Civic Intelligence

Adventure Theatre Inc.

990 • Fiscal year 2018 • EIN 52-6054621

Sep 01, 2017 to Aug 31, 2018 • Filed on Jan 24, 2019

7300 Macarthur BlvdGlen Echo, MD 20812

(301) 634-2270

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.31x

Higher debt load relative to assets than 72% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

58th percentile

0.14x

Higher debt load relative to revenue than 58% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

65th percentile

9.3%

Higher net margin than 65% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

62nd percentile

$86,214

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

23rd percentile

-5.1%

Faster asset growth than 23% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

71st percentile

16%

Faster revenue growth than 71% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$1,209,560

Down $65,260 (-5.1%) from 2017

Net Assets

Up

$830,657

Up $249,528 (+43%) from 2017

Liabilities

Down

$378,903

Down $314,788 (-45%) from 2017

Revenue

Up

$2,697,344

Up $375,419 (+16%) from 2017

Expenses

Down

$2,447,816

Down $34,587 (-1.4%) from 2017

Net Income

Up

$249,528

Up $410,006 (+255%) from 2017

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $1,338,647Liabilities 2010: $248,301Net Assets 2010: $1,090,3462010Assets 2011: $1,257,179Liabilities 2011: $272,400Net Assets 2011: $984,7792011Assets 2012: $1,384,348Liabilities 2012: $347,980Net Assets 2012: $1,036,3682012Assets 2013: $1,252,727Liabilities 2013: $314,096Net Assets 2013: $938,6312013Assets 2014: $1,314,401Liabilities 2014: $249,119Net Assets 2014: $1,065,2822014Assets 2015: $1,222,088Liabilities 2015: $337,712Net Assets 2015: $884,3762015Assets 2016: $1,272,589Liabilities 2016: $530,982Net Assets 2016: $741,6072016Assets 2017: $1,274,820Liabilities 2017: $693,691Net Assets 2017: $581,1292017Assets 2018: $1,209,560Liabilities 2018: $378,903Net Assets 2018: $830,6572018Assets 2019: $1,157,592Liabilities 2019: $305,706Net Assets 2019: $851,8862019Assets 2020: $1,032,517Liabilities 2020: $647,452Net Assets 2020: $385,0652020Assets 2021: $1,938,841Liabilities 2021: $892,289Net Assets 2021: $1,046,5522021Assets 2022: $2,756,388Liabilities 2022: $1,657,730Net Assets 2022: $1,098,6582022Assets 2023: $1,791,902Liabilities 2023: $1,188,973Net Assets 2023: $602,9292023Assets 2024: $863,656Liabilities 2024: $1,206,755Net Assets 2024: -$343,0992024Assets 2025: $516,827Liabilities 2025: $1,124,489Net Assets 2025: -$607,6622025

Highlighted filing

2018

Assets$1,209,560
Liabilities$378,903
Net Assets$830,657

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,319,3692010Revenue 2011: $1,495,466Expenses 2011: $1,586,956Net Income 2011: -$91,4902011Expenses 2012: $1,786,5862012Revenue 2013: $2,074,045Expenses 2013: $2,140,653Net Income 2013: -$66,6082013Revenue 2014: $2,486,794Expenses 2014: $2,360,143Net Income 2014: $126,6512014Revenue 2015: $2,260,162Expenses 2015: $2,441,068Net Income 2015: -$180,9062015Revenue 2016: $2,378,785Expenses 2016: $2,521,554Net Income 2016: -$142,7692016Revenue 2017: $2,321,925Expenses 2017: $2,482,403Net Income 2017: -$160,4782017Revenue 2018: $2,697,344Expenses 2018: $2,447,816Net Income 2018: $249,5282018Revenue 2019: $2,699,019Expenses 2019: $2,677,790Net Income 2019: $21,2292019Revenue 2020: $1,728,076Expenses 2020: $2,194,897Net Income 2020: -$466,8212020Revenue 2021: $2,322,833Expenses 2021: $1,661,346Net Income 2021: $661,4872021Revenue 2022: $2,520,878Expenses 2022: $2,468,772Net Income 2022: $52,1062022Revenue 2023: $1,152,338Expenses 2023: $1,648,067Net Income 2023: -$495,7292023Revenue 2024: $1,268,742Expenses 2024: $2,214,770Net Income 2024: -$946,0282024Revenue 2025: $1,914,368Expenses 2025: $2,178,931Net Income 2025: -$264,5632025

Highlighted filing

2018

Revenue$2,697,344
Expenses$2,447,816
Net Income$249,528
Jump To
Filing Snapshot
Filing Period
Sep 1, 2017 to Aug 31, 2018
Signed
Jan 24, 2019
Return Version
2017v2.3
Gross Receipts
$2,727,303
Mission and Program Overview

