Civic Intelligence

The Flea Theater Inc.

990 • Fiscal year 2017 • EIN 13-3904262

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 28, 2018

20 Thomas StreetNew York, NY 10007

(212) 226-0051

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

70th percentile

0.18x

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

2017 filings • NTEE A • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

95th percentile

1.42x

Higher debt load relative to revenue than 95% of similar nonprofits.

2017 filings • NTEE A • $10M-$25M nonprofits • Source year 2017

Net Margin

86th percentile

46%

Higher net margin than 86% of similar nonprofits.

2017 filings • NTEE A • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

18th percentile

$70,000

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2017 filings • NTEE A • $10M-$25M nonprofits • Source year 2017

Asset Growth

42nd percentile

3.1%

Faster asset growth than 42% of similar nonprofits.

2017 filings • NTEE A • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

6th percentile

-52%

Faster revenue growth than 6% of similar nonprofits.

2017 filings • NTEE A • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$24,830,019

Up $756,790 (+3.1%) from 2016

Net Assets

Up

$20,350,019

Up $1,462,155 (+7.7%) from 2016

Liabilities

Down

$4,480,000

Down $705,365 (-14%) from 2016

Revenue

Down

$3,154,539

Down $3,476,983 (-52%) from 2016

Expenses

Up

$1,692,384

Up $129,541 (+8.3%) from 2016

Net Income

Down

$1,462,155

Down $3,606,524 (-71%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2010: $6,485,512Liabilities 2010: $200,000Net Assets 2010: $6,285,5122010Assets 2011: $8,298,711Liabilities 2011: $281,513Net Assets 2011: $8,017,1982011Assets 2012: $10,243,539Liabilities 2012: $93,475Net Assets 2012: $10,150,0642012Assets 2013: $11,789,082Liabilities 2013: $140,355Net Assets 2013: $11,648,7272013Assets 2014: $13,939,910Liabilities 2014: $712,704Net Assets 2014: $13,227,2062014Assets 2015: $15,051,262Liabilities 2015: $1,232,077Net Assets 2015: $13,819,1852015Assets 2016: $24,073,229Liabilities 2016: $5,185,365Net Assets 2016: $18,887,8642016Assets 2017: $24,830,019Liabilities 2017: $4,480,000Net Assets 2017: $20,350,0192017Assets 2018: $23,142,142Liabilities 2018: $2,365,561Net Assets 2018: $20,776,5812018Assets 2019: $22,454,040Liabilities 2019: $1,322,760Net Assets 2019: $21,131,2802019Assets 2020: $21,186,032Liabilities 2020: $970,990Net Assets 2020: $20,215,0422020Assets 2021: $20,802,738Liabilities 2021: $906,692Net Assets 2021: $19,896,0462021Assets 2022: $21,324,710Liabilities 2022: $944,162Net Assets 2022: $20,380,5482022Assets 2023: $20,300,939Liabilities 2023: $669,515Net Assets 2023: $19,631,4242023Assets 2024: $18,939,048Liabilities 2024: $658,560Net Assets 2024: $18,280,4882024

Highlighted filing

2017

Assets$24,830,019
Liabilities$4,480,000
Net Assets$20,350,019

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2010: $5,017,338Expenses 2010: $773,224Net Income 2010: $4,244,1142010Revenue 2011: $1,599,381Expenses 2011: $1,126,092Net Income 2011: $473,2892011Expenses 2012: $1,326,0832012Revenue 2013: $2,682,552Expenses 2013: $1,331,489Net Income 2013: $1,351,0632013Revenue 2014: $2,587,303Expenses 2014: $1,382,974Net Income 2014: $1,204,3292014Revenue 2015: $1,808,723Expenses 2015: $1,428,144Net Income 2015: $380,5792015Revenue 2016: $6,631,522Expenses 2016: $1,562,843Net Income 2016: $5,068,6792016Revenue 2017: $3,154,539Expenses 2017: $1,692,384Net Income 2017: $1,462,1552017Revenue 2018: $2,845,851Expenses 2018: $2,419,289Net Income 2018: $426,5622018Revenue 2019: $2,674,130Expenses 2019: $2,319,431Net Income 2019: $354,6992019Revenue 2020: $1,013,526Expenses 2020: $1,929,764Net Income 2020: -$916,2382020Revenue 2021: $1,198,247Expenses 2021: $1,517,243Net Income 2021: -$318,9962021Revenue 2022: $2,372,932Expenses 2022: $1,888,430Net Income 2022: $484,5022022Revenue 2023: $1,316,712Expenses 2023: $2,065,836Net Income 2023: -$749,1242023Revenue 2024: $920,911Expenses 2024: $2,271,848Net Income 2024: -$1,350,9372024

