Civic Intelligence

Trinity Repertory Company

990 • Fiscal year 2021 • EIN 22-2547262

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 30, 2021

201 Washington StreetProvidence, RI 02903-3297

(401) 521-1100

Siviq Scores

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

Liabilities / Assets

64th percentile

0.31x

Higher debt load relative to assets than 64% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

75th percentile

0.70x

Higher debt load relative to revenue than 75% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

82nd percentile

41%

Higher net margin than 82% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

55th percentile

$185,504

Higher top officer pay than 55% of similar nonprofits.

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

81st percentile

28%

Faster asset growth than 81% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

14th percentile

-15%

Faster revenue growth than 14% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Up

$19,294,087

Up $4,271,942 (+28%) from 2020

Net Assets

Up

$13,302,953

Up $4,481,653 (+51%) from 2020

Liabilities

Down

$5,991,134

Down $209,711 (-3.4%) from 2020

Revenue

Down

$8,544,962

Down $1,488,246 (-15%) from 2020

Expenses

Down

$5,043,036

Down $4,072,219 (-45%) from 2020

Net Income

Up

$3,501,926

Up $2,583,973 (+281%) from 2020

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $12,916,810Liabilities 2010: $5,604,767Net Assets 2010: $7,312,0432010Assets 2011: $12,979,666Liabilities 2011: $5,723,257Net Assets 2011: $7,256,4092011Assets 2012: $12,597,840Liabilities 2012: $5,357,418Net Assets 2012: $7,240,4222012Assets 2013: $11,122,602Liabilities 2013: $4,554,694Net Assets 2013: $6,567,9082013Assets 2014: $9,779,843Liabilities 2014: $5,548,123Net Assets 2014: $4,231,7202014Assets 2015: $10,377,684Liabilities 2015: $5,378,408Net Assets 2015: $4,999,2762015Assets 2016: $8,853,173Liabilities 2016: $4,582,995Net Assets 2016: $4,270,1782016Assets 2017: $10,273,854Liabilities 2017: $5,084,994Net Assets 2017: $5,188,8602017Assets 2018: $11,940,607Liabilities 2018: $4,740,227Net Assets 2018: $7,200,3802018Assets 2019: $13,109,210Liabilities 2019: $5,092,647Net Assets 2019: $8,016,5632019Assets 2020: $15,022,145Liabilities 2020: $6,200,845Net Assets 2020: $8,821,3002020Assets 2021: $19,294,087Liabilities 2021: $5,991,134Net Assets 2021: $13,302,9532021Assets 2022: $19,717,824Liabilities 2022: $3,256,167Net Assets 2022: $16,461,6572022Assets 2023: $20,064,080Liabilities 2023: $3,747,472Net Assets 2023: $16,316,6082023

Highlighted filing

2021

Assets$19,294,087
Liabilities$5,991,134
Net Assets$13,302,953

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $8,010,1942010Expenses 2011: $8,478,9052011Expenses 2012: $8,497,9452012Revenue 2013: $7,282,252Expenses 2013: $8,142,793Net Income 2013: -$860,5412013Revenue 2014: $6,262,207Expenses 2014: $8,849,063Net Income 2014: -$2,586,8562014Revenue 2015: $9,272,941Expenses 2015: $8,535,655Net Income 2015: $737,2862015Revenue 2016: $8,533,120Expenses 2016: $9,179,760Net Income 2016: -$646,6402016Revenue 2017: $9,503,271Expenses 2017: $8,995,085Net Income 2017: $508,1862017Revenue 2018: $11,114,910Expenses 2018: $9,185,193Net Income 2018: $1,929,7172018Revenue 2019: $10,334,152Expenses 2019: $9,532,567Net Income 2019: $801,5852019Revenue 2020: $10,033,208Expenses 2020: $9,115,255Net Income 2020: $917,9532020Revenue 2021: $8,544,962Expenses 2021: $5,043,036Net Income 2021: $3,501,9262021Revenue 2022: $12,551,858Expenses 2022: $8,753,015Net Income 2022: $3,798,8432022Revenue 2023: $9,271,128Expenses 2023: $9,658,762Net Income 2023: -$387,6342023

Highlighted filing

2021

Revenue$8,544,962
Expenses$5,043,036
Net Income$3,501,926
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 30, 2021
Return Version
2020v4.1
Gross Receipts
$8,940,505
Mission and Program Overview

Mission

To reinvent the "public square" with dramatic art that stimulates, educates and engages the diverse community in a continuing dialogue through stage productions, a resident acting company, graduate training programs, lifelong learning, and k-12 education programs.

