Civic Intelligence

Circuit Playhouse Inc Playhouse on the Square

990 • Fiscal year 2016 • EIN 23-7185772

Jul 01, 2015 to Jun 30, 2016 • Filed on Dec 20, 2016

66 South CooperMemphis, TN 38104

(901) 725-0776

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.04x

Higher debt load relative to assets than 23% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

44th percentile

0.19x

Higher debt load relative to revenue than 44% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

83rd percentile

24%

Higher net margin than 83% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

63rd percentile

5.0%

Faster asset growth than 63% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

86th percentile

30%

Faster revenue growth than 86% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Up

$15,982,024

Up $754,609 (+5.0%) from 2015

Net Assets

Up

$15,338,301

Up $648,417 (+4.4%) from 2015

Liabilities

Up

$643,723

Up $106,192 (+20%) from 2015

Revenue

Up

$3,304,235

Up $769,476 (+30%) from 2015

Expenses

Down

$2,523,536

Down $72,788 (-2.8%) from 2015

Net Income

Up

$780,699

Up $842,264 (+1368%) from 2015

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 2013: $16,595,853Liabilities 2013: $1,857,479Net Assets 2013: $14,738,3742013Assets 2014: $15,897,858Liabilities 2014: $1,271,926Net Assets 2014: $14,625,9322014Assets 2015: $15,227,415Liabilities 2015: $537,531Net Assets 2015: $14,689,8842015Assets 2016: $15,982,024Liabilities 2016: $643,723Net Assets 2016: $15,338,3012016Assets 2017: $15,923,295Liabilities 2017: $589,511Net Assets 2017: $15,333,7842017Assets 2018: $15,242,836Liabilities 2018: $366,622Net Assets 2018: $14,876,2142018Assets 2019: $15,442,859Liabilities 2019: $467,838Net Assets 2019: $14,975,0212019Assets 2020: $16,026,012Liabilities 2020: $175,485Net Assets 2020: $15,850,5272020Assets 2021: $16,830,150Liabilities 2021: $543,410Net Assets 2021: $16,286,7402021Assets 2022: $16,411,290Liabilities 2022: $469,171Net Assets 2022: $15,942,1192022Assets 2023: $15,787,593Liabilities 2023: $111,004Net Assets 2023: $15,676,5892023Assets 2024: $16,148,707Liabilities 2024: $282,642Net Assets 2024: $15,866,0652024Assets 2025: $15,255,113Liabilities 2025: $220,262Net Assets 2025: $15,034,8512025

Highlighted filing

2016

Assets$15,982,024
Liabilities$643,723
Net Assets$15,338,301

Operations Trend

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

$4.0M$2.0M$0-$2.0MExpenses 2013: $2,346,3882013Revenue 2014: $2,332,373Expenses 2014: $2,604,747Net Income 2014: -$272,3742014Revenue 2015: $2,534,759Expenses 2015: $2,596,324Net Income 2015: -$61,5652015Revenue 2016: $3,304,235Expenses 2016: $2,523,536Net Income 2016: $780,6992016Revenue 2017: $2,387,332Expenses 2017: $2,642,692Net Income 2017: -$255,3602017Revenue 2018: $2,389,249Expenses 2018: $2,838,456Net Income 2018: -$449,2072018Revenue 2019: $3,014,387Expenses 2019: $2,915,580Net Income 2019: $98,8072019Revenue 2020: $3,855,995Expenses 2020: $2,980,489Net Income 2020: $875,5062020Revenue 2021: $2,686,872Expenses 2021: $2,263,481Net Income 2021: $423,3912021Revenue 2022: $3,366,086Expenses 2022: $2,776,183Net Income 2022: $589,9032022Revenue 2023: $2,713,843Expenses 2023: $3,315,780Net Income 2023: -$601,9372023Revenue 2024: $3,690,450Expenses 2024: $3,875,860Net Income 2024: -$185,4102024Revenue 2025: $2,650,468Expenses 2025: $3,862,312Net Income 2025: -$1,211,8442025

