Civic Intelligence

Theatre Development Fund Inc.

990 • Fiscal year 2025 • EIN 13-6216919

Jul 01, 2024 to Jun 30, 2025 • Filed on Dec 19, 2025

520 Eighth AvenueNew York, NY 10018

(212) 912-9770

Siviq Scores

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

Liabilities / Assets

76th percentile

0.46x

Higher debt load relative to assets than 76% of similar nonprofits.

2025 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2025

Liabilities / Revenue

63rd percentile

0.39x

Higher debt load relative to revenue than 63% of similar nonprofits.

2025 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2025

Net Margin

46th percentile

4.5%

Higher net margin than 46% of similar nonprofits.

2025 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2025

Top Officer Pay

80th percentile

$369,600

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2025 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2025

Asset Growth

60th percentile

7.6%

Faster asset growth than 60% of similar nonprofits.

2025 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Revenue Growth

72nd percentile

17%

Faster revenue growth than 72% of similar nonprofits.

2025 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Assets

Up

$17,386,989

Up $1,227,053 (+7.6%) from 2024

Net Assets

Up

$9,367,322

Up $1,304,448 (+16%) from 2024

Liabilities

Down

$8,019,667

Down $77,395 (-1.0%) from 2024

Revenue

Up

$20,416,435

Up $2,961,266 (+17%) from 2024

Expenses

Up

$19,502,342

Up $2,047,077 (+12%) from 2024

Net Income

Up

$914,093

Up $914,189 (+952280%) from 2024

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2011: $11,523,375Liabilities 2011: $3,840,330Net Assets 2011: $7,683,0452011Assets 2012: $12,309,930Liabilities 2012: $5,543,497Net Assets 2012: $6,766,4332012Assets 2013: $11,831,421Liabilities 2013: $4,394,364Net Assets 2013: $7,437,0572013Assets 2014: $11,750,334Liabilities 2014: $3,608,757Net Assets 2014: $8,141,5772014Assets 2015: $11,586,203Liabilities 2015: $4,156,154Net Assets 2015: $7,430,0492015Assets 2016: $12,434,325Liabilities 2016: $5,406,438Net Assets 2016: $7,027,8872016Assets 2017: $12,798,469Liabilities 2017: $5,373,710Net Assets 2017: $7,424,7592017Assets 2018: $11,224,669Liabilities 2018: $4,389,372Net Assets 2018: $6,835,2972018Assets 2019: $11,466,282Liabilities 2019: $4,243,327Net Assets 2019: $7,222,9552019Assets 2020: $10,590,024Liabilities 2020: $5,988,481Net Assets 2020: $4,601,5432020Assets 2021: $11,719,281Liabilities 2021: $5,318,681Net Assets 2021: $6,400,6002021Assets 2022: $10,654,511Liabilities 2022: $4,240,768Net Assets 2022: $6,413,7432022Assets 2023: $17,206,910Liabilities 2023: $9,227,480Net Assets 2023: $7,979,4302023Assets 2024: $16,159,936Liabilities 2024: $8,097,062Net Assets 2024: $8,062,8742024Assets 2025: $17,386,989Liabilities 2025: $8,019,667Net Assets 2025: $9,367,3222025

Highlighted filing

2025

Assets$17,386,989
Liabilities$8,019,667
Net Assets$9,367,322

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2011: $13,633,1352011Expenses 2012: $15,014,6852012Expenses 2013: $14,844,8072013Revenue 2014: $15,088,886Expenses 2014: $15,216,871Net Income 2014: -$127,9852014Revenue 2015: $14,778,869Expenses 2015: $15,181,605Net Income 2015: -$402,7362015Revenue 2016: $16,746,823Expenses 2016: $16,068,156Net Income 2016: $678,6672016Revenue 2017: $16,861,794Expenses 2017: $17,603,226Net Income 2017: -$741,4322017Revenue 2018: $17,726,215Expenses 2018: $18,610,623Net Income 2018: -$884,4082018Revenue 2019: $20,098,157Expenses 2019: $18,550,589Net Income 2019: $1,547,5682019Revenue 2020: $15,087,127Expenses 2020: $16,918,322Net Income 2020: -$1,831,1952020Revenue 2021: $6,521,233Expenses 2021: $7,123,915Net Income 2021: -$602,6822021Revenue 2022: $12,739,705Expenses 2022: $11,631,988Net Income 2022: $1,107,7172022Revenue 2023: $16,330,909Expenses 2023: $15,608,225Net Income 2023: $722,6842023Revenue 2024: $17,455,169Expenses 2024: $17,455,265Net Income 2024: -$962024Revenue 2025: $20,416,435Expenses 2025: $19,502,342Net Income 2025: $914,0932025

