Civic Intelligence

Maine State Music Theatre

EIN 01-0355212 • 501(c)3 • Brunswick, ME

Profile

To enrich lives through musical theatre.

22 Elm StreetBrunswick, ME 04011

www.msmt.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

65th percentile

0.33x

Higher debt load relative to assets than 65% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

70th percentile

0.54x

Higher debt load relative to revenue than 70% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

27th percentile

-3.2%

Higher net margin than 27% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

63rd percentile

$226,260

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

65th percentile

9.2%

Faster asset growth than 65% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

27th percentile

-3.7%

Faster revenue growth than 27% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$11,209,264

Up $945,219 (+9.2%) from 2023

Liabilities

Up

$3,711,772

Up $608,073 (+20%) from 2023

Net Assets

Up

$7,497,492

Up $337,146 (+4.7%) from 2023

Revenue

Down

$6,917,989

Down $264,392 (-3.7%) from 2023

Expenses

Up

$7,141,262

Up $353,942 (+5.2%) from 2023

Net Income

Down

-$223,273

Down $618,334 (-157%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2010: $3,389,233Liabilities 2010: $789,190Net Assets 2010: $2,600,0432010Assets 2011: $3,462,702Liabilities 2011: $931,788Net Assets 2011: $2,530,9142011Assets 2012: $3,390,706Liabilities 2012: $1,013,110Net Assets 2012: $2,377,5962012Assets 2013: $3,833,393Liabilities 2013: $1,126,949Net Assets 2013: $2,706,4442013Assets 2014: $4,203,808Liabilities 2014: $1,080,918Net Assets 2014: $3,122,8902014Assets 2015: $5,134,996Liabilities 2015: $1,278,012Net Assets 2015: $3,856,9842015Assets 2016: $5,959,803Liabilities 2016: $1,678,346Net Assets 2016: $4,281,4572016Assets 2017: $6,615,082Liabilities 2017: $1,728,784Net Assets 2017: $4,886,2982017Assets 2018: $7,056,732Liabilities 2018: $1,904,803Net Assets 2018: $5,151,9292018Assets 2019: $7,735,147Liabilities 2019: $2,185,609Net Assets 2019: $5,549,5382019Assets 2020: $7,434,434Liabilities 2020: $1,934,577Net Assets 2020: $5,499,8572020Assets 2021: $9,190,457Liabilities 2021: $2,943,347Net Assets 2021: $6,247,1102021Assets 2022: $9,197,603Liabilities 2022: $2,598,104Net Assets 2022: $6,599,4992022Assets 2023: $10,264,045Liabilities 2023: $3,103,699Net Assets 2023: $7,160,3462023Assets 2024: $11,209,264Liabilities 2024: $3,711,772Net Assets 2024: $7,497,4922024

Highlighted filing

2024

Assets$11,209,264
Liabilities$3,711,772
Net Assets$7,497,492

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,546,4832010Expenses 2011: $2,536,2632011Expenses 2012: $3,007,7542012Revenue 2013: $3,378,064Expenses 2013: $3,057,389Net Income 2013: $320,6752013Revenue 2014: $3,735,106Expenses 2014: $3,381,058Net Income 2014: $354,0482014Revenue 2015: $4,188,353Expenses 2015: $3,479,907Net Income 2015: $708,4462015Revenue 2016: $4,431,972Expenses 2016: $3,993,717Net Income 2016: $438,2552016Revenue 2017: $4,822,444Expenses 2017: $4,349,980Net Income 2017: $472,4642017Revenue 2018: $5,025,488Expenses 2018: $4,810,823Net Income 2018: $214,6652018Revenue 2019: $5,337,013Expenses 2019: $5,119,582Net Income 2019: $217,4312019Revenue 2020: $2,129,557Expenses 2020: $2,257,162Net Income 2020: -$127,6052020Revenue 2021: $4,143,625Expenses 2021: $3,758,569Net Income 2021: $385,0562021Revenue 2022: $6,493,645Expenses 2022: $5,575,016Net Income 2022: $918,6292022Revenue 2023: $7,182,381Expenses 2023: $6,787,320Net Income 2023: $395,0612023Revenue 2024: $6,917,989Expenses 2024: $7,141,262Net Income 2024: -$223,2732024