To reinvent the "public square" with dramatic art that stimulates, educates and engages the diverse community in a continuing dialogue.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,592,496$5,581,965▼ $10,531
Savings and Temporary Cash Investments$3,481,398$4,820,854▲ $1,339,456
Investments Program Related$3,221,920$4,556,350▲ $1,334,430
Cash and Non-Interest-Bearing Accounts$1,942,579$2,172,304▲ $229,725
Loans From Officers Directors$1,516,322$1,477,108▼ $39,214
Investments in Publicly Traded Securities$171,933$1,176,931▲ $1,004,998
Pledges and Grants Receivable$544,603$583,286▲ $38,683
Accounts Receivable$0$294,098▲ $294,098
Prepaid Expenses and Deferred Charges$59,516$104,249▲ $44,733
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Total Assets$15,022,145$19,294,087▲ $4,271,942
Other Assets Total$7,700$4,050▼ $3,650
Liabilities
Deferred Revenue$1,974,577$2,029,138▲ $54,561
Unsecured Notes Loans Payable$1,230,200$1,226,572▼ $3,628
Mortgage Notes Payable Secured by Investment Property$1,310,223$1,056,232▼ $253,991
Accounts Payable and Accrued Expenses$151,076$183,058▲ $31,982
Other Liabilities$18,447$19,026▲ $579
Grants Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$6,200,845$5,991,134▼ $209,711
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,850,793$7,690,276▲ $2,839,483
Net Assets With Donor Restrictions$3,970,507$5,612,677▲ $1,642,170
Total Net Assets Fund Balance$8,821,300$13,302,953▲ $4,481,653
Total Liabilities and Net Assets / Fund Balance$15,022,145$19,294,087▲ $4,271,942

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,955,652$6,071,242$9,026,894
Leasehold Improvements$1,837,740$563,332$2,401,072
Other Land Buildings$503,962$1,089,607$1,593,569
Equipment$50,511$1,077,366$1,127,877
Land$234,100-$234,100
Investment Program Related Org$1,891,194--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$2,913,214$29,958--$2,943,172
2019$2,813,305$99,909--$2,913,214
2018$2,549,694$263,611--$2,813,305
2017$2,237,180$312,514--$2,549,694
2016$1,997,960$239,220--$2,237,180
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Curt ColumbusArtistic DirectorFT$177,544$7,960$185,504
Thomas Parrish IiiExecutive DirectorFT$178,011$7,493$185,504
Stephen BerensonFnd Director Brown/trinity MfaFT$119,964$1,046$121,010
Rebecca GibelActing CompanyPT$17,729-$17,729

Board Members and Trustees

NameTitle
Louis GiancolaChair
Ken SigelVice Chair
Kibbe ReillyVice Chair
Art SolomonBoard Member
Brian J McGuirkBoard Member
Clay PellBoard Member
Donna VanderbeckBoard Member
Eve KeenanBoard Member
Hannah Bell-LombardoBoard Member
James HurleyBoard Member
Jeffrey KasleBoard Member
Joe MaddenBoard Member
Joseph Dowling JrBoard Member
Judhajit DeBoard Member
Julia Anne SlomBoard Member
Kate SabatiniBoard Member
Laura HarrisBoard Member
Lawrence La SalaBoard Member
Linda CohenBoard Member
Maribeth WilliamsonBoard Member
Marisa QuinnBoard Member
Nancy Smith GreerBoard Member
Paul ChoquetteBoard Member
Peter LipmanBoard Member
Philip GouldBoard Member
Richard BerettaBoard Member
Sara McConnellBoard Member
Sean HolleyBoard Member
Sean RedfernBoard Member
Sergio GonzalezBoard Member
William GreeneBoard Member
Yahaira Jay PlacenciaBoard Member
Jonathan DuffySecretary
Doris Lichttreasurer
John S Lombardotreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Skanska USA Building IncDesign350 Fifth Avenue 32nd Floor, New York, NY 10118$243,869
Rm2 INCMfa Rent375 COMMERCE PARK ROAD, North Kingstown, RI 02852$171,653
Artist Group LLCOffice & Mfa Rent46 ABORN STREET4th FLOOR, Providence, RI 02903$120,367
Revenue and Support

Revenue Composition

Contributions and Grants
$5,576,506
Program Service Revenue
$2,746,764
Investment Income
$221,692
Other Revenue
$0
All Other Contributions
$2,773,049
Change in Net Assets
$3,501,926

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded14$394,337Fair Market Value
Clothing and Household Goods-$3,400Fair Market Value
Total Noncash Contributions14$397,737-

