Overview
What is Rialto Theatre Foundation?
The Rialto Theatre Foundation, established in 2004, is a not-for-profit organization based in Tucson, Arizona. Situated at PO Box 1728, this organization is dedicated to preserving and maintaining the historic Rialto Theatre, a distinctive entertainment venue and a significant landmark in downtown Tucson. The foundation operates by primarily generating revenue through ticket sales and concessions from over 400 shows annually. The profits, following expenditures, are employed to enhance and upgrade the building. The Rialto Theatre Foundation offers a diverse range of high-quality performing arts, catering to the dynamic and diverse community it serves, making it an integral part of the city's cultural landscape.
Official website here: www.rialtotheatre.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Rialto Theatre Foundation has received a two-star rating from Charity Navigator, indicating that there are significant areas for improvement. With an overall score of 73%, the organization demonstrates strengths in board independence and financial management, but falls short in transparency and accountability measures. The majority of the board members are independent, which contributes positively to governance.
Despite a high program expense ratio of 91.07%, suggesting that most of its resources are directed towards programs rather than administrative costs, the foundation lacks critical policies and documentation. Notably, the absence of a whistleblower policy and a document retention policy points to potential vulnerabilities in governance practices. Furthermore, the financial statements are not provided, which hinders full transparency for stakeholders.
While the Rialto Theatre Foundation has a solid framework in terms of independent oversight and a low liability to asset ratio, the missing documentation and policies are a cause for concern. Addressing these gaps could enhance their overall effectiveness and credibility in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Rialto Theatre Foundation legitimate?
Rialto Theatre Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rialto Theatre Foundation 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: $49,038
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,125,892
For more financial information, click here
Official website here: www.rialtotheatre.com
What is the mission statement of Rialto Theatre Foundation?
The Rialto Theatre Foundation's mission is centered around the renovation and operation of a certified historic theatre in a downtown area. This non-profit organization is dedicated to preserving the unique entertainment venue, which serves as a significant landmark in its community. The theatre offers a diverse range of high-quality performing arts events, reflecting the community's vibrancy and diversity. The foundation primarily funds its activities through ticket sales and concessions, utilizing the profits to maintain and improve the building.
Official website here: www.rialtotheatre.com
Who is the CEO of Rialto Theatre Foundation?
Kip Volpe is the Board Member of Rialto Theatre Foundation.
Official website here: www.rialtotheatre.com
What is the revenue of Rialto Theatre Foundation?
Rialto Theatre Foundation's revenue in 2022 was $7,645,173.
Official website here: www.rialtotheatre.com
Who are the executives of Rialto Theatre Foundation and what are their salaries?
The average compensation at Rialto Theatre Foundation during 2022 was $11,749. There are 100 employees at Rialto Theatre Foundation.
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Official website here: www.rialtotheatre.com
Where can I find the form 990 for Rialto Theatre Foundation?
Rialto Theatre Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.rialtotheatre.com
Learn more at the official website: www.rialtotheatre.com
Mission Statement of Rialto Theatre Foundation
The Rialto Theatre Foundation, a not-for-profit corporation established in 2004, is committed to the stewardship and preservation of a historic theatre in downtown Tucson, Arizona. This unique entertainment venue, a cherished symbol of the vibrant community it serves, offers a diverse range of high-quality performing arts shows. The organization's primary source of funding is through ticket sales and concessions from over 400 shows held annually. Any profits generated after covering expenses are utilized to maintain the building and make necessary improvements. In essence, the Rialto Theatre Foundation is dedicated to ensuring the longevity and enhancement of this certified historic theatre, providing the community with a rich cultural experience.
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Impact
October, 2024
The Rialto Theatre Foundation has a significant impact on the cultural landscape of downtown Tucson, Arizona, through the renovation and operation of the historic Rialto Theatre. This iconic venue serves as a cornerstone for the community, providing a unique entertainment experience that highlights a diverse array of high-quality performing arts. With more than 400 shows annually, the theatre not only attracts a wide range of audiences but also fosters a vibrant cultural scene that reflects the interests and identities of the local community.
The foundation dedicatedly maintains and enhances the historic structure, ensuring it remains a vital part of downtown Tucson. By generating revenue through ticket sales and concessions, the Rialto Theatre Foundation reinvests profits back into the venue, allowing for ongoing improvements that keep it both functional and appealing. This commitment to stewardship not only preserves a significant piece of local history but also supports the artistic community by providing a stage for various performers, further enriching the area's cultural offerings. The theatre thus plays a crucial role in bringing people together, celebrating creativity, and bolstering the local economy through arts and entertainment.
This information is meant to be a general summary of Rialto Theatre Foundation. 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: $2,724
- Program Service Revenue: $4,257,301
- Gross Receipts: $8,039,145
Assets and Liabilities:
- Total Assets: $5,053,009
- Total Liabilities: $1,970,314
- Net Assets: $3,082,695
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONCERTS & SHOWS
Revenue
$4,255,651
MEMBERSHIP
Revenue
$1,650
Organization Details
Founding Year
2004
Phone
(520) 740-1000Principal Officer
Kip Volpe
Main Address
PO BOX 1728, TUCSON, AZ, 85702
Website
www.rialtotheatre.comNTEE Category
Code: A65 - Arts
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