Key West Players INC

Tax-deductible

Key West, FL501(c)(3)Since 1940EIN 59-1966652Revenue $1.0M in FY2024

On file with the IRSwaterfrontplayhouse.orgPo Box 724, 33041-0724 · Key West, FLTax-exempt since Jun 1982Publicly supported — 509(a)(2)

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To provide theater performances and educational programs for the residents of Key West, the Florida Keys, and for the many visitors to the Keys. Recognized as the Best Professional Theater in Florida for many years. We also ensure maintenance of our historic playhouse.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Run by 2 volunteers and 92 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

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
1 of 5
filings with a surplus
Average deficit $78K a year · 9% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$700K
53% of total assets
Fine: liabilities are 53% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
12
of 14 voting members
Looks good: 12 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
+8% vs prior year
Spent
$1.1M
To programs
95%
Net assets
$611K
By yearFY2020–FY2024
Revenue
$1.0M
FY2024▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$778K
FY2021$427K
FY2022$1.2M
FY2023$1.1M
FY2024$936K
FY2024$1.0M
Expenses
$1.1M
FY2024▼ -1%
Tap a bar for its year
Expenses by fiscal year
FY2020$929K
FY2021$428K
FY2022$1.1M
FY2023$1.3M
FY2024$1.1M
FY2024$1.1M
Net assets
$611K
FY2024▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2020$972K
FY2021$958K
FY2022$1.0M
FY2023$813K
FY2024$659K
FY2024$611K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1982.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $1.0M Management & general 3% · $32K Fundraising 2% · $17K

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

15 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Key West Players INC 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Presents theater and education, maintaining a historic playhouse for Keys residents and visitors.

Provided by the organization

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3 programs · $1.0M · in their own filed words · FY2024
01

The Waterfront Playhouse presents five main stage shows each season supplemented by a limited run special performances featuring the best professional entertainers in Key West. In addition, the theater supports presentations by visiting shows, special performances by students of the performing arts, and arts education programs for the…

$860Kprogram expense
02

Provide stewardship for the historical building that is the Waterfront Playhouse. Includes operations and maintenance as well as capital improvements and equipment acquisition over time.

$153Kprogram expense
03

Provide childrens summer theatrical camp and facility use and support for educational summer activities. Program currently on hold.

Pt IX · col B

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 · FY2025
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$598K
Gifts and grantsLn 1h$446K
Investment incomeLn 3$14K
Money outPt IX
$1.1M
Ln 25
Programscol B$1.0M
Managementcol C$32K
Fundraisingcol D$17K
Owns and owesPt X
$611K
net assets · Ln 32
Cash and savingsLn 1–2$43K
Total assetsLn 16$1.3M
LiabilitiesLn 26$700K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$446K
Government grantsLn 1e$9K
Fundraising eventsLn 1c$55K
Fees for servicesLn 2g$598K
Investment incomeLn 3$14K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$20K
SavingsLn 2$23K
Cash and savings togetherLn 1–2$43K
InvestmentsLn 11–13$317K
Land, buildings, equipmentLn 10c$871K
Total assetsLn 16$1.3M
LiabilitiesLn 26$700K
Net assetsLn 32$611K
OperationsPt I, VI
EmployeesI 592
VolunteersI 62
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$12K$43K
InvestmentsLn 11–13$351K$317K
Land, buildings, equipmentLn 10c$962K$871K
Total assetsLn 16$1.3M$1.3M
LiabilitiesLn 26$678K$700K
Net assetsLn 32$659K$611K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$187K$187K
Other salaries and wagesLn 7$280K$280K
Payroll taxesLn 10$46K$46K
Accounting feesLn 11c$27K$27K
Investment management feesLn 11f$4K$4K
Advertising and promotionLn 12$116K$116K
RoyaltiesLn 15$56K$56K
OccupancyLn 16$79K$79K
TravelLn 17$56$56
InterestLn 20$4K$4K
Depreciation, depletion and amortizationLn 22$75K$75K
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$155K$155K
All other expensesLn 24e$17K$17K
Total functional expensesLn 25$1.1M$1.0M$32K$17K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $936K$1.1M−$140K$659K 990 PDF
FY2023 $1.1M$1.3M−$230K$813K 990 PDF
FY2022 $1.2M$1.1M$131K$1.0M 990 PDF
FY2021 $427K$428K−$1K$958K 990 PDF
FY2020 $778K$929K−$151K$972K 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 $1,012,549 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $336,129$446,210
I-9 Program service revenuePrior year $640,073$597,608
I-10 Investment incomePrior year $15,811$13,718
I-11 Other revenuePrior year −$56,236−$44,987
I-12 Total revenuePrior year $935,777$1,012,549
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $543,143$512,919
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $533,122$549,113
I-18 Total expensesPrior year $1,076,265$1,062,032
I-19 Revenue less expensesPrior year −$140,488−$49,483
Part VI · Governance 12 of 14 board members independent, 4 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members12
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 $1,012,549 across 10 lines filed
VIII-1c Fundraising events$55,082
VIII-1e Government grants$9,376
VIII-1f All other contributions, gifts and grants$381,752
VIII-1h Total contributions, gifts and grants$446,210
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $597,608$597,608
VIII-3 Investment incomeRelated to mission $13,718$13,718
VIII-6 Net rental income or lossRelated to mission −$56,419−$56,419
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $11,432$11,432
VIII-12 Total revenueRelated to mission $566,339 · Unrelated business $0 · Excluded from tax $0$1,012,549
Part IX · Statement of functional expenses $1,062,032 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $186,786$186,786
IX-7 Other salaries and wagesPrograms $279,847$279,847
IX-10 Payroll taxesPrograms $46,286$46,286
IX-11c Accounting feesManagement $27,250$27,250
IX-11f Investment management feesManagement $4,428$4,428
IX-12 Advertising and promotionPrograms $116,375$116,375
IX-15 RoyaltiesPrograms $56,422$56,422
IX-16 OccupancyPrograms $78,780$78,780
IX-17 TravelPrograms $56$56
IX-20 InterestPrograms $4,487$4,487
IX-22 Depreciation, depletion and amortizationPrograms $74,612$74,612
IX-23 InsurancePrograms $14,349$14,349
IX-24 Other expenses (24a–d)Programs $154,899$154,899
IX-24e All other expensesFundraising $17,455$17,455
IX-25 Total functional expensesPrograms $1,012,899 · Management $31,678 · Fundraising $17,455$1,062,032
Part X · Balance sheet $1,310,849 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $9,099$19,698
X-2 Savings and temporary cash investmentsStart of year $3,311$23,400
X-3 Pledges and grants receivable$42,966
X-9 Prepaid expenses and deferred chargesStart of year $10,671$36,219
X-10c Land, buildings and equipment, netStart of year $961,812$871,378
X-11 Publicly traded securitiesStart of year $350,960$317,188
X-16 Total assetsStart of year $1,336,803$1,310,849
X-17 Accounts payable and accrued expensesStart of year $21,170$45,886
X-19 Deferred revenueStart of year $20,100$32,916
X-26 Total liabilitiesStart of year $678,083$700,142
X-32 Total net assets or fund balancesStart of year $658,720$610,707
X-33 Total liabilities and net assetsStart of year $1,336,803$1,310,849
Part XI · Reconciliation of net assets $610,707 net assets at year end
XI-1 Total revenue$1,012,549
XI-2 Total expenses$1,062,032
XI-3 Revenue less expenses−$49,483
XI-4 Net assets at start of year$658,720
XI-5 Net unrealized gains (losses) on investments−$9,034
XI-8 Prior period adjustments$10,504
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$610,707

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

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