Civic Intelligence

Phoenix Theatre Building Corporation

990 • Fiscal year 2020 • EIN 82-4981884

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 28, 2021

Organization ProfileN/A
705 N Illinois StreetIndianapolis, IN 46204

(317) 543-3500

Siviq Scores

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

Liabilities / Assets

74th percentile

0.90x

Higher debt load relative to assets than 74% of similar nonprofits.

2020 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

88th percentile

48.44x

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

2020 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2020

Net Margin

16th percentile

-136%

Higher net margin than 16% of similar nonprofits.

2020 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

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

2020 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2020

Asset Growth

39th percentile

-2.5%

Faster asset growth than 39% of similar nonprofits.

2020 filings • 501(c)2 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

43rd percentile

-0.3%

Faster revenue growth than 43% of similar nonprofits.

2020 filings • 501(c)2 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets74th percentile

Assets

Down

$10,742,492

Down $272,665 (-2.5%) from 2019

Net Assets

Down

$1,042,492

Down $271,677 (-21%) from 2019

Liabilities

Down

$9,700,000

Down $988 (-0.0%) from 2019

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin16th percentile

Revenue

Down

$200,246

Down $528 (-0.3%) from 2019

Expenses

Down

$471,923

Down $64,127 (-12%) from 2019

Net Income

Up

-$271,677

Up $63,599 (+19%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

$15M$10M$5.0M$0Assets 2018: $11,964,523Liabilities 2018: $10,320,553Net Assets 2018: $1,643,9702018Assets 2019: $11,015,157Liabilities 2019: $9,700,988Net Assets 2019: $1,314,1692019Assets 2020: $10,742,492Liabilities 2020: $9,700,000Net Assets 2020: $1,042,4922020Assets 2021: $10,438,510Liabilities 2021: $9,700,000Net Assets 2021: $738,5102021Assets 2022: $10,071,425Liabilities 2022: $9,700,000Net Assets 2022: $371,4252022Assets 2023: $9,822,430Liabilities 2023: $9,700,000Net Assets 2023: $122,4302023Assets 2024: $9,352,980Liabilities 2024: $3,210,000Net Assets 2024: $6,142,9802024

Highlighted filing

2020

Assets$10,742,492
Liabilities$9,700,000
Net Assets$1,042,492
Open 2020 Filing

Operations Trend

Revenue Growth43rd percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2018: $1,977,281Expenses 2018: $333,484Net Income 2018: $1,643,7972018Revenue 2019: $200,774Expenses 2019: $536,050Net Income 2019: -$335,2762019Revenue 2020: $200,246Expenses 2020: $471,923Net Income 2020: -$271,6772020Revenue 2021: $200,074Expenses 2021: $504,056Net Income 2021: -$303,9822021Revenue 2022: $200,027Expenses 2022: $567,112Net Income 2022: -$367,0852022Revenue 2023: $200,022Expenses 2023: $449,017Net Income 2023: -$248,9952023Revenue 2024: $6,540,000Expenses 2024: $519,450Net Income 2024: $6,020,5502024

Highlighted filing

2020

Revenue$200,246
Expenses$471,923
Net Income-$271,677
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 28, 2021
Return Version
2020v4.0
Gross Receipts
$200,246
Mission and Program Overview

Mission

To hold title to and manage real & personal property for the benefit of phoenix theatre inc, indianapolis, in; to distribute net income in excess of expenses and debt service to phoenix theatre inc, and assist phoenix theatre inc in promoting economic growth of marion county, indiana.

To hold title to and manage real & personal property for the benefit of phoenix theatre inc., indianapolis in; to distribute net income in excess of expenses and debt service to phoenix theatre inc., and assist phoenix thetre inc. In promoting economic growth of marion county, indiana.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,271,986$10,032,461▼ $239,525
Intangible Assets$352,475$333,124▼ $19,351
Prepaid Expenses and Deferred Charges$75,000$75,000→ $0
Cash and Non-Interest-Bearing Accounts-$60,965-
Accounts Receivable$15,000$15,000→ $0
Total Assets$11,015,157$10,742,492▼ $272,665
Other Assets Total$300,696$225,942▼ $74,754
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,700,000$9,700,000→ $0
Accounts Payable and Accrued Expenses$988--
Total Liabilities$9,700,988$9,700,000▼ $988
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,314,169$1,042,492▼ $271,677
Total Net Assets Fund Balance$1,314,169$1,042,492▼ $271,677
Total Liabilities and Net Assets / Fund Balance$11,015,157$10,742,492▼ $272,665

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$8,172,461$628,753$8,801,214
Land$1,860,000-$1,860,000
Compensation and Service Providers
Top Officer Pay32nd percentile

Board Members and Trustees

NameTitle
James ShookPresident/tr
Jim KincannonDirector
Mark GastineauDirector
Michael FlintDirector
Steve HamiltonDirector
Frank HoffmanSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$200,000
Investment Income
$246
Other Revenue
$0
Change in Net Assets
$-271,677

Audited Revenue Reconciliation

Revenue per Audited Statements
$200,246
Total Revenue per Audited Statements
$200,246
Total Revenue per Form 990
$200,246
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$471,923
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$258,876
Interest---$97,000
Fees for Services Other---$75,000
Fees for Services Legal---$32,527
Fees for Services Accounting---$8,250
Other Expenses---$270
Total Functional Expenses$0$0$0$471,923