Highlighted filing

2016

Revenue$3,304,235
Expenses$2,523,536
Net Income$780,699
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Dec 20, 2016
Return Version
2015v3.0
Gross Receipts
$3,322,869
Mission and Program Overview

Mission

To produce a challenging and diverse repertoire of theatrical work for the memphis community, to provide a nurturing artistic home where artists can practice their craft and share their talent, and to make all productions available through access, outreach, and educational activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,452,272$11,239,527▼ $212,745
Savings and Temporary Cash Investments$869,914$873,106▲ $3,192
Pledges and Grants Receivable$661,278$646,088▼ $15,190
Investments in Publicly Traded Securities$230,721$200,138▼ $30,583
Prepaid Expenses and Deferred Charges$104,910$124,651▲ $19,741
Cash and Non-Interest-Bearing Accounts$43,444$46,945▲ $3,501
Accounts Receivable$18,182$15,451▼ $2,731
Total Assets$15,227,415$15,982,024▲ $754,609
Other Assets Total$1,846,694$2,836,118▲ $989,424
Liabilities
Deferred Revenue$225,662$303,564▲ $77,902
Other Liabilities$230,721$200,138▼ $30,583
Accounts Payable and Accrued Expenses$81,148$140,021▲ $58,873
Total Liabilities$537,531$643,723▲ $106,192
Net Assets / Fund Balance
Unrestricted Net Assets$14,341,886$14,117,195▼ $224,691
Permanently Rstr Net Assets$33,000$1,033,000▲ $1,000,000
Temporarily Rstr Net Assets$314,998$188,106▼ $126,892
Total Net Assets Fund Balance$14,689,884$15,338,301▲ $648,417
Total Liabilities and Net Assets / Fund Balance$15,227,415$15,982,024▲ $754,609

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,592,418$3,080,256$13,672,674
Equipment$118,442$464,964$583,406
Land$528,667-$528,667
Other Assets Org$1,043--
Compensation and Service Providers

Board Members and Trustees

NameTitle
David Wayne BrownPresident
Adele LandersBoard Member
Allison PrescottBoard Member
Baker Gross MdBoard Member
Bob LoebBoard Member
Brett RobbsBoard Member
Brooks Monypeny IiiBoard Member
Christine ToddBoard Member
Cindy ConnerBoard Member
Dorothy KirschBoard Member
Jamey TraywickBoard Member
Jeff MayhewBoard Member
Jeramie SimmonsBoard Member
Jessica LotzBoard Member
Karen MccarthyBoard Member
Lee FergusonBoard Member
Lester BrownBoard Member
Lindsey RobertsBoard Member
Mike MclarenBoard Member
Nancy WillisBoard Member
Pat BoganBoard Member
Paul GuibaoBoard Member
Reggie KaminskyBoard Member
Ronald KwokaBoard Member
Steve CohenBoard Member
Sue BinnieBoard Member
Suzanne JacksonBoard Member
Terry BrooksBoard Member
Tina FocklerBoard Member
Walter PersonBoard Member
Wayne ShannonBoard Member
Zach FergusonBoard Member
Kathy FishPast Preside
Janis KesserSecretary
Micah BraffordTreasurer
Sue GuarinoVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$2,027,243
Program Service Revenue
$1,072,262
Investment Income
$90,312
Other Revenue
$114,418
All Other Contributions
$1,953,743
Change in Net Assets
$780,699

