Civic Intelligence

Freefall Theatre Inc.

990 • Fiscal year 2016 • EIN 26-4251761

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 13, 2017

Organization ProfileWWW.FREEFALLTHEATRE.COM
6099 Central AvenueSt Petersburg, FL 33710

(727) 498-5205

Siviq Scores

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

Liabilities / Assets

97th percentile

1.72x

Higher debt load relative to assets than 97% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

63rd percentile

0.20x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

77th percentile

17%

Higher net margin than 77% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

24th percentile

-4.4%

Faster asset growth than 24% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

89th percentile

52%

Faster revenue growth than 89% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$197,225

Down $8,989 (-4.4%) from 2015

Net Assets

Up

-$142,853

Up $281,015 (+66%) from 2015

Liabilities

Down

$340,078

Down $290,004 (-46%) from 2015

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin77th percentile

Revenue

Up

$1,660,754

Up $570,418 (+52%) from 2015

Expenses

Up

$1,379,739

Up $201,122 (+17%) from 2015

Net Income

Up

$281,015

Up $369,296 (+418%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$1.0M$500K$0-$500KAssets 2011: $256,267Liabilities 2011: $304,758Net Assets 2011: -$48,4912011Assets 2012: $225,471Liabilities 2012: $435,519Net Assets 2012: -$210,0482012Assets 2013: $202,232Liabilities 2013: $475,993Net Assets 2013: -$273,7612013Assets 2014: $197,643Liabilities 2014: $533,230Net Assets 2014: -$335,5872014Assets 2015: $206,214Liabilities 2015: $630,082Net Assets 2015: -$423,8682015Assets 2016: $197,225Liabilities 2016: $340,078Net Assets 2016: -$142,8532016Assets 2017: $163,777Liabilities 2017: $264,493Net Assets 2017: -$100,7162017Assets 2018: $333,161Liabilities 2018: $685,993Net Assets 2018: -$352,8322018Assets 2021: $542,363Liabilities 2021: $702,653Net Assets 2021: -$160,2902021Assets 2022: $523,873Liabilities 2022: $671,971Net Assets 2022: -$148,0982022Assets 2023: $569,092Liabilities 2023: $722,648Net Assets 2023: -$153,5562023Assets 2024: $509,750Liabilities 2024: $725,487Net Assets 2024: -$215,7372024

Highlighted filing

2016

Assets$197,225
Liabilities$340,078
Net Assets-$142,853
Open 2016 Filing

Operations Trend

Revenue Growth89th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2011: $468,9952011Expenses 2012: $847,4282012Expenses 2013: $803,3412013Revenue 2014: $907,888Expenses 2014: $918,343Net Income 2014: -$10,4552014Revenue 2015: $1,090,336Expenses 2015: $1,178,617Net Income 2015: -$88,2812015Revenue 2016: $1,660,754Expenses 2016: $1,379,739Net Income 2016: $281,0152016Revenue 2017: $1,373,266Expenses 2017: $1,331,129Net Income 2017: $42,1372017Revenue 2018: $1,334,774Expenses 2018: $1,586,890Net Income 2018: -$252,1162018Revenue 2021: $729,213Expenses 2021: $843,088Net Income 2021: -$113,8752021Revenue 2022: $1,309,886Expenses 2022: $1,295,964Net Income 2022: $13,9222022Revenue 2023: $1,416,113Expenses 2023: $1,415,375Net Income 2023: $7382023Revenue 2024: $1,423,686Expenses 2024: $1,485,867Net Income 2024: -$62,1812024

Highlighted filing

2016

Revenue$1,660,754
Expenses$1,379,739
Net Income$281,015
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 13, 2017
Return Version
2015v3.0
Gross Receipts
$1,660,754
Mission and Program Overview

Mission

The mission of freefall theatre is to pursue art's greater purposes and the transformative power of theatre - as a builder of community, a source of upliftment, and a builder of cultural legacy. We will present a varied range of classical and new works that are bold, daring, and diverse. Our work will strive to be accessible, and we will present it in ways that invite, entertain, and challenge our audience. We are committed to improving the lives of the citizens of tampa bay through our efforts to provide broad access to theatre that represents a high level of artistic achievement, and through educational programs that increase the community's understanding and enjoyment of live theatre.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$164,685$160,993▼ $3,692
Loans From Officers Directors$456,366$149,686▼ $306,680
Cash and Non-Interest-Bearing Accounts$26,267$19,341▼ $6,926
Total Assets$206,214$197,225▼ $8,989
Other Assets Total$15,262$16,891▲ $1,629
Liabilities
Accounts Payable and Accrued Expenses$59,397$130,721▲ $71,324
Deferred Revenue$100,969$55,671▼ $45,298
Unsecured Notes Loans Payable$13,350$4,000▼ $9,350
Total Liabilities$630,082$340,078▼ $290,004
Net Assets / Fund Balance
Unrestricted Net Assets$-423,868$-142,853▲ $281,015
Total Net Assets Fund Balance$-423,868$-142,853▲ $281,015
Total Liabilities and Net Assets / Fund Balance$206,214$197,225▼ $8,989

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$160,993$145,607$306,600
Other Assets Org$3,270--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Cheryl ForchilliPresident
Bob Devin JonesDirector
Eileen SweeneyDirector
Ezra SingerDirector
Kevin LaneDirector
Lindsay TrenschDirector
Pam WhiteakerDirector
ROBERT O'BRIONDirector
Rebecca HeimsteadDirector
Susan ReiterDirector
Lacey Nash MillerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$862,903
Program Service Revenue
$795,432
Investment Income
$83
Other Revenue
$2,336
All Other Contributions
$862,903
Change in Net Assets
$281,015

