Civic Intelligence

Studio Players Inc.

990 • Fiscal year 2024 • EIN 31-0987123

Jul 01, 2023 to Jun 30, 2024 • Filed on Nov 15, 2024

P O Box 54737Lexington, KY 40555-4737

(859) 312-4894

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

59th percentile

9.5%

Higher net margin than 59% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$2,300

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

47th percentile

2.8%

Faster asset growth than 47% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

60th percentile

15%

Faster revenue growth than 60% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Up

$568,077

Up $15,718 (+2.8%) from 2023

Net Assets

Up

$568,077

Up $15,718 (+2.8%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue

Up

$125,964

Up $16,299 (+15%) from 2023

Expenses

Up

$114,002

Up $18,504 (+19%) from 2023

Net Income

Down

$11,962

Down $2,205 (-16%) from 2023

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2021: $568,116Liabilities 2021: $0Net Assets 2021: $568,1162021Assets 2022: $538,192Liabilities 2022: $0Net Assets 2022: $538,1922022Assets 2023: $552,359Liabilities 2023: $0Net Assets 2023: $552,3592023Assets 2024: $568,077Liabilities 2024: $0Net Assets 2024: $568,0772024Assets 2025: $592,889Liabilities 2025: $0Net Assets 2025: $592,8892025

Highlighted filing

2024

Assets$568,077
Liabilities$0
Net Assets$568,077

Operations Trend

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

$150K$100K$50K$0-$50KRevenue 2021: $18,039Expenses 2021: $38,415Net Income 2021: -$20,3762021Revenue 2022: $53,339Expenses 2022: $85,204Net Income 2022: -$31,8652022Revenue 2023: $109,665Expenses 2023: $95,498Net Income 2023: $14,1672023Revenue 2024: $125,964Expenses 2024: $114,002Net Income 2024: $11,9622024Revenue 2025: $140,991Expenses 2025: $116,179Net Income 2025: $24,8122025

Highlighted filing

2024

Revenue$125,964
Expenses$114,002
Net Income$11,962
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$127,017
Mission and Program Overview

Mission

Studio Players Inc. is a non- profit organization with the following mission: To entertain our community with high quality live theatre; with a variety of shows from classic to contemporary playwrights; and to provide those willing to volunteer with the organization opportunities to participate in all aspects of live theatre.

Studio Players is a community theatre that has been in continuous operation since our first show in 1953. A non-profit organization Studio Players mission is to offer plays to the greater Lexington KY area which will be enjoyed by a broad range of patrons. The theatre is volunteer driven with no paid staff. Governance of the organization is through an 11 member board of directors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$210,461$235,596▲ $25,135
Land, Buildings, and Equipment, Net$200,000$200,000→ $0
Cash and Non-Interest-Bearing Accounts$123,836$132,481▲ $8,645
Investments Other Securities$16,922$0▼ $16,922
Investments in Publicly Traded Securities$1,070$0▼ $1,070
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$552,289$568,077▲ $15,788
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$552,289$568,077▲ $15,788
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$552,289$568,077▲ $15,788
Total Liabilities and Net Assets / Fund Balance$552,289$568,077▲ $15,788

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$200,000--
Other Securities$0--
Closely Held Equity Interests$0--
Financial Derivatives$0--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steve MeadowsSecretary-$1,150$1,150$2,300
Gary McCormickPast President-$900$900$1,800
Bob SingletonTrusteePT$829$829$1,658
David BratcherTreasurerPT$800$800$1,600
Ellen HellardTrusteePT$400$400$800
Kathryn CollinsTrusteePT$314$314$628
Brett ErvinPresident Elect-$231$231$462
Debbie SharpPresident-$200$200$400

Board Members and Trustees

NameTitle
Evelyn LearTrustee
Kathryn VelonisTrustee
Robert KinstleTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$23,385
Program Service Revenue
$92,673
Investment Income
$9,906
Other Revenue
$0
All Other Contributions
$23,055
Change in Net Assets
$11,962
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$113,071
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$16,758$0$0$16,758
Royalties$8,205$0$0$8,205
Insurance$6,103$0$0$6,103
Advertising$5,855$0$0$5,855
Fees for Services Legal$2,201$0$0$2,201
Fees for Services Accounting$1,880$0$0$1,880
Information Technology$1,138$0$0$1,138
Office Expenses$1,095$0$0$1,095
Benefits to Members$931--$931
Total Functional Expenses$114,002$0$0$114,002
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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
No
Material changes to governing documents
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Part VI, Section B, Line 1