Highlighted filing

2025

Revenue$20,416,435
Expenses$19,502,342
Net Income$914,093
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Dec 19, 2025
Return Version
2024v5.1
Gross Receipts
$28,782,029
Mission and Program Overview

Mission

Theatre development fund, a not-for-profit service organization, was created with the conviction that the live theatrical arts afford a unique expression of the human condition that must be sustained and nurtured. Tdf's twofold mission is to identify and provide support, including financial assistance, to theatrical works of artistic merit, and to encourage and enable diverse audiences to attend live theatre and dance in all their venues.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$8,519,537$9,318,355▲ $798,818
Savings and Temporary Cash Investments$1,408,685$2,223,167▲ $814,482
Land, Buildings, and Equipment, Net$962,013$1,097,255▲ $135,242
Pledges and Grants Receivable$381,068$661,203▲ $280,135
Cash and Non-Interest-Bearing Accounts$605,913$614,557▲ $8,644
Prepaid Expenses and Deferred Charges$396,516$443,765▲ $47,249
Accounts Receivable$108,568$116,370▲ $7,802
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$16,159,936$17,386,989▲ $1,227,053
Other Assets Total$3,777,636$2,912,317▼ $865,319
Liabilities
Other Liabilities$5,657,739$4,445,406▼ $1,212,333
Accounts Payable and Accrued Expenses$2,289,737$3,347,136▲ $1,057,399
Deferred Revenue$149,586$227,125▲ $77,539
Total Liabilities$8,097,062$8,019,667▼ $77,395
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,977,322$7,729,745▲ $752,423
Net Assets With Donor Restrictions$1,085,552$1,637,577▲ $552,025
Total Net Assets Fund Balance$8,062,874$9,367,322▲ $1,304,448
Total Liabilities and Net Assets / Fund Balance$16,159,936$17,386,989▲ $1,227,053

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$506,256$2,158,816$2,665,072
Other Land Buildings$364,581$1,093,716$1,458,297
Equipment$226,418$266,347$492,765
Other Assets Org$2,912,317--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$330,372-▲ $12,931-$343,303
2023$305,523-▲ $24,849-$330,372
2022$298,000-▲ $7,523-$305,523
2021$298,000---$298,000
2020$296,000$2,000--$298,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Deeksha GaurExecutive DirectorFT$296,799$72,801$369,600
Michael NaumannManaging DirectorFT$267,033$49,708$316,741
Julian ChristenberryDirector, Ticketing ProgramsFT$190,561$58,741$249,302
Owen WilesVice-president, Finance & AdministrationFT$177,953$61,572$239,525
William RoederTkts Head TreasurerFT$155,261$74,008$229,269
Whitney EstrinVice-president, DevelopmentFT$170,943$53,626$224,569
Tymand StaggsVice-president, TechnologyFT$172,122$39,381$211,503
Stephen CabralVice-president, Tdf Costume CollectionFT$151,787$35,651$187,438

Board Members and Trustees

NameTitle
Gwen MarcusChairperson
Robert FriedTreasurer/vice Chairperson
Hector LozadaVice-chairperson
Ari TeplitzTrustee
Carol Wood MooreTrustee
Dillan ArrickTrustee
Donna WilliamsTrustee
Earl D WeinerTrustee
Eileen SilversTrustee
Holly CohenTrustee
Holly HynesTrustee
Jacqueline LicalziTrustee
Jane Shin ParkTrustee
Joseph GiraldiTrustee
Laurie ErlandsonTrustee
Mary GoodTrustee
Meg HerrmanTrustee
Nicole HartTrustee
Penny PetersTrustee
Ruth SarfatyTrustee
Sandra DanzigerTrustee
Sandra WishnickTrustee
THOMAS O'CONNORTrustee
Terry FitzpatrickTrustee
Veena MosurTrustee
Amy ChinSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$4,477,171
Program Service Revenue
$14,438,781
Investment Income
$945,387
Other Revenue
$555,096
All Other Contributions
$3,897,666
Change in Net Assets
$914,093

