Civic Intelligence

Two River Theatre Company Inc

EIN 52-1857757 • 501(c)3 • Red Bank, NJ

Profile

Two river theater company's mission is to create great american theater by developing and producing new works and world masterpieces. We cultivate an audience that cherishes the intimate joy of theater, enriched when shared by a community of others.

21 Bridge AvenueRed Bank, NJ 07701

www.tworivertheater.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

9th percentile

0.01x

Higher debt load relative to assets than 9% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Liabilities / Revenue

23rd percentile

0.15x

Higher debt load relative to revenue than 23% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Net Margin

6th percentile

-30%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Top Officer Pay

17th percentile

$249,723

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Asset Growth

50th percentile

5.9%

Faster asset growth than 50% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Revenue Growth

37th percentile

3.9%

Faster revenue growth than 37% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Assets

Up

$118,563,924

Up $173,457 (+0.1%) from 2022

Liabilities

Up

$750,313

Up $184,229 (+33%) from 2022

Net Assets

Down

$117,813,611

Down $10,772 (-0.0%) from 2022

Revenue

Down

$6,124,532

Down $2,606,355 (-30%) from 2022

Expenses

Up

$7,962,283

Up $291,553 (+3.8%) from 2022

Net Income

Down

-$1,837,751

Down $2,897,908 (-273%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2010: $24,070,476Liabilities 2010: $577,829Net Assets 2010: $23,492,6472010Assets 2011: $23,581,810Liabilities 2011: $733,207Net Assets 2011: $22,848,6032011Assets 2012: $23,001,243Liabilities 2012: $737,547Net Assets 2012: $22,263,6962012Assets 2013: $22,343,009Liabilities 2013: $760,197Net Assets 2013: $21,582,8122013Assets 2014: $21,696,014Liabilities 2014: $707,112Net Assets 2014: $20,988,9022014Assets 2015: $21,297,514Liabilities 2015: $832,619Net Assets 2015: $20,464,8952015Assets 2016: $86,829,201Liabilities 2016: $814,188Net Assets 2016: $86,015,0132016Assets 2017: $92,076,510Liabilities 2017: $941,973Net Assets 2017: $91,134,5372017Assets 2018: $100,097,212Liabilities 2018: $980,978Net Assets 2018: $99,116,2342018Assets 2019: $110,777,215Liabilities 2019: $2,571,873Net Assets 2019: $108,205,3422019Assets 2020: $103,197,018Liabilities 2020: $1,360,351Net Assets 2020: $101,836,6672020Assets 2021: $129,619,755Liabilities 2021: $1,368,132Net Assets 2021: $128,251,6232021Assets 2022: $118,390,467Liabilities 2022: $566,084Net Assets 2022: $117,824,3832022Assets 2023: $118,563,924Liabilities 2023: $750,313Net Assets 2023: $117,813,6112023

Highlighted filing

2023

Assets$118,563,924
Liabilities$750,313
Net Assets$117,813,611

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$80M$60M$40M$20M$0-$20MExpenses 2010: $4,286,9762010Expenses 2011: $4,776,1072011Expenses 2012: $5,746,9002012Revenue 2013: $5,279,029Expenses 2013: $5,959,913Net Income 2013: -$680,8842013Revenue 2014: $5,331,517Expenses 2014: $5,932,672Net Income 2014: -$601,1552014Revenue 2015: $5,572,542Expenses 2015: $6,094,996Net Income 2015: -$522,4542015Revenue 2016: $69,151,689Expenses 2016: $5,988,544Net Income 2016: $63,163,1452016Revenue 2017: $8,164,937Expenses 2017: $6,348,940Net Income 2017: $1,815,9972017Revenue 2018: $13,181,968Expenses 2018: $6,597,456Net Income 2018: $6,584,5122018Revenue 2019: $15,738,092Expenses 2019: $7,537,047Net Income 2019: $8,201,0452019Revenue 2020: $2,546,861Expenses 2020: $6,953,895Net Income 2020: -$4,407,0342020Revenue 2021: $4,214,788Expenses 2021: $5,898,858Net Income 2021: -$1,684,0702021Revenue 2022: $8,730,887Expenses 2022: $7,670,730Net Income 2022: $1,060,1572022Revenue 2023: $6,124,532Expenses 2023: $7,962,283Net Income 2023: -$1,837,7512023