Highlighted filing

2024

Revenue$6,917,989
Expenses$7,141,262
Net Income-$223,273

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.2$3.71$7.50$6.92$7.14$0.22
2023Detailed filing. Detailed filing data is available for this year.$10.3$3.10$7.16$7.18$6.79$0.40
2022Detailed filing. Detailed filing data is available for this year.$9.20$2.60$6.60$6.49$5.58$0.92
2021Detailed filing. Detailed filing data is available for this year.$9.19$2.94$6.25$4.14$3.76$0.39
2020Detailed filing. Detailed filing data is available for this year.$7.43$1.93$5.50$2.13$2.26$0.13
2019Detailed filing. Detailed filing data is available for this year.$7.74$2.19$5.55$5.34$5.12$0.22
2018Detailed filing. Detailed filing data is available for this year.$7.06$1.90$5.15$5.03$4.81$0.21
2017Detailed filing. Detailed filing data is available for this year.$6.62$1.73$4.89$4.82$4.35$0.47
2016Detailed filing. Detailed filing data is available for this year.$5.96$1.68$4.28$4.43$3.99$0.44
2015Detailed filing. Detailed filing data is available for this year.$5.13$1.28$3.86$4.19$3.48$0.71
2014Detailed filing. Detailed filing data is available for this year.$4.20$1.08$3.12$3.74$3.38$0.35
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.83$1.13$2.71$3.38$3.06$0.32
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.39$1.01$2.38$3.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.46$0.93$2.53$2.54
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.39$0.79$2.60$2.55
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Nov 1, 2023 to Oct 31, 2024
Signed
May 23, 2025
Return Version
2023v6.0
Gross Receipts
$8,231,934
Mission and Program Overview

Mission

To offer engaging, live professional performances and educational outreach opportunities that entertain, educate and enrich lives with power and passion

To enrich lives through musical theatre.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,011,606$5,415,431▲ $1,403,825
Investments in Publicly Traded Securities$3,301,349$3,413,978▲ $112,629
Savings and Temporary Cash Investments$1,606,695$981,956▼ $624,739
Cash and Non-Interest-Bearing Accounts$305,257$570,185▲ $264,928
Prepaid Expenses and Deferred Charges$118,659$543,561▲ $424,902
Accounts Receivable$626,534$159,024▼ $467,510
Pledges and Grants Receivable$13,500$10,000▼ $3,500
Total Assets$10,264,045$11,209,264▲ $945,219
Other Assets Total$280,445$115,129▼ $165,316
Liabilities
Deferred Revenue$2,216,337$3,041,534▲ $825,197
Mortgage Notes Payable Secured by Investment Property$511,341$478,078▼ $33,263
Other Liabilities$198,984$126,179▼ $72,805
Accounts Payable and Accrued Expenses$177,037$65,981▼ $111,056
Total Liabilities$3,103,699$3,711,772▲ $608,073
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,020,590$7,372,105▲ $351,515
Net Assets With Donor Restrictions$139,756$125,387▼ $14,369
Total Net Assets Fund Balance$7,160,346$7,497,492▲ $337,146
Total Liabilities and Net Assets / Fund Balance$10,264,045$11,209,264▲ $945,219

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,052,043$1,950,608$6,002,651
Equipment$522,341$1,122,434$1,644,775
Other Land Buildings$114,080$1,365,928$1,480,008
Land$549,490-$549,490
Leasehold Improvements$177,477$46,093$223,570

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$1,032,157-▲ $202,561-$1,226,411
2023$974,393$10,013▲ $54,936-$1,032,157
2022$2,915,704$3,513,578▼ $487,851$1,020,056$4,901,244
2021$3,122,525$948,379▲ $412,227$1,551,305$2,915,704
2020$2,679,846$1,843,390▲ $131,594$1,519,970$3,122,525
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Curt Dale ClarkArtistic DirectorFT$201,321$24,939$226,260
Stephanie DupalManaging DirectorFT$170,090$20,040$190,130
Revenue and Support

Revenue Composition

Contributions and Grants
$1,408,181
Program Service Revenue
$5,231,154
Investment Income
$134,738
Other Revenue
$143,916
All Other Contributions
$1,291,482
Change in Net Assets
$-223,273

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded4$70,167Fair Market Value (FMV)
Clothing and Household Goods-$41,641Fair Market Value (FMV)
Other Non Cash Contri Table1$23,431Fair Market Value (FMV)
Other Non Cash Contri Table1$50Fair Market Value (FMV)
Total Noncash Contributions6$135,289-

