Civic Intelligence

The Ocean Community United Theatre Inc

990 • Fiscal year 2017 • EIN 46-3579526

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

PO Box 384Westerly, RI 02891

(401) 315-2030

Siviq Scores

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

Liabilities / Assets

85th percentile

0.66x

Higher debt load relative to assets than 85% of similar nonprofits.

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

Liabilities / Revenue

93rd percentile

3.50x

Higher debt load relative to revenue than 93% of similar nonprofits.

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

Net Margin

90th percentile

47%

Higher net margin than 90% 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

88th percentile

38%

Faster asset growth than 88% of similar nonprofits.

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

Revenue Growth

6th percentile

-41%

Faster revenue growth than 6% of similar nonprofits.

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

Assets

Up

$4,452,514

Up $1,218,333 (+38%) from 2016

Net Assets

Up

$1,497,575

Up $396,876 (+36%) from 2016

Liabilities

Up

$2,954,939

Up $821,457 (+39%) from 2016

Revenue

Down

$844,651

Down $595,120 (-41%) from 2016

Expenses

Up

$447,775

Up $107,770 (+32%) from 2016

Net Income

Down

$396,876

Down $702,890 (-64%) from 2016

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 2015: $60,933Liabilities 2015: $60,000Net Assets 2015: $9332015Assets 2016: $3,234,181Liabilities 2016: $2,133,482Net Assets 2016: $1,100,6992016Assets 2017: $4,452,514Liabilities 2017: $2,954,939Net Assets 2017: $1,497,5752017Assets 2018: $8,596,107Liabilities 2018: $1,380,508Net Assets 2018: $7,215,5992018Assets 2019: $14,054,591Liabilities 2019: $1,474,787Net Assets 2019: $12,579,8042019Assets 2020: $18,493,659Liabilities 2020: $4,733,308Net Assets 2020: $13,760,3512020Assets 2021: $16,634,005Liabilities 2021: $1,328,281Net Assets 2021: $15,305,7242021Assets 2022: $16,934,392Liabilities 2022: $1,412,598Net Assets 2022: $15,521,7942022Assets 2023: $17,324,400Liabilities 2023: $1,593,683Net Assets 2023: $15,730,7172023Assets 2024: $17,755,501Liabilities 2024: $1,725,223Net Assets 2024: $16,030,2782024

Highlighted filing

2017

Assets$4,452,514
Liabilities$2,954,939
Net Assets$1,497,575

Operations Trend

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

$6.0M$4.0M$2.0M$0Revenue 2015: $134,234Expenses 2015: $133,301Net Income 2015: $9332015Revenue 2016: $1,439,771Expenses 2016: $340,005Net Income 2016: $1,099,7662016Revenue 2017: $844,651Expenses 2017: $447,775Net Income 2017: $396,8762017Revenue 2018: $5,852,350Expenses 2018: $166,978Net Income 2018: $5,685,3722018Revenue 2019: $5,633,034Expenses 2019: $268,739Net Income 2019: $5,364,2952019Revenue 2020: $1,569,363Expenses 2020: $385,716Net Income 2020: $1,183,6472020Revenue 2021: $2,613,717Expenses 2021: $994,022Net Income 2021: $1,619,6952021Revenue 2022: $2,153,940Expenses 2022: $2,006,579Net Income 2022: $147,3612022Revenue 2023: $2,308,743Expenses 2023: $2,195,420Net Income 2023: $113,3232023Revenue 2024: $2,719,084Expenses 2024: $2,419,523Net Income 2024: $299,5612024

Highlighted filing

2017

Revenue$844,651
Expenses$447,775
Net Income$396,876
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.3
Gross Receipts
$844,651
Mission and Program Overview

Mission

By utilizing historic theatre buildings in downtown westerly, ri, the theatre presents and/or produces culturally significant works of live theatre, dance, music and film; as well as providing educational programs, workshops, symposia and lecture series events to foster an appreciation for theater and cinema as art forms. The theatre provides local arts organizations with space for teaching, rehearsing and performing.

The United Theatre is creating a regional center for the arts and arts education; showcasing world-class performing, visual and creative arts. The Theatre presents and/or produces culturally significant works of live theater, dance, music, film. The Theatre will provide educational programs, workshops, symposia and lecture series to foster an appreciation for theater and cinema as art forms.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,873,389$1,458,227▼ $415,162
Investments Program Related-$1,241,670-
Land, Buildings, and Equipment, Net$698,753$1,118,928▲ $420,175
Savings and Temporary Cash Investments$640,047$614,466▼ $25,581
Cash and Non-Interest-Bearing Accounts$19,862$17,093▼ $2,769
Total Assets$3,234,181$4,452,514▲ $1,218,333
Other Assets Total$2,130$2,130→ $0
Liabilities
Deferred Revenue$1,873,389$1,458,227▼ $415,162
Other Liabilities$60,000$1,241,670▲ $1,181,670
Accounts Payable and Accrued Expenses$3,594$170,852▲ $167,258
Mortgage Notes Payable Secured by Investment Property$196,499$84,190▼ $112,309
Total Liabilities$2,133,482$2,954,939▲ $821,457
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,100,699$1,497,575▲ $396,876
Total Net Assets Fund Balance$1,100,699$1,497,575▲ $396,876
Total Liabilities and Net Assets / Fund Balance$3,234,181$4,452,514▲ $1,218,333