Highlighted filing

2017

Revenue$3,154,539
Expenses$1,692,384
Net Income$1,462,155
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 28, 2018
Return Version
2017v2.2
Gross Receipts
$3,181,785
Mission and Program Overview

Mission

We work to create a culture where Black, brown and queer artists and their audiences can commune, create art on their own terms and live in their full expression and cultural truths. We will support work that is not strictly defined by traditional designations like off-off-Broadway or theater. While we are a NYC based company, we encourage artists to be unbound by geography or physical buildings. We also create opportunities for audiences to deepen their knowledge, practice and interest in experimental art by Black, brown and queer artists.

Founded in 1996, The Flea Theaters mission is simple yet bold: to raise a joyful hell in a small space, representing the best and brightest of what Off-Off-Broadway can be.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,984,560$22,338,989▲ $2,354,429
Pledges and Grants Receivable$3,719,403$1,860,588▼ $1,858,815
Cash and Non-Interest-Bearing Accounts$313,703$437,057▲ $123,354
Savings and Temporary Cash Investments$50,645$173,659▲ $123,014
Prepaid Expenses and Deferred Charges$4,918$19,726▲ $14,808
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$24,073,229$24,830,019▲ $756,790
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,900,000$1,900,000→ $0
Unsecured Notes Loans Payable$2,000,000$1,850,000▼ $150,000
Accounts Payable and Accrued Expenses$1,283,204$727,730▼ $555,474
Deferred Revenue$2,161$2,270▲ $109
Total Liabilities$5,185,365$4,480,000▼ $705,365
Net Assets / Fund Balance
Unrestricted Net Assets$18,795,364$20,164,839▲ $1,369,475
Temporarily Rstr Net Assets$92,500$185,180▲ $92,680
Total Net Assets Fund Balance$18,887,864$20,350,019▲ $1,462,155
Total Liabilities and Net Assets / Fund Balance$24,073,229$24,830,019▲ $756,790

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$21,818,906$284,230$22,103,136
Other Land Buildings$520,083$155,310$675,393
Compensation and Service Providers

Employees

NameTitleBaseTotal
Niegel SmithDir/Artst. Director$70,000$70,000

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Westerman ConstructionConstruction80 8th Avenue, New York, NY 10011$2,169,196
Architecture Research OfficeArchitect170 Varick Street, New York, NY 10013$229,775
Levien & CompanyProject Mgmt.570 Lexington Avenue, New York, NY 10022$165,913
Revenue and Support

Revenue Composition

Contributions and Grants
$2,915,172
Program Service Revenue
$222,651
Investment Income
$335
Other Revenue
$16,381
All Other Contributions
$967,788
Change in Net Assets
$1,462,155

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 Traded2$41,036Fair Market Value (FMV)
Total Noncash Contributions2$41,036-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,154,539
Revenue Not Reported on Form 990
$211,200
Total Revenue per Audited Statements
$3,365,739
Total Revenue per Form 990
$3,154,539
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,145,719
Salaries, Compensation, and Employee Benefits$513,112
Total Fundraising Expense$146,564
Professional Fundraising Fees$33,553
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$295,540$8,627$37,730$341,897
Depreciation Depletion$291,392$32,377-$323,769
Interest$182,420$24,781-$207,201
Occupancy$116,814$3,452$8,155$128,421
Fees for Services Other$120,622$4,250-$124,872
Advertising$65,292$2,545$6,009$73,846
Current Officers, Directors, Trustees, and Key Employees$49,700$11,200$9,100$70,000
Other Employee Benefits$58,070$2,647$6,252$66,969
Insurance$47,003$4,505$5,856$57,364
Fees for Services Professional Fundraising--$33,553$33,553
Payroll Taxes$26,766$1,220$2,882$30,868
Travel$20,734$1,063$1,725$23,522
Office Expenses$15,725$907$2,141$18,773
Fees for Services Legal$11,940$6,739-$18,679
Fees for Services Accounting-$18,558-$18,558
Other Expenses$5,444$104$245$5,793
Pension Plan Contributions$2,929$134$315$3,378
Total Functional Expenses$1,422,458$123,362$146,564$1,692,384

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,903,584
Expenses per Audited Statements$1,692,384
Total Expenses per Form 990$1,692,384
Expenses Not Reported on Form 990$211,200
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$33,553
Fundraising Direct Expenses$27,246
Fundraising Gross Income$27,246

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Other Events$30,400$14,600-$14,600
Grand Opening$105,100$12,646-$12,646
Total Events$135,500$27,246$27,246-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
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, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Michael Graff and Carol Ostrow, director and officer, are husband and wife.

