Civic Intelligence

The Shakespeare Theatre

990 • Fiscal year 2015 • EIN 52-1405988

Aug 01, 2014 to Jul 31, 2015 • Filed on Mar 14, 2016

516 8th StreetWashington, DC 20003-2834

(202) 547-3230

Siviq Scores

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

Liabilities / Assets

51st percentile

0.32x

Higher debt load relative to assets than 51% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

76th percentile

1.25x

Higher debt load relative to revenue than 76% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Net Margin

25th percentile

-1.4%

Higher net margin than 25% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

54th percentile

$351,859

Higher top officer pay than 54% of similar nonprofits.

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

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Asset Growth

34th percentile

-0.9%

Faster asset growth than 34% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

78th percentile

16%

Faster revenue growth than 78% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Assets

Down

$77,809,136

Down $682,586 (-0.9%) from 2014

Net Assets

Down

$52,853,557

Down $300,894 (-0.6%) from 2014

Liabilities

Down

$24,955,579

Down $381,692 (-1.5%) from 2014

Revenue

Up

$19,976,736

Up $2,742,569 (+16%) from 2014

Expenses

Down

$20,262,499

Down $1,487,008 (-6.8%) from 2014

Net Income

Up

-$285,763

Up $4,229,577 (+94%) from 2014

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2010: $85,226,532Liabilities 2010: $28,094,817Net Assets 2010: $57,131,7152010Assets 2011: $81,836,198Liabilities 2011: $17,008,220Net Assets 2011: $64,827,9782011Assets 2012: $82,346,600Liabilities 2012: $19,037,456Net Assets 2012: $63,309,1442012Assets 2013: $81,023,363Liabilities 2013: $23,344,950Net Assets 2013: $57,678,4132013Assets 2014: $78,491,722Liabilities 2014: $25,337,271Net Assets 2014: $53,154,4512014Assets 2015: $77,809,136Liabilities 2015: $24,955,579Net Assets 2015: $52,853,5572015Assets 2016: $74,656,141Liabilities 2016: $23,944,163Net Assets 2016: $50,711,9782016Assets 2017: $72,540,638Liabilities 2017: $18,788,088Net Assets 2017: $53,752,5502017Assets 2018: $75,300,729Liabilities 2018: $18,627,371Net Assets 2018: $56,673,3582018Assets 2019: $71,167,205Liabilities 2019: $18,777,129Net Assets 2019: $52,390,0762019Assets 2020: $65,973,767Liabilities 2020: $19,944,456Net Assets 2020: $46,029,3112020Assets 2021: $71,331,764Liabilities 2021: $20,608,905Net Assets 2021: $50,722,8592021Assets 2022: $68,738,785Liabilities 2022: $16,681,848Net Assets 2022: $52,056,9372022Assets 2023: $64,257,141Liabilities 2023: $15,956,112Net Assets 2023: $48,301,0292023Assets 2024: $67,730,499Liabilities 2024: $16,042,237Net Assets 2024: $51,688,2622024Assets 2025: $65,453,793Liabilities 2025: $18,013,008Net Assets 2025: $47,440,7852025

