Variations Theatre Group INC

Tax-deductible

New York, NY501(c)(3)Arts & CultureEIN 27-2241279Revenue $725K in FY2024

On file with the IRSchaintheatre.org312 W 36th St 4th Floor, 10018-6436 · New York, NYTax-exempt since Sep 2010Publicly supported charity — 170(b)(1)(A)(vi)

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Variations Theatre Group dba Chain Theatre creates artistic work that invokes a visceral response through the media of theatre and film. We provide opportunities for New York based artists through productions and providing our spaces to other small theatre companies.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Run by 50 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2024 · 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 4
filings with a surplus
Average surplus $23K a year · 4% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$36K
to officers and key staff · 5% of spending
Top officer’s pay lower than 69% of similar orgs
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.1M
97% of total assets
Concern: liabilities are 97% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$725K
-2% vs prior year
Spent
$727K
To programs
90%
Net assets
$64K
By yearFY2020–FY2024
Revenue
$725K
FY2024▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2020$130K
FY2021$269K
FY2022$582K
FY2023$742K
FY2024$725K
Expenses
$727K
FY2024▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$216K
FY2022$599K
FY2023$686K
FY2024$727K
Net assets
$64K
FY2024▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020−$44K
FY2021$27K
FY2022$10K
FY2023$65K
FY2024$64K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2010.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $652K Management & general 10% · $72K Fundraising 0% · $2K

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

5 people listed on the 990; $36K paid to officers and key staff.

Part VII, Section A · reportable compensation
President of the Board
$36,400Pt VII · Sec A
Member at Large
$0Pt VII · Sec A
Member at Large
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Kirk Gostkowski’s $36K as President of the Board is at the 31st percentile of top reported officer pay among 2215 $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 · 1 named individual · Part VII

NameFY2024FY2023FY2022
Kirk Gostkowski$36,400$33,600$31,200

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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Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Produces visceral theatre and film, offering New York artists production and space opportunities.

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Provided by the organization

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1 program · $652K · in their own filed words · FY2024
01

The Chain Theatre provides opportunities for New York-based artists to experience challenging subject matters and universal themes through productions, festivals and providing their theatres and rehearsal spaces to other small theatre companies. Chain provides low cost and free programming throughout their season.

