Civic Intelligence

Colonial Theater Inc.

990 • Fiscal year 2020 • EIN 27-2159587

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 15, 2021

70 State StreetAugusta, ME 04330

(207) 242-1574

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.02x

Higher debt load relative to assets than 42% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.09x

Higher debt load relative to revenue than 55% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

97th percentile

82%

Higher net margin than 97% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

72nd percentile

25%

Faster asset growth than 72% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

95th percentile

166%

Faster revenue growth than 95% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Up

$966,172

Up $190,983 (+25%) from 2019

Net Assets

Up

$947,681

Up $172,492 (+22%) from 2019

Liabilities

Up

$18,491

Up $18,491 from 2019

Revenue

Up

$209,219

Up $130,635 (+166%) from 2019

Expenses

Up

$36,727

Up $15,344 (+72%) from 2019

Net Income

Up

$172,492

Up $115,291 (+202%) from 2019

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2016: $409,669Liabilities 2016: $100,000Net Assets 2016: $309,6692016Assets 2017: $616,972Liabilities 2017: $100,000Net Assets 2017: $516,9722017Assets 2018: $717,988Liabilities 2018: $0Net Assets 2018: $717,9882018Assets 2019: $775,189Liabilities 2019: $0Net Assets 2019: $775,1892019Assets 2020: $966,172Liabilities 2020: $18,491Net Assets 2020: $947,6812020Assets 2021: $1,070,065Liabilities 2021: $0Net Assets 2021: $1,070,0652021Assets 2022: $1,189,119Liabilities 2022: $40,200Net Assets 2022: $1,148,9192022Assets 2023: $1,278,569Liabilities 2023: $135,200Net Assets 2023: $1,143,3692023Assets 2024: $1,554,735Liabilities 2024: $212,140Net Assets 2024: $1,342,5952024

Highlighted filing

2020

Assets$966,172
Liabilities$18,491
Net Assets$947,681

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2016: $89,435Expenses 2016: $125,469Net Income 2016: -$36,0342016Revenue 2017: $281,516Expenses 2017: $74,213Net Income 2017: $207,3032017Revenue 2018: $233,332Expenses 2018: $32,316Net Income 2018: $201,0162018Revenue 2019: $78,584Expenses 2019: $21,383Net Income 2019: $57,2012019Revenue 2020: $209,219Expenses 2020: $36,727Net Income 2020: $172,4922020Revenue 2021: $195,437Expenses 2021: $73,053Net Income 2021: $122,3842021Revenue 2022: $140,635Expenses 2022: $61,781Net Income 2022: $78,8542022Revenue 2023: $90,527Expenses 2023: $96,077Net Income 2023: -$5,5502023Revenue 2024: $307,815Expenses 2024: $108,589Net Income 2024: $199,2262024

Highlighted filing

2020

Revenue$209,219
Expenses$36,727
Net Income$172,492
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 15, 2021
Return Version
2020v4.1
Gross Receipts
$210,212
Mission and Program Overview

Mission

To restore and operate the historic colonial theatre, located in downtown augusta, maine, for the artistic, educational, and charitable benefit of its community, which includes the city of augusta, surrounding towns, and the entire kennebec valley region.

To restore and operate the historic augusta colonial theater for the artistic, educational, and charitable benefit of the community. The colonial theater will be a far-reaching, viable, restored historic theater in the downtown of our state capital that will provide programming in cultural arts and entertainment to enrich the lives of people of all ages living in our community and beyond.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$721,143$861,670▲ $140,527
Cash and Non-Interest-Bearing Accounts$54,046$104,502▲ $50,456
Total Assets$775,189$966,172▲ $190,983
Liabilities
Unsecured Notes Loans Payable-$18,491-
Total Liabilities$0$18,491▲ $18,491
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$760,189$912,581▲ $152,392
Net Assets With Donor Restrictions$15,000$35,100▲ $20,100
Total Net Assets Fund Balance$775,189$947,681▲ $172,492
Total Liabilities and Net Assets / Fund Balance$775,189$966,172▲ $190,983