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,304,235
Revenue Not Reported on Form 990
$31,602
Total Revenue per Audited Statements
$3,335,837
Total Revenue per Form 990
$3,304,235
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,286,604
Salaries, Compensation, and Employee Benefits$1,236,932
Total Fundraising Expense$116,457
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$711,151$380,507$75,005$1,166,663
Depreciation Depletion$330,845$36,760-$367,605
Occupancy$195,562$21,729-$217,291
All Other Expenses$85,163$49,929$575$135,667
Insurance$104,928$17,223$3,576$125,727
Advertising$92,832-$5,365$98,197
Payroll Taxes$22,539$28,826$5,406$56,771
Office Expenses$2,092$28,819$21,140$52,051
Other Expenses$35,404--$35,404
Travel$19,346--$19,346
Fees for Services Other-$17,435-$17,435
Pension Plan Contributions-$8,108$5,390$13,498
Total Functional Expenses$1,817,743$589,336$116,457$2,523,536

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,687,420
Expenses per Audited Statements$2,523,536
Total Expenses per Form 990$2,523,536
Expenses Not Reported on Form 990$163,884
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$74,252
Fundraising Direct Expenses$18,634
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Art Auction$46,635$46,635$3,625$43,010
Great Wine Perf$14,695$14,695$8,235$6,460
Total Events$72,372$72,372$18,357$54,015
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation$200,138
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
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

The finance committee reviews the forms 990 and 990-t prior to filing. Copies of the 990 are provided to the board of directors prior to filing.

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

Conflict of interest letters are sent annually to the board members who are asked to acknowledge any conflicts at that time

Form 990, Page 6, Part VI, Line 19

Documents are made available upon request

Filing and Contact Details

Filer

Filer Name
Circuit Playhouse Inc
EIN
23-7185772
Phone
9017250776
Address
66 SOUTH COOPER, MEMPHIS, TN 38104

Signing Officer

Name
David Wayne Brown
Title
President
Phone
9017250776
Signed
2016-12-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Wayne Brown
Voting Board Members
36
Independent Board Members
36
Employees
43
Volunteers
262

Preparer

Firm
Whitehorn Tankersley & Davis Pllc
Address
670 OAKLEAF OFFICE LANE, MEMPHIS, TN 38117-4811
Preparer
Lee E Hood
Phone
9017675080
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To produce a challenging and diverse repertoire of theatrical work for the memphis community, to provide a nurturing artistic home where artists can practice their craft and share their talent, and to make all productions available through access, outreach, and educational activities.

Form 990, Part XI, Line 9

Change in beneficial interest -131,291 special event expense 18,635 special event expenses -18,635 total -131,291

Financial Statement Notes

Schedule D, Page 3, Part X

Playhouse is classified by the internal revenue service as exempt from federal income taxes on its related income under section 501(c)(3) of tbe internal revenue code. It has been classified as an organization that is not a private foundation under section 509(a)(2) of the internal revenue code. Playhouse is similarly exempted from tennessee taxes on its related exempt income under provisions of the tennessee tax code. Playhouse files its tax returns in the united states federal jurisdiction and is currently not under tax examination. Playhouse is subject to tax examinations by taxing authorities for years ending after june 30, 2012. Playhouse operates under provisions of fasb asc 740-10, accounting for uncertainty in income taxes which requires that computations of any tax assets or liabilities only consider tax positions that are more likely than not (defined as greater than 50% chance) to be sustained if the taxing authority examined the positions. Based on the evaluation of playhouse's tax positions, management believes that all positions taken would more likely than not be upheld under examination. Therefore. No provisions for the effects of uncertain tax positions has been recorded for the year ended june 30, 2016.

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

Change in beneficial interest -131,291 special event expense 18,635

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

Special event expenses 18,635

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IRS990/MissionDesc0TO PRODUCE A CHALLENGING AND DIVERSE REPERTOIRE OF THEATRICAL WORK FOR THE MEMPHIS COMMUNITY, TO PROVIDE A NURTURING ARTISTIC HOME WHERE ARTISTS CAN PRACTICE THEIR CRAFT AND SHARE THEIR TALENT, AND TO MAKE ALL PRODUCTIONS AVAILABLE THROUGH ACCESS, OUTREACH, AND EDUCATIONAL ACTIVITIES.
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Filings

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