Overview
What is New Bedford Festival Theatre Inc?
New Bedford Festival Theatre Inc is a nonprofit organization situated in New Bedford, Massachusetts. Their primary mission is to deliver top-notch musical theater productions, showcasing local talent and professional artists. They are committed to enhancing cultural experiences primarily for residents in the Southcoast region of Massachusetts. During their 2022 season, they offered internships and apprenticeships for students in the performing arts, and collaborated with professional theater artists. Unfortunately, theatre sales were impacted negatively. New Bedford Festival Theatre Inc is a vital cultural resource in the community, striving to enrich the local area.
Official website here: www.nbfestivaltheatre.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 69%)
New Bedford Festival Theatre Inc has received a Two-Star rating from Charity Navigator, indicating a need for improvement in its operational practices and financial transparency. The organization boasts a high level of independent board members, with 100% of its board consisting of independent members, which reflects strong governance oversight. Additionally, it maintains a commendable program expense ratio of 87.30%, indicating that the majority of its funds are directed towards its programs rather than administrative costs.
However, there are significant areas where the organization falls short. Notably, it lacks essential policies such as a conflict of interest policy, whistleblower policy, and document retention and destruction policy. This absence of key governance documents suggests a potential risk for the organization. Furthermore, financial statements are not made available, which severely impacts the transparency of the organization's financial health and accountability.
While the organization has a commendable liabilities to assets ratio of 1.23%, indicating financial stability, the overall lack of transparency and missing governance policies highlight areas for necessary improvement. Addressing these shortcomings could enhance its accountability and overall effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is New Bedford Festival Theatre Inc legitimate?
New Bedford Festival Theatre Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Bedford Festival Theatre Inc 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.
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Official website here: www.nbfestivaltheatre.com
What is the mission statement of New Bedford Festival Theatre Inc?
The New Bedford Festival Theatre's mission is centered around producing high-quality musical theater performances. They aim to engage local talent and theatrical artists, utilizing top-notch production techniques. The primary objective of the theater is to enrich its community and region culturally. The theatre provides opportunities for students in the performing arts through internships and apprenticeships, while also contracting with professional theater artists. As a result, the theatre offers enriching cultural experiences primarily to audiences from cities and towns in the Southcoast region of Massachusetts. However, the theatre industry has been significantly impacted by ongoing challenges.
Official website here: www.nbfestivaltheatre.com
Who is the CEO of New Bedford Festival Theatre Inc?
John Burke Iii is the President of New Bedford Festival Theatre Inc.
Official website here: www.nbfestivaltheatre.com
What is the revenue of New Bedford Festival Theatre Inc?
New Bedford Festival Theatre Inc's revenue in 2022 was $514,980.
Official website here: www.nbfestivaltheatre.com
Who are the executives of New Bedford Festival Theatre Inc and what are their salaries?
Here are 12 key members and their salaries:
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Official website here: www.nbfestivaltheatre.com
Where can I find the form 990 for New Bedford Festival Theatre Inc?
New Bedford Festival Theatre Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nbfestivaltheatre.com
Learn more at the official website: www.nbfestivaltheatre.com
Mission Statement of New Bedford Festival Theatre Inc
The New Bedford Festival Theatre is committed to showcasing exceptional musical theater productions, employing top-notch production techniques and local talent to enrich the artistic landscape. This cultural institution aims to contribute to the community and its surrounding region by offering engaging performances and enriching cultural experiences for audiences primarily from cities and towns in Massachusetts' Southcoast region. The Theatre also supports the development of young performers, offering internships and apprenticeships to students in the performing arts, and collaborating with professional theater artists. Despite the challenges posed by the ongoing pandemic, the Theatre continues to strive to bring high-quality musical theater to its audience.
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Impact
July, 2024
New Bedford Festival Theatre Inc has a significant impact on the local community and region by providing high-quality musical theater performances that enrich the cultural experiences of audiences in the Southcoast region of Massachusetts. Through its dedication to producing the best of musical theater and engaging the best local talent and theatrical artists, the theater has become a valuable cultural resource in New Bedford. Additionally, by offering internships and apprenticeships for students in the performing arts and contracting with professional theater artists, the theater is contributing to the growth and development of talent in the arts industry. Despite challenges with theater sales, New Bedford Festival Theatre Inc continues to play a vital role in enhancing the artistic landscape of the region.
This information is meant to be a general summary of New Bedford Festival Theatre Inc. 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 2022.
- Investment Income: $155
- Program Service Revenue: $134,476
- Gross Receipts: $529,067
Assets and Liabilities:
- Total Assets: $218,548
- Total Liabilities: $2,704
- Net Assets: $215,844
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Musical ticket sales
Revenue
$127,546
Lobby sales revenue
Revenue
$690
Theatre classes
Revenue
$450
Program ad revenue
Revenue
$5,790
Organization Details
Founding Year
1990
Principal Officer
John Burke Iii
Main Address
PO Box 4095, New Bedford, MA, 02741
Website
www.nbfestivaltheatre.comNTEE Category
Code: A650 - Arts
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