Tower Theatre Foundation Inc
- Assets
- $3.4m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 39
- Location
- Bend, OR
- Founding
- 01/1998
- Data as of
- 06/2022
- EIN
- 91-1829147
Organization Overview
Tower Theatre Foundation Inc is located in Bend, OR. The organization was established in 1998. 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 06/2022, Tower Theatre Foundation Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tower Theatre Foundation 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 06/2022, Tower Theatre Foundation Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $1.8m during the year ending 06/2022. While expenses have increased by 2.7% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BE CENTRAL OREGON'S LEADING PERFORMING ARTS ORGANIZATION, PROVIDING CULTURAL & EDUCATION PROGRAMS THAT MAKE ESSENTIAL CONTRIBUTIONS TO THE REGION'S LIFESTYLE & STRENGTH OF COMMUNITY BY PROVIDING AN EXTRAORDINARY SPACE FOR PERFORMANCES, EDUCATION, CIVIC GATHERINGS & SOCIAL EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE THEATRE WAS UTILIZED FOR A WIDE VARIETY OF CULTURAL EVENTS DURING THE YEAR. 5% OF THE THEATRE'S LICENSEES WERE NONPROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ray Solley Executive Director | Officer | 40 | $103,936 |
Richard Gallio Secretary | OfficerTrustee | 1 | $0 |
Anthony Albertazzi Chair | OfficerTrustee | 1 | $0 |
Beverley Maul Vice Chair | OfficerTrustee | 1 | $0 |
Doug Oas Treasurer | OfficerTrustee | 1 | $0 |
Eric Lowery-North Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $174,277 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $135,976 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,124,950 |
| Noncash contributions included in lines 1a–1f | $1,148 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,435,203 |
| Total Program Service Revenue | $1,038,339 |
| Investment income | $145 |
| 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 | $2,473,687 |
| 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. | $103,936 |
| Compensation of current officers, directors, key employees. | $17,461 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $634,108 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $55,035 |
| Fees for services: Management | $8,164 |
| Fees for services: Legal | $830 |
| Fees for services: Accounting | $28,352 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $49,376 |
| Office expenses | $5,378 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,682 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $52 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $105,194 |
| Insurance | $20,708 |
| All other expenses | $88,680 |
| Total functional expenses | $1,843,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,200 |
| Savings and temporary cash investments | $1,154,554 |
| Pledges and grants receivable | $110,251 |
| 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 | $8,180 |
| Net Land, buildings, and equipment | $2,173,225 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,447,410 |
| Accounts payable and accrued expenses | $107,603 |
| Grants payable | $0 |
| Deferred revenue | $163,340 |
| 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 | $176,250 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $447,193 |
| Net assets without donor restrictions | $3,000,217 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $3,447,410 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tower Theatre Foundation Inc has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Bjb Charitable Account Boulder, CO PURPOSE: GENERAL FUND | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oregon Shakespeare Festival Association Ashland, OR | $57,188,884 | $18,740,778 |
Old Globe Theatre San Diego, CA | $79,168,056 | $16,473,770 |
Geffen Playhouse Inc Los Angeles, CA | $33,029,635 | $21,063,113 |
Center Theatre Group Of Los Angeles Los Angeles, CA | $93,308,392 | $15,777,431 |
Theatre & Arts Foundation Of San Diego County La Jolla, CA | $96,134,792 | $15,790,250 |
Berkeley Repertory Theatre Berkeley, CA | $78,284,133 | $11,370,014 |
Theatreworks Silicon Valley Redwood City, CA | $8,373,819 | $8,187,041 |
South Coast Repertory Inc Costa Mesa, CA | $83,774,342 | $5,710,509 |
Seattle Repertory Theatre Seattle, WA | $11,018,492 | $11,241,562 |
Village Theatre Issaquah, WA | $23,494,101 | $8,767,180 |
A Contemporary Theatre Inc Seattle, WA | $4,152,223 | $6,596,754 |
Theatre For Children Inc Sacramento, CA | $27,810,781 | $2,930,921 |