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,640,077
Revenue Not Reported on Financial Statements
$20,677
Revenue Not Reported on Form 990
$100,000
Other Revenue Adjustments
$20,677
Total Revenue per Audited Statements
$1,740,077
Total Revenue per Form 990
$1,660,754
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$873,993
Other Expenses$505,746
Total Fundraising Expense$177,702
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$457,474$212,962$118,312$788,748
Occupancy$58,696$6,905$3,453$69,054
Office Expenses$8,983$42,518$8,384$59,885
Payroll Taxes$30,292$14,101$7,834$52,227
Advertising$36,167$14,772-$50,939
Travel$48,752--$48,752
Royalties$39,065--$39,065
Other Employee Benefits$19,150$8,915$4,953$33,018
Depreciation Depletion$31,834--$31,834
Interest-$26,788-$26,788
Insurance$13,304$1,565$783$15,652
Other Expenses$28,278$583$11,629$11,629
All Other Expenses$3,185$2,769$1,385$7,339
Fees for Services Accounting-$6,700-$6,700
Information Technology-$5,094-$5,094
Total Functional Expenses$858,365$343,672$177,702$1,379,739

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,459,062
Total Expenses per Form 990$1,379,739
Expenses per Audited Statements$1,359,062
Expenses Not Reported on Form 990$100,000
Expenses Not Reported on Financial Statements$20,677
Other Expense Adjustments$20,677
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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$456,366$149,686▼ $306,680
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
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

“Draft form 990 is circulated to the board of directors prior to filing.”

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

“Annually, all directors, officers and key employees are required to complete a conflict of interest disclosure”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Freefall Theatre Inc
EIN
26-4251761
Phone
7274985205
Address
6099 CENTRAL AVENUE, ST PETERSBURG, FL 33710

Signing Officer

Name
Cheryl Forchilli
Title
President
Phone
7274985205
Signed
2017-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cheryl Forchilli
Formed
2009
Legal Domicile
Fl
Voting Board Members
11
Independent Board Members
11
Employees
79
Volunteers
11

Preparer

Firm
Frscpa Pllc
Address
1301 66TH ST N, SAINT PETERSBURG, FL 33710-5501
Preparer
Paul E Horowitz
Phone
7273471120
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission of freefall theatre is to pursue art's greater purposes and the transformative power of theatre - as a builder of community, a source of upliftment, and a builder of cultural legacy. We will present a varied range of classical and new works that are bold, daring, and diverse. Our work will strive to be accessible, and we will present it in ways that invite, entertain, and challenge our audience. We are committed to improving the lives of the citizens of tampa bay through our efforts to provide broad access to theatre that represents a high level of artistic achievement, and through educational programs that increase the community's understanding and enjoyment of live theatre.”

Form 990, Part XI, Line 9

“Food & beverage merchandise -20,677 food & beverage merchandise 20,677”

Financial Statement Notes

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

“Food & beverage merchandise 20,677”

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

“Food & beverage merchandise 20,677”

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IRS990/MissionDesc0THE MISSION OF FREEFALL THEATRE IS TO PURSUE ART'S GREATER PURPOSES AND THE TRANSFORMATIVE POWER OF THEATRE - AS A BUILDER OF COMMUNITY, A SOURCE OF UPLIFTMENT, AND A BUILDER OF CULTURAL LEGACY. WE WILL PRESENT A VARIED RANGE OF CLASSICAL AND NEW WORKS THAT ARE BOLD, DARING, AND DIVERSE. OUR WORK WILL STRIVE TO BE ACCESSIBLE, AND WE WILL PRESENT IT IN WAYS THAT INVITE, ENTERTAIN, AND CHALLENGE OUR AUDIENCE. WE ARE COMMITTED TO IMPROVING THE LIVES OF THE CITIZENS OF TAMPA BAY THROUGH OUR EFFORTS TO PROVIDE BROAD ACCESS TO THEATRE THAT REPRESENTS A HIGH LEVEL OF ARTISTIC ACHIEVEMENT, AND THROUGH EDUCATIONAL PROGRAMS THAT INCREASE THE COMMUNITY'S UNDERSTANDING AND ENJOYMENT OF LIVE THEATRE.
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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$197,225
Liabilities
$340,078
Net assets
-$142,853
Revenue
$1,660,754
Expenses
$1,379,739
Net income
$281,015
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.51$0.73$0.22$1.42$1.49$0.06
2023Detailed filing. Detailed filing data is available for this year.$0.57$0.72$0.15$1.42$1.42$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.52$0.67$0.15$1.31$1.30$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.54$0.70$0.16$0.73$0.84$0.11
2018Detailed filing. Detailed filing data is available for this year.$0.33$0.69$0.35$1.33$1.59$0.25
2017Detailed filing. Detailed filing data is available for this year.$0.16$0.26$0.10$1.37$1.33$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.20$0.34$0.14$1.66$1.38$0.28
2015Detailed filing. Detailed filing data is available for this year.$0.21$0.63$0.42$1.09$1.18$0.09
2014Detailed filing. Detailed filing data is available for this year.$0.20$0.53$0.34$0.91$0.92$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.20$0.48$0.27$0.80
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.23$0.44$0.21$0.85
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.26$0.30$0.05$0.47