Overview
What is Odeum Corporation?
Odeum Corporation is a distinguished nonprofit organization situated in East Greenwich, Rhode Island. Their primary mission is to cultivate and manage a cultural arts center, housing both resident and touring professionals, as well as providing educational programs and showcasing local amateur talent. The center boasts a historically significant 420-seat theater, built in 1926, which hosts a diverse array of entertainment for various age groups, including concerts, comedy shows, theater productions, movies, and community events. The theater underwent a multi-phase rehabilitation project in 2014, primarily funded by local cultural grants, to ensure compliance with ADA and fire codes, repair the failing facade, and improve common areas. Currently in its final phase, the project has significantly contributed to the revitalization of the downtown area, attracting over 15,000 patrons annually, thereby bolstering local businesses such as restaurants. Locally, Odeum Corporation is recognized as a vital anchor on Main Street, East Greenwich.
Official website here: www.greenwichodeum.com
What are the reviews and ratings of this charity?
Charity Navigator Rating 77% - Three-Star out of Four Star rating
Odeum Corporation has achieved a Three-Star rating from Charity Navigator, indicating a solid level of performance primarily in the areas of accountability and finance. The score reflects the organization’s commitment to maintaining a high standard of transparency and governance, with 100% of its board members being independent and a strong performance in managing financial resources efficiently.
Strengths include a notable program expense ratio of 85.22%, demonstrating that a significant portion of its funds is directed towards its programs. Additionally, Odeum Corporation has implemented robust policies regarding conflicts of interest and whistleblowing, which further enhance its governance framework. The organization’s accountability is also underscored by its lack of material diversion of assets and proper documentation of board meeting minutes.
While the overall rating is commendable, it is derived solely from the accountability and finance category, indicating that there may be room for improvement in other aspects such as impact and outcomes. Nonetheless, the organization appears to prioritize fiscal responsibility and ethical governance, making it a reliable option for potential donors who value these principles.
This AI summary has been generated from information found on Charity Navigator.
Is Odeum Corporation legitimate?
Odeum Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Odeum Corporation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $215,359
For more financial information, click here
Official website here: www.greenwichodeum.com
What is the mission statement of Odeum Corporation?
Odeum Corporation's mission is centered around developing and operating a cultural arts center. This center showcases both resident and touring professional artists, as well as local amateur talent. The organization achieves this by maintaining a historically significant theater. The center provides a platform for a diverse range of entertainment, catering to various age groups. This includes concerts, comedy shows, theatrical productions, movies, and community-driven events. In addition, Odeum Corporation offers educational programs in the arts, contributing to the development of artistic skills and appreciation among the community. The organization underwent a multi-phase rehabilitation project in 2014, focusing on ensuring ADA and fire-code compliance, repairing the theater, and enhancing common areas. The theater serves as a significant anchor in its local community, attracting over 15,000 patrons annually, which in turn boosts sales for nearby businesses.
Official website here: www.greenwichodeum.com
Who is the CEO of Odeum Corporation?
Daniel Speca is the President of Odeum Corporation.
Official website here: www.greenwichodeum.com
What is the revenue of Odeum Corporation?
Odeum Corporation's revenue in 2022 was $1,268,397.
Official website here: www.greenwichodeum.com
Who are the executives of Odeum Corporation and what are their salaries?
The average compensation at Odeum Corporation during 2022 was $14,357. There are 15 employees at Odeum Corporation.
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Official website here: www.greenwichodeum.com
Where can I find the form 990 for Odeum Corporation?
Odeum Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.greenwichodeum.com
Learn more at the official website: www.greenwichodeum.com
Mission Statement of Odeum Corporation
Odeum Corporation, a nonprofit organization, is dedicated to the development and operation of a cultural center for the arts. This center serves as a platform for both resident and touring professional artists, as well as local amateur talent. The organization's mission is to maintain a historically significant theater, utilizing it to present a variety of entertainment for all age groups. This includes concerts, comedy shows, theatrical productions, movies, and community-driven events.
By operating a cultural center, Odeum Corporation contributes to the enrichment of the arts community. The organization's theater, built in 1926, has undergone a multi-phase rehabilitation project to ensure compliance with ADA and fire codes. The project also aimed to repair the failing façade and improve the theater's common areas. The organization is currently in the final phase of this project, ensuring the theater remains a vital part of the community.
In addition to its role as a cultural center, Odeum Corporation is seen as an "anchor" in its local area. The theater brings over 15,000 patrons to the downtown area each year, providing a boost in sales to local restaurants and small businesses. The organization plays a significant role in the community, providing a platform for both professional and amateur talent to showcase their skills, and contributing to the cultural landscape of the area.
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Impact
October, 2024
Odeum Corporation has a profound impact on the cultural landscape of East Greenwich, Rhode Island. By developing and operating a cultural center for the arts within a historically significant theater built in 1926, it serves as a cornerstone of the community's artistic expression and engagement. The organization not only features resident and touring professional performances but also emphasizes educational programs in the arts and showcases local amateur talent.
The theater, with a capacity of 420 seats, hosts a diverse array of entertainment options, including concerts, comedy shows, theatrical productions, and film screenings, catering to audiences of all ages. This vibrant programming draws over 15,000 patrons annually, significantly benefiting local businesses by driving foot traffic to restaurants and shops in the downtown area.
The multi-phase rehabilitation project initiated in 2014 has further enhanced the theater's facilities, ensuring compliance with ADA and fire safety standards while revitalizing its aesthetic appeal. This commitment to preservation and improvement underscores Odeum Corporation's role as an "anchor" on Main Street, fostering a sense of community and cultural pride. Through its efforts, Odeum Corporation not only enriches the local arts scene but also contributes to the economic vitality of East Greenwich, making it a vital player in the area's ongoing development.
This information is meant to be a general summary of Odeum Corporation. 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: $229
- Program Service Revenue: $1,085,478
- Gross Receipts: $1,317,909
Assets and Liabilities:
- Total Assets: $2,709,557
- Total Liabilities: $712,178
- Net Assets: $1,997,379
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TICKET SALES
Revenue
$1,013,532
THEATER CAMPS
Revenue
$42,506
PRIVATE SHOW RENTALS
Revenue
$21,715
Organization Details
Founding Year
1991
Phone
(401) 885-4000Principal Officer
Daniel Speca
Main Address
59 MAIN STREET, EAST GREENWICH, RI, 02818
Website
www.greenwichodeum.comNTEE Category
Code: A610 - Arts
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