Philadelphia Theatre Company in Philadelphia, Pennsylvania (PA)

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Philadelphia Theatre Company
Employer Identification Number (EIN)231951753
Name of OrganizationPhiladelphia Theatre Company
Address230 S Broad St Ste 1105, Philadelphia, PA 19102-4105
ActivitiesCommunity theatrical group
SubsectionLiterary Organization
Ruling Date06/1982
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period08/2012
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$20,753,833
Amount of Income$3,607,953
Form 990 Revenue Amount$3,487,623
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Theater


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Amount of income in 2012: $3,607,953
Philadelphia Theatre Company: 

 $3,607,953
Other organizations performing similar types of work: 

 $144,684

Assets in 2012: $20,753,833
Philadelphia Theatre Company: 

 $20,753,833
Other organizations performing similar types of work: 

 $139,761

Expenses in 2007: $6,264,826
Philadelphia Theatre Company: 

 $6,264,826
Other organizations performing similar types of work: 

 $1,365,498

Income to expenses ratio in 2007: 1.0
Philadelphia Theatre Company: 

 1.0
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 49.7%
This organization: 

 49.7%
Other organizations performing similar types of work: 

 80.3%

Number of employees in 2007: 36
This organization: 

 36
Other organizations performing similar types of work: 

 48

Employees paid over $50,000 in 2007: 16.7%
Philadelphia Theatre Company: 

 16.7%
Other organizations performing similar types of work: 

 6.7%

Grants share in income in 2007: 66.7%
This organization: 

 66.7%
Other organizations performing similar types of work: 

