Theater Wit Nfp EIN 03-0521755

Theater Wit Nfp

EIN  03-0521755 Public charity (501(c)(3)) Chicago, IL
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Size
$100K–1M
What they do
Produces live shows to entertain and educate the public.
Leadership
Jeremy Wechsler · Artistic Director · $47K
Money in and out
$978K revenue, $937K expenses
Bottom line
81% program efficiency

Produces live shows to entertain and educate the public. For fiscal year 2024 it reported $978K in revenue, $937K in expenses, and $-47K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$978K
Pt VIII · Ln 12
Total expenses
$937K
Pt IX · Ln 25
Net assets
$-47K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $41K
Where spending went · Part IX cols B–D
Program services $0.81 Management & general $0.14 Fundraising $0.05
Program efficiency
81%
of spending reaches programs▲ +1% vs prior filing year
Operating runway
1.8mo
months of highly liquid reserves at operating expense rate▲ +500% vs prior filing year
Surplus margin
+4%
revenue over expenses, this year▲ +126% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$978K
FY2024▲ +5%
Expenses
$937K
FY2024▼ -13%
Total assets
$482K
FY2024▲ +27%
Total liabilities
$529K
FY2024▲ +13%
Total revenue
$978K
Pt VIII · Ln 12
Total expenses
$937K
Pt IX · Ln 25
Net assets
$-47K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$41K
Total assetsPt X · Ln 16$482K
Program-expense ratioPt IX · col B81%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

1 program service account for $756K of program spending, described in the organization's own filed words · FY2024.
01

To bring live theater to the chicago area with at least one performance per YEAR.THREE theater spaces provide affordable and well-equipped theatrical space for non-profit organizations and community groups.

$756Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CTheater Wit Nfp
EINHdr · item D03-0521755
Principal addressHdr · item CChicago, IL
WebsiteHdr · item Jwww.theaterwit.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A65)
Ruling yearIRS BMFApr 2004

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Artistic Director
$47,027Pt VII · Sec A
Company Manager
$47,027Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Jeremy Wechsler’s $47K as Artistic Director is at the 41st percentile of top reported officer pay among 2212 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jeremy Wechsler$47,027$43,877$40,800$18,831$21,969
David Wechsler$47,027$43,877$40,800$18,831$21,185

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$558K · 57%
Program service revenue$420K · 43%
Contributions & grants57%$558K
Program service revenue43%$420K
Investment income$2
— government grantsLn 1e$65K
Total revenueLn 12$978K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.81 Management & general $0.14 Fundraising $0.05
Program services81%$756K
Management & general14%$133K
Fundraising5%$48K
Total functional expensesLn 25$937K

Balance Sheet

Part X · end of year
CashLn 1$142K
Total assetsLn 16$482K
Total liabilitiesLn 26$529K
Total net assetsLn 32$-47K
Months of cash on handcomputed1.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $142K · Operating expenses/yr $937K
1.8 months
Where the money goes
Program services
Program services $756K · Total expenses $937K
81%
Management & General
Management & general $133K · Total expenses $937K
14%
Fundraising
Fundraising $48K · Total expenses $937K
5%
Cost to raise $1
Fundraising expense (3-yr avg) $36K · Solicited contributions (3-yr avg) $405K
$0.09 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $558K · Total revenue $978K
57%
Government reliance
Government grants $65K · Total revenue $978K
7%
Earned-income share
Program service revenue $420K · Total revenue $978K
43%
Investment reliance
Investment income $2 · Total revenue $978K
0%
Program self-sufficiency
Program service revenue $420K · Total expenses $937K
45%
Growth & trend
Revenue growth (YoY)
This year $978K · Prior year $927K
+5%
Revenue CAGR
FY2020 $502K · FY2024 $978K
+18%
Net-asset trend (YoY)
End of year $-47K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $978K · Expenses $937K
+4%
Liabilities-to-Assets
Total liabilities — · Total assets $482K
Net-asset ratio
Net assets $-47K · Total assets $482K
-10%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $482K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jeremy Wechsler · Reported title ARTISTIC DIRECTOR · Highest reported compensation $47K · Total expenses $937K
5%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $425K · Total expenses $937K
45%
Fundraising vendors
Fundraiser cost ratio
Paid to fundraisers $23K · Gross raised $543K
4%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 81%
Overhead ratio 14%
Fundraising cost ratio 9%
Revenue growth 5%
Accounting fee ratio 1%
Fundraising fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$27K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$978K revenue · viewing · ⤓ 990 PDF
FY2023$927K revenue · ⤓ 990 PDF
FY2022$851K revenue · ⤓ 990 PDF
FY2021$702K revenue · ⤓ 990 PDF
FY2020$502K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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