Highlighted filing

2015

Assets$77,809,136
Liabilities$24,955,579
Net Assets$52,853,557

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $20,447,2172010Expenses 2011: $21,230,4842011Expenses 2012: $23,296,4122012Revenue 2013: $16,012,263Expenses 2013: $21,776,938Net Income 2013: -$5,764,6752013Revenue 2014: $17,234,167Expenses 2014: $21,749,507Net Income 2014: -$4,515,3402014Revenue 2015: $19,976,736Expenses 2015: $20,262,499Net Income 2015: -$285,7632015Revenue 2016: $19,226,819Expenses 2016: $21,267,749Net Income 2016: -$2,040,9302016Revenue 2017: $24,729,412Expenses 2017: $21,930,518Net Income 2017: $2,798,8942017Revenue 2018: $24,192,285Expenses 2018: $21,437,608Net Income 2018: $2,754,6772018Revenue 2019: $18,108,545Expenses 2019: $22,126,263Net Income 2019: -$4,017,7182019Revenue 2020: $13,307,263Expenses 2020: $19,693,885Net Income 2020: -$6,386,6222020Revenue 2021: $14,219,917Expenses 2021: $10,426,674Net Income 2021: $3,793,2432021Revenue 2022: $22,720,775Expenses 2022: $20,201,085Net Income 2022: $2,519,6902022Revenue 2023: $15,190,951Expenses 2023: $19,205,034Net Income 2023: -$4,014,0832023Revenue 2024: $28,744,148Expenses 2024: $25,833,247Net Income 2024: $2,910,9012024Revenue 2025: $20,417,623Expenses 2025: $25,021,598Net Income 2025: -$4,603,9752025

Highlighted filing

2015

Revenue$19,976,736
Expenses$20,262,499
Net Income-$285,763
Jump To
Filing Snapshot
Filing Period
Aug 1, 2014 to Jul 31, 2015
Signed
Mar 14, 2016
Return Version
2014v6.0
Gross Receipts
$22,215,090
Mission and Program Overview

Mission

The Shakespeare Theatre Company creates, preserves and promotes classic theatre-ambitious, enduring plays with universal themes-for all audiences. Through the creation of provocative, imaginative, and accessible theatre, STC ignites a dialogue that connects the universality of classic works to the shared human experiences of the modern world.

The Shakespeare Theatre Company (STC) creates, preserves, and promotes classic theatre-ambitious, enduring plays with universal themes-for all audiences. Through the creation of provocative, imaginative, and accessible theatre, STC ignites a dialogue that connects the universality of classic works to the shared human experiences of the modern world. The Shakespeare Theatre Company operates the Harman Center for the Arts (comprised of the 451-seat Lansburgh Theatre and the 774-seat Sidney Harman Hall) and annually offers six mainstage plays a Free For All presentation and 25 arts education, access, and engagement programs for over 200,000 audience members and participants.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$66,987,592$65,378,163▼ $1,609,429
Pledges and Grants Receivable$4,517,744$5,050,482▲ $532,738
Investments Other Securities$4,378,310$4,290,856▼ $87,454
Loans From Officers Directors$3,310,000$3,310,000→ $0
Cash and Non-Interest-Bearing Accounts$1,161,179$1,231,989▲ $70,810
Prepaid Expenses and Deferred Charges$744,317$916,727▲ $172,410
Accounts Receivable$174,208$422,632▲ $248,424
Savings and Temporary Cash Investments$20,739$24,343▲ $3,604
Total Assets$78,491,722$77,809,136▼ $682,586
Other Assets Total$507,633$493,944▼ $13,689
Liabilities
Mortgage Notes Payable Secured by Investment Property$14,154,026$13,838,745▼ $315,281
Deferred Revenue$4,899,925$4,891,862▼ $8,063
Accounts Payable and Accrued Expenses$2,535,004$2,574,545▲ $39,541
Other Liabilities$438,316$340,427▼ $97,889
Total Liabilities$25,337,271$24,955,579▼ $381,692
Net Assets / Fund Balance
Unrestricted Net Assets$49,623,507$49,114,642▼ $508,865
Permanently Rstr Net Assets$1,886,062$1,886,062→ $0
Temporarily Rstr Net Assets$1,644,882$1,852,853▲ $207,971
Total Net Assets Fund Balance$53,154,451$52,853,557▼ $300,894
Total Liabilities and Net Assets / Fund Balance$78,491,722$77,809,136▼ $682,586