Form 990, Part VI, Line 11B: Form 990 Review Process

Management reviewed a draft of the form 990 with the audit/finance committee and provided edits to the tax prepare. After this process was performed, the form 990 was sent to the full board of directors prior to being filed with the IRS.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The organization has a "board approved" conflicts of interest policy. Each board member must fill out an annual declaration stating they had no conflicts or identifying the nature of their interested party transactions.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Each year, the executive committee reviews comparable salaries based on a recognized study and reviews the performance of the Producing Director/President to determine if the existing salary falls within these ranges. After a deliberation of this matter, a new proposed salary and benefit package is voted on. The minutes of the board of directors reflect the nature of this process.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Each year, the executive committee reviews comparable salaries based on a recognized study and reviews the performance of the Artistic Director to determine if the existing salary falls within these ranges. After a deliberation of this matter, a new proposed salary and benefit package is voted on. The minutes of the board of directors reflect the nature of this process.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Flea Theater does not disclose governing documents to the public.

Filing and Contact Details

Filer

Filer Name
The Flea Theater Inc
EIN
13-3904262
Phone
2122260051
Address
20 Thomas Street, New York, NY 10007

Signing Officer

Name
Carol Ostrow
Title
President
Signed
2018-08-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carol Ostrow
Formed
1996
Legal Domicile
Ny
Voting Board Members
24
Independent Board Members
23
Employees
50
Volunteers
50

Preparer

Firm
Schall & Ashenfarb Cpas
Address
307 5th Ave 15th Floor, NEW YORK, NY 10016-6517
Preparer
Michael Schall
Phone
2122682800
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Flea Theater, Inc. does not believe its financial statements include any material, uncertain tax positions. Tax filings for periods ending December 31, 2014 and later are subject to examination by applicable taxing authorities.

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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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IRS990/MissionDesc0Founded in 1996, The Flea Theaters mission is simple yet bold: to raise a joyful hell in a small space, representing the best and brightest of what Off-Off-Broadway can be. The Flea produces over 250 performances each year, giving voice and opportunity to diverse and innovative writers, directors, actors and designers who have something urgent to say about our world. The Flea is a destination for bold and adventurous theater that sticks, and stays with you long after the performance.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$18.9$0.66$18.3$0.92$2.27$1.35
2023Detailed filing. Detailed filing data is available for this year.$20.3$0.67$19.6$1.32$2.07$0.75
2022Detailed filing. Detailed filing data is available for this year.$21.3$0.94$20.4$2.37$1.89$0.48
2021Detailed filing. Detailed filing data is available for this year.$20.8$0.91$19.9$1.20$1.52$0.32
2020Detailed filing. Detailed filing data is available for this year.$21.2$0.97$20.2$1.01$1.93$0.92
2019Detailed filing. Detailed filing data is available for this year.$22.5$1.32$21.1$2.67$2.32$0.35
2018Detailed filing. Detailed filing data is available for this year.$23.1$2.37$20.8$2.85$2.42$0.43
2017Detailed filing. Detailed filing data is available for this year.$24.8$4.48$20.4$3.15$1.69$1.46
2016Detailed filing. Detailed filing data is available for this year.$24.1$5.19$18.9$6.63$1.56$5.07
2015Detailed filing. Detailed filing data is available for this year.$15.1$1.23$13.8$1.81$1.43$0.38
2014Detailed filing. Detailed filing data is available for this year.$13.9$0.71$13.2$2.59$1.38$1.20
2013Detailed filing. Detailed filing data is available for this year.$11.8$0.14$11.6$2.68$1.33$1.35
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$0.09$10.2$1.33
2011Summary only. Only limited summary data is available for this year.$8.30$0.28$8.02$1.60$1.13$0.47
2010Summary only. Only limited summary data is available for this year.$6.49$0.20$6.29$5.02$0.77$4.24