATORY FOR ACTOR TRAINING AND OTHERS, SUCH AS THE TAMPA BAY PERFORMING ARTS CENTER AND THE SARASOTA OPERA.
ASOLO REPERTORY'S RESIDENT SEASON CREATES A CENTER FOR THEATRICAL EXCELLENCE FOR A LOCAL, REGIONAL AND NATIONAL COMMUNITY. FROM CLASSICS TO CONTEMPORARY DRAMAS TO BROADWAY-BOUND MUSICALS AND NEWLY COMMISSIONED WORK, ALL PERFORMED IN THE RAREST FORM OF ROTATING REPERTORY. ASOLO REP IS A THEATRE DISTRICT IN ITSELF. EACH SEASON, ASOLO REP MOUNTS UP TO TEN PRODUCTIONS AND TWO HUNDRED FIFTY PERFORMANCES ON TWO STAGES, FOR MORE THAN EIGHTY THOUSAND PEOPLE ANNUALLY.
THE FSU/ASOLO CONSERVATORY FOR ACTOR TRAINING IS A RIGOROUS THREE-YEAR M.F.A GRADUATE PROGRAM CONNECTED TO ASOLO REPERTORY. IT IS RANKED IN THE TOP TEN ACTOR TRAINING PROGRAMS BY THE NEW YORK TIMES. MORE THAN TWO THOUSAND AUDITION ANNUALLY FOR A MERE TWELVE SLOTS.
THE SCENE AND COSTUME SHOPS CREATE PHYSICAL ELEMENTS FOR THE PRODUCTIONS AND CONTRIBUTE TO THE QUALITY PROFESSIONAL THEATRICAL EXPERIENCE FOR ASOLO REPERTORY, THE FSU/ASOLO CONSERVATORY FOR ACTOR TRAINING AND OTHERS, SUCH AS THE TAMPA BAY PERFORMING ARTS CENTER AND THE SARASOTA OPERA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Edwards Producing Artistic Directo | Officer | 40 | $261,058 |
Linda Digabriele Managing Director | Officer | 40 | $224,786 |
Benjamin Luczak Development Director | 40 | $109,085 | |
Judith Moessner Lambert Marketing Director Thru March 2021 | 40 | $100,546 | |
Victor Meyrich Dir. Of Production / Opera | 40 | $100,546 | |
Gigi Huberman Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fsu Research Foundation Fsu Student Stipends | 6/29/21 | $332,758 |
Pj Hayes Inc Dba Tandem Constructi Expansion Construction | 6/29/21 | $230,985 |
Pj Hayes Inc Dba Tandem Constructi Expansion Construction | 6/29/21 | $230,985 |
Orlando Event Productions Llc Gala Production | 6/29/21 | $115,202 |
Fsu Research Foundation Fsu Student Stipends | 6/29/21 | $332,758 |
Orlando Event Productions Llc Gala Production | 6/29/21 | $115,202 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,247,843 |
| Investment income | $690,197 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $550,973 |
| Net Income from Fundraising Events | -$132,307 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $10,493 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,173,577 |
| 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. | $590,275 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,873,717 |
| Pension plan accruals and contributions | $75,480 |
| Other employee benefits | $961,030 |
| Payroll taxes | $390,920 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,150 |
| Fees for services: Accounting | $29,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $79,704 |
| Fees for services: Other | $25,184 |
| Advertising and promotion | $390,494 |
| Office expenses | $174,413 |
| Information technology | $0 |
| Royalties | $349,127 |
| Occupancy | $138,040 |
| Travel | $137,701 |
| 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 | $573,905 |
| Insurance | $100,125 |
| All other expenses | $0 |
| Total functional expenses | $10,345,101 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,357 |
| Savings and temporary cash investments | $9,435,547 |
| Pledges and grants receivable | $771,104 |
| Accounts receivable, net | $10,488 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,882 |
| Prepaid expenses and deferred charges | $660,379 |
| Investments—publicly traded securities | $17,850,370 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,785,889 |
| Total assets | $39,065,744 |
| Accounts payable and accrued expenses | $450,753 |
| Grants payable | $0 |
| Deferred revenue | $3,243,351 |
| 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 | $1,109,000 |
| Other liabilities | $1,900,001 |
| Total liabilities | $6,703,105 |
| 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 | $32,362,639 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Asolo Theater Inc has recieved totaling $1,161,161.
| Awarding Organization | Amount |
|---|---|
Gulf Coast Community Foundation Inc Venice, FL PURPOSE: ARTS & CULTURE | $444,992 |
Community Foundation Of Sarasota County Inc Sarasota, FL PURPOSE: CAPITAL PURCHASES, GENERAL SUPPORT, PROGRAM SUPPORT | $211,863 |
Roy Cockrum Foundation Wilmington, DE PURPOSE: ADDITIONAL FUNDING FOR THE PRODUCTION OF KNOXVILLE | $196,142 |
Womans Exchange Inc Of Sarasota Sarasota, FL | | $110,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $107,500 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $40,150 |
Endowment Analysis
| Beg. Balance | $18,635,394 |
| Earnings | $3,139,430 |
| Net Contributions | $3,304,997 |
| Other Expense | $766,067 |
| Ending Balance | $24,313,754 |
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 |