Civic Intelligence

Freefall Theatre Inc.

990 • Fiscal year 2017 • EIN 26-4251761

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 06, 2018

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

1.61x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

63rd percentile

0.19x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

50th percentile

3.1%

Higher net margin than 50% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

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.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

7th percentile

-17%

Faster asset growth than 7% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

14th percentile

-17%

Faster revenue growth than 14% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$163,777

Down $33,448 (-17%) from 2016

Net Assets

Up

-$100,716

Up $42,137 (+29%) from 2016

Liabilities

Down

$264,493

Down $75,585 (-22%) from 2016

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin50th percentile

Revenue

Down

$1,373,266

Down $287,488 (-17%) from 2016

Expenses

Down

$1,331,129

Down $48,610 (-3.5%) from 2016

Net Income

Down

$42,137

Down $238,878 (-85%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth7th 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

2017

Assets$163,777
Liabilities$264,493
Net Assets-$100,716
Open 2017 Filing

Operations Trend

Revenue Growth14th 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

2017

Revenue$1,373,266
Expenses$1,331,129
Net Income$42,137
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 6, 2018
Return Version
2016v3.1
Gross Receipts
$1,373,266
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$160,993$145,344▼ $15,649
Loans From Officers Directors$149,686$119,840▼ $29,846
Cash and Non-Interest-Bearing Accounts$19,341--
Total Assets$197,225$163,777▼ $33,448
Other Assets Total$16,891$18,433▲ $1,542
Liabilities
Accounts Payable and Accrued Expenses$130,721$89,814▼ $40,907
Deferred Revenue$55,671$50,839▼ $4,832
Unsecured Notes Loans Payable$4,000$4,000→ $0
Total Liabilities$340,078$264,493▼ $75,585
Net Assets / Fund Balance
Unrestricted Net Assets$-142,853$-100,716▲ $42,137
Total Net Assets Fund Balance$-142,853$-100,716▲ $42,137
Total Liabilities and Net Assets / Fund Balance$197,225$163,777▼ $33,448

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$145,344$179,458$324,802
Other Assets Org$3,270--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Cheryl ForchilliPresident
Bob Devin JonesDirector
Ed LallyDirector
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
$587,604
Program Service Revenue
$781,635
Investment Income
$0
Other Revenue
$4,027
All Other Contributions
$587,604
Change in Net Assets
$42,137

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,354,073
Revenue Not Reported on Financial Statements
$19,193
Revenue Not Reported on Form 990
$100,000
Other Revenue Adjustments
$19,193
Total Revenue per Audited Statements
$1,454,073
Total Revenue per Form 990
$1,373,266
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$843,096
Other Expenses$488,033
Total Fundraising Expense$156,674
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$439,577$204,631$113,684$757,892
Occupancy$53,730$6,321$3,161$63,212
Payroll Taxes$30,829$14,351$7,973$53,153
Royalties$51,647--$51,647
Office Expenses$7,211$34,132$6,730$48,073
Advertising$33,773$13,794-$47,567
Depreciation Depletion$33,851--$33,851
Other Employee Benefits$18,589$8,654$4,808$32,051
Other Expenses$37,165$766$19,451$19,451
All Other Expenses$17,349--$17,349
Interest-$16,371-$16,371
Travel$12,741--$12,741
Insurance$8,225$968$484$9,677
Fees for Services Accounting-$6,700-$6,700
Information Technology-$1,189-$1,189
Total Functional Expenses$866,578$307,877$156,674$1,331,129

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,411,936
Total Expenses per Form 990$1,331,129
Expenses per Audited Statements$1,311,936
Expenses Not Reported on Form 990$100,000
Expenses Not Reported on Financial Statements$19,193
Other Expense Adjustments$19,193
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$149,686$119,840▼ $29,846
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
2018-02-06
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
77
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 -19,193 food & beverage merchandise 19,193”

Financial Statement Notes

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

“Food & beverage merchandise 19,193”

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

“Food & beverage merchandise 19,193”

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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

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$163,777
Liabilities
$264,493
Net assets
-$100,716
Revenue
$1,373,266
Expenses
$1,331,129
Net income
$42,137
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