Act 2 INC EIN 46-0356747 Form 990 (PDF) Claim this org

Act 2 INC FY2020 filing

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Presents live theatre to engage the Aberdeen community creatively. For fiscal year 2020 it reported $561K in revenue, $432K in expenses, and $2.3M in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Aberdeen, SD
Filings
4 on file (2020–2020)
Revenue
$561KFY2020
Expenses
$432K
Net assets
$2.3M
People
9
Filings
4
Updates
0
More identity details & actions ⌄
EIN  46-0356747 Public charity (501(c)(3)) Aberdeen, SD
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Size
$1–10M
What they do
Presents live theatre to engage the Aberdeen community creatively.
Leadership
Linda Peterson · President
Money in and out
$561K revenue, $432K expenses
Bottom line
11% program efficiency
Where the money goes · FY2020
Total revenue
$561K
Pt VIII · Ln 12
Total expenses
$432K
Pt IX · Ln 25
Net assets
$2.3M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $130K
Where spending went · Part IX cols B–D
Program services $0.11 Management & general $0.89
Program efficiency
11%
of spending reaches programs
Operating runway
39.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
+23%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$561K
FY2020
Expenses
$432K
FY2020
Total assets
$2.5M
FY2020
Total liabilities
$169K
FY2020
Total revenue
$561K
Pt VIII · Ln 12
Total expenses
$432K
Pt IX · Ln 25
Net assets
$2.3M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$130K
Total assetsPt X · Ln 16$2.5M
Program-expense ratioPt IX · col B11%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

3 program services account for $47K of program spending, described in the organization's own filed words · FY2019.
01

Cinema

Cinematography for local area cinamtographers

$25Kprogram expense
02

Theatre Performances with/for local actors of all ages.

$22Kprogram expense
03

Young Peoples Theatre

Theatre perfomances for area youth actors

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAct 2 INC
EINHdr · item D46-0356747
Principal addressHdr · item CAberdeen, SD
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MSD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A65)
Ruling yearIRS BMFAug 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Artistic/Managing Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$409K · 73%
Program service revenue$74K · 13%
Investment income$69K · 12%
Other revenue$9K · 2%
Contributions & grants73%$409K
Program service revenue13%$74K
Investment income12%$69K
Other revenue2%$9K
— government grantsLn 1e$74K
Total revenueLn 12$561K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.11 Management & general $0.89
Program services11%$47K
Management & general89%$384K
Total functional expensesLn 25$432K

Balance Sheet

Part X · end of year
CashLn 1$1.4M
Total assetsLn 16$2.5M
Total liabilitiesLn 26$169K
Total net assetsLn 32$2.3M
Months of cash on handcomputed39.6

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.4M · Operating expenses/yr $432K
39.6 months
Where the money goes
Program services
Program services $47K · Total expenses $432K
11%
Management & General
Management & general $384K · Total expenses $432K
89%
Fundraising
Fundraising $0 · Total expenses $432K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $334K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $409K · Total revenue $561K
73%
Government reliance
Government grants $74K · Total revenue $561K
13%
Earned-income share
Program service revenue $74K · Total revenue $561K
13%
Investment reliance
Investment income $69K · Total revenue $561K
+12%
Program self-sufficiency
Program service revenue $74K · Total expenses $432K
17%
Growth & trend
Revenue growth (YoY)
This year $561K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $2.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $561K · Expenses $432K
+23%
Liabilities-to-Assets
Total liabilities — · Total assets $2.5M
Net-asset ratio
Net assets $2.3M · Total assets $2.5M
93%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.5M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Linda Peterson · Reported title President · Highest reported compensation $0 · Total expenses $432K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $160K · Total expenses $432K
37%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 11%
Overhead ratio 89%
Fundraising cost ratio 0%

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$92K

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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)$1.0M revenue · ⤓ 990 PDF
FY2023$638K revenue · ⤓ 990 PDF
FY2022not on file
FY2021$864K revenue · ⤓ 990 PDF
FY2020$561K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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