Studio Players Articles of Incorporation call for an 11 member board of Trustees consisting of 5 officerS: President; Past President; President Elect; Secretary; and Treasurer; plus six Trustees. Officers serve a term of one year although the Secretary and Treasurer may serve to subsequent one-year terms. Trustees serve for three years and may serve one more consecutive term but after six years must not serve for at least one full year. There is also an advisory board often persons active volunteers who prefer not being board member. The Articles of Incorporation that all Members will approve the slate of officers and the annual meeting of Studio Players. Members are individuals who pay $10 per year for which they receive on ticket for a free show and the opportunity to attend the annual meeting and picnic at which time the slate of officers is presented for their approval. The Articles of Incorporation made it clear this organization would be a "community" theatre going beyond just presenting plays. The goal was to create a "community" of individuals with a love of live theatre with which they could be involved both on and off the stage. Having the membership in place for over 70 years has enhanced the continuing successes of the organization.

Part VI, Line 4

In 2024 Studio Players Amended its original Articles of Incorporation primarily to correct some of the sections of the previous Articles. The Board of Directors agreed there were some things in the previous Articles that were better handled in By-Laws. The new Article of Incorporation were approved in April and subsequently filed with the Kentucky Secretary of State.

Part VI, Line 7A

Studio Players Articles of Incorporation established a board of directors and officers whose positions and terms of office would be approved by "members." These members pay dues of $10 per year for which they receive a free ticket to one of the organizations shows as well as the ability to vote for officers and directors at the annual members meeting usually held in the month of June. Members ofter are individuals having a long association with Studio Players and often are season ticket holders donors and volunteers for activities related to the organizations show productions.

Part VI, Line 7B

Studio Players has only a few committees that meet some ad hoc. While most actions requiring approval are board reviewed a significant amount of time is take by our play reading committee which offers to the board a list of plays for consideration to be presented in each upcoming season. Copies of scripts are passed around all interested parties with on-going discussion by the board of directors. Ultimately the final decision lies with the board but there usually is consensus amongst all parties before that occurs.

Part VI, Line 11B

The board of directors is notified Form 990 has been prepared and is available for review. Information in the 990 form also is provided throughout the year in the treasurers monthly financial report. The boards meeting often occurs after the 990 f0rm has been prepared but arrangements can be made to meet individually in those situations. Members of the public are welcome to review the complete from upon request by contacting the Treasurer directly or through the Studio Players web site.

Part VI, Line 19

Because of Studio Players 70-plus years existence as Lexingtons community theatre the board attempts to make sure the community receives information regarding the organization. We use direct mail to send a monthly news letter as well as a Facebook page and website to get the word out about not just our shows but also members of our theatre community. Typically if someone has a concern regarding a matter at the theatre a board member will call and if necessary meet with that individual to address the concern. Studio also provides a list of policies to every board member and every individual involved in a production of a show. The policies relate to behavior and our expectations of how these individuals present themselves both at the theatre as well as in our larger community.

Filing and Contact Details

Filer

Filer Name
Studio Players
EIN
31-0987123
In Care Of
% David Bratcher
Phone
8593124894
Address
P O Box 54737, Lexington, KY 40555-4737

Signing Officer

Name
David Bratcher
Title
Treasurer
Signed
2024-11-15

Organization Details

Principal Officer
David Bratcher
Formed
1952
Legal Domicile
Ky
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
50
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IRS990/GrossReceiptsAmt0127017
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IRS990/IncludeFIN48FootnoteInd0false
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IRS990/LegalDomicileStateCd0KY
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IRS990/MissionDesc0Studio Players Inc. is a non-profit community theatre in Lexington KY. Incorporated in 1952 the organizations mission is to provide the greater Lexington KY area with a wide array of live theatre production that will be enjoyed by a wide array of patrons. The organization has been offering live theatre over the last 72 years all the time using volunteers to produce the shows.
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IRS990/OperateHospitalInd0false
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IRS990/OtherExpensesGrp/Desc0Season Ticket expense
IRS990/OtherExpensesGrp/Desc1Show Expense
IRS990/OtherExpensesGrp/Desc2Supplies & Materials
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