Historic Tennessee Theatre Foundation
- Assets
- $41.3m
- Revenue
- $18.0m
- Investments
- $0.0
- Employees
- 27
- Location
- Knoxville, TN
- Founding
- 10/1996
- Data as of
- 12/2023
- EIN
- 62-1651302
Organization Overview
Historic Tennessee Theatre Foundation is located in Knoxville, TN. The organization was established in 1996. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Historic Tennessee Theatre Foundation employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Historic Tennessee Theatre Foundation 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 12/2023, Historic Tennessee Theatre Foundation generated $18.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $15.5m during the year ending 12/2023. While expenses have increased by 11.4% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO HOLD, MAINTAIN, RENOVATE AND IMPROVE CERTAIN REAL PROPERTY KNOWN AS THE HISTORIC TENNESSEE THEATRE LOCATED IN KNOXVILLE TENNESSEE, IN ORDER TO PROVIDE A PERFORMING ARTS VENUE FOR THE COMMUNITY AND OTHER ENTITIES FOR HISTORIC AND EDUCATIONAL ACTIVITIES; TO PRESERVE AND RESTORE THE HISTORIC TENNESSEE THEATRE AS A HISTORICAL LANDMARK; AND TO PROVIDE THE GENERAL PUBLIC WITH A GREATER AWARENESS, APPRECIATION AND UNDERSTANDING OF THE THEATRICAL PERFORMING ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF PERFORMING ARTS ORGANIZATIONS AND OTHER INSTITUTIONS FOR ACTIVITIES INVOLVING EDUCATION AND RELIGION.
OPERATION OF HISTORICAL THEATRE TO PROVIDE A FACILITY FOR ORGANIZATIONS AND ACTIVITIES INVOLVING THE PERFORMING ARTS, EDUCATION AND RELIGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Becky Hancock Exec. Direct | Officer | 40 | $178,162 |
Ed Rottmann President | Trustee | 1 | $0 |
Orlando Diaz Vice Preside | OfficerTrustee | 1 | $0 |
Rick Blackburn Secretary | OfficerTrustee | 1 | $0 |
Jody Zahn Director | Trustee | 1 | $0 |
Sandi Swilley Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,625,407 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,345,268 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,970,675 |
| Total Program Service Revenue | $13,543,122 |
| Investment income | $440,853 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $405,893 |
| 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 | $620,260 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,045,140 |
| 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. | $178,162 |
| Compensation of current officers, directors, key employees. | $44,540 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,155,945 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $166,409 |
| Payroll taxes | $100,188 |
| Fees for services: Management | $2,005,547 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $93,242 |
| Advertising and promotion | $887,564 |
| Office expenses | $46,264 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $214,380 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,547 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $788,482 |
| Insurance | $107,300 |
| All other expenses | $1,566,108 |
| Total functional expenses | $15,532,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,844,107 |
| Savings and temporary cash investments | $4,342,514 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $903,442 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $54,017 |
| Prepaid expenses and deferred charges | $98,304 |
| Net Land, buildings, and equipment | $22,014,305 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,256,689 |
| Accounts payable and accrued expenses | $2,050,302 |
| Grants payable | $0 |
| Deferred revenue | $5,047,293 |
| 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 | $6,650 |
| Total liabilities | $7,104,245 |
| Net assets without donor restrictions | $34,002,467 |
| Net assets with donor restrictions | $149,977 |
| 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 | $41,256,689 |