Civic Intelligence

Watertower Theatre Inc.

990 • Fiscal year 2014 • EIN 75-1559945

Oct 01, 2013 to Sep 30, 2014 • Filed on Jan 14, 2015

Organization ProfileWWW.WATERTOWERTHEATRE.ORG
15650 Addison Road75001

(972) 450-6230

Siviq Scores

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

Liabilities / Assets

88th percentile

0.83x

Higher debt load relative to assets than 88% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

61st percentile

0.20x

Higher debt load relative to revenue than 61% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

42nd percentile

0.5%

Higher net margin than 42% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

66th percentile

$92,610

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 6.2% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

75th percentile

13%

Faster asset growth than 75% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

54th percentile

5.5%

Faster revenue growth than 54% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2014

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$353,233

Up $39,525 (+13%) from 2013

Net Assets

Up

$59,125

Up $6,853 (+13%) from 2013

Liabilities

Up

$294,108

Up $32,672 (+12%) from 2013

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin42nd percentile

Revenue

$1,489,158

No earlier filing loaded for comparison.

Expenses

Up

$1,482,305

Up $159,808 (+12%) from 2013

Net Income

$6,853

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth75th percentile

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

$600K$400K$200K$0-$200KAssets 2011: $302,895Liabilities 2011: $244,350Net Assets 2011: $58,5452011Assets 2012: $357,178Liabilities 2012: $253,848Net Assets 2012: $103,3302012Assets 2013: $313,708Liabilities 2013: $261,436Net Assets 2013: $52,2722013Assets 2014: $353,233Liabilities 2014: $294,108Net Assets 2014: $59,1252014Assets 2015: $447,725Liabilities 2015: $405,649Net Assets 2015: $42,0762015Assets 2016: $428,235Liabilities 2016: $375,893Net Assets 2016: $52,3422016Assets 2017: $444,435Liabilities 2017: $457,852Net Assets 2017: -$13,4172017Assets 2018: $449,475Liabilities 2018: $437,817Net Assets 2018: $11,6582018Assets 2019: $240,582Liabilities 2019: $314,028Net Assets 2019: -$73,4462019Assets 2020: $294,367Liabilities 2020: $289,925Net Assets 2020: $4,4422020Assets 2021: $277,207Liabilities 2021: $155,819Net Assets 2021: $121,3882021Assets 2022: $175,023Liabilities 2022: $201,355Net Assets 2022: -$26,3322022Assets 2023: $248,534Liabilities 2023: $127,159Net Assets 2023: $121,3752023Assets 2024: $87,302Liabilities 2024: $195,216Net Assets 2024: -$107,9142024

Highlighted filing

2014

Assets$353,233
Liabilities$294,108
Net Assets$59,125
Open 2014 Filing

Operations Trend

Revenue Growth54th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2011: $1,218,704Expenses 2011: $1,194,204Net Income 2011: $24,5002011Revenue 2012: $1,338,898Expenses 2012: $1,294,113Net Income 2012: $44,7852012Expenses 2013: $1,322,4972013Revenue 2014: $1,489,158Expenses 2014: $1,482,305Net Income 2014: $6,8532014Revenue 2015: $1,575,922Expenses 2015: $1,592,971Net Income 2015: -$17,0492015Revenue 2016: $1,618,107Expenses 2016: $1,612,338Net Income 2016: $5,7692016Revenue 2017: $1,396,820Expenses 2017: $1,462,120Net Income 2017: -$65,3002017Revenue 2018: $1,538,572Expenses 2018: $1,514,291Net Income 2018: $24,2812018Revenue 2019: $1,078,355Expenses 2019: $1,163,457Net Income 2019: -$85,1022019Revenue 2020: $994,722Expenses 2020: $916,834Net Income 2020: $77,8882020Revenue 2021: $856,295Expenses 2021: $739,349Net Income 2021: $116,9462021Revenue 2022: $749,399Expenses 2022: $820,038Net Income 2022: -$70,6392022Revenue 2023: $1,220,056Expenses 2023: $1,120,761Net Income 2023: $99,2952023Revenue 2024: $880,393Expenses 2024: $1,098,490Net Income 2024: -$218,0972024

Highlighted filing

2014

Revenue$1,489,158
Expenses$1,482,305
Net Income$6,853
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2013 to Sep 30, 2014
Signed
Jan 14, 2015
Return Version
2013v4.0
Gross Receipts
$1,574,857
Mission and Program Overview