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,513,675
Revenue Not Reported on Financial Statements
$31,287
Revenue Not Reported on Form 990
$1,674,415
Total Revenue per Audited Statements
$10,188,090
Total Revenue per Form 990
$8,544,962
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,897,176
Other Expenses$2,145,860
Total Fundraising Expense$473,604
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,672,850$258,458$206,288$2,137,596
Occupancy$462,010$72,044$59,589$593,643
Depreciation Depletion$412,516$64,326$53,206$530,048
Current Officers, Directors, Trustees, and Key Employees$259,911$43,319$43,319$346,549
Office Expenses$204,012$31,813$26,313$262,138
Payroll Taxes$176,206$27,477$22,727$226,410
Other Employee Benefits$143,291$22,344$18,482$184,117
Interest$113,724$28,280-$142,004
Fees for Services Other$130,249-$9,200$139,449
Insurance$50,281$7,841$6,485$64,607
All Other Expenses$4,539$19,120$23,400$47,059
Advertising$38,135--$38,135
Fees for Services Accounting-$37,500-$37,500
Other Expenses$28,918$4,507$3,730$37,155
Fees for Service Investment Mgmnt Fees-$31,287-$31,287
Travel$8,331$720$865$9,916
Royalties$4,780--$4,780
Pension Plan Contributions$2,504--$2,504
Total Functional Expenses$3,920,396$649,036$473,604$5,043,036

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,706,437
Total Expenses per Form 990$5,043,036
Expenses per Audited Statements$5,011,749
Expenses Not Reported on Form 990$694,688
Expenses Not Reported on Financial Statements$31,287
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$1,205
Fundraising Gross Income$1,205
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Virtual Tour$4,680---
Christmas Carol$167,904$1,205$1,205$0
Total Events$172,584$1,205$1,205-
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
Loans from Officers, Directors, Trustees, and Key Employees$1,516,322$1,477,108▼ $39,214
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
Deferred Rent Credit$19,026
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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, SECTION A, LINE 2:

JOHN LOMBARDO AND HANNAH BELL-LOMBARDO - FAMILY RELATIONSHIP. Stephen Berenson and Brian McEleney - FAMILY RELATIONSHIP.

FORM 990, PART VI, SECTION B, LINE 11:

A draft copy of form 990 is sent to the full board of trustees, executive committee, finance committee and key employees for approval.

FORM 990, PART VI, SECTION B, LINE 12C:

The organization requests all board members and key employees to sign an annual conflict of interest policy certification. In addition, board members and key employees are requested to complete an annual form 990 disclosure, which requests disclosure of any interest that could give rise to conflicts.

FORM 990, PART VI, SECTION B, LINE 15:

Compensation of key employees is approved by the board and/or committees. Compensation is based on industry standards derived from compensation surveys, form 990 of other organizations, and in some cases written a contract.

FORM 990, PART VI, SECTION C, LINE 19:

Form 990 and financial statements are available on the organization's website: www.trinityrep.com. Form 990 is also available online at www.guidestar.org. All other documents are available upon request.

Form 990, Part VII, Sch L Part II

IN JUNE 2014, THE ORGANIZATION ENTERED INTO AN AGREEMENT WITH A PRIVATE FOUNDATION (RM2 FOUNDATION) WHICH IS CONTROLLED BY A former board member FOR THE SALE OF THE 87 EMPIRE STREET PROPERTY. THE SALE PRICE ($1,800,000) WAS DETERMINED BY AN INDEPENDENT APPRAISAL THAT WAS COMPLETED IN APRIL 2014. THE ORGANIZATION SIGNED A LEASE WITH THE FOUNDATION TO LEASE BACK THE PREMISES SOLD TO THE FOUNDATION. THE ORGANIZATION HAS RECORDED THE CAPITAL LEASE AT THE APPRAISED FAIR MARKET VALUE OF $1,800,000 AT THE ORIGINAL LEASE DATE. $1,477,108 IS NET PRINCIPAL DUE AS OF JUNE 30, 2021.

Filing and Contact Details

Filer

Filer Name
Trinity Repertory Company
EIN
22-2547262
In Care Of
% JENNIFER CANOLE
Phone
4015211100
Address
201 WASHINGTON STREET, PROVIDENCE, RI 02903-3297

Signing Officer

Name
Jennifer Canole
Title
interim ex. director
Phone
4015211100
Signed
2021-11-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Canole
Formed
1963
Legal Domicile
Ri
Voting Board Members
36
Independent Board Members
36
Employees
65
Volunteers
36

Preparer

Firm
Withumsmithbrown Pc
Address
1411 BROADWAY 9TH FLOOR, NEW YORK, NY 10018
Preparer
Catherine Bendall CPA
Phone
2127519100
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The board has approved the audit committee for oversight of the annual audit.