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$861,670--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Richard ParkhurstPresident
Andrew SilsbyVice President
Alicia GaudetDirector
Amanda TaylorDirector
Caroline SabanDirector
Crystal SullivanDirector
Elisa EllisDirector
Gary PeacheyDirector
Michael HallDirector
Nicole McsweeneyDirector
Phyllis Von HerrlichDirector
Stan KoskiDirector
Tobias ParkhurstDirector
Kathi WallExecutive Director
Keith LukeCity Rep
Soo ParkhurstSecretary
Bob DubeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$207,240
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$1,979
All Other Contributions
$113,990
Change in Net Assets
$172,492
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$21,201
Salaries, Compensation, and Employee Benefits$15,526
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$14,423--$14,423
Insurance$6,737--$6,737
Office Expenses$3,690--$3,690
Interest$1,728--$1,728
Payroll Taxes$1,103--$1,103
Occupancy$871--$871
Other Expenses$388--$388
Total Functional Expenses$36,727$0$0$36,727
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$2,565
Fundraising Direct Expenses$993
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Andrew SilsbyAndrew Silsby Is the Vice President of the Board of DirectorsANDREW SILSBY IS THE PRESIDENT AND CEO OF KENNEBEC SAVINGS BANK (KSB). THE COLONIAL THEATER HAS A LINE OF CREDIT WITH KSB. DURING 2020, THE COLONIAL THEATER DREW A TOTAL OF $68,991, MADE PAYMENTS OF $50,500 ON THE LINE OF CREDIT, AND PAID $1,728 IN INTEREST. THE OUTSTANDING BALANCE ON THE LINE OF CREDIT AS OF DECEMBER 31, 2020 WAS $18,491. THE LINE OF CREDIT WAS USED TO FACILIATE THE RESTORATION OF THE THEATER'S FACADE. ANDREW SILSBY ABSTAINS FROM ANY DISCUSSION AND VOTING PERTAINING TO THE LINE OF CREDIT.No$20,219
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed and approved by the executive committee and a copy provided to the board of directors prior to filing.

Form 990, Part VI, Section C, Line 18

Form 990 is available upon request.

Form 990, Part VI, Section C, Line 19

Governing documents and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Colonial Theater Inc
EIN
27-2159587
Phone
2072421574
Address
70 STATE STREET, AUGUSTA, ME 04330

Signing Officer

Name
Richard Parkhurst
Title
President
Phone
2072421574
Signed
2021-06-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Parkhurst
Formed
1955
Legal Domicile
Me
Voting Board Members
16
Independent Board Members
16
Employees
1
Volunteers
25

Preparer

Firm
Wipfli Llp
Address
1 MARKET SQUARE, AUGUSTA, ME 04330-4637
Preparer
Bob Dube CPA
Phone
2076224766
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IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc2PAYROLL PROCESSING FEES
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IRS990/OtherExpensesGrp/ProgramServicesAmt1887
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IRS990/OtherExpensesGrp/TotalAmt1887
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt014423
IRS990/OtherSalariesAndWagesGrp/TotalAmt014423
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt01103
IRS990/PayrollTaxesGrp/TotalAmt01103
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0RICHARD PARKHURST
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
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IRS990/PYContributionsGrantsAmt063375
IRS990/PYExcessBenefitTransInd00
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IRS990/PYInvestmentIncomeAmt00
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IRS990/PYOtherRevenueAmt015209
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt057201
IRS990/PYSalariesCompEmpBnftPaidAmt015526
IRS990/PYTotalExpensesAmt021383
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt078584
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0172492
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0407
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0233332
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt085237
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt048929
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0861670
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0861670
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0ANDREW SILSBY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0ANDREW SILSBY IS THE VICE PRESIDENT OF THE BOARD OF DIRECTORS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0ANDREW SILSBY IS THE PRESIDENT AND CEO OF KENNEBEC SAVINGS BANK (KSB). THE COLONIAL THEATER HAS A LINE OF CREDIT WITH KSB. DURING 2020, THE COLONIAL THEATER DREW A TOTAL OF $68,991, MADE PAYMENTS OF $50,500 ON THE LINE OF CREDIT, AND PAID $1,728 IN INTEREST. THE OUTSTANDING BALANCE ON THE LINE OF CREDIT AS OF DECEMBER 31, 2020 WAS $18,491. THE LINE OF CREDIT WAS USED TO FACILIATE THE RESTORATION OF THE THEATER'S FACADE. ANDREW SILSBY ABSTAINS FROM ANY DISCUSSION AND VOTING PERTAINING TO THE LINE OF CREDIT.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE AND A COPY PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SubjectToProxyTaxInd00
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IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalLiabilitiesGrp/EOYAmt018491
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalVolunteersCnt025
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IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt018491
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt070 STATE STREET
IRS990/USAddress/CityNm0AUGUSTA
IRS990/USAddress/StateAbbreviationCd0ME
IRS990/USAddress/ZIPCd004330
IRS990/VotingMembersGoverningBodyCnt016
IRS990/VotingMembersIndependentCnt016
IRS990/WebsiteAddressTxt0WWW.AUGUSTACOLONIALTHEATER.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01

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