$652Kprogram 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 · FY2024
Total grants receivedfrom 1 funder$15K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$725K
Ln 12
Fees for servicesLn 2g$545K
Gifts and grantsLn 1h$180K
Other incomeLn 4–11$420
Money outPt IX
$727K
Ln 25
Programscol B$652K
Managementcol C$72K
Fundraisingcol D$2K
Owns and owesPt X
$64K
net assets · Ln 32
Cash and savingsLn 1–2$393K
Total assetsLn 16$2.2M
LiabilitiesLn 26$2.1M
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$180K
Government grantsLn 1e$86K
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$545K
Other incomeLn 4–11$420
Total revenueLn 12$725K
Assets in detailPt X, end of year
CashLn 1$393K
Cash and savings togetherLn 1–2$393K
Land, buildings, equipmentLn 10c$38K
Other assetsLn 15$1.7M
Total assetsLn 16$2.2M
LiabilitiesLn 26$2.1M
Net assetsLn 32$64K
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$352K$393K
Land, buildings, equipmentLn 10c$53K$38K
Total assetsLn 16$2.5M$2.2M
LiabilitiesLn 26$2.4M$2.1M
Net assetsLn 32$65K$64K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$36K$27K$9K$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$110K$82K$27K$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$3K$3K$0$0
Payroll taxesLn 10$11K$8K$3K$0
Accounting feesLn 11c$3K$0$3K$0
Professional fundraising feesLn 11e$2K$2K
Other fees for servicesLn 11g$51K$51K$0$0
Advertising and promotionLn 12$15K$15K$0$0
Office expensesLn 13$721$0$721$0
Information technologyLn 14$13K$0$13K$0
RoyaltiesLn 15$3K$3K$0$0
OccupancyLn 16$403K$403K$0$0
TravelLn 17$8K$8K$0$0
InterestLn 20$2K$0$2K$0
Depreciation, depletion and amortizationLn 22$15K$15K
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$36K$36K$0$0
All other expensesLn 24e$0
Total functional expensesLn 25$727K$652K$72K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $725K$727K−$2K$64K 990 PDF
FY2023 $742K$686K$56K$65K 990 PDF
FY2022 $582K$599K−$17K$10K 990 PDF
FY2021 $269K$216K$54K$27K 990 PDF
FY2020 $130K−$44K 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 FY2024 990 (6 parts)
Part I · Summary $724,886 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $190,315$179,928
I-9 Program service revenuePrior year $551,267$544,538
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$420
I-12 Total revenuePrior year $741,582$724,886
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 $93,442$160,667
I-16a Professional fundraising feesPrior year $0$2,500
I-17 Other expensesPrior year $592,370$563,545
I-18 Total expensesPrior year $685,812$726,712
I-19 Revenue less expensesPrior year $55,770−$1,826
Part VI · Governance 4 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $724,886 across 13 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$86,205
VIII-1f All other contributions, gifts and grants$93,723
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$179,928
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $544,538 · Unrelated business $0 · Excluded from tax $0$544,538
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-5 RoyaltiesRelated to mission $170 · Unrelated business $0 · Excluded from tax $0$170
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $250 · Unrelated business $0 · Excluded from tax $0$250
VIII-12 Total revenueRelated to mission $544,958 · Unrelated business $0 · Excluded from tax $0$724,886
Part IX · Statement of functional expenses $726,712 across 24 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $27,300 · Management $9,100 · Fundraising $0$36,400
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $82,468 · Management $27,490 · Fundraising $0$109,958
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $3,113 · Management $0 · Fundraising $0$3,113
IX-10 Payroll taxesPrograms $8,397 · Management $2,799 · Fundraising $0$11,196
IX-11c Accounting feesPrograms $0 · Management $3,250 · Fundraising $0$3,250
IX-11e Professional fundraising feesFundraising $2,500$2,500
IX-11g Other fees for servicesPrograms $51,034 · Management $0 · Fundraising $0$51,034
IX-12 Advertising and promotionPrograms $15,457 · Management $0 · Fundraising $0$15,457
IX-13 Office expensesPrograms $0 · Management $721 · Fundraising $0$721
IX-14 Information technologyPrograms $0 · Management $13,278 · Fundraising $0$13,278
IX-15 RoyaltiesPrograms $2,722 · Management $0 · Fundraising $0$2,722
IX-16 OccupancyPrograms $402,576 · Management $0 · Fundraising $0$402,576
IX-17 TravelPrograms $8,362 · Management $0 · Fundraising $0$8,362
IX-20 InterestPrograms $0 · Management $2,121 · Fundraising $0$2,121
IX-22 Depreciation, depletion and amortizationPrograms $14,832$14,832
IX-23 InsuranceManagement $13,101$13,101
IX-24 Other expenses (24a–d)Programs $36,091 · Management $0 · Fundraising $0$36,091
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $652,352 · Management $71,860 · Fundraising $2,500$726,712
Part X · Balance sheet $2,165,429 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $352,432$392,655
X-4 Accounts receivableStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $52,763$37,931
X-15 Other assetsStart of year $2,100,217$1,734,843
X-16 Total assetsStart of year $2,505,412$2,165,429
X-17 Accounts payable and accrued expensesStart of year $133,689$126,950
X-19 Deferred revenueStart of year $52,996$61,056
X-24 Unsecured notes and loans payableStart of year $78,182$76,104
X-25 Other liabilitiesStart of year $2,175,110$1,837,711
X-26 Total liabilitiesStart of year $2,439,977$2,101,821
X-27 Net assets without donor restrictionsStart of year $65,435$63,608
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $65,435$63,608
X-33 Total liabilities and net assetsStart of year $2,505,412$2,165,429
Part XI · Reconciliation of net assets $63,608 net assets at year end
XI-1 Total revenue$724,886
XI-2 Total expenses$726,712
XI-3 Revenue less expenses−$1,826
XI-4 Net assets at start of year$65,435
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments−$1
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$63,608

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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