Financial Statement Notes

PART V, LINE 4:

THE EARNINGS ON THE ENDOWMENT FUNDS ARE TO BE USED FOR THE VARIOUS PROGRAM INITIATIVES AS STIPULATED BY THE DONORS AND THE ORGANIZATION'S SPENDING policy.

PART X, LINE 2:

The organization believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions.

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IRS990/Desc0DURING THE 2020-21 SEASON, WHILE THE COVID-19 PANDEMIC PREVENTED IN PERSON PERFORMANCES, TRINITY REPERTORY COMPANY DEVELOPED, FILMED, AND STREAMED "A CHRISTMAS CAROL ONLINE," AN INNOVATIVE NEW MEDIA PRODUCTION THAT EVOKED UNIQUE 2020 EXPERIENCES WHILE CELEBRATING SHARED CONNECTION AND RESILIENCE. OFFERED TO THE PUBLIC FREE FOR ONLINE STREAMING, THE PRODUCTION REACHED AUDIENCES AROUND THE WORLD. 56,756 VIEWERS STREAMED THE SHOW, IN ALL 50 STATES AND THREE TERRITORIES, AS WELL AS 37 COUNTRIES ON SIX CONTINENTS. 140,555 STUDENTS AND TEACHERS WATCHED TOGETHER IN THEIR VIRTUAL AND IN PERSON CLASSROOMS, REPRESENTING 1,102 SCHOOLS IN 45 STATES AND SEVEN COUNTRIES. OTHER DIGITAL PROGRAMMING OFFERED FOR FREE INCLUDED "THE WRITER'S ROOM" SERIES, PROVIDING INSIGHT INTO TRINITY REP'S ONGOING NEW PLAY DEVELOPMENT PROCESS THROUGH WORKSHOP READINGS AND CONVERSATIONS WITH COMMISSIONED PLAYWRIGHTS AND ARTISTS; AND "AMERICA TOO: RECKONING AND RESILIENCE" A COMMUNITY DISCUSSION SERIES THAT CURATED INTERSECTIONAL DISCUSSIONS OF RACISM, HEALTH, EDUCATION, SERVICE, ACTIVISM, AND THE ARTS. TRINITY REP'S WIDE RANGE OF EDUCATION PROGRAMS TYPICALLY SERVE MORE THAN 15,000 STUDENTS THROUGH PROJECT DISCOVERY STUDENT MATINEES, IN SCHOOL ARTIST RESIDENCIES AND WORKSHOPS, PROFESSIONAL TEACHER DEVELOPMENT, AFTER-SCHOOL AND SUMMER PROGRAMS, THE BROWN UNIVERSITY/TRINITY REP MFA PROGRAMS IN ACTING AND DIRECTING, THE TRINITY REP ACTIVE IMAGINATION NETWORK (TRAIN) FOR CHILDREN AND ADULTS ON THE AUTISM SPECTRUM, AND LIFELONG LEARNING OPPORTUNITIES. MOST TRAIN AND BROWN/TRINITY MFA PROGRAMS WERE ABLE TO OPERATE IN PERSON, WHILE TRINITY REP'S OTHER EDUCATION PROGRAMS CONTINUED ONLINE. DURING THE 2020-21 SEASON, TRINITY REP SERVED MORE THAN 18,000 K-12 STUDENTS, ADULTS, AND TEACHERS FROM MORE THAN 1,100 SCHOOLS DIGITALLY, AND NEARLY 500 WITH IN-PERSON PROGRAMMING.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$20.1$3.75$16.3$9.27$9.66$0.39
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.7$3.26$16.5$12.6$8.75$3.80
2021Detailed filing. Detailed filing data is available for this year.$19.3$5.99$13.3$8.54$5.04$3.50
2020Summary only. Only limited summary data is available for this year.$15.0$6.20$8.82$10.0$9.12$0.92
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.1$5.09$8.02$10.3$9.53$0.80
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.9$4.74$7.20$11.1$9.19$1.93
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.3$5.08$5.19$9.50$9.00$0.51
2016Detailed filing. Detailed filing data is available for this year.$8.85$4.58$4.27$8.53$9.18$0.65
2015Summary only. Only limited summary data is available for this year.$10.4$5.38$5.00$9.27$8.54$0.74
2014Detailed filing. Detailed filing data is available for this year.$9.78$5.55$4.23$6.26$8.85$2.59
2013Summary only. Only limited summary data is available for this year.$11.1$4.55$6.57$7.28$8.14$0.86
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.6$5.36$7.24$8.50
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.0$5.72$7.26$8.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.9$5.60$7.31$8.01