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$51,600,374$14,587,346$66,187,720
Land$12,548,037-$12,548,037
Equipment$1,169,825$4,990,074$6,159,899
Leasehold Improvements$59,927$1,138,230$1,198,157
Other Securities$708,643--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$1,697,901-▲ $46,756$-82,519$1,662,138
2013$1,504,409-▲ $267,720$74,228$1,697,901
2012$1,422,289-▲ $158,201$76,081$1,504,409
2011$1,599,277-▼ $28,694$148,294$1,422,289
2010$1,414,791-▲ $260,038$75,552$1,599,277
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael KahnArtistic DirectorFT$320,810$31,049$351,859
Chris JenningsManaging Director (Ex Officer)FT$223,411$11,642$235,053
Edward ZakreskiChief Development OfficerFT$179,324$8,320$187,644
Michael PortoChief Marketing officerFT$128,198$6,437$134,635
Amy GardnerSenior Associate Director of DevelopmentFT$112,215$15,554$127,769
James W RoemerDirector of AdministrationFT$103,972$8,006$111,978

Highest Paid Contractors

ContractorServicesLocationCompensation
610620 F St A CondominiumCondominium Fees600 Washington Ave 1100, ST Louis, MO 63101$205,885
Elul Joint VentureCommercial Property5530 Wisconsin Avenue Ste 1209, Chevy Chase, MD 20815$156,887
Buyer Cellar Tour LLCRoyalties and Fees101 E 15th Street 2nd Fl, New York, NY 10003$131,864
Gunwyn-lansburgh LtdCondominium Fees and Leasing425 8th St NW 229, Washington, DC 20004$129,543
Grantland K CohenCommercial Property112 Bella Cima Drive, Austin, TX 78734$109,016
Revenue and Support

Revenue Composition

Contributions and Grants
$10,399,469
Program Service Revenue
$8,884,009
Investment Income
$69,275
Other Revenue
$623,983
All Other Contributions
$8,629,815
Change in Net Assets
$-285,763

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded9$408,577Fair Market Value
Total Noncash Contributions9$408,577-

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,404,439
Revenue Not Reported on Financial Statements
$-427,703
Revenue Not Reported on Form 990
$500,003
Other Revenue Adjustments
$-427,703
Total Revenue per Audited Statements
$20,904,442
Total Revenue per Form 990
$19,976,736
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,622,129
Other Expenses$9,524,752
Total Fundraising Expense$1,705,866
Grants and Similar Amounts Paid$115,618
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,523,761$642,413$804,284$7,970,458
Depreciation Depletion$2,108,543--$2,108,543
Occupancy$2,080,369-$10,000$2,090,369
Fees for Services Other$2,026,249--$2,026,249
Payroll Taxes$1,449,547$46,385$60,312$1,556,244
Other Employee Benefits$809,526$38,481$62,076$910,083
Interest-$687,130-$687,130
Advertising$375,069--$375,069
Travel$240,993-$86,950$327,943
Royalties$314,490--$314,490
Other Expenses$126,709-$184,725$311,434
Office Expenses-$189,277$67,469$256,746
Pension Plan Contributions$164,432$11,593$9,319$185,344
Grants to Domestic Individuals$115,618--$115,618
Insurance-$104,988-$104,988
Fees for Services Accounting-$36,707-$36,707
Fees for Services Legal-$6,872-$6,872
Total Functional Expenses$16,792,787$1,763,846$1,705,866$20,262,499

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$21,261,866
Expenses per Audited Statements$20,262,499
Total Expenses per Form 990$20,262,499
Expenses Not Reported on Form 990$999,367
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$427,703
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Harman Gala$1,006,613-$181,315-
Will-On the Hill$501,550-$16,504-
Total Events$1,508,163-$427,703$-427,703
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$3,310,000$3,310,000→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease Payable$340,427
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11

A draft of Form 990 is reviewed by the Audit Committee of the board. The approved Form 990 is then circulated to the entire board.

