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Triad Stage INC FY2020 filing

Tax-deductible

Greensboro, NC501(c)(3)Arts & Culture EIN 62-1743981Revenue $1.8M in FY2020

On file with the IRStriadstage.org232 South Elm Street · Greensboro, NCTax-exempt since Aug 1998Publicly supported charity — 170(b)(1)(A)(vi)

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A professional theatre company dedicated to strengthening the community through the arts.

501(c)(3) charity; gifts are tax-deductible.
64¢ of each $1 spent went to programs.
$110K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $255K a year · 23% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$110K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $9K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.8M
58% of total assets
Fine: liabilities are 58% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
28
of 29 voting members
Looks good: 28 of 29 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
Spent
$2.4M
To programs
64%
Net assets
$1.3M
By yearFY2020–FY2023
Revenue
$1.8M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.8M
FY2021$885K
FY2022$990K
FY2023$718K
Expenses
$2.4M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$2.4M
FY2021$954K
FY2022$730K
FY2023$1.3M
Net assets
$1.3M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$1.5M
FY2023$978K

From the FY2020 Form 990 (year ending June 2020) · 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 (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Aug 1998.

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

Where the money goes

64 cents of each dollar spent went to programs.

Program services 64% · $1.6M Management & general 32% · $765K Fundraising 4% · $101K

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

29 people listed on the 990; $110K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Preston Lane
Producing Artistic Director
$109,607Pt VII · Sec A
$0Pt VII · Sec A
Kate Barrett
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Kathleen Holland’s $17K as Executive Director is at the 13th 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 · 3 named individuals · Part VII

NameFY2023FY2022FY2021FY2020
Preston Lane——$115,874$109,607
Kathleen O'Kelly—$65,264——
Kathleen Holland$17,423———

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.

See Triad Stage 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Strengthens the community by producing professional theatre and engaging people through the arts.

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Provided by the organization

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1 program · $1.6M · in their own filed words · FY2019
01

Triad stage, inc. Is a professional theatre company dedicated to strengthening the community and delighting audiences by providing a place where people from all economic, social, and ethnic backgrounds can come together to share a common experience through the arts.

$1.6Mprogram 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
Well-Spring Ret CommunityFY2023$8K
The Seymour & Carol Levin FoundationFY2023$1K
Amazonsmile FoundationFY2023$31
Total grants receivedfrom 3 funders$9K
See all 3 funders →

