Overview
What is Theater Wit Nfp?
Theater Wit Nfp is a nonprofit organization situated in Chicago, Illinois, specifically at 1229 W Belmont Ave. Their primary mission is to offer affordable and well-equipped theatrical spaces to various non-profit organizations and community groups in the area, ensuring at least one live performance annually. The organization, with a team of 50 employees, is committed to producing entertaining and educational live shows, showcasing both innovative new plays and classic works. Theater Wit values wisdom and wit, aiming to engage its audience through thought-provoking performances.
Official website here: www.theaterwit.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Theater Wit Nfp has received a two-star rating from Charity Navigator, indicating that while the organization excels in accountability and finance, there are significant areas of concern. The nonprofit scored 100% in several categories, such as having an independent board and maintaining financial oversight. However, their overall score of 69% suggests that some governance practices could use enhancement, particularly in developing key policies.
Strengths of Theater Wit include a strong program expense ratio of 82.71%, demonstrating a commitment to directing funds towards programs rather than administrative costs. The board's composition appears robust, with full marks for independence and size, suggesting a well-structured governance model. However, the lack of essential policies, including conflict of interest, whistleblower protections, and document retention, raises questions about the organization's operational transparency and risk management.
Additionally, the organization's liabilities to assets ratio is a concern, with a high figure of 89.64%, indicating potential financial instability. The absence of publicly accessible financial documents on their website could hinder transparency and public trust. Overall, while Theater Wit shows promise in financial management, addressing governance gaps will be crucial for improving their rating and fostering greater community confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Theater Wit Nfp legitimate?
Theater Wit Nfp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Theater Wit Nfp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $87,754
Professional Fundraising Fees: $0
Other Salaries and Wages: $351,716
For more financial information, click here
Official website here: www.theaterwit.com
What is the mission statement of Theater Wit Nfp?
Theater Wit NFP is committed to producing live shows that aim to both entertain and educate the public. Their mission is to present groundbreaking new plays and classic works, engaging the audience with wit and wisdom through humor. Theater Wit dedicates itself to producing shows that are both intelligent and amusing, thereby contributing to the cultural landscape with thought-provoking performances. They provide affordable and well-equipped theatrical spaces for non-profit organizations and community groups in the Chicago area, hosting at least one performance annually.
Official website here: www.theaterwit.com
What is the revenue of Theater Wit Nfp?
Theater Wit Nfp's revenue in 2023 was $927,145.
Official website here: www.theaterwit.com
Who are the executives of Theater Wit Nfp and what are their salaries?
The average compensation at Theater Wit Nfp during 2023 was $3,889. There are 113 employees at Theater Wit Nfp.
Here are 8 key members and their salaries:
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- Compensation: $43,877
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- Compensation: $43,877
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Official website here: www.theaterwit.com
Where can I find the form 990 for Theater Wit Nfp?
Theater Wit Nfp's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.theaterwit.com
Learn more at the official website: www.theaterwit.com
Mission Statement of Theater Wit Nfp
Theater Wit Nfp is dedicated to producing live shows that aim to entertain and educate the public. Their mission is twofold: they produce groundbreaking new plays that challenge the audience's perspectives, and they also perform classic works to engage the audience with wit and wisdom. Through their productions, Theater Wit Nfp seeks to provide an affordable and well-equipped theatrical space for non-profit organizations and community groups in the Chicago area, hosting at least one performance each year. Their shows are not just for entertainment; they strive to spark thoughtful conversations and inspire their audience.
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Impact
July, 2024
Theater Wit in Chicago, IL, is dedicated to producing live shows that entertain and educate the public. Through their performances, they aim to engage audiences with a mix of humor and intelligence, showcasing both groundbreaking new plays and classic works. In addition to their own productions, Theater Wit provides affordable and well-equipped theatrical spaces for non-profit organizations and community groups, further enhancing the cultural landscape of the Chicago area. With a commitment to wit and wisdom, Theater Wit contributes to the enrichment of the arts scene and offers a platform for creativity and artistic expression.
This information is meant to be a general summary of Theater Wit Nfp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $4
- Program Service Revenue: $475,705
- Gross Receipts: $927,145
Assets and Liabilities:
- Total Assets: $572,470
- Total Liabilities: $513,214
- Net Assets: $59,256
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENU
Revenue
$252,352
RENTAL INCOME
Revenue
$223,353
Organization Details
Founding Year
2003
Principal Officer
Kathy Stieber
Website
www.theaterwit.comNTEE Category
Code: A65 - Arts
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