Civic Intelligence

Theatre Gap Initiative

EIN 86-1460904 • 501(c)3 • Matthews, NC

Profile

The Theatre Gap Initiative (TGI) is a nonprofit college-prep program for high school graduates who aspire to apply for Bachelor of Fine Arts (BFA) and conservatory programs. TGI's programming, launched in 2021, is focused on helping students of color and those who are economically disadvantaged successfully navigate the process of applications, prescreens, and auditions. In addition to theatre-arts instruction, TGI students also receive guidance with college preparation, including access to financial aid and college admissions counselors and classes on stress management, budgeting, time management, and conflict resolution.

3415 Chardmore DriveMatthews, NC 28105

theatregap.org

Siviq Scores

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

Liabilities / Assets

95th percentile

1.77x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Liabilities / Revenue

86th percentile

0.20x

Higher debt load relative to revenue than 86% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Net Margin

34th percentile

-7.0%

Higher net margin than 34% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

68th percentile

9.5%

Faster asset growth than 68% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2025

Revenue Growth

77th percentile

28%

Faster revenue growth than 77% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2025

Assets

Down

$40,375

Down $7,215 (-15%) from 2024

Liabilities

Up

$71,375

Up $18,054 (+34%) from 2024

Net Assets

Down

-$31,000

Down $25,269 (-441%) from 2024

Revenue

Down

$362,664

Down $28,634 (-7.3%) from 2024

Expenses

Up

$387,933

Up $61,202 (+19%) from 2024

Net Income

Down

-$25,269

Down $89,836 (-139%) from 2024

Trend Graphs

Balance Sheet Trend

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

$100K$50K$0-$50KAssets 2023: $33,702Liabilities 2023: $4,000Net Assets 2023: $29,7022023Assets 2024: $47,590Liabilities 2024: $53,321Net Assets 2024: -$5,7312024Assets 2025: $40,375Liabilities 2025: $71,375Net Assets 2025: -$31,0002025

Highlighted filing

2025

Assets$40,375
Liabilities$71,375
Net Assets-$31,000

Operations Trend

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

$400K$200K$0-$200KRevenue 2023: $221,541Expenses 2023: $248,409Net Income 2023: -$26,8682023Revenue 2024: $391,298Expenses 2024: $326,731Net Income 2024: $64,5672024Revenue 2025: $362,664Expenses 2025: $387,933Net Income 2025: -$25,2692025

Highlighted filing

2025

Revenue$362,664
Expenses$387,933
Net Income-$25,269

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Jul 28, 2025
Return Version
2024v5.2
Gross Receipts
$362,664
Mission and Program Overview

Mission

The Theatre Gap Initiative (TGI) is a nonprofit college-prep program for high school graduates who aspire to apply for Bachelor of Fine Arts (BFA) and conservatory programs. TGI's programming, launched in 2021, is focused on helping students of color and those who are economically disadvantaged successfully navigate the process of applications, prescreens, and auditions. In addition to theatre-arts instruction, TGI students also receive guidance with college preparation, including access to financial aid and college admissions counselors and classes on stress management, budgeting, time management, and conflict resolution.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$2,810$28,713▲ $25,903
Cash and Non-Interest-Bearing Accounts$42,930$4,312▼ $38,618
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Rtn Earn Endowment Incm Other Fnds$-5,731$-31,000▼ $25,269
Total Assets$47,590$40,375▼ $7,215
Other Assets Total$1,850$7,350▲ $5,500
Liabilities
Mortgage Notes Payable Secured by Investment Property$35,000$40,000▲ $5,000
Accounts Payable and Accrued Expenses$17,321$31,375▲ $14,054
Unsecured Notes Loans Payable$1,000--
Total Liabilities$53,321$71,375▲ $18,054
Net Assets / Fund Balance
Total Net Assets Fund Balance$-5,731$-31,000▼ $25,269
Total Liabilities and Net Assets / Fund Balance$47,590$40,375▼ $7,215

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$7,350--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$239,287
Program Service Revenue
$123,377
Investment Income
$0
Other Revenue
$0
All Other Contributions
$214,287
Change in Net Assets
$-25,269
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$227,839
Salaries, Compensation, and Employee Benefits$148,395
Professional Fundraising Fees$11,699
Total Fundraising Expense$11,699
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$136,842-$136,842
Travel$56,227--$56,227
All Other Expenses$28,611$2,079-$30,690
Other Expenses$16,455--$16,455
Fees for Services Professional Fundraising--$11,699$11,699
Payroll Taxes-$11,553-$11,553
Office Expenses-$5,979-$5,979
Insurance-$1,024-$1,024
Fees for Services Accounting-$500-$500
Total Functional Expenses$218,257$157,977$11,699$387,933
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$11,699
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
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, Part VI, Section B, Line 11B

No review was or will be conducted.

Form 990, Part VI, Section C, Line 19

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Theatre Gap Initiative
EIN
86-1460904
Phone
7047636086
Address
3415 Chardmore Drive, Matthews, NC 28105

Signing Officer

Name
Corey Mitchell
Title
Founder
Signed
2025-07-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Corey Mitchell
Formed
2022
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
5
Employees
3

Preparer

Firm
Miller Mcneish & Breedlove Pllc
Address
309 S LAUREL AVE, CHARLOTTE, NC 28207
Preparer
Lauren S Nichols
Phone
7043768415
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt01000
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Corey Mitchell
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Founder
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-07-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Theatre Gap Initiative
ReturnHeader/Filer/BusinessNameControlTxt0THEA
ReturnHeader/Filer/EIN0861460904
ReturnHeader/Filer/PhoneNum07047636086
ReturnHeader/Filer/USAddress/AddressLine1Txt03415 Chardmore Drive
ReturnHeader/Filer/USAddress/CityNm0Matthews
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028105
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0832891693
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MILLER MCNEISH & BREEDLOVE PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0309 S LAUREL AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHARLOTTE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028207
ReturnHeader/PreparerPersonGrp/PhoneNum07043768415
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Lauren S Nichols
ReturnHeader/ReturnTs02025-07-28T08:08:05-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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