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Riverside Theatre FY2023 filing

Tax-deductible

Iowa City, IA501(c)(3)Arts & Culture EIN 42-1188839Revenue $850K in FY2023

On file with the IRSriversidetheatre.org119 E College St, 52240-4002 · Iowa City, IATax-exempt since May 1983Publicly supported — 509(a)(2)

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Riverside Theatre connects artists and audiences through intimate, engaging productions from the classics to new works, and provides an artistic home for regional Theatre professionals. See schedule o for continuation.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$59K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $65K a year · 9% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$59K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $25K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$247K
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$850K
-26% vs prior year
Spent
$880K
To programs
72%
Net assets
$707K
By yearFY2020–FY2025
Revenue
$850K
FY2023▼ -26%
Tap a bar for its year
Revenue by fiscal year
FY2020$406K
FY2021$834K
FY2022$1.2M
FY2023$850K
FY2024$562K
FY2025$697K
Expenses
$880K
FY2023▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$364K
FY2021$420K
FY2022$814K
FY2023$880K
FY2024$755K
FY2025$882K
Net assets
$707K
FY2023+0.4%
Tap a bar for its year
Net assets by fiscal year
FY2020−$50K
FY2021$364K
FY2022$704K
FY2023$707K
FY2024$514K
FY2025$329K

From the FY2023 Form 990 (year ending August 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1983.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $630K Management & general 22% · $198K Fundraising 6% · $52K

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

20 people listed on the 990; $59K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Adam Knight
Prod. Art. D
$58,738Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Connie Alt
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Adam Knight’s $71K as Prod. Art. D is at the 66th percentile of top reported officer pay among 2216 $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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Adam Knight$71,216$68,031$58,738$50,833$46,401$45,002

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Connects artists and audiences with engaging theatre productions, fostering a home for regional professionals.

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Provided by the organization

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1 program · $630K · in their own filed words · FY2022
01

Through its roster of full productions, outreach events, and educational activities, riverside theatre serves the iowa city area with programming that fosters appreciation for the dramatic arts, employs artists, and strengthens community through opportunities for serious discourse and reflection.