Highlighted filing

2023

Revenue$6,124,532
Expenses$7,962,283
Net Income-$1,837,751

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$119$0.75$118$6.12$7.96$1.84
2022Summary only. Only limited summary data is available for this year.$118$0.57$118$8.73$7.67$1.06
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$130$1.37$128$4.21$5.90$1.68
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$103$1.36$102$2.55$6.95$4.41
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$111$2.57$108$15.7$7.54$8.20
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$100$0.98$99.1$13.2$6.60$6.58
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$92.1$0.94$91.1$8.16$6.35$1.82
2016Detailed filing. Detailed filing data is available for this year.$86.8$0.81$86.0$69.2$5.99$63.2
2015Detailed filing. Detailed filing data is available for this year.$21.3$0.83$20.5$5.57$6.09$0.52
2014Detailed filing. Detailed filing data is available for this year.$21.7$0.71$21.0$5.33$5.93$0.60
2013Summary only. Only limited summary data is available for this year.$22.3$0.76$21.6$5.28$5.96$0.68
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.0$0.74$22.3$5.75
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.6$0.73$22.8$4.78
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.1$0.58$23.5$4.29
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 19, 2021
Return Version
2020v4.1
Gross Receipts
$12,721,411
Mission and Program Overview

Mission

To create great american theater by developing and producing new works and world masterpieces that most richly direct our gaze to the life of the human spirit. We cultivate an audience that cherishes the intimate joy of theater, enriched when shared by a community of others.

To create great american theater by developing and producing new works and world masterpieces. Please see schedule o for continuation of full mission statement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$63,388,306$87,989,234▲ $24,600,928
Land, Buildings, and Equipment, Net$33,251,082$32,924,815▼ $326,267
Savings and Temporary Cash Investments$5,802,730$7,720,023▲ $1,917,293
Pledges and Grants Receivable$566,541$490,826▼ $75,715
Prepaid Expenses and Deferred Charges$64,936$103,688▲ $38,752
Accounts Receivable$6,512$2,756▼ $3,756
Cash and Non-Interest-Bearing Accounts$1,778$1,778→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$103,197,018$129,619,755▲ $26,422,737
Other Assets Total$115,133$386,635▲ $271,502
Liabilities
Unsecured Notes Loans Payable$658,055$682,512▲ $24,457
Other Liabilities$238,337$269,566▲ $31,229
Deferred Revenue$259,905$261,419▲ $1,514
Accounts Payable and Accrued Expenses$204,054$154,635▼ $49,419
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,360,351$1,368,132▲ $7,781
Net Assets / Fund Balance
Net Assets With Donor Restrictions$66,968,488$92,276,369▲ $25,307,881
Net Assets Without Donor Restrictions$34,868,179$35,975,254▲ $1,107,075
Total Net Assets Fund Balance$101,836,667$128,251,623▲ $26,414,956
Total Liabilities and Net Assets / Fund Balance$103,197,018$129,619,755▲ $26,422,737

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$28,760,677$9,370,828-
Other Land Buildings$452,426$182,601-
Land$3,701,950--
Equipment$9,762$506,591-
Other Securities$6,934,103--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$62,503,995---$62,503,995
2019$62,503,995---$62,503,995
2018$62,503,995---$62,503,995
2017$62,503,995---$62,503,995
2016$62,503,995---$62,503,995
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John DiasArtistic DirectorFT$263,222$24,303$287,525
Michael HurstManaging DirectorFT$222,756$22,618$245,374
Denyse ReedDirector of DevelopmentFT$104,142$5,692$109,834

Board Members and Trustees

NameTitle
Edward Mc Kenna JrPresident
Marilyn BroegeVice President
AMANDA ButterbaughBoard Member
Adam RechnitzBoard Member
Anne Marie SchultzBoard Member
Carolyn DeSenaBoard Member
Joan H RechnitzBoard Member
Lauren NicosiaBoard Member
Mary Carol StunkelBoard Member
Maureen SillimanBoard Member
Richard WorleyBoard Member
Todd HermanBoard Member
Mary Jane KroonSecretary
Geoffrey SadwithTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Cambridge AssociatesFinancial Consultant437 MADISON AVE, New York, NY 10022$150,000
Revenue and Support

Revenue Composition

Contributions and Grants
$2,538,552
Program Service Revenue
$209,743
Investment Income
$995,572
Other Revenue
$470,921
All Other Contributions
$1,026,326
Change in Net Assets
$-1,684,070