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,416,435
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$20,416,435
Total Revenue per Form 990
$20,416,435
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,992,894
Other Expenses$8,364,948
Total Fundraising Expense$1,571,280
Grants and Similar Amounts Paid$144,500
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,146,273$602,756$588,015$7,337,044
Other Employee Benefits$1,556,131$184,790$135,527$1,876,448
Office Expenses$1,489,867$125,641$163,813$1,779,321
Occupancy$1,060,880$313,698$43,335$1,417,913
Fees for Services Other$380,251$371,361$218,515$970,127
Current Officers, Directors, Trustees, and Key Employees$183,562$534,977$207,327$925,866
Payroll Taxes$584,021$98,064$62,440$744,525
Advertising$487,630$9,778$13,282$510,690
All Other Expenses$277,264$99,375$94,297$470,936
Information Technology$340,173$74,963$17,986$433,122
Depreciation Depletion$231,880$8,687$14,768$255,335
Other Expenses$202,975$294,001$1$202,975
Insurance$123,697$27,851$3,460$155,008
Grants to Domestic Orgs$144,500--$144,500
Pension Plan Contributions$101,770$0$7,241$109,011
Fees for Services Accounting-$94,672-$94,672
Fees for Services Lobbying-$60,000-$60,000
Travel$46,753$937$1,273$48,963
Fees for Services Legal-$22,637-$22,637
Total Functional Expenses$15,006,767$2,924,295$1,571,280$19,502,342

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$19,502,342
Total Expenses per Audited Statements$19,502,342
Total Expenses per Form 990$19,502,342
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$411,968
Fundraising Direct Expenses$108,455
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Broadway Breakfast (Gala)$411,968$411,968$52,006$359,962
Event 2-$0-$0
Total Events$411,968$411,968$108,455$303,513
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advanced Ticket Revenue$3,489,986
Federal Income Taxes$955,420
Lease Liability$0
Accrued Pension-
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 35% controlled entity
No
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 1A Delegate broad authority to A committee

The executive committee consists of the board chair, board officers, board committee chairs, and former board chairs. The executive committee may act on behalf of the full board of trustees, however the board of trustees may rescind or change actions taken by the executive committee.

Form 990, Part VI, Line 11B Review of form 990 by governing body

Form 990 was reviewed by management and the finance committee, and then distributed to all members of the board of trustees prior to filing. If any issues arise or if changes are needed, these changes are brought to the attention of management; tdf's tax preparers make any necessary changes.

Form 990, Part VI, Line 12C Conflict of interest policy

The conflict of interest policy is distributed annually to all board and senior staff members, who must return a signed form indicating compliance with the policy. Completed forms are reviewed by management, and any transactions involving a potential conflict of interest are to be considered by the board of trustees and handled appropriately.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The covered individuals of the organization referenced in this section includes officers, directors, and key employees who received compensation. Whenever the compensation for any of these positions is proposed to be increased in an amount exceeding the approximate amount of the annual increase in the cost of living, the deliberation on such increase includes a review by tdf's finance committee, or subset thereof, which is made up of independent persons. After such review, the compensation increase is included in the budget presented to and approved by the board. This process was conducted in spring of 2024 and again in spring of 2025. Compensation is reviewed against industry standards on an ongoing basis, including in 2024 and 2025.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

The covered individuals of the organization referenced in this section includes officers, directors, and key employees who received compensation. Whenever the compensation for any of these positions is proposed to be increased in an amount exceeding the approximate amount of the annual increase in the cost of living, the deliberation on such increase includes a review by tdf's finance committee, or subset thereof, which is made up of independent persons. After such review, the compensation increase is included in the budget presented to and approved by the board. This process was conducted in spring of 2024 and again in spring of 2025. Compensation is reviewed against industry standards on an ongoing basis, including in 2024 and 2025.

Form 990, Part VI, Line 19 Required documents available to the public

Tdf's financial statements and form(s) 990 can be found on tdf's website.

Form 990, Part VIII, Line 2F Other Program Service Revenue

OTHER - Total Revenue: 457622, Related or Exempt Function Revenue: 457622, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;

Filing and Contact Details

Filer

Filer Name
Theatre Development Fund Inc
EIN
13-6216919
Phone
2129129770
Address
520 EIGHTH AVENUE, NEW YORK, NY 10018

Signing Officer

Name
Michael Naumann
Title
Managing Director
Phone
2129129770
Signed
2025-12-19
Discuss with paid preparer
Yes

Organization Details

Formed
1967
Legal Domicile
Ny
Voting Board Members
26
Independent Board Members
26
Employees
155
Volunteers
26

Preparer

Firm
Forvis Mazars LLP
Address
135 West 50th Street, New York, NY 10020
Preparer
Aaron Shapiro
Phone
2128127000
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

Theatre development fund, inc.(tdf), a not-for-profit organization founded in 1967 to promote the performing arts, is a broadly-oriented service and advocacy organization dedicated to bringing the power of the performing arts to everyone. Tdf's activities fall into three areas. Tdf expands access, making the performing arts accessible to all by removing cultural, physical and financial barriers. Tdf cultivates communities of theatergoers, by engaging, educating and encouraging people to make the performing arts an essential part of their lives. Tdf supports theatre makers and sustains creators and advances the industry through convenings, research, and the tdf costume collection. Through its programs, tdf brings theatre into the lives of over 1,000,000 people per year. Tdf's efforts are primarily focused in new york, but it has also been involved in audience development efforts for the performing arts across the united states and, on a limited basis, internationally.