$630Kprogram 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
Arts MidwestFY2024$20K
Donor Advised Charitable Giving INCFY2024$5K
Total grants receivedfrom 2 funders$25K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$850K
Ln 12
Gifts and grantsLn 1h$603K
Fees for servicesLn 2g$236K
Other incomeLn 4–11$10K
Money outPt IX
$880K
Ln 25
Programscol B$630K
Managementcol C$198K
Fundraisingcol D$52K
Owns and owesPt X
$707K
net assets · Ln 32
Cash and savingsLn 1–2$209K
Total assetsLn 16$953K
LiabilitiesLn 26$247K
PeoplePt VI, VII
20
listed · VII A
PaidVII A1
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$603K
Government grantsLn 1e$30K
Noncash giftsLn 1g$6K
Fundraising eventsLn 1c$8K
Fees for servicesLn 2g$236K
Investment incomeLn 3$41
Other incomeLn 4–11$10K
Total revenueLn 12$850K
Assets in detailPt X, end of year
SavingsLn 2$209K
Cash and savings togetherLn 1–2$209K
Land, buildings, equipmentLn 10c$489K
Other assetsLn 15$123K
Total assetsLn 16$953K
LiabilitiesLn 26$247K
Net assetsLn 32$707K
OperationsPt I, VI
EmployeesI 517
VolunteersI 635
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$83K$209K
Land, buildings, equipmentLn 10c$487K$489K
Total assetsLn 16$873K$953K
LiabilitiesLn 26$169K$247K
Net assetsLn 32$704K$707K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$59K$33K$12K$15K
Other salaries and wagesLn 7$247K$192K$30K$25K
Other employee benefitsLn 9$18K$14K$45$3K
Payroll taxesLn 10$22K$15K$3K$3K
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$140K$130K$10K
Advertising and promotionLn 12$16K$16K
Office expensesLn 13$29K$28K$1K$250
Information technologyLn 14$4K$4K
RoyaltiesLn 15$13K$13K
OccupancyLn 16$92K$91K$632
TravelLn 17$12K$12K
InterestLn 20$8K$8K
Depreciation, depletion and amortizationLn 22$72K$72K
InsuranceLn 23$11K$11K
Other expenses (24a–d)Ln 24$100K$58K$42K$128
All other expensesLn 24e$27K$17K$5K$6K
Total functional expensesLn 25$880K$630K$198K$52K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $697K$882K−$185K$329K 990 PDF
FY2024 $562K$755K−$193K$514K 990 PDF
FY2023 Viewing $850K$880K−$30K$707K 990 PDF
FY2022 $1.2M$814K$340K$704K 990 PDF
FY2021 $834K$420K$414K$364K 990 PDF
FY2020 $406K$364K$43K−$50K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $849,934 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $998,738$603,227
I-9 Program service revenuePrior year $147,232$236,244
I-10 Investment incomePrior year $327$41
I-11 Other revenuePrior year $7,573$10,422
I-12 Total revenuePrior year $1,153,870$849,934
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $306,686$345,646
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $507,231$534,679
I-18 Total expensesPrior year $813,917$880,325
I-19 Revenue less expensesPrior year $339,953−$30,391
Part VI · Governance 16 of 16 board members independent, 1 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $849,934 across 9 lines filed
VIII-1c Fundraising events$8,363
VIII-1e Government grants$30,500
VIII-1f All other contributions, gifts and grants$564,364
VIII-1g Noncash contributions (included above)$6,288
VIII-1h Total contributions, gifts and grants$603,227
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $236,244$236,244
VIII-3 Investment incomeExcluded from tax $41$41
VIII-8 Net income from fundraising events$10,422
VIII-12 Total revenueRelated to mission $236,244 · Excluded from tax $41$849,934
Part IX · Statement of functional expenses $880,325 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $32,513 · Management $11,823 · Fundraising $14,779$59,115
IX-7 Other salaries and wagesPrograms $191,899 · Management $30,496 · Fundraising $24,638$247,033
IX-9 Other employee benefitsPrograms $14,383 · Management $45 · Fundraising $3,469$17,897
IX-10 Payroll taxesPrograms $15,198 · Management $3,320 · Fundraising $3,083$21,601
IX-11c Accounting feesManagement $9,900$9,900
IX-11g Other fees for servicesPrograms $130,153 · Management $10,051$140,204
IX-12 Advertising and promotionPrograms $16,034$16,034
IX-13 Office expensesPrograms $27,511 · Management $1,041 · Fundraising $250$28,802
IX-14 Information technologyManagement $3,815$3,815
IX-15 RoyaltiesPrograms $13,041$13,041
IX-16 OccupancyPrograms $91,213 · Management $632$91,845
IX-17 TravelPrograms $12,329$12,329
IX-20 InterestManagement $7,822$7,822
IX-22 Depreciation, depletion and amortizationManagement $72,432$72,432
IX-23 InsurancePrograms $11,151$11,151
IX-24 Other expenses (24a–d)Programs $58,203 · Management $41,904 · Fundraising $128$100,235
IX-24e All other expensesPrograms $16,560 · Management $4,523 · Fundraising $5,986$27,069
IX-25 Total functional expensesPrograms $630,188 · Management $197,804 · Fundraising $52,333$880,325
Part X · Balance sheet $953,285 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $83,359$209,489
X-3 Pledges and grants receivableStart of year $280,264$122,296
X-9 Prepaid expenses and deferred chargesStart of year $21,623$8,911
X-10c Land, buildings and equipment, netStart of year $487,389$489,136
X-15 Other assets$123,453
X-16 Total assetsStart of year $872,635$953,285
X-17 Accounts payable and accrued expensesStart of year $21,476$11,624
X-19 Deferred revenueStart of year $25,293$14,932
X-25 Other liabilities$123,453
X-26 Total liabilitiesStart of year $168,967$246,770
X-27 Net assets without donor restrictionsStart of year $312,245$366,013
X-28 Net assets with donor restrictionsStart of year $391,423$340,502
X-32 Total net assets or fund balancesStart of year $703,668$706,515
X-33 Total liabilities and net assetsStart of year $872,635$953,285
Part XI · Reconciliation of net assets $706,515 net assets at year end
XI-1 Total revenue$849,934
XI-2 Total expenses$880,325
XI-3 Revenue less expenses−$30,391
XI-4 Net assets at start of year$703,668
XI-8 Prior period adjustments$33,238
XI-10 Net assets at end of year$706,515

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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