Mission

Watertower theatre's mission is to open minds with a diverse mix of plays and educational programs that inspire people to experience and embrace live theatre.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$100,152$124,124▲ $23,972
Prepaid Expenses and Deferred Charges$103,190$120,062▲ $16,872
Accounts Receivable$40,453$35,490▼ $4,963
Land, Buildings, and Equipment, Net$7,450$7,568▲ $118
Total Assets$313,708$353,233▲ $39,525
Other Assets Total$62,463$65,989▲ $3,526
Liabilities
Deferred Revenue$232,430$244,140▲ $11,710
Accounts Payable and Accrued Expenses$29,006$49,968▲ $20,962
Total Liabilities$261,436$294,108▲ $32,672
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$50,000-
Unrestricted Net Assets$52,272$9,125▼ $43,147
Total Net Assets Fund Balance$52,272$59,125▲ $6,853
Total Liabilities and Net Assets / Fund Balance$313,708$353,233▲ $39,525

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,568$68,411$75,979
Other Assets Org$54,941--
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Terry MartinExecutive DirectorFT$92,610$92,610

Board Members and Trustees

NameTitle
Derek BlountPresident
Ben CunninghamVice President
April BosworthDirector
Barbara DasekeDirector
Buddy FrazerDirector
Corky PledgerDirector
Debbie StaggsDirector
Jeff LacekyDirector
Laree HulshoffDirector
Margo KeyesDirector
Michael CanterburyDirector
Robert Mayer JrDirector
Rose ColarossiDirector
Roz BenjetDirector
Stan GranerDirector
Wade OwensDirector
Katie MyattSecretary
Jimmy NiemannTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$719,995
Program Service Revenue
$567,456
Investment Income
$240
Other Revenue
$201,467
All Other Contributions
$261,995
Change in Net Assets
$6,853

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,489,158
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,489,158
Total Revenue per Form 990
$1,489,158
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$903,764
Other Expenses$578,541
Total Fundraising Expense$98,180
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$574,731$40,743$50,876$666,350
Advertising$130,981--$130,981
Occupancy$84,501$11,495-$95,996
Other Employee Benefits$77,983$8,333$7,025$93,341
Current Officers, Directors, Trustees, and Key Employees$68,686$23,924-$92,610
Royalties$54,548--$54,548
Payroll Taxes$42,297$5,064$4,102$51,463
All Other Expenses$19,767$14,837$2,418$37,022
Insurance-$27,263-$27,263
Other Expenses$8,677$24,667$24,016$24,667
Travel$6,049$8,596-$14,645
Fees for Services Accounting-$10,790-$10,790
Conferences and Meetings$493$7,319$185$7,997
Information Technology$3,906--$3,906
Depreciation Depletion-$1,625-$1,625
Total Functional Expenses$1,177,528$206,597$98,180$1,482,305

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,482,305
Total Expenses per Audited Statements$1,482,305
Total Expenses per Form 990$1,482,305
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$210,519
Fundraising Direct Expenses$85,699
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$210,519$210,519$85,699$124,820
Total Events$210,519$210,519$85,699$124,820
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“A draft of the form 990 was presented to the board of directors and business manager for review prior to filing. After approval, the board passes a motion to accept the form 990.”

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

“The organization regularly and consistently monitors compliance with the conflict of interest policy.”

Form 990, Part VI, Section B, Line 15

“The board of directors determines the executive/producing artistic director's salary based upon performance and reasonable increases in cost of living. The tcg's salary survey is used as a guide for salary ranges. Other management's salaries are determined by the executive director and are based upon performance and tenure.”

Form 990, Part VI, Section C, Line 19

“The theatre's form 990 is available upon request and on www.guidestar.org. The organizational documents and conflict of interest policy is available upon request to the business manager.”

Filing and Contact Details

Filer

EIN
75-1559945
Phone
9724506230

Signing Officer

Name
Terry Martin
Title
Executive Director
Phone
9724506230
Signed
2015-01-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Terry Martin
Formed
1996
Legal Domicile
TX
Voting Board Members
19
Independent Board Members
19
Employees
68
Volunteers
147

Preparer

Preparer
Shannon G Ray
Phone
9729914566
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Postage & shipping: program service expenses 14,492. Management and general expenses 1,032. Fundraising expenses 2,418. Total expenses 17,942. Telephone: program service expenses 0. Management and general expenses 9,658. Fundraising expenses 0. Total expenses 9,658. Concessions: program service expenses 5,275. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,275. Equip rental: program service expenses 0. Management and general expenses 4,147. Fundraising expenses 0. Total expenses 4,147.”

FORM 990, PART XII, LINE 2C:

“Oversight and selection process has not changed from previous year.”

