Legacy Theater Foundation INC EIN 81-1291908

Legacy Theater Foundation INC

EIN  81-1291908 Public charity (501(c)(3)) Carthage, IL Founded 2016
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Operate and maintain a historic theater for regional enjoyment and betterment.
Leadership
Larissa McShane · Executive Director · $35K
Money in and out
$865K revenue, $554K expenses
Bottom line
77% program efficiency

Operate and maintain a historic theater for regional enjoyment and betterment. For fiscal year 2025 it reported $865K in revenue, $554K in expenses, and $4.7M in net assets.Pt I

Where the money goes · FY2025
Total revenue
$865K
Pt VIII · Ln 12
Total expenses
$554K
Pt IX · Ln 25
Net assets
$4.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $311K
Where spending went · Part IX cols B–D
Program services $0.77 Management & general $0.23
Program efficiency
77%
of spending reaches programs▲ +11% vs prior filing year
Operating runway
10.2mo
months of highly liquid reserves at operating expense rate▲ +70% vs prior filing year
Surplus margin
+36%
revenue over expenses, this year▲ +95% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$865K
FY2025▲ +93%
Expenses
$554K
FY2025▲ +52%
Total assets
$4.7M
FY2025▲ +5%
Total liabilities
$42K
FY2025▼ -62%
Total revenue
$865K
Pt VIII · Ln 12
Total expenses
$554K
Pt IX · Ln 25
Net assets
$4.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$311K
Total assetsPt X · Ln 16$4.7M
Program-expense ratioPt IX · col B77%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

3 program services account for $198K of program spending, described in the organization's own filed words · FY2025.
01

A Night With Kelsey Grammer

$161Kprogram expense
02

Texas Tenors

$23Kprogram expense
03

Broadway Review

$14Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLegacy Theater Foundation INC
EINHdr · item D81-1291908
Principal addressHdr · item CCarthage, IL
WebsiteHdr · item Jwww.thelegacytheater.com
Year of formationHdr · item L2016
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A61)
Ruling yearIRS BMFMar 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$35,054Pt VII · Sec A
Executive Director
$25,039Pt VII · Sec A
Ticket Office Worker
$8,681Pt VII · Sec A
Ticket Office Worker
$3,296Pt VII · Sec A
$2,500Pt VII · Sec A
Ticket Office Worker
$2,409Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Larissa McShane’s $35K as Executive Director is at the 30th percentile of top reported officer pay among 2213 $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 · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Tom Robbins$55,385$231
Larissa McShane$35,054
Casey Hall$25,039$477
Gera Ufkes$1,328$25,024$11,829
Haley Dixon$23,532
Bonnie Bentzinger$3,296$17,824$17,738$16,860$11,466
Halley Dixon$8,928
Audrie Inman$8,681

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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Statement of Revenue

Part VIII
Contributions & grants$381K · 44%
Program service revenue$262K · 30%
Other revenue$213K · 25%
Investment income$8K · 1%
Contributions & grants44%$381K
Program service revenue30%$262K
Other revenue25%$213K
Investment income1%$8K
— government grantsLn 1e$28K
Total revenueLn 12$865K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.77 Management & general $0.23
Program services77%$426K
Management & general23%$128K
Total functional expensesLn 25$554K

Balance Sheet

Part X · end of year
CashLn 1$452K
Total assetsLn 16$4.7M
Total liabilitiesLn 26$42K
Total net assetsLn 32$4.7M
Months of cash on handcomputed9.8

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $452K · Operating expenses (Pt IX) $554K · Less non-cash grants $21K · Cash operating expenses/yr $533K
10.2 months
Where the money goes
Program services
Program services $426K · Total expenses $554K
77%
Management & General
Management & general $128K · Total expenses $554K
23%
Fundraising
Fundraising $0 · Total expenses $554K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $182K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $381K · Total revenue $865K
44%
Government reliance
Government grants $28K · Total revenue $865K
3%
Earned-income share
Program service revenue $262K · Total revenue $865K
30%
Investment reliance
Investment income $8K · Total revenue $865K
+1%
Program self-sufficiency
Program service revenue $262K · Total expenses $554K
47%
Growth & trend
Revenue growth (YoY)
This year $865K · Prior year $448K
+93%
Revenue CAGR
FY2021 $309K · FY2025 $865K
+29%
Net-asset trend (YoY)
End of year $4.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $865K · Expenses $554K
+36%
Liabilities-to-Assets
Total liabilities — · Total assets $4.7M
Net-asset ratio
Net assets $4.7M · Total assets $4.7M
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $4.7M
0%
People & payroll
Highest Reported Total Compensation
Individual Larissa McShane · Reported title Executive Director · Highest reported compensation $35K · Total expenses $554K
6%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $87K · Total expenses $554K
16%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 77%
Overhead ratio 23%
Revenue growth 93%

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 · FY2023
Total grants receivedfrom 1 funder$20K

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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
FY2025 (Latest)$865K revenue · viewing · ⤓ 990 PDF
FY2024$448K revenue · ⤓ 990 PDF
FY2023$274K revenue · ⤓ 990 PDF
FY2022$318K revenue · ⤓ 990 PDF
FY2021$309K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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