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,118,198$15,230$1,133,428
Equipment$730$791$1,521
Investment Program Related Org$101,361--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$789,089
Program Service Revenue
$15,124
Investment Income
$0
Other Revenue
$40,438
All Other Contributions
$373,928
Change in Net Assets
$396,876
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$342,658
Salaries, Compensation, and Employee Benefits$70,917
Total Fundraising Expense$46,000
Professional Fundraising Fees$34,200
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$45,500$13,000$6,500$65,000
All Other Expenses$40,439$1,445$173$42,057
Fees for Services Professional Fundraising--$34,200$34,200
Fees for Services Other$30,425$2,166-$32,591
Insurance$25,259$3,157$3,157$31,573
Other Expenses$6,362$6,362$1,378$12,724
Advertising$6,040$671-$6,711
Payroll Taxes$4,141$1,184$592$5,917
Interest$4,800--$4,800
Office Expenses$501$56-$557
Travel$517--$517
Depreciation Depletion$438$49-$487
Total Functional Expenses$368,726$33,049$46,000$447,775
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$34,200
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to RFF, Inc.-UTMM, LLC$1,140,309
Due to RFF, Inc.-UTB, LLC$101,361
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Part VI, Section B, line 11B

Form 990 is reviewed by the Treasurer prior to filing. A copy of Form 990 is made available to all Board members.

Form 990, Part VI, Section B, line 12C

Officers and Directors are required annually to disclose any conflicts of interest.

Form 990, Part VI, Section C, line 18

Form 1023 and Form 990 are available to the public upon request of any Director.

Form 990, Part VI, Section C, line 19

Form 1023 and Form 990 are available to the public upon request of any Director.

Filing and Contact Details

Filer

Filer Name
The Ocean Community
EIN
46-3579526
Phone
4013152030
Address
PO Box 384, Westerly, RI 02891

Signing Officer

Name
Nicholas C Moore
Title
Treasurer
Phone
4013152030
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Maureen Fitzgerald
Formed
2013
Legal Domicile
Ri
Voting Board Members
17
Independent Board Members
17
Employees
1
Volunteers
25

Preparer

Firm
Pucci Greene & Fusaro LLC
Address
110 Airport Road Suite 104, Westerly, RI 02891
Preparer
Stephen M Greene CPA
Phone
4015961926
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IRS990/Form990PartVIISectionAGrp/PersonNm13Kevin Kelly
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IRS990/MissionDesc0By utilizing historic theater buildings in downtown Westerly, RI, the Theatre will present and/or produce culturally significant works of live theater, dance, music and film; as well as providing educational programs, workshops, symposia and lecture series events to foster an appreciation for theater and cinema as art forms. The Theatre will also provide local arts organizations with space for teaching, rehearsing and performing.
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IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt056
IRS990/OfficeExpensesGrp/ProgramServicesAmt0501
IRS990/OfficeExpensesGrp/TotalAmt0557
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IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc0Production Expenses
IRS990/OtherExpensesGrp/Desc1Repairs
IRS990/OtherExpensesGrp/Desc2Utilities
IRS990/OtherExpensesGrp/Desc3Miscellaneous
IRS990/OtherExpensesGrp/FundraisingAmt01378
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03581
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11378
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt26362
IRS990/OtherExpensesGrp/ProgramServicesAmt0161059
IRS990/OtherExpensesGrp/ProgramServicesAmt132224
IRS990/OtherExpensesGrp/ProgramServicesAmt211021
IRS990/OtherExpensesGrp/ProgramServicesAmt36362
IRS990/OtherExpensesGrp/TotalAmt0161059
IRS990/OtherExpensesGrp/TotalAmt135805
IRS990/OtherExpensesGrp/TotalAmt213777
IRS990/OtherExpensesGrp/TotalAmt312724
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IRS990/OtherRevenueMiscGrp/BusinessCd0711190
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0-1190
IRS990/OtherRevenueTotalAmt0-1190
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IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt0592
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01184
IRS990/PayrollTaxesGrp/ProgramServicesAmt04141
IRS990/PayrollTaxesGrp/TotalAmt05917
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Maureen Fitzgerald
IRS990/ProfessionalFundraisingInd01
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IRS990/ProgSrvcAccomActy2Grp/Desc0The Theatre provides educational programs, workshops, symposia and lecture series in fostering an appreciation for theater and cinema as art forms.
IRS990/ProgSrvcAccomActy3Grp/Desc0The Theatre utilizes historic theater buildings in downtown Westerly, RI.
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0789089
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IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt027500
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IRS990ScheduleA/Total509Grp/TotalAmt02418656
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0791
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01521
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt01140309
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1101361
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Inv. in United Theatre Managing Member, LLC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1Inv. in United Theatre Building, LLC
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01118198
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt015230
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01133428
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0101361
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11140309
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to RFF, Inc.-UTB, LLC
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Due to RFF, Inc.-UTMM, LLC
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01118928
IRS990ScheduleD/TotalBookValueProgramRltdAmt01241670
IRS990ScheduleD/TotalLiabilityAmt01241670
IRS990ScheduleG/AgrmtProfFundraisingActyInd01
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IRS990ScheduleG/FundraiserActivityInfoGrp/FundraiserControlOfFundsInd00
IRS990ScheduleG/FundraiserActivityInfoGrp/GrossReceiptsAmt00
IRS990ScheduleG/FundraiserActivityInfoGrp/NetToOrganizationAmt00
IRS990ScheduleG/FundraiserActivityInfoGrp/OrganizationBusinessName/BusinessNameLine1Txt0Partners in Philanthropy LLC
IRS990ScheduleG/FundraiserActivityInfoGrp/RetainedByContractorAmt034200
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt022 Drake Drive
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/CityNm0Richmond
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/StateAbbreviationCd0RI

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