 41.2%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20062007
Total revenue$12,389,458$6,223,862
Contributions, gifts, grants, and similar amounts received$10,509,517$4,154,122
Contributions to donor advised funds$0$0
Direct public support$2,509,517$4,154,122
Indirect public support$0$0
Government contributions (grants)$8,000,000$0
Program service revenue including government fees and contracts$1,046,170$1,719,641
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$131,987$102,253
Dividends and interest from securities$0$0
Net rental income or (loss)$0$62,938
Gross rents$0$62,938
Less: rental expenses$0$0
Other investment income$0$0
Gain or (loss) from sales of assets other than inventory$0$0
Gross amount from sales of assets other than inventory$0$0
Less: cost or other basis and sales expenses$0$0
Net income or (loss) from special events and activities$255,364$112,394
Gross revenue$322,401$184,931
Less: direct expenses other than fundraising expenses$67,037$72,537
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$446,420$72,514
Total expenses$3,564,116$6,264,826
Program services$2,343,822$3,115,076
Management and general$668,446$1,734,151
Fundraising$551,848$1,415,599
Payments to affiliates$0$0
Net assets or fund balances at end of year$15,466,105$14,612,987
Excess or (deficit) for the year$8,825,342$-40,964
Net assets or fund balances at beginning of year$6,640,763$15,466,105
Other changes in net assets or fund balances$0$-812,154
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$6,264,826$3,115,076$1,734,151$1,415,599
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$239,731$52,550$32,507$154,674
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$2,015,101$1,436,155$385,979$192,967
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$96,696$59,974$14,519$22,203
Payroll taxes$192,825$128,959$35,492$28,374
Professional fundraising fees$2,880$0$2,880$0
Accounting fees$97,482$16,924$46,778$33,780
Legal fees$0$0$0$0
Supplies$52,610$15,143$25,682$11,785
Telephone$23,289$8,180$12,300$2,809
Postage and shipping$11,352$2,914$3,677$4,761
Occupancy$164,072$25,161$129,685$9,226
Equipment rental and maintenance$24,350$9,708$13,376$1,266
Printing and publications$0$0$0$0
Travel$31,284$25,683$2,929$2,672
Conferences, conventions, and meetings$0$0$0$0
Interest$599,201$0$2,866$596,335
Depreciation, depletion, etc.$712,573$0$661,040$51,533
Other expenses not covered above$2,001,380$1,333,725$364,441$303,214
Balance Sheets
20062007
Total assets$32,810,755$28,612,422
Cash - non-interest-bearing$631,221$1,793,783
Savings and temporary cash investments$3,485,009$899,583
Accounts receivable less allowance for doubtful accounts$5,562,072$1,653,277
Pledges receivable less allowance for doubtful accounts$0$0
Grants receivable$296,526$400,514
Receivables from current and former officers, directors, trustees, and key employees$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$355,388$315,776
Investments - publicly-traded securities$0$0
Investments - other securities$0$0
Investments - land, buildings, and equipment less accumulated depreciation$21,512,399$22,224,110
Investments - other$203,687$219,692
Land, buildings, and equipment less accumulated depreciation$0$0
Other assets, including program-related investments$764,453$1,105,687
Total liabilities$17,344,650$13,999,435
Accounts payable and accrued expenses$1,114,888$267,963
Grants payable$0$0
Deferred revenue$1,130,724$842,622
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$15,016,299$12,013,075
Other liabilities$82,739$875,775
Total liabilities and net assets/fund balances$32,810,755$28,612,422
Total net assets or fund balances$15,466,105$14,612,987
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20062007
Total revenue$12,389,458$6,223,862
Total revenue, gains, and other support per audited financial statements$12,595,301$6,278,099
Other expenses$205,843$54,237
Net unrealized gains on investments$0$7,507
Donated services and use of facilities$205,843$46,730
Recoveries of prior year grants$0$0
Other$0$0
Other revenue$0$0
Investment expenses$0$0
Other$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20062007
Total expenses$3,564,116$6,264,826
Total expenses and losses per audited financial statements$3,769,959$7,131,217
Other revenue$205,843$866,391
Donated services and use of facilities$205,843$46,730
Prior year adjustments$0$0
Losses$0$819,661
Other$0$0
Other expenses$0$0
Investment expenses$0$0
Other$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$115,000$16,375$0
40$97,304$11,052$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings36
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200636
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$323,122$1,746,618
Program service revenue
Program service revenue 1000000$000$0$1,108,920
Program service revenue 2000000$000$0$610,721
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$102,253$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$0Income exempt from debt-financed (section 514) provisions because at least 85% of the use of the property is for the organization's exempt purposes (Note: This code is only for income from the 15% or less non-exempt purpose use.) (section 514(b)(1)(A))$62,938$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$112,394$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$45,537$26,977
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$107,059$11,739$0
$70,000$5,355$0
$72,000$9,291$0
$75,000$10,412$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
20052006
Total$4,415,054$12,389,458
Gifts, grants, and contributions received$3,111,655$10,509,517
Membership fees received$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$1,092,074$1,666,172
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$90,397$131,987
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0
Other income$120,928$81,782
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$3,945,757
Contributions, Gifts, Grants and Other Similar Amounts$2,250,772
Program Service Revenue$1,572,581
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,665
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$9,435
Gross income from fundraising events$126,185
Less: direct expenses$116,750
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$111,304
Statement of Functional Expenses (for 2011)
Total functional expenses$5,455,049
Compensation of current officers, directors, trustees, and key employees$125,540
Other salaries and wages$1,516,624
Payroll taxes$113,351
Professional fundraising services$0
Other$3,699,534
Balance Sheet (for 2011)
Total assets$22,056,928
Total liabilities$13,755,592
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$11,269,506
Unsecured notes and loans payable to unrelated third parties$150,000
Other$2,336,086
Total net assets or fund balances$8,301,336
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$20,931,386
Gifts, grants, contributions, and membership fees received$20,580,991
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$350,395
Gross receipts from related activities, etc.$8,619,164
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Roundabout Theatre Company Inc231 West 39th Street, New York, NY 10018-1070NY1965-10$82,042,251
2Royal ShakespeareWarwickshire United Ki Cv37 6bb, United Kingdominternational1981-10$80,229,619
3Vivian Beaumont Theater Inc, Lincoln Center Theater150 West 65th Street, New York, NY 10023-6916NY1979-12$60,582,892
4Walnut Street Theatre Corp825 Walnut St, Philadelphia, PA 19107-5107PA1969-10$17,510,246
5Philadelphia Theatre Company230 S Broad St Ste 1105, Philadelphia, PA 19102-4105PA1982-06$3,607,953
6City Theatre Company Inc57 S 13th St, Pittsburgh, PA 15203-1237PA1988-04$2,985,524
7Pittsburgh Irish And Classical Theatre IncPO BOX 7964, Pittsburgh, PA 15216-0964PA1997-07$1,237,951
8Erie Playhouse & Erie Playhouse Wing13 W 10th St, Erie, PA 16501-1401PA1947-11$972,981
9Plays And Players1714 Delancey St, Philadelphia, PA 19103-6715PA1975-04$362,015
10South Park TheatrePO BOX 133, South Park, PA 15129-0133PA1996-01$157,309
11Pittsburgh Public Theater Corporation621 Penn Ave, Pittsburgh, PA 15222-3204PA1974-09$6,266,665
12Arden Theatre Company40 N 2nd St, Philadelphia, PA 19106-4504PA1989-05$5,479,865
13Bristol Riverside Theater Co IncPO BOX 1250, Bristol, PA 19007-1250PA1987-06$2,367,342
14American Theater Arts For Youth Inc1429 Walnut St Fl 4, Philadelphia, PA 19102-3209PA1973-01$2,140,112
15Pittsburgh Musical Theater327 S Main St, Pittsburgh, PA 15220-5511PA1993-07$934,174
16Civic Theatre Of Allentown Pa527 N 19th St, Allentown, PA 18104-5020PA1957-04$877,560
17Lantern Theater CompanyPO BOX 53428, Philadelphia, PA 19105-3428PA1995-10$800,499
18Act Ii Playhouse Ltd56 E Butler Ave, Ambler, PA 19002-4526PA1999-12$768,012
19Bloomsburg Theatre Ensemble226 Center St, Bloomsburg, PA 17815-1752PA1979-01$741,584
20Interact Inc2030 Sansom St The Adrienne, Philadelphia, PA 19103PA1989-11$702,447
Number of organizations performing similar types of work
Alaska10
Alabama15
Arkansas9
Arizona17
California252
Colorado31
Connecticut39
District of Columbia10
Delaware8
Florida81
Georgia35
Hawaii8
Iowa25
Idaho8
Illinois92
Indiana45
Kansas12
Kentucky25
Louisiana20
Massachusetts75
Maryland31
Maine17
Michigan54
Minnesota44
Missouri28
Mississippi11
Montana7
North Carolina40
North Dakota6
Nebraska14
New Hampshire16
New Jersey63
New Mexico15
Nevada4
New York226
Ohio61
Oklahoma21
Oregon47
Pennsylvania95
Rhode Island11
South Carolina25
South Dakota6
Tennessee14
Texas103
Utah10
Virginia41
Vermont17
Washington57
Wisconsin42
West Virginia6
Wyoming2
International5
Total1,956

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