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Odeum Corporation FY2020 filing

Tax-deductible

E Greenwich, RI501(c)(3)Arts & CultureEIN 22-3115053Revenue $578K in FY2020

On file with the IRSgreenwichodeum.com59 Main St, 02818-3806 · E Greenwich, RITax-exempt since Dec 1991Publicly supported — 509(a)(2)

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To develop and operate a cultural center for the arts which features resident and touring professionals, educational programs in the arts, and local amateur talent, by maintaining a historically significant theater.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $30K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $39
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$710K
28% of total assets
Looks good: liabilities are 28% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$578K
Spent
$478K
To programs
79%
Net assets
$1.8M
By yearFY2020–FY2024
Revenue
$578K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$578K
FY2021$965K
FY2022$1.3M
FY2023$1.5M
FY2024$1.7M
Expenses
$478K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$478K
FY2021$682K
FY2022$1.4M
FY2023$1.6M
FY2024$1.7M
Net assets
$1.8M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.8M
FY2021$2.1M
FY2022$2.0M
FY2023$1.9M
FY2024$1.9M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1991.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $377K Management & general 17% · $82K Fundraising 4% · $19K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990.

Part VII, Section A · reportable compensation
Dan Speca
President
$0Pt VII · Sec A
Terry Shea
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Steven Feinberg
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Darren Hill
Director
$0Pt VII · Sec A
Joe Madden
Director
$0Pt VII · Sec A
Kevin Muoio
Director
$0Pt VII · Sec A
See Odeum Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Operates a cultural center showcasing professional and amateur arts, offering educational programs within a historic theater.

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Provided by the organization

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1 program · $377K · in their own filed words · FY2020
01

Organization provides theater space in the historic district of east greenwich ri. The 420-SEAT theater, built in 1926, plays host to a wide-array of entertainment for all age groups, such as concerts, comedy shows, theaterical productions, movies, and other community-driven events.

$377Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Amazonsmile FoundationFY2023$39
Total grants receivedfrom 1 funder$39

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$578K
Ln 12
Gifts and grantsLn 1h$369K
Fees for servicesLn 2g$195K
Other incomeLn 4–11$14K
Money outPt IX
$478K
Ln 25
Programscol B$377K
Managementcol C$82K
Fundraisingcol D$19K
Owns and owesPt X
$1.8M
net assets · Ln 32
Cash and savingsLn 1–2$231K
Total assetsLn 16$2.6M
LiabilitiesLn 26$710K
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$369K
Fees for servicesLn 2g$195K
Investment incomeLn 3$84
Other incomeLn 4–11$14K
Total revenueLn 12$578K
Assets in detailPt X, end of year
CashLn 1$187K
SavingsLn 2$44K
Cash and savings togetherLn 1–2$231K
Land, buildings, equipmentLn 10c$2.3M
Total assetsLn 16$2.6M
LiabilitiesLn 26$710K
Net assetsLn 32$1.8M
OperationsPt I, VI
EmployeesI 514
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$205K$231K
Land, buildings, equipmentLn 10c$2.0M$2.3M
Total assetsLn 16$2.5M$2.6M
LiabilitiesLn 26$719K$710K
Net assetsLn 32$1.7M$1.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$125K$73K$35K$17K
Payroll taxesLn 10$11K$6K$3K$1K
Accounting feesLn 11c$13K$13K
Advertising and promotionLn 12$24K$24K
Office expensesLn 13$3K$3K
Information technologyLn 14$3K$3K
OccupancyLn 16$18K$18K
TravelLn 17$12$12
InterestLn 20$15K$15K
Depreciation, depletion and amortizationLn 22$75K$75K$529
InsuranceLn 23$20K$17K$3K
Other expenses (24a–d)Ln 24$143K$143K
All other expensesLn 24e$28K$22K$6K
Total functional expensesLn 25$478K$377K$82K$19K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.7M$1.7M−$72K$1.9M 990 PDF
FY2023 $1.5M$1.6M−$64K$1.9M 990 PDF
FY2022 $1.3M$1.4M−$96K$2.0M 990 PDF
FY2021 $965K$682K$283K$2.1M 990 PDF
FY2020 Viewing $578K$478K$101K$1.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $578,432 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $305,072$368,547
I-9 Program service revenuePrior year $861,346$195,490
I-10 Investment incomePrior year $2,480$84
I-11 Other revenuePrior year $56,903$14,311
I-12 Total revenuePrior year $1,225,801$578,432
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $151,309$135,063
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $994,616$342,462
I-18 Total expensesPrior year $1,145,925$477,525
I-19 Revenue less expensesPrior year $79,876$100,907
Part VI · Governance 15 of 15 board members independent, 2 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $578,432 across 6 lines filed
Lines not itemized here account for $12,901 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$368,547
VIII-1h Total contributions, gifts and grants$368,547
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $195,490$195,490
VIII-3 Investment incomeRelated to mission $84$84
VIII-8 Net income from fundraising eventsExcluded from tax $1,410$1,410
VIII-12 Total revenueRelated to mission $208,475 · Unrelated business $0 · Excluded from tax $1,410$578,432
Part IX · Statement of functional expenses $477,525 across 13 lines filed
IX-7 Other salaries and wagesPrograms $72,781 · Management $34,654 · Fundraising $17,085$124,520
IX-10 Payroll taxesPrograms $6,178 · Management $2,932 · Fundraising $1,433$10,543
IX-11c Accounting feesManagement $13,477$13,477
IX-12 Advertising and promotionPrograms $23,544$23,544
IX-13 Office expensesManagement $2,998$2,998
IX-14 Information technologyManagement $2,568$2,568
IX-16 OccupancyPrograms $18,324$18,324
IX-17 TravelManagement $12$12
IX-20 InterestManagement $15,335$15,335
IX-22 Depreciation, depletion and amortizationPrograms $74,889 · Management $529$75,418
IX-23 InsurancePrograms $16,764 · Management $2,804$19,568
IX-24 Other expenses (24a–d)Programs $142,791$142,791
IX-24e All other expensesPrograms $21,990 · Management $6,437$28,427
IX-25 Total functional expensesPrograms $377,261 · Management $81,746 · Fundraising $18,518$477,525
Part X · Balance sheet $2,555,106 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $29,254$186,935
X-2 Savings and temporary cash investmentsStart of year $176,109$44,421
X-3 Pledges and grants receivableStart of year $98,344$26,500
X-4 Accounts receivableStart of year $111,515$16,740
X-9 Prepaid expenses and deferred charges$5,360
X-10c Land, buildings and equipment, netStart of year $2,041,665$2,271,568
X-14 Intangible assets$3,582
X-16 Total assetsStart of year $2,456,887$2,555,106
X-17 Accounts payable and accrued expensesStart of year $331,108$5,096
X-19 Deferred revenueStart of year $132,703$293,372
X-25 Other liabilitiesStart of year $8,824$20,582
X-26 Total liabilitiesStart of year $719,491$710,134
X-27 Net assets without donor restrictionsStart of year $1,537,396$1,844,972
X-28 Net assets with donor restrictionsStart of year $200,000$0
X-32 Total net assets or fund balancesStart of year $1,737,396$1,844,972
X-33 Total liabilities and net assetsStart of year $2,456,887$2,555,106
Part XI · Reconciliation of net assets $1,844,972 net assets at year end
XI-1 Total revenue$578,432
XI-2 Total expenses$477,525
XI-3 Revenue less expenses$100,907
XI-4 Net assets at start of year$1,737,396
XI-8 Prior period adjustments$6,667
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,844,972

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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