Mission

Adventure theatre mtc educates and inspires new generations of theater artists and audiences with exceptional theatrical experiences. It is the pre-eminent musical theater academy for youth in the dc region with an integrated and nationally renowned professional theater for family audiences.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$829,746$768,646▼ $61,100
Accounts Receivable$336,197$340,221▲ $4,024
Prepaid Expenses and Deferred Charges$32,662$70,081▲ $37,419
Cash and Non-Interest-Bearing Accounts$51,452$5,849▼ $45,603
Loans From Officers Directors$67,500$5,000▼ $62,500
Total Assets$1,274,820$1,209,560▼ $65,260
Other Assets Total$24,763$24,763→ $0
Liabilities
Deferred Revenue$234,042$194,608▼ $39,434
Accounts Payable and Accrued Expenses$152,149$114,295▼ $37,854
Other Liabilities$240,000$65,000▼ $175,000
Total Liabilities$693,691$378,903▼ $314,788
Net Assets / Fund Balance
Unrestricted Net Assets$551,730$813,184▲ $261,454
Temporarily Rstr Net Assets$29,399$17,473▼ $11,926
Total Net Assets Fund Balance$581,129$830,657▲ $249,528
Total Liabilities and Net Assets / Fund Balance$1,274,820$1,209,560▼ $65,260
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Michael J BobbittArtistic DirectorFT$86,214$86,214
Leon SeemannManaging Director-$70,424$70,424

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$816,053
Program Service Revenue
$1,729,632
Investment Income
$0
Other Revenue
$151,659
All Other Contributions
$331,753
Change in Net Assets
$249,528

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,727,303
Revenue Not Reported on Financial Statements
$-29,959
Revenue Not Reported on Form 990
$77,796
Other Revenue Adjustments
$-29,959
Total Revenue per Audited Statements
$2,805,099
Total Revenue per Form 990
$2,697,344
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,340,026
Salaries, Compensation, and Employee Benefits$1,107,790
Total Fundraising Expense$150,704
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$510,607$200,296$83,082$793,985
Fees for Services Other$277,464$12,000$150$289,614
Occupancy$248,803--$248,803
Current Officers, Directors, Trustees, and Key Employees$100,733$39,515$16,390$156,638
Depreciation Depletion$114,177$13,001-$127,178
Office Expenses$94,434$15,618$15,990$126,042
Other Employee Benefits$42,753$30,566$8,802$82,121
Payroll Taxes$48,261$18,932$7,853$75,046
Advertising$63,916$597$1,006$65,519
Other Expenses$48,802$5,390$4,227$48,802
Insurance$31,779$11,686$4,521$47,986
Royalties$47,673--$47,673
Fees for Services Accounting-$45,263-$45,263
All Other Expenses$17,828$18,298$8,427$44,553
Conferences and Meetings$5,578-$5$5,583
Total Functional Expenses$1,878,733$418,379$150,704$2,447,816

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,555,571
Expenses per Audited Statements$2,477,775
Total Expenses per Form 990$2,447,816
Expenses Not Reported on Form 990$77,796
Expenses Not Reported on Financial Statements$-29,959
Other Expense Adjustments$-29,959
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$167,100
Fundraising Direct Expenses$29,959
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$167,100$167,100$9,483$157,617
Total Events$167,100$167,100$29,959$137,141
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$67,500$5,000▼ $62,500
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$65,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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, Page 6, Part VI, Line 11B

Organization's process to review form 990 the form 990 is provided to the organization's board of directors through e-mail and is discussed at a board meeting prior to the return being filed

Form 990, Page 6, Part VI, Line 12C

Enforcement of conflicts policy directors are precluded from voting on matters on which there are conflicts

Form 990, Page 6, Part VI, Line 15A

Compensation process for top officials: artistic director, managing director, and other official's salaries are reviewed by the executive committee and are approved by the board of directors through the annual budget approval process

Form 990, Page 6, Part VI, Line 15B

Compensation process for officers, artistic director, managing director, and other official's salaries are reviewed by the executive committee and are approved by the board of directors through the annual budget approval process

Form 990, Page 6, Part VI, Line 19

Governing documents disclosure explanation the organization makes its governing documents, conflict of interest policy, and financial statements available upon request by providing copies in person, by e-mail, or through postal mail

Filing and Contact Details

Filer

Filer Name
Adventure Theatre Inc
EIN
52-6054621
Phone
3016342270
Address
7300 MACARTHUR BLVD, GLEN ECHO, MD 20812

Signing Officer

Name
Leon Seemann
Title
Managing Director
Phone
3016342270
Signed
2019-01-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael J Bobbitt
Formed
1964
Legal Domicile
Md
Voting Board Members
24
Independent Board Members
24
Employees
106
Volunteers
50

Preparer

Firm
Brooks Harrison Company LLC
Address
2275 RESEARCH BLVD STE 500, ROCKVILLE, MD 20850-6203
Preparer
G Fenner
Phone
3018403883
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Adventure theatre mtc educates and inspires new generations of theater artists and audiences with exceptional theatrical experiences. It is the pre-eminent musical theater academy for youth in the dc region with an integrated and nationally renowned professional theater for family audiences.