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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/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
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IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0WATERTOWER THEATRE'S MISSION IS TO OPEN MINDS WITH A DIVERSE MIX OF PLAYS AND EDUCATIONAL PROGRAMS THAT INSPIRE PEOPLE TO EXPERIENCE AND EMBRACE LIVE THEATRE.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
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IRS990/OccupancyGrp/TotalAmt095996
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt08333
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt077983
IRS990/OtherEmployeeBenefitsGrp/TotalAmt093341
IRS990/OtherExpensesGrp/Desc0SUPPLIES
IRS990/OtherExpensesGrp/Desc1PRINTING & PUBLICATIONS
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/Desc3CREDIT CARD & BANK FEES
IRS990/OtherExpensesGrp/FundraisingAmt07311
IRS990/OtherExpensesGrp/FundraisingAmt12247
IRS990/OtherExpensesGrp/FundraisingAmt224016
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt014057
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11426
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt26458
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt324667
IRS990/OtherExpensesGrp/ProgramServicesAmt061346
IRS990/OtherExpensesGrp/ProgramServicesAmt143563
IRS990/OtherExpensesGrp/ProgramServicesAmt28677
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IRS990/OtherExpensesGrp/TotalAmt147236
IRS990/OtherExpensesGrp/TotalAmt239151
IRS990/OtherExpensesGrp/TotalAmt324667
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IRS990/OtherRevenueMiscGrp/Desc0CONCESSIONS, HANDLING,
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0666350
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt04102
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05064
IRS990/PayrollTaxesGrp/ProgramServicesAmt042297
IRS990/PayrollTaxesGrp/TotalAmt051463
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0103190
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0120062
IRS990/PrincipalOfficerNm0TERRY MARTIN
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/Desc1TUITION
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt124520
IRS990/ProgSrvcAccomActy2Grp/Desc0THE THEATRE PROVIDES SEVERAL EDUCATIONAL OPPORTUNITIES TO THE COMMUNITY. A SUMMER CONSERVATORY IMMERSES CHILDREN IN ALL ASPECTS OF THEATRE ARTS FOR TWO WEEKS, AND AN AFTER-SCHOOL PROGRAM OFFERS A UNIQUE WAY FOR STUDENTS TO BE INTRODUCED TO THEATRE. IN ADDITION, AN ACTING CLASS IS OFFERED EACH SEASON TO AREA ACTORS. OTHER EDUCATIONAL OPPORTUNITIES CONSIST OF SUMMER INTERNSHIPS, WHICH EXPOSE YOUNG PROFESSIONALS TO THE DAY-TO-DAY OPERATIONS OF A SMALL PROFESSIONAL THEATRE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt050385
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt024520
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0611150
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0232
IRS990/PYOtherExpensesAmt0517504
IRS990/PYOtherRevenueAmt0155781
IRS990/PYProgramServiceRevenueAmt0504276
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IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/RegularMonitoringEnfrcInd01
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IRS990/RelatedOrganizationCtrlEntInd00
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IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0619583
IRS990/RoyaltiesGrp/ProgramServicesAmt054548
IRS990/RoyaltiesGrp/TotalAmt054548
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0661442
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0628483
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0567132
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IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt03781
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IRS990ScheduleA/PublicSupportTotal170Amt03188202
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03188202
IRS990ScheduleA/TotalSupportAmt03191983
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$353,233
Liabilities
$294,108
Net assets
$59,125
Revenue
$1,489,158
Expenses
$1,482,305
Net income
$6,853
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.09$0.20$0.11$0.88$1.10$0.22
2023Detailed filing. Detailed filing data is available for this year.$0.25$0.13$0.12$1.22$1.12$0.10
2022Detailed filing. Detailed filing data is available for this year.$0.18$0.20$0.03$0.75$0.82$0.07
2021Detailed filing. Detailed filing data is available for this year.$0.28$0.16$0.12$0.86$0.74$0.12
2020Detailed filing. Detailed filing data is available for this year.$0.29$0.29$0.00$0.99$0.92$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.24$0.31$0.07$1.08$1.16$0.09
2018Detailed filing. Detailed filing data is available for this year.$0.45$0.44$0.01$1.54$1.51$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.44$0.46$0.01$1.40$1.46$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.43$0.38$0.05$1.62$1.61$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.45$0.41$0.04$1.58$1.59$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.35$0.29$0.06$1.49$1.48$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.31$0.26$0.05$1.32
2012Summary only. Only limited summary data is available for this year.$0.36$0.25$0.10$1.34$1.29$0.04
2011Summary only. Only limited summary data is available for this year.$0.30$0.24$0.06$1.22$1.19$0.02