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,892,615
Revenue Not Reported on Financial Statements
$25,374
Revenue Not Reported on Form 990
$1,015,766
Other Revenue Adjustments
$4
Total Revenue per Audited Statements
$7,908,381
Total Revenue per Form 990
$6,917,989
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,944,666
Salaries, Compensation, and Employee Benefits$3,196,596
Total Fundraising Expense$436,378
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,784,314$395,332$67,431$2,247,077
Occupancy$366,261$163,516-$529,777
Current Officers, Directors, Trustees, and Key Employees$364,824$84,331$14,669$463,824
Advertising$435,715$4,800$7,057$447,572
Royalties$424,446--$424,446
Travel$84,592$71,737$254,046$410,375
Depreciation Depletion$152,301$130,341-$282,642
Office Expenses$91,670$140,777$45,538$277,985
Other Employee Benefits$165,175$54,530$10,760$230,465
Payroll Taxes$179,421$40,881$6,813$227,115
Insurance$24,871$108,338-$133,209
Other Expenses$125,572$2,379$24,989$127,951
Information Technology-$57,303-$57,303
Fees for Services Accounting-$39,550-$39,550
Pension Plan Contributions$20,150$6,652$1,313$28,115
Fees for Service Investment Mgmnt Fees-$25,370-$25,370
All Other Expenses$4,730$10,272$2,000$17,002
Fees for Services Legal-$5,177-$5,177
Fees for Services Other--$1,762$1,762
Total Functional Expenses$5,363,243$1,341,641$436,378$7,141,262

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,571,239
Total Expenses per Form 990$7,141,262
Expenses per Audited Statements$7,115,891
Expenses Not Reported on Form 990$455,348
Expenses Not Reported on Financial Statements$25,371
Other Expense Adjustments$1
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$178,835
Fundraising Direct Expenses$91,861
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Msmt Gala$188,953$129,050$2,397$126,653
Yard Sale$83,282$41,641$42,137$-496
Total Events$280,379$178,835$91,861$86,974
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Husband to AdProduction CostsNo$76,770
-Husband to AdProduction RevenuesNo$15,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Current Portion of Lease Liability$67,163
Lease Liability - Operating Lease$34,064
Security Deposit - Costume Rental$24,152
Security Deposits - Summer Staff$800
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A draft of the form 990 is provided to the treasurer of the board of directors to review before it is signed and filed with the internal revenue service.

Form 990, Page 6, Part VI, Line 12C

Management and board monitors compliance with the conflict of interest policy during daily operations and at monthly meetings.

Form 990, Page 6, Part VI, Line 15A

The board deliberates over qualifications and salary of officers, using comparability data and using define job requirements. Approval of salary rests with the board.

Form 990, Page 6, Part VI, Line 15B

The board deliberates over qualifications and salary of officers, using comparability data and using define job requirements. Approval of salary rests with the board.

Form 990, Page 6, Part VI, Line 19

The organization's form 990 is available on the website www.guidestar.org. The organization's form 1023, governing documents, conflicts of interest policy, and financial statements are available upon request at the organization's office in brunswick, me.

Filing and Contact Details

Filer

Filer Name
Maine State Music Theatre
EIN
01-0355212
Phone
2077258760
Address
22 ELM STREET, BRUNSWICK, ME 04011

Signing Officer

Name
Stephanie Dupal
Title
Managing Director
Phone
2077250102
Signed
2025-05-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephanie Dupal
Formed
1958
Legal Domicile
Me
Voting Board Members
24
Independent Board Members
24
Employees
203
Volunteers
250

Preparer

Firm
One River Cpas
Address
46 FIRSTPARK DRIVE, OAKLAND, ME 04963-5362
Preparer
Brett R Jensen CPA
Phone
2078731603
Supplemental Narrative

Additional Explanations

Form 990

Schedule d, part v, endowment funds. The beginning balance for prior year year does not reconcile with two year back's closing balance. Previously, maine state music theatre had classified board-designated funds not part of a quasi-endowment as endowments. Effective the prior year year and in future reporting, only actual endowment funds will be reported on this schedule.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Board designated funds are intended to be invested in assets that will help the organization meet liquidity needs, provide income, and to foster long- term growth. The organization has an investment policy that specifies the allowed types of investments for each fund, the purpose of each fund, and each fund's spending policies.

Schedule D, Page 3, Part X

Management assesses its potential tax liability arising from unrelated business income annually and recognizes the tax expense, if any, in the year incurred. The theatre does not believe it has done anything during the past year that would jeopardize its tax-exempt status. The theatre reports its activities to the internal revenue service in an annual federal return of organization exempt from income tax (form 990 and an exempt organization business income tax return, form 990-t). These filings are generally subject to review by the tax authorities for three years after they have been filed.

Schedule D, Page 4, Part XI, Line 2D

Rental expenses 335,169 fundraising expenses 50,221

Schedule D, Page 4, Part XI, Line 4B

ROUNDING 4

Schedule D, Page 4, Part XII, Line 2D

Rental expenses 200,176 special events expenses 50,221 rental taxes 31,042 rental depreciation 90,864 rental interest 13,087 rounding 1

Schedule D, Page 4, Part XII, Line 4B

Book / tax depreciation difference 1

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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