Form 990, Part IX, Line 11G

Other fees 277,464 12,000 150

Form 990, Part XI, Line 9

Gala expense reported on pt. Viii ln 8b 29,959 gala expense reported on pt. Viii ln 8b -29,959

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

Gala expense reported on pt. Viii ln 8b -29,959

Schedule D, Page 4, Part XII, Line 4B

Gala expense reported on pt. Viii ln 8b -29,959

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IRS990/Form990PartVIISectionAGrp/PersonNm23MITCHELL HERMAN
IRS990/Form990PartVIISectionAGrp/PersonNm24MICHAEL J BOBBITT
IRS990/Form990PartVIISectionAGrp/PersonNm25LEON SEEMANN
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IRS990/MissionDesc0ADVENTURE THEATRE MTC EDUCATES AND INSPIRES NEW GENERATIONS OF THEATER ARTISTS AND AUDIENCES WITH EXCEPTIONAL THEATRICAL EXPERIENCES. IT IS THE PRE-EMINENT MUSICAL THEATER ACADEMY FOR YOUTH IN THE DC REGION WITH AN INTEGRATED AND NATIONALLY RENOWNED PROFESSIONAL THEATER FOR FAMILY AUDIENCES.
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IRS990/ProgSrvcAccomActy2Grp/Desc0EDUCATIONAL - THE ATMTC ACADEMY OFFERS YEAR ROUND CLASSES FOR MUSICAL THEATRE TRAINING. IT IS A PLACE WHERE YOUNG PEOPLE CAN RECEIVE THE HIGHEST QUALITY MUSICAL THEATRE TRAINING THROUGH CLASSES, CAMPS, STUDENT PRODUCTIONS, WORKSHOPS, AND THE PRE-PROFESSIONAL COMPANY. DURING THE SCHOOL YEAR, THE ACADEMY PROVIDES ELEMENTARY PROGRAM WITH INTRODUCTORY CLASSES FOR STUDENTS IN GRADES K-5. HIGHER LEVEL CONSERVATORY CLASSES FOR STUDENTS GRADES 4-12 PROVIDE MUSICAL THEATER TRAINING HELD TWICE A WEEK. THE PRE- PROFESSIONAL COMPANY SEEKS TO PREPARE TALENTED AND DEDICATED STUDENTS FOR A PROFESSIONAL CAREER IN THEATER. THE ACADEMY ALSO OFFERS SUMMER CAMPS AND SUMMER TRAINING PROGRAMS.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.52$1.12$0.61$1.91$2.18$0.26
2024Detailed filing. Detailed filing data is available for this year.$0.86$1.21$0.34$1.27$2.21$0.95
2023Detailed filing. Detailed filing data is available for this year.$1.79$1.19$0.60$1.15$1.65$0.50
2022Detailed filing. Detailed filing data is available for this year.$2.76$1.66$1.10$2.52$2.47$0.05
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.94$0.89$1.05$2.32$1.66$0.66
2020Detailed filing. Detailed filing data is available for this year.$1.03$0.65$0.39$1.73$2.19$0.47
2019Detailed filing. Detailed filing data is available for this year.$1.16$0.31$0.85$2.70$2.68$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.21$0.38$0.83$2.70$2.45$0.25
2017Detailed filing. Detailed filing data is available for this year.$1.27$0.69$0.58$2.32$2.48$0.16
2016Detailed filing. Detailed filing data is available for this year.$1.27$0.53$0.74$2.38$2.52$0.14
2015Detailed filing. Detailed filing data is available for this year.$1.22$0.34$0.88$2.26$2.44$0.18
2014Detailed filing. Detailed filing data is available for this year.$1.31$0.25$1.07$2.49$2.36$0.13
2013Summary only. Only limited summary data is available for this year.$1.25$0.31$0.94$2.07$2.14$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.38$0.35$1.04$1.79
2011Summary only. Only limited summary data is available for this year.$1.26$0.27$0.98$1.50$1.59$0.09
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.34$0.25$1.09$1.32