Civic Intelligence

Teatro Nuovo Inc.

990 • Fiscal year 2021 • EIN 82-1281535

Nov 01, 2020 to Oct 31, 2021 • Filed on Sep 15, 2022

Organization ProfileWWW.TEATRONUOVO.ORG
820 WEST END AVENUE Room 9ENew York, NY 10025

(212) 967-2305

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.67x

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

2021 filings • NTEE A • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

69th percentile

0.30x

Higher debt load relative to revenue than 69% of similar nonprofits.

2021 filings • NTEE A • $1M-$5M nonprofits • Source year 2021

Net Margin

46th percentile

15%

Higher net margin than 46% of similar nonprofits.

2021 filings • NTEE A • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • NTEE A • $1M-$5M nonprofits • Source year 2021

Asset Growth

99th percentile

601%

Faster asset growth than 99% of similar nonprofits.

2021 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

81st percentile

110%

Faster revenue growth than 81% of similar nonprofits.

2021 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$461,548

Up $395,726 (+601%) from 2020

Net Assets

Up

$152,672

Up $154,559 (+8191%) from 2020

Liabilities

Up

$308,876

Up $241,167 (+356%) from 2020

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin46th percentile

Revenue

Up

$1,012,898

Up $531,238 (+110%) from 2020

Expenses

Up

$857,338

Up $518,534 (+153%) from 2020

Net Income

Up

$155,560

Up $12,704 (+8.9%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$600K$400K$200K$0-$200KAssets 2017: $238,053Liabilities 2017: $224,342Net Assets 2017: $13,7112017Assets 2019: $156,164Liabilities 2019: $300,907Net Assets 2019: -$144,7432019Assets 2020: $65,822Liabilities 2020: $67,709Net Assets 2020: -$1,8872020Assets 2021: $461,548Liabilities 2021: $308,876Net Assets 2021: $152,6722021Assets 2022: $295,786Liabilities 2022: $210,321Net Assets 2022: $85,4652022Assets 2023: $128,125Liabilities 2023: $82,476Net Assets 2023: $45,6492023Assets 2024: $99,607Liabilities 2024: $151,154Net Assets 2024: -$51,5472024

Highlighted filing

2021

Assets$461,548
Liabilities$308,876
Net Assets$152,672
Open 2021 Filing

Operations Trend

Revenue Growth81st percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2017: $136,317Expenses 2017: $122,606Net Income 2017: $13,7112017Revenue 2019: $1,143,877Expenses 2019: $1,265,343Net Income 2019: -$121,4662019Revenue 2020: $481,660Expenses 2020: $338,804Net Income 2020: $142,8562020Revenue 2021: $1,012,898Expenses 2021: $857,338Net Income 2021: $155,5602021Revenue 2022: $1,213,049Expenses 2022: $1,280,254Net Income 2022: -$67,2052022Revenue 2023: $1,066,265Expenses 2023: $1,106,900Net Income 2023: -$40,6352023Revenue 2024: $1,305,072Expenses 2024: $1,402,268Net Income 2024: -$97,1962024

Highlighted filing

2021

Revenue$1,012,898
Expenses$857,338
Net Income$155,560
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2020 to Oct 31, 2021
Signed
Sep 15, 2022
Return Version
2020v4.2
Gross Receipts
$1,012,898
Mission and Program Overview

Mission

Teatro nuovo is a new organization formed to bring cutting edge interpretations of classic italian operas. The intent is to offer exciting revivals of neglected bel canto masterworks along freshly re-studied familar operas. To offer virtuso signing -at the higest levels and to train young musicians in the special skills in this repertory art form.

Teatro nuovo is a new organization formed to bring cutting edge interpretations of classic italian operas. The intent is to offer exciting revivals, to offer virtuso signing and to train young musicians in this art form.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$59,185$454,179▲ $394,994
Land, Buildings, and Equipment, Net-$7,369-
Accounts Receivable$6,637--
Total Assets$65,822$461,548▲ $395,726
Liabilities
Other Liabilities$37,500$278,515▲ $241,015
Accounts Payable and Accrued Expenses$31,210$30,361▼ $849
Total Liabilities$68,710$308,876▲ $240,166
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-2,888$152,672▲ $155,560
Total Net Assets Fund Balance$-2,888$152,672▲ $155,560
Total Liabilities and Net Assets / Fund Balance$65,822$461,548▲ $395,726

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,369$776$8,145
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
William CrutchfieldAssoc Director
Carol GoldBoard Member
Douglas BarnertBoard Member
Ellen RobinsonBoard Member
Patricia FalkebergBoard Member
Patricia KlingensteinBoard Member
Terry GrantBoard Member
Phillip PierceExec Director
Seth DavisPres of Board
Ravi RajanSecty of Board
Revenue and Support

Revenue Composition

Contributions and Grants
$908,048
Program Service Revenue
$67,307
Investment Income
$43
Other Revenue
$37,500
All Other Contributions
$908,048
Change in Net Assets
$155,560

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,012,898
Total Revenue per Audited Statements
$1,012,898
Total Revenue per Form 990
$1,012,898
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$635,629
Salaries, Compensation, and Employee Benefits$221,709
Total Fundraising Expense$13,449
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$66,513$151,286$3,910$221,709
Advertising$39,156--$39,156
Occupancy$11,434$9,148$2,287$22,869
Fees for Services Other$5,280$8,296$1,509$15,085
Fees for Services Accounting$3,000$12,000-$15,000
Interest$4,531$5,087-$9,618
Office Expenses$856$4,864$765$6,485
Information Technology$1,249$4,372$625$6,246
Other Expenses$516,817-$4,353$4,353
Total Functional Expenses$648,836$195,053$13,449$857,338

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$857,338
Total Expenses per Audited Statements$857,338
Total Expenses per Form 990$857,338
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$278,515
Ppp Loan-
Ppp Loan 2-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
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

“Both the financial statement and the 990 are reviewed in detail before any documents are filed. The review generally requires some changes to the forms before they are filed. These changes are designed to approiately reflect the operations of the organization and the impact of covid and other issues.”

Filing and Contact Details

Filer

Filer Name
Teatro Nuovo Inc
EIN
82-1281535
Address
820 WEST END AVENUE Room 9E, NEW YORK, NY 10025

Signing Officer

Name
Phillip Pierce
Title
Exec Director
Signed
2022-09-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Crutchfiled
Formed
2017
Legal Domicile
Ny
Voting Board Members
11
Independent Board Members
11
Employees
50

Preparer

Firm
Donald R Valane CPA Pc
Address
1652 FALMOUTH AVENUE, NEW HYDE PARK, NY 11040
Preparer
Donald R Valane
Phone
2129672305
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ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$461,548
Liabilities
$308,876
Net assets
$152,672
Revenue
$1,012,898
Expenses
$857,338
Net income
$155,560
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.10$0.15$0.05$1.31$1.40$0.10
2023Detailed filing. Detailed filing data is available for this year.$0.13$0.08$0.05$1.07$1.11$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.30$0.21$0.09$1.21$1.28$0.07
2021Detailed filing. Detailed filing data is available for this year.$0.46$0.31$0.15$1.01$0.86$0.16
2020Detailed filing. Detailed filing data is available for this year.$0.07$0.07$0.00$0.48$0.34$0.14
2019Detailed filing. Detailed filing data is available for this year.$0.16$0.30$0.14$1.14$1.27$0.12
2017Detailed filing. Detailed filing data is available for this year.$0.24$0.22$0.01$0.14$0.12$0.01