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

The conflict of interest policy is applicable to board members. The Board Chairman reviews any conflicts of interest that are identified and determines whether actual conflicts of interest exist. To ensure the Theatre operates in accordance with the highest fiduciary standards applicable to non-profit corporations, the Board, the Compensation Committee or another committee appointed by the Chair of the Board of Trustees conduct periodic reviews that include, at a minimum, findings on the following subjects: -Whether the Theatre's compensation arrangements and benefits are the result of arm's-length bargaining and, based on competent survey information, are reasonable. -Whether Theatre's arrangements with third parties are properly recorded, reflect reasonable investment criteria or payments for goods and services, further the Theatre's purposes and do not result in private incurement, impermissible private benefit or an excess benefit transaction under the Code.

Form 990, Part VI, Section B, line 15

The executive and key employee compensation is recommended by the Executive Compensation Committee of the Board of Trustees based upon comparative data collected from a salary survey conducted by the Theatre Communications Group (TCG), a national service organization for the non-profit theater community. The recommendation is then reviewed and approved by the Executive Committee and full board.

Form 990, Part VI, Section C, line 19

The Shakespeare Theatre makes its governing documents, conflicts of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Shakespeare Theatre
EIN
52-1405988
Phone
2025473230
Address
516 8th Street, Washington, DC 20003-2834

Signing Officer

Name
Chris Jennings
Title
Managing Director
Phone
2025473230
Signed
2016-03-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Jennings
Formed
1985
Legal Domicile
Dc
Voting Board Members
0
Independent Board Members
39
Employees
593
Volunteers
1,500

Preparer

Firm
SB & Company LLC
Address
200 International Circle Suite 5500, Hunt Valley, MD 21030
Preparer
Monique Booker
Phone
4105840060
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 2C:

The Audit Committee is responsible for the oversight of the audit and the selection of an independent accountant. Both processes have not changed from prior year.

Financial Statement Notes

Part V, Line 4:

The Theatre's endowment consists of one fund established for support of the performing arts.

Part X, Line 2:

The Theatre is exempt from Federal income taxes under Section 501(c)(3) of the Internal Revenue Code and applicable District of Columbia income tax laws and qualifies for charitable contribution deductions. Generally accepted accounting principles in the United States of America provide consistent guidance for the accounting for uncertainty in income taxes recognized in an entity's financial statements and prescribe a threshold of more likely than not for recognition of tax positions taken or expected to be taken in a tax return. The Theatre performed an evaluation of uncertain tax positions for the year ended June 30, 2015, and determined that there were no matters that would require recognition in the financial statements or which may have any effect on its tax-exempt status. As of July 31, 2015, the statute of limitations for tax years 2011 through 2014 remains open with the U.S. Federal jurisdiction or the various states and local jurisdictions in which the Theatre files tax returns. It is the Theatre's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense.

Part XI, Line 4B - Other Adjustments:

Fundraising Expenses -427,703.

Part XII, Line 2D - Other Adjustments:

Provision for Doubtful Pledges Deferred Financing Costs Fundraising Expenses 427,703. Adjustments to other expenses 29,738.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0PERFORMING ARTS PROGRAMS - The Shakespeare Theatre Company (STC) believes that a classical play is defined not only by its poetic language or its influential playwright, but also by the timelessness of the themes and questions that it poses to its audience. The universal themes of family, love, patriotism, and leadership depicted in STC's mainstage offerings are relevant to, and relatable by, all people. Furthermore, many of the themes found in classic plays are particularly relevant to contemporary Washington, D.C. audiences in light of national and international political, social, and economic realities. Since its founding in 1985, the Shakespeare Theatre Company has performed more than 150 productions including every play in Shakespeare's commonly recognized canon for over 2.5 million audience members. With each mainstage season STC stages six classic plays including the works of Shakespeare and his 16th century peers, commissions of infrequently staged classics, plays written by 19th and 20th century playwrights which are destined to become classics, and musicals and international presentations based on classic texts and stories.The plays of Shakespeare are at the core of STC's mission. In addition to the Bard's frequently staged works, the Shakespeare Theatre Company's audiences have enjoyed his rarely performed plays including Coriolanus (1991, 2000, 2013), The Two Gentleman of Verona (2001 & 2012), Henry IV Part Two (2004 & 2014), Titus Andronicus (2007), and Cymbeline (2011). STC's fresh takes on well-known plays-such as a photo-negative production of Othello starring Patrick Stewart (1997), and a King Lear set in the chaotic atmosphere of post-Soviet Yugoslavia and starring Stacy Keach (2009)-have solidified STC's reputation as one of the world's three great Shakespearean theatres (The Economist) which produces a repertory of classics that no New York theatre of similar size and scale can match (The New York Times). For its artistically excellent productions of the classics, STC has garnered important recognition including the 2012 Regional Theatre Tony Award and 83 Helen Hayes Awards.Through STC's ReDiscovery Commissions series, the Theatre also aims to translate and adapt lost classic plays-or those that are infrequently produced and mostly unknown-and reintroduce these works into the standard American classical repertoire. For each ReDiscovered play, the Theatre selects a modern playwright to translate, when necessary, and adapt the work while remaining faithful to the author's original intentions for the piece. Playwrights also modernize dated references and story elements that are unlikely to resonate with contemporary audiences. When the script is complete, the play is then staged as part of the Shakespeare Theatre Company's mainstage season, published, and distributed to other theatres to encourage future stagings. Since 2010, this program has commissioned six adaptations of classic plays: Pierre Corneille's The Liar (2010), Jean-Francois Regnard's The Heir Apparent (2011), and Alexis Piron's The Metromaniacs (2015)-each translated and adapted by David Ives Friedrich Schiller's Wallenstein (2013)-translated, adapted, and condensed from three parts into one by former U.S. Poet Laureate Robert Pinsky Oscar Wilde's Salome (2015)-adapted by Yael Farber and Richard Brinsley Sheridan's The Critic (2016)-adapted by Jeffrey Hatcher. The Theatre's efforts to reintroduce these plays into the American classical canon are succeeding. The Liar and The Heir Apparent have been staged in regional and collegiate theatres and The Metromaniacs will play at the Old Globe in 2016.STC is also committed to the production of modern classics-plays written by 19th and 20th century playwrights which are destined to endure as a part of the American classical canon-such as Harold Pinter's Old Times (2011), Eugene O'Neill's Strange Interlude (2012), and Noel Coward's Private Lives (2014). The Theatre also stages artistically excellent music
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$65.5$18.0$47.4$20.4$25.0$4.60
2024Detailed filing. Detailed filing data is available for this year.$67.7$16.0$51.7$28.7$25.8$2.91
2023Detailed filing. Detailed filing data is available for this year.$64.3$16.0$48.3$15.2$19.2$4.01
2022Detailed filing. Detailed filing data is available for this year.$68.7$16.7$52.1$22.7$20.2$2.52
2021Detailed filing. Detailed filing data is available for this year.$71.3$20.6$50.7$14.2$10.4$3.79
2020Detailed filing. Detailed filing data is available for this year.$66.0$19.9$46.0$13.3$19.7$6.39
2019Detailed filing. Detailed filing data is available for this year.$71.2$18.8$52.4$18.1$22.1$4.02
2018Detailed filing. Detailed filing data is available for this year.$75.3$18.6$56.7$24.2$21.4$2.75
2017Detailed filing. Detailed filing data is available for this year.$72.5$18.8$53.8$24.7$21.9$2.80
2016Detailed filing. Detailed filing data is available for this year.$74.7$23.9$50.7$19.2$21.3$2.04
2015Detailed filing. Detailed filing data is available for this year.$77.8$25.0$52.9$20.0$20.3$0.29
2014Detailed filing. Detailed filing data is available for this year.$78.5$25.3$53.2$17.2$21.7$4.52
2013Summary only. Only limited summary data is available for this year.$81.0$23.3$57.7$16.0$21.8$5.76
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$82.3$19.0$63.3$23.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$81.8$17.0$64.8$21.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$85.2$28.1$57.1$20.4
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $50M-$100M nonprofits