Form 990, Part III, Line 1 Organization'S Mission

Theatre development fund, inc. (tdf), a not-for profit organization founded in 1967 to promote the performing arts, is a broadly oriented service and advocacy organization dedicated to bringing the power of the performing arts to everyone. Tdf's activities fall into three areas. Tdf expands access, making the performing arts accessible to all by removing cultural, physical and financial barriers. Tdf cultivates communities of theatergoers, by engaging, educating and encouraging people to make the performing arts an essential part of their lives. Tdf supports theatre makers and sustains creators and advances the industry through convenings, research, and the tdf costume collection. Through its programs, tdf brings theatre into the lives of over 1,000,000 people per year. Tdf's efforts are primarily focused in new york, but it has also been involved in audience development efforts for the performing arts across the united states and, on a limited basis, internationally.

Form 990, Part III, Line 4A-4C Description of program services

(Expenses $ 1,877,526 including grants of $ 144,500)(Revenue $ 442,779) TDF ACCESSIBILITY PROGRAMS

Form 990, Part III, Line 4A-4C Description of program services

(Expenses $ 1,835,754 including grants of $ 0)(Revenue $ 955,358) TDF COSTUME COLLECTION

Form 990, Part III, Line 4A-4C Description of program services

(Expenses $ 1,078,159 including grants of $ 0)(Revenue $ 16,471) DIGITAL STRATEGY & JOURNALISM

Form 990, Part III, Line 4A-4C Description of program services

(Expenses $ 903,645 including grants of $ 0)(Revenue $ 0) OUTREACH AND PUBLIC RELATIONS

Form 990, Part III, Line 4A-4C Description of program services

(Expenses $ 117,621 including grants of $ 0)(Revenue $ 0) AUDIENCE RESEARCH

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

PENSION-RELATED CHANGES OTHER THAN PERIODIC PENSION COST - 390355; Total - 390355;

Financial Statement Notes

Schedule D, Part V, Line 4

Tdf launched a campaign to permanently fund the wendy wasserstein project, a theatre education mentoring program for new york city high school students.

Schedule D, Part X, Line 2

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

Schedule D, Part V, Line 4 Intended uses of endowment funds

TDF launched a campaign to fund an endowment for the Wendy Wasserstein Project, a theatre education mentoring program for New York City high school students.

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IRS990/Desc0TKTS BY TDF - THE TKTS TICKET BOOTHS SUPPORT TDF'S MISSION OF ENCOURAGING AND ENABLING DIVERSE AUDIENCES TO ATTEND THEATRE AND DANCE. THE TKTS BOOTHS, STARTING IN 1973 WITH ONE AND AT JUNE 30, 2025, NUMBERING TWO, SELL APPROXIMATELY 630,000 SAME-DAY DISCOUNTED TICKETS ANNUALLY TO BROADWAY AND OFF-BROADWAY THEATRE AND DANCE PERFORMANCES. TKTS ENABLES THEATREGOERS WHO CANNOT AFFORD FULL PRICE TICKETS TO ATTEND THEATRE, WHICH IN TURN SIGNIFICANTLY INCREASES ATTENDANCE.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$17.4$8.02$9.37$20.4$19.5$0.91
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.2$8.10$8.06$17.5$17.5$0.00
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.2$9.23$7.98$16.3$15.6$0.72
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.7$4.24$6.41$12.7$11.6$1.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.7$5.32$6.40$6.52$7.12$0.60
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.6$5.99$4.60$15.1$16.9$1.83
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.5$4.24$7.22$20.1$18.6$1.55
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.2$4.39$6.84$17.7$18.6$0.88
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.8$5.37$7.42$16.9$17.6$0.74
2016Detailed filing. Detailed filing data is available for this year.$12.4$5.41$7.03$16.7$16.1$0.68
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.6$4.16$7.43$14.8$15.2$0.40
2014Detailed filing. Detailed filing data is available for this year.$11.8$3.61$8.14$15.1$15.2$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.8$4.39$7.44$14.8
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.3$5.54$6.77$15.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.5$3.84$7.68$13.6
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2025 filings • NTEE A • $25M-$50M nonprofits