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$471,923
Total Expenses per Audited Statements$471,923
Total Expenses per Form 990$471,923
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

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

“990 is reviewed by a director, the president, and counsel prior to filing.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Phoenix Theatre Building
EIN
82-4981884
Phone
3175433500
Address
705 N ILLINOIS STREET, INDIANAPOLIS, IN 46204

Signing Officer

Name
James Shook
Title
President/treasurer
Phone
2197811332
Signed
2021-10-28

Organization Details

Principal Officer
James Shook
Formed
2018
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Cox Beckman Goss & Company
Address
6612 E 75TH STREET SUITE 300, INDIANAPOLIS, IN 46250
Preparer
David R Goss CPA
Phone
3175450845
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To hold title to and manage real & personal property for the benefit of phoenix theatre inc., indianapolis in; to distribute net income in excess of expenses and debt service to phoenix theatre inc., and assist phoenix thetre inc. In promoting economic growth of marion county, indiana.”

Form 990, Part IX, Line 11G

“Asset management fee 75,000 0 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is subject to audit by federal, state or local authorities in the areas of income taxes. Along with a federal tax filing, the organization files in the state of indiana. The organization's federal and state income tax returns for 2018 through 2020 are subject to examination by the applicable tax authorities, generally for three years after the later of the original or extended due date. These audits could include questioning the organization's tax-exempt status and compliance with federal, state, and local tax laws. Management is not aware of any tax positions that are more likely than not to change in the next twelve months or that would not sustain an examination by applicable taxing authorities. Therefore, there is no effect recorded in these financial statements for assets or liabilities resulting from unrecognized tax benefits. The organization's policy is to recognize penalties and interest as incurred in the statement of activities and net assets, which totaled 0 for the year ended december 31, 2020.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS SUBJECT TO AUDIT BY FEDERAL, STATE OR LOCAL AUTHORITIES IN THE AREAS OF INCOME TAXES. ALONG WITH A FEDERAL TAX FILING, THE ORGANIZATION FILES IN THE STATE OF INDIANA. THE ORGANIZATION'S FEDERAL AND STATE INCOME TAX RETURNS FOR 2018 THROUGH 2020 ARE SUBJECT TO EXAMINATION BY THE APPLICABLE TAX AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE. THESE AUDITS COULD INCLUDE QUESTIONING THE ORGANIZATION'S TAX-EXEMPT STATUS AND COMPLIANCE WITH FEDERAL, STATE, AND LOCAL TAX LAWS. MANAGEMENT IS NOT AWARE OF ANY TAX POSITIONS THAT ARE MORE LIKELY THAN NOT TO CHANGE IN THE NEXT TWELVE MONTHS OR THAT WOULD NOT SUSTAIN AN EXAMINATION BY APPLICABLE TAXING AUTHORITIES. THEREFORE, THERE IS NO EFFECT RECORDED IN THESE FINANCIAL STATEMENTS FOR ASSETS OR LIABILITIES RESULTING FROM UNRECOGNIZED TAX BENEFITS. THE ORGANIZATION'S POLICY IS TO RECOGNIZE PENALTIES AND INTEREST AS INCURRED IN THE STATEMENT OF ACTIVITIES AND NET ASSETS, WHICH TOTALED 0 FOR THE YEAR ENDED DECEMBER 31, 2020.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1990 IS REVIEWED BY A DIRECTOR, THE PRESIDENT, AND COUNSEL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ASSET MANAGEMENT FEE 75,000 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990/TotalProgramServiceRevenueAmt0200000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0200246
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0200246
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011015157
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010742492
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0705 N ILLINOIS STREET
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046204
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES SHOOK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02197811332
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PHOENIX THEATRE BUILDING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0PHOE
ReturnHeader/Filer/EIN0824981884
ReturnHeader/Filer/PhoneNum03175433500
ReturnHeader/Filer/USAddress/AddressLine1Txt0705 N ILLINOIS STREET
ReturnHeader/Filer/USAddress/CityNm0INDIANAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046204
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COX BECKMAN GOSS & COMPANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06612 E 75TH STREET SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046250
ReturnHeader/PreparerPersonGrp/PhoneNum03175450845
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID R GOSS CPA
ReturnHeader/ReturnTs02021-11-15T11:14:18-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JIM
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SHOOK
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,742,492
Liabilities
$9,700,000
Net assets
$1,042,492
Revenue
$200,246
Expenses
$471,923
Net income
-$271,677
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.35$3.21$6.14$6.54$0.52$6.02
2023Detailed filing. Detailed filing data is available for this year.$9.82$9.70$0.12$0.20$0.45$0.25
2022Detailed filing. Detailed filing data is available for this year.$10.1$9.70$0.37$0.20$0.57$0.37
2021Detailed filing. Detailed filing data is available for this year.$10.4$9.70$0.74$0.20$0.50$0.30
2020Detailed filing. Detailed filing data is available for this year.$10.7$9.70$1.04$0.20$0.47$0.27
2019Detailed filing. Detailed filing data is available for this year.$11.0$9.70$1.31$0.20$0.54$0.34
2018Summary only. Only limited summary data is available for this year.$12.0$10.3$1.64$1.98$0.33$1.64