Vortex Inc
- Assets
- $652.6k
- Revenue
- $144.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Albuquerque, NM
- Founding
- 09/1978
- Data as of
- 10/2023
- EIN
- 85-0263324
Organization Overview
Vortex Inc, operating under the name The Vortex Theatre, is located in Albuquerque, NM. The organization was established in 1978. 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 10/2023, Vortex Theatre employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vortex Theatre 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 10/2023, Vortex Theatre generated $144.6k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $220.6k during the year ending 10/2023. 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
PRODUCE QUALITY THEATER, TRAIN INDIVIDUALS ENHANCE CULTURAL LIFE OF LOCAL POPULATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VORTEX INC. PROVIDES EDUCATION AND LOW-COST THEATRE EXPOSURE TO THE LOCAL ALBUQUERQUE, NM MARKET. THE ORGANIZATION PROVIDES INTERNALLY DEVELOPED EDUCATION FREE OF CHARGE O LEARNERS, PARTNERS WITH THE PUBLIC SCHOOL SYSTEM, THE SENIOR CARE SYSTEM AND OTHER ORGANIZATIONS TO INVITE UNDERSERVED COMMUNITIES INTO THEATER AND THEATER EDUCATION.
THE ORGANIZATION IS VOLUNTEER BASED AND ENGAGES WITH UPWARD OF 1500 VOLUNTEERS PER YEAR TO PROVIDE SERVICES TO THE COMMUNITY. IN TURN, THE ORGANIZATION PROVIDES FREE OR LOW-COST THEATER EXPERIENCES TO APPROXIMATELY 12,000 PERSONS PER YEAR, MANY OF WHOM ARE GIVEN FREE ADMISSION IN OUR FULFILLMENT OF OUR MISSION TO SERVE OTHERWISE UNDERSERVED COMMUNITY MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dachary Vann President | OfficerTrustee | 20 | $0 |
Rayray Griego Vice President | OfficerTrustee | 20 | $0 |
Laura Hall Secretary | OfficerTrustee | 20 | $0 |
Matt Gogel Treasurer | OfficerTrustee | 15 | $0 |
Erin Hulse Executive Committee Member At Large | OfficerTrustee | 15 | $0 |
Bridget Dunne Board Member | OfficerTrustee | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $15,995 |
| All other contributions, gifts, grants, and similar amounts not included above | $45,509 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $61,504 |
| Total Program Service Revenue | $82,880 |
| Investment income | $236 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $144,620 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $400 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,484 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,321 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,404 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,233 |
| Office expenses | $1,943 |
| Information technology | $0 |
| Royalties | $14,927 |
| Occupancy | $34,584 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,640 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,794 |
| Insurance | $1,346 |
| All other expenses | $0 |
| Total functional expenses | $220,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,154 |
| Savings and temporary cash investments | $33,286 |
| 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 | $0 |
| Net Land, buildings, and equipment | $561,643 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,500 |
| Total assets | $652,583 |
| Accounts payable and accrued expenses | $553 |
| Grants payable | $0 |
| Deferred revenue | $2,041 |
| 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 | $369,220 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,644 |
| Total liabilities | $376,458 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $276,125 |
| Total liabilities and net assets/fund balances | $652,583 |