Venice Theatre Inc
- Assets
- $6.8m
- Revenue
- $2.3m
- Investments
- $1.0m
- Employees
- 32
- Location
- Venice, FL
- Founding
- 06/1964
- Data as of
- 06/2021
- EIN
- 59-6005807
Organization Overview
Venice Theatre Inc is located in Venice, FL. The organization was established in 1964. 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 06/2023, Venice Theatre Inc employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Venice 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 06/2021, Venice Theatre Inc generated $2.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (13.0%) each year. All expenses for the organization totaled $2.3m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (14.7%) per year over the past 3 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THEATRE ARTS EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTION OF SEASONAL THEATRICAL PRODUCTIONS USING UNPAID VOLUNTEERS & STUDENTS TO BENEFIT THE COMMUNITY, SCHOOLS, & RETIREMENT COMMUNITIES VIA THEATRE, MUSIC, DANCE & EDUCATIONAL PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gar Reese Director | Trustee | 2 | $0 |
Kristofer Geddie Executive Dir. | Trustee | 50 | $0 |
Lynn Crandall Treasurer | Officer | 5 | $0 |
Carroll Hunter Secretary | Officer | 5 | $0 |
Jean Trammell President | Officer | 5 | $0 |
Murray Chase Executive Director | 50 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,124,204 |
| Investment income | $8,280 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$1,583 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,252,953 |
| 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. | $96,106 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $962,240 |
| Pension plan accruals and contributions | $7,600 |
| Other employee benefits | $400,116 |
| Payroll taxes | $79,395 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,637 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,896 |
| Advertising and promotion | $49,062 |
| Office expenses | $17,598 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $147,561 |
| Travel | $2,066 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $93,549 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $150,158 |
| Insurance | $70,003 |
| All other expenses | $0 |
| Total functional expenses | $2,304,197 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $273,072 |
| Savings and temporary cash investments | $1,094,035 |
| Pledges and grants receivable | $286,746 |
| Accounts receivable, net | $76,536 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,724 |
| Prepaid expenses and deferred charges | $128,463 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,047,174 |
| Investments—program-related | $0 |
| Intangible assets | $32,432 |
| Other assets | $106,894 |
| Total assets | $6,763,842 |
| Accounts payable and accrued expenses | $58,618 |
| Grants payable | $0 |
| Deferred revenue | $868,573 |
| 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 | $1,950,000 |
| Unsecured mortgages and notes payable | $342,048 |
| Other liabilities | $0 |
| Total liabilities | $3,219,239 |
| 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 | $3,544,603 |