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.8M
Ln 12
Gifts and grantsLn 1h$987K
Fees for servicesLn 2g$626K
Other incomeLn 4–11$168K
Money outPt IX
$2.4M
Ln 25
Programscol B$1.6M
Managementcol C$765K
Fundraisingcol D$101K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$421K
Total assetsLn 16$3.2M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
29
listed · VII A
PaidVII A1
Voting boardVI 1a29
IndependentVI 1b28
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$987K
Government grantsLn 1e$95K
Noncash giftsLn 1g$2K
Fees for servicesLn 2g$626K
Investment incomeLn 3$1K
Other incomeLn 4–11$168K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$421K
Cash and savings togetherLn 1–2$421K
Land, buildings, equipmentLn 10c$2.3M
Other assetsLn 15$38K
Total assetsLn 16$3.2M
LiabilitiesLn 26$1.8M
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 554
VolunteersI 616
Fiscal year endsHeaderJune
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 FY20End FY20
Cash and savingsLn 1–2$23K$421K
Land, buildings, equipmentLn 10c$2.5M$2.3M
Total assetsLn 16$3.2M$3.2M
LiabilitiesLn 26$1.2M$1.8M
Net assetsLn 32$2.0M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$110K$110K
Other salaries and wagesLn 7$637K$377K$182K$78K
Pension plan contributionsLn 8$56K$56K
Other employee benefitsLn 9$58K$24K$31K$4K
Payroll taxesLn 10$78K$49K$23K$6K
Accounting feesLn 11c$42K$42K
Investment management feesLn 11f$2K$2K
Other fees for servicesLn 11g$155K$148K$6K
Advertising and promotionLn 12$91K$91K
Office expensesLn 13$50K$2K$41K$7K
Information technologyLn 14$83K$83K
RoyaltiesLn 15$41K$41K
OccupancyLn 16$166K$79K$87K
TravelLn 17$66K$66K
Conferences, conventions and meetingsLn 19$3K$3K
InterestLn 20$34K$34K
Depreciation, depletion and amortizationLn 22$193K$181K$12K
InsuranceLn 23$30K$30K
Other expenses (24a–d)Ln 24$433K$246K$180K$7K
All other expensesLn 24e$93K$87K$6K
Total functional expensesLn 25$2.4M$1.6M$765K$101K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $718K$1.3M−$571K$978K 990 PDF
FY2022 $990K$730K$260K$1.5M 990 PDF
FY2021 $885K$954K−$69K$1.3M 990 PDF
FY2020 Viewing $1.8M$2.4M−$640K$1.3M 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 FY2020 990 (6 parts)
Part I · Summary $1,782,621 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,178,087$986,764
I-9 Program service revenuePrior year $881,033$626,209
I-10 Investment incomePrior year $2,518$1,249
I-11 Other revenuePrior year $323,163$168,399
I-12 Total revenuePrior year $2,384,801$1,782,621
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 $1,011,979$938,564
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,743,894$1,483,934
I-18 Total expensesPrior year $2,755,873$2,422,498
I-19 Revenue less expensesPrior year −$371,072−$639,877
Part VI · Governance 28 of 29 board members independent, 2 to look at
VI-1a Voting members of the governing body29
VI-1b Independent voting members28
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,782,621 across 9 lines filed
Lines not itemized here account for $24,856 of total revenue; see the IRS return.
VIII-1e Government grants$95,425
VIII-1f All other contributions, gifts and grants$891,339
VIII-1g Noncash contributions (included above)$2,065
VIII-1h Total contributions, gifts and grants$986,764
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $626,209$626,209
VIII-3 Investment incomeExcluded from tax $1,249$1,249
VIII-6 Net rental income or lossExcluded from tax $57,428$57,428
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $79,067 · Unrelated business $7,048$86,115
VIII-12 Total revenueRelated to mission $705,276 · Unrelated business $7,048 · Excluded from tax $83,533$1,782,621
Part IX · Statement of functional expenses $2,422,498 across 20 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $109,607$109,607
IX-7 Other salaries and wagesPrograms $376,849 · Management $181,910 · Fundraising $78,346$637,105
IX-8 Pension plan contributionsPrograms $56,259$56,259
IX-9 Other employee benefitsPrograms $23,764 · Management $30,700 · Fundraising $3,615$58,079
IX-10 Payroll taxesPrograms $48,774 · Management $22,756 · Fundraising $5,984$77,514
IX-11c Accounting feesManagement $42,374$42,374
IX-11f Investment management feesManagement $1,704$1,704
IX-11g Other fees for servicesPrograms $148,431 · Management $6,490$154,921
IX-12 Advertising and promotionPrograms $91,418$91,418
IX-13 Office expensesPrograms $1,790 · Management $41,258 · Fundraising $6,553$49,601
IX-14 Information technologyManagement $83,456$83,456
IX-15 RoyaltiesPrograms $41,077$41,077
IX-16 OccupancyPrograms $78,551 · Management $87,492$166,043
IX-17 TravelPrograms $66,106$66,106
IX-19 Conferences, conventions and meetingsManagement $3,378$3,378
IX-20 InterestManagement $34,348$34,348
IX-22 Depreciation, depletion and amortizationPrograms $180,906 · Management $11,928$192,834
IX-23 InsuranceManagement $30,364$30,364
IX-24 Other expenses (24a–d)Programs $246,077 · Management $180,364 · Fundraising $6,873$433,314
IX-24e All other expensesPrograms $86,587 · Management $6,409$92,996
IX-25 Total functional expensesPrograms $1,556,196 · Management $764,931 · Fundraising $101,371$2,422,498
Part X · Balance sheet $3,172,585 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $23,148$421,172
X-3 Pledges and grants receivableStart of year $358,264$214,589
X-4 Accounts receivableStart of year $62,045$46,248
X-9 Prepaid expenses and deferred chargesStart of year $112,156$110,454
X-10c Land, buildings and equipment, netStart of year $2,533,486$2,342,125
X-15 Other assetsStart of year $90,306$37,997
X-16 Total assetsStart of year $3,179,405$3,172,585
X-17 Accounts payable and accrued expensesStart of year $335,276$213,750
X-19 Deferred revenueStart of year $361,861$443,457
X-25 Other liabilitiesStart of year $34,333$272,198
X-26 Total liabilitiesStart of year $1,202,360$1,838,272
X-27 Net assets without donor restrictionsStart of year $1,313,844$837,014
X-28 Net assets with donor restrictionsStart of year $663,201$497,299
X-32 Total net assets or fund balancesStart of year $1,977,045$1,334,313
X-33 Total liabilities and net assetsStart of year $3,179,405$3,172,585
Part XI · Reconciliation of net assets $1,334,313 net assets at year end
XI-1 Total revenue$1,782,621
XI-2 Total expenses$2,422,498
XI-3 Revenue less expenses−$639,877
XI-4 Net assets at start of year$1,977,045
XI-5 Net unrealized gains (losses) on investments−$2,855
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,334,313

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

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