Triad Stage INC FY2021 filing

Tax-deductible

Greensboro, NC501(c)(3)Arts & CultureEIN 62-1743981Revenue $885K in FY2021

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.
47¢ of each $1 spent went to programs.
$116K 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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FY2021 · 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
47%
of spending
Concern: 47% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$116K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.4 months of spending in cash; 3 or more.
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
$1.3M
51% of total assets
Fine: liabilities are 51% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$885K
-50% vs prior year
Spent
$954K
To programs
47%
Net assets
$1.3M
By yearFY2020–FY2023
Revenue
$885K
FY2021▼ -50%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.8M
FY2021$885K
FY2022$990K
FY2023$718K
Expenses
$954K
FY2021▼ -61%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.4M
FY2021$954K
FY2022$730K
FY2023$1.3M
Net assets
$1.3M
FY2021▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$1.5M
FY2023$978K

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 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

47 cents of each dollar spent went to programs.

Program services 47% · $452K Management & general 48% · $456K Fundraising 5% · $46K

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

18 people listed on the 990; $116K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Producing Artistic Directo
$115,874Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Founding Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$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.

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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 · $452K · in their own filed words · FY2020
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.

$452Kprogram 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
Total grants receivedfrom 3 funders$9K
See all 3 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$885K
Ln 12
Gifts and grantsLn 1h$425K
Investment incomeLn 3$422K
Other incomeLn 4–11$37K
Money outPt IX
$954K
Ln 25
Programscol B$452K
Managementcol C$456K
Fundraisingcol D$46K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$586K
Total assetsLn 16$2.6M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
18
listed · VII A
PaidVII A1
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$425K
Government grantsLn 1e$229K
Fees for servicesLn 2g−$3K
Investment incomeLn 3$422K
Other incomeLn 4–11$37K
Gains on assetsLn 7$422K
Total revenueLn 12$885K
Assets in detailPt X, end of year
CashLn 1$586K
Cash and savings togetherLn 1–2$586K
Land, buildings, equipmentLn 10c$1.8M
Other assetsLn 15$48K
Total assetsLn 16$2.6M
LiabilitiesLn 26$1.3M
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 FY21End FY21
Cash and savingsLn 1–2$421K$586K
Land, buildings, equipmentLn 10c$2.3M$1.8M
Total assetsLn 16$3.2M$2.6M
LiabilitiesLn 26$1.8M$1.3M
Net assetsLn 32$1.3M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$105K$105K
Other salaries and wagesLn 7$260K$108K$121K$31K
Pension plan contributionsLn 8$1K$1K
Other employee benefitsLn 9$18K$8K$8K$842
Payroll taxesLn 10$25K$15K$8K$2K
Accounting feesLn 11c$31K$31K
Investment management feesLn 11f$756$756
Other fees for servicesLn 11g$91K$4K$88K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$35K$2K$32K$787
Information technologyLn 14$28K$28K
RoyaltiesLn 15−$233−$233
OccupancyLn 16$78K$14K$64K
TravelLn 17$10K$10K
Conferences, conventions and meetingsLn 19$367$367
InterestLn 20$35K$35K
Depreciation, depletion and amortizationLn 22$169K$160K$9K
InsuranceLn 23$22K$22K
Other expenses (24a–d)Ln 24$37K$19K$8K$11K
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$954K$452K$456K$46K

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 Viewing $885K$954K−$69K$1.3M 990 PDF
FY2020 $1.8M$2.4M−$640K$1.3M 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 FY2021 990 (6 parts)
Part I · Summary $884,711 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $986,764$425,391
I-9 Program service revenuePrior year $626,209−$2,757
I-10 Investment incomePrior year $1,249$422,425
I-11 Other revenuePrior year $168,399$39,652
I-12 Total revenuePrior year $1,782,621$884,711
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 $938,564$408,826
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,483,934$544,856
I-18 Total expensesPrior year $2,422,498$953,682
I-19 Revenue less expensesPrior year −$639,877−$68,971
Part VI · Governance 17 of 17 board members independent, 2 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
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 $884,711 across 9 lines filed
VIII-1e Government grants$229,070
VIII-1f All other contributions, gifts and grants$196,321
VIII-1h Total contributions, gifts and grants$425,391
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission −$2,757−$2,757
VIII-3 Investment incomeExcluded from tax $687$687
VIII-6 Net rental income or lossRelated to mission $19,177$19,177
VIII-7 Net gain or loss on sales of assetsExcluded from tax $421,738$421,738
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $20,475$20,475
VIII-12 Total revenueRelated to mission $36,895 · Unrelated business $0 · Excluded from tax $422,425$884,711
Part IX · Statement of functional expenses $953,682 across 20 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $104,896$104,896
IX-7 Other salaries and wagesPrograms $107,627 · Management $120,922 · Fundraising $31,250$259,799
IX-8 Pension plan contributionsPrograms $1,386$1,386
IX-9 Other employee benefitsPrograms $8,362 · Management $8,472 · Fundraising $842$17,676
IX-10 Payroll taxesPrograms $14,808 · Management $7,976 · Fundraising $2,285$25,069
IX-11c Accounting feesManagement $30,671$30,671
IX-11f Investment management feesManagement $756$756
IX-11g Other fees for servicesPrograms $3,750 · Management $87,684$91,434
IX-12 Advertising and promotionPrograms $4,558$4,558
IX-13 Office expensesPrograms $2,076 · Management $32,157 · Fundraising $787$35,020
IX-14 Information technologyManagement $27,931$27,931
IX-15 RoyaltiesPrograms −$233−$233
IX-16 OccupancyPrograms $13,825 · Management $64,309$78,134
IX-17 TravelPrograms $10,160$10,160
IX-19 Conferences, conventions and meetingsManagement $367$367
IX-20 InterestManagement $35,138$35,138
IX-22 Depreciation, depletion and amortizationPrograms $160,144 · Management $9,300$169,444
IX-23 InsuranceManagement $21,985$21,985
IX-24 Other expenses (24a–d)Programs $18,526 · Management $8,260 · Fundraising $10,502$37,288
IX-24e All other expensesPrograms $2,203$2,203
IX-25 Total functional expensesPrograms $452,088 · Management $455,928 · Fundraising $45,666$953,682
Part X · Balance sheet $2,637,233 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $421,172$585,609
X-3 Pledges and grants receivableStart of year $214,589$97,469
X-4 Accounts receivableStart of year $46,248$310
X-9 Prepaid expenses and deferred chargesStart of year $110,454$118,734
X-10c Land, buildings and equipment, netStart of year $2,342,125$1,786,718
X-15 Other assetsStart of year $37,997$48,393
X-16 Total assetsStart of year $3,172,585$2,637,233
X-17 Accounts payable and accrued expensesStart of year $213,750$55,079
X-19 Deferred revenueStart of year $443,457$436,772
X-25 Other liabilitiesStart of year $272,198$264,250
X-26 Total liabilitiesStart of year $1,838,272$1,342,383
X-27 Net assets without donor restrictionsStart of year $837,014$1,125,829
X-28 Net assets with donor restrictionsStart of year $497,299$169,021
X-32 Total net assets or fund balancesStart of year $1,334,313$1,294,850
X-33 Total liabilities and net assetsStart of year $3,172,585$2,637,233
Part XI · Reconciliation of net assets $1,294,850 net assets at year end
XI-1 Total revenue$884,711
XI-2 Total expenses$953,682
XI-3 Revenue less expenses−$68,971
XI-4 Net assets at start of year$1,334,313
XI-5 Net unrealized gains (losses) on investments$10,354
XI-8 Prior period adjustments$19,154
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,294,850

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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