Nashville Repertory Theatre
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$2,641,150.00
Projected Expenses
$3,128,586.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| Nashville Repertory Theatre IRS Letter |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $3,171,319.00 | $919,073.00 | |
| Total Expenses | $2,588,047.00 | $796,572.00 | |
| Revenue Less Expenses | ($-0.00) | $583,272.00 | $122,501.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $230,481.00 | $0.00 | |
| Government - Federal | $0.00 | $0.00 | |
| Government - State | $1,541,072.00 | $0.00 | |
| Government - Local | $0.00 | $0.00 | |
| Government - Unspecified | $559,394.00 | $479,481.00 | |
| Contributions, Gifts, and Grants | $113,283.00 | $404,798.00 | |
| Indirect Public Support | $0.00 | $0.00 | |
| Earned Revenue | $486,030.00 | $0.00 | |
| Investment Income, Net of Losses | $0.00 | $0.00 | |
| Membership Dues | $0.00 | $0.00 | |
| Special Events | $221,464.00 | $19,384.00 | |
| Revenue In-Kind | $15,250.00 | $5,000.00 | |
| Other | $4,165.00 | $10,410.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $1,948,695.00 | $367,124.00 | |
| Administration Expense | $623,861.00 | $421,341.00 | |
| Fundraising Expense | $15,491.00 | $8,107.00 | |
| Total Revenue/Total Expenses | 123% | 115% | |
| Program Expense/Total Expenses | 75% | 46% | |
| Fundraising Expense/Contributed Revenue | 1% | 1% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | $0.00 | State Government Grants $1,541,072.00 | Government Grants $479,481.00 |
| Second Highest Funding Source & Dollar Amount | $0.00 | Government Grants $559,394.00 | Contributions, Gifts, and Grants $404,798.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | Program Revenue $486,030.00 | Fundraising Events $19,384.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $1,810,998.00 | $1,259,102.00 | |
| Current Assets | $1,738,479.00 | $1,221,924.00 | |
| Long-Term Liabilities | $0.00 | $0.00 | |
| Current Liabilities | $590,207.00 | $621,583.00 | |
| Total Net Assets | $1,220,791.00 | $637,519.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$1,800,000.00
What is the spending policy for your endowment?
N/A
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
December
Permit Expiration Year
2023
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| Nashville Rep's current strategic plan details the need to diversify revenue sources beyond mainstage ticket purchases and standard fundraising and identifies multiple opportunities to do so: • Growing our rentals operation • Offering shop services for contract • Offering custom prop and costume creation • Expanding youth programs • Adding special events • Identifying new fundraising markets and new audiences • Creating new partnerships, especially with major cultural institutions • Continue leveraging digital programming to expand reach at a low cost • Restructure the staff to enable increased development efforts, especially in corporate gifts - Launching a touring company The COVID-19 pandemic highlighted the need for understudy and swing performers, which, if fully implemented, could raise payroll costs for each production greatly, sometimes by as much as 100%. In 2022, the company received a three-year, $2 million grant from the Tennessee Arts Commission that is helping to support those increased costs as well as the space costs listed in the Programs section. To prepare the organization to replace those funds when the grant ends, in addition to the initiatives above, we have increased the budget reorganized our development department and we are building a culture of philanthropy throughout the organization. |
Foundation Staff Comments
| Prior comment: **The endowment for Tennessee Repertory Theatre is held at The Community Foundation of Middle Tennessee. Kathryn Bennett 3/8/2021. Financials taken from the Form 990. Financial prepared by UHY Advisors MO, Inc. Comments provided by Tina Randolph 04/06/2023. |