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,214,788
Revenue Not Reported on Form 990
$28,100,401
Total Revenue per Audited Statements
$32,315,189
Total Revenue per Form 990
$4,214,788
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,001,116
Other Expenses$2,786,202
Total Fundraising Expense$535,614
Grants and Similar Amounts Paid$111,540
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,674,136$59,583$233,217$1,966,936
Depreciation Depletion$264,609$832,223$22,498$1,119,330
Current Officers, Directors, Trustees, and Key Employees$345,619$154,963$120,527$621,109
Occupancy$477,665$4,774$4,604$487,043
Payroll Taxes$152,007$15,592$26,399$193,998
Fees for Services Other$158,056$4,883$16,789$179,728
Fees for Service Investment Mgmnt Fees-$156,433-$156,433
Insurance$120,024$8,818$10,564$139,406
Other Employee Benefits$97,547$13,301$25,754$136,602
Grants to Domestic Orgs$111,540--$111,540
Pension Plan Contributions$57,909$9,114$15,448$82,471
Advertising$73,953$0$5,900$79,853
Office Expenses$61,968$6,652$11,156$79,776
Information Technology$60,273$5,728$6,679$72,680
Royalties$64,357--$64,357
Fees for Services Accounting-$39,095-$39,095
Other Expenses$20,035$0$949$20,984
Travel$3,623$665$15,774$20,062
All Other Expenses$307$2,411$1,200$3,918
Fees for Services Legal-$1,427-$1,427
Total Functional Expenses$4,022,052$1,341,192$535,614$5,898,858

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,900,233
Expenses per Audited Statements$5,898,858
Total Expenses per Form 990$5,898,858
Expenses Not Reported on Form 990$1,375
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Global Concepts Charter SchoolBuffalo, NY501(c)(3)Diverse Programming$22,308
Neo PhilanthropyNew York, NY501(c)(3)Diverse Programming$22,308
Pro Rads IncNew York, NY501(c)(3)Diverse Programming$22,308
The Actors' FundNew York, NY501(c)(3)Diverse Programming$22,308
The Audre Lorde Project IncBrooklyn, NY501(c)(3)Diverse Programming$22,308
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$44,760
Fundraising Gross Income$44,760
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Virtual Event$222,080$44,760$44,760$0
Total Events$222,080$44,760$44,760-
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Salary and Benefits Payable$178,865
Vacation Payable$90,701
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Joan h. Rechnitz and adam rechnitz have a family relationship.

Form 990, Part VI, Section B, Line 11

a DRAFT OF FORM 990 IS SENT TO BOARD MEMBERS FOR REVIEW AND COMMENTS prior to submission.

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

The organization requests board members and key employees to sign an annual conflict of interest policy certification. In addition, board members and key employees are requested to complete an annual form 990 disclosure, which requests disclosure of any interest that could give rise to conflicts.

Form 990, Part VI, Section B, Line 15

the COMPENSATION OF KEY EMPLOYEES IS DISCUSSED AND APPROVED BY THE BOARD. COMPENSATION IS GENERALLY BASED ON INDUSTRY STANDARDs.

Form 990, Part VI, Section C, Line 19

FORM 990 IS AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG. ALL DOCUMENTS ARE also AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Two River Theatre Company Inc
EIN
52-1857757
In Care Of
% MICHAEL HURST
Phone
7323451400
Address
21 BRIDGE AVENUE, RED BANK, NJ 07701

Signing Officer

Name
Michael Hurst
Title
Managing Director
Phone
7323451400
Signed
2021-11-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Hurst
Formed
1993
Legal Domicile
Nj
Voting Board Members
14
Independent Board Members
14
Employees
196
Volunteers
0

Preparer

Firm
Withumsmithbrown Pc
Address
1411 BROADWAY 9TH FLOOR, NEW YORK, NY 10018
Preparer
Catherine Bendall CPA
Phone
2127519100
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

the Organization's mission is to create great American theater by developing and producing new works and world masterpieces that most richly direct our gaze to the life of the human spirit. We cultivate an audience that cherishes the intimate joy of theater, enriched when shared by a community of others.

Form 990, Part XII, Line 2C

The board has approved the audit committee for the oversight of the audit which includes reviewing the audited financials.

Form 990, Part III, Line 4D Other Program Services

Miscellaneous revenue earned by the organization for activities related to the organization's exempt purpose.

Financial Statement Notes

Part X, Line 2

The organization believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions.

Part V, Line 4

The investment income from the Endowment funds shall be expended for the operational, programmatic, management, capital and general expenses of the Organization at the discretion of the Board of Trustees, Endowment committee and the terms of the endowment agreement.

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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/Desc0During the temporary shut-down of our theater facility due to the Pandemic, the 2020-2021 Season continued our commitment to bring extraordinary artists and programs to our audiences virtually/digitally. This year's digital offerings included #Sceneattworiver, an ongoing series to stay in touch with our audiences; Two River Rising, a 4 play reading series that looked at our history of diverse programming (and also supported 5 social justice organizations); Two River Players, a series comprised of staff and guest artists reading classic plays by Shakespeare, Anton Chekhov and more; and newly commissioned Radio Plays, including "THE MEMORY MOTEL" by David Greenspan.
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