Studio Acting Conservatory Inc
- Assets
- $4.2m
- Revenue
- $570.3k
- Investments
- $370.0k
- Employees
- 4
- Location
- Washington, DC
- Founding
- 05/2019
- Data as of
- 08/2023
- EIN
- 83-2635517
Organization Overview
Studio Acting Conservatory Inc is located in Washington, DC. The organization was established in 2019. 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 08/2023, Studio Acting Conservatory Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Studio Acting Conservatory 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 08/2023, Studio Acting Conservatory Inc generated $570.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (25.8%) each year. All expenses for the organization totaled $532.7k during the year ending 08/2023. 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
SEE NOTE
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDIO ACTING CONSERVATORY IS THE PREMIER TRAINING INSTITUTION FOR ACTORS AND DIRECTORS IN WASHINGTON D.C. FOR OVER 50 YEARS, OVER 12,000 ALUMNI HAVE GONE ON TO IMPORTANT THEATER AND FILM CAREERS. THE CONSERVATORY IS LED BY A 20-MEMBER FACULTY OF COMMITTED PROFESSIONALS WHO TEACH 500 CLASS SLOTS TO STUDENTS OF EVERY AGE AND BACKGROUND. EACH YEAR. THE CONSERVATORY ALSO SERVES DISADVANTAGED DC COMMUNITIES THROUGH A SCHOLARSHIP PROGRAM THAT PROVIDES TRAINING FOR YOUNG PEOPLE WITH HALF OF THE CLASS PLACES OFFERED ON A FULL SCHOLARSHIP, AND, SCHOLARSHIP AND WORK-STUDY OPPORTUNITIES FOR ADULT STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Pitt Chair | OfficerTrustee | 5 | $0 |
Meredith Garagiola Board Vice Chair | OfficerTrustee | 5 | $0 |
Joy Zinoman Board Member | Trustee | 2 | $26,561 |
Serge Seiden Board Member | Trustee | 2 | $6,042 |
Kate Debelack Board Member | Trustee | 2 | $6,502 |
Solomon Haileselassie Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $148,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $249,105 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $397,105 |
| Total Program Service Revenue | $151,069 |
| Investment income | $18,033 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,950 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $570,307 |
| 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. | $130,847 |
| Compensation of current officers, directors, key employees. | $37,946 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,865 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,306 |
| Payroll taxes | $14,554 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,953 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $121,839 |
| Advertising and promotion | $35,750 |
| Office expenses | $14,531 |
| Information technology | $12,083 |
| Royalties | $0 |
| Occupancy | $31,376 |
| Travel | $0 |
| 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 | $72,726 |
| Insurance | $5,673 |
| All other expenses | $89 |
| Total functional expenses | $532,746 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $680,423 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,090 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,100,351 |
| Investments—publicly traded securities | $5,891 |
| Investments—other securities | $370,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,161,755 |
| Accounts payable and accrued expenses | $12,254 |
| Grants payable | $0 |
| Deferred revenue | $95,104 |
| 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 | $0 |
| Total liabilities | $107,358 |
| Net assets without donor restrictions | $4,019,397 |
| Net assets with donor restrictions | $35,000 |
| 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 | $4,161,755 |