Overview
What is The Byrd Theatre Foundation?
The Byrd Theatre Foundation is a nonprofit organization based in Richmond, Virginia, with a mission to enhance the cinematic experience, honor the art of film, and preserve the city's renowned movie palace. Despite a temporary closure due to COVID-19, the foundation made significant strides in capacity building. Funds from previous years were utilized to hire an executive director and reopen the theatre, enabling the creation of new revenue streams despite limited capacity. Stringent health protocols were implemented, including modifications to the HVAC system for improved air filtration and sanitization. The hiring of full-time staff also contributed to operational stability, and development activities were brought in-house for the first time. Despite operating at one-third capacity, the foundation has prioritized revenue generation while maintaining safety measures for patrons and staff.
Official website here: www.byrdtheatre.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star Rating)
The Byrd Theatre Foundation has received a Two-Star rating from Charity Navigator, indicating a need for improvement despite achieving a perfect score in accountability and finance metrics. The organization excels in having a fully independent board and demonstrates effective oversight of financial statements, which is a positive aspect of their governance.
However, there are significant limitations, particularly in the areas of policy documentation. The foundation lacks a whistleblower policy and has not provided a document retention and destruction policy, both of which are critical for transparency and accountability. Additionally, while the organization maintains a decent program expense ratio, there is room for growth in their liabilities to assets ratio.
Overall, while The Byrd Theatre Foundation shows strong governance elements, the missing policies highlight areas that could be strengthened to enhance their credibility and operational effectiveness. Stakeholders may want to consider these factors when evaluating the organization's overall performance and impact.
This AI summary has been generated from information found on Charity Navigator.
Is The Byrd Theatre Foundation legitimate?
The Byrd Theatre Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Byrd 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: $77,911
Professional Fundraising Fees: $0
Other Salaries and Wages: $617,196
For more financial information, click here
Official website here: www.byrdtheatre.org
What is the mission statement of The Byrd Theatre Foundation?
The Byrd Theatre Foundation's mission is centered around enhancing the cinematic experience, appreciating the art of film, and preserving a historic motion picture palace in America. Their objective is to elevate the Byrd Theatre's status among American cinemas, serving as a hub for exceptional films and ensuring the broadest public access to these experiences. Despite the closure due to COVID-19, the foundation made significant strides in capacity building, hiring an executive director, reopening with new revenue streams, implementing safety protocols, and employing full-time staff to establish operational stability. Development activities were also brought in-house, allowing the theatre to operate safely at reduced capacity amidst the ongoing COVID-19 variants.
Official website here: www.byrdtheatre.org
What is the revenue of The Byrd Theatre Foundation?
The Byrd Theatre Foundation's revenue in 2024 was $1,982,695.
Official website here: www.byrdtheatre.org
Who are the executives of The Byrd Theatre Foundation and what are their salaries?
The average compensation at The Byrd Theatre Foundation during 2024 was $25,745. There are 27 employees and 20 volunteers at The Byrd Theatre Foundation.
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- Compensation: $68,989
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- Other: $1,376
Official website here: www.byrdtheatre.org
Where can I find the form 990 for The Byrd Theatre Foundation?
The Byrd Theatre Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.byrdtheatre.org
Learn more at the official website: www.byrdtheatre.org
Mission Statement of The Byrd Theatre Foundation
The Byrd Theatre Foundation's mission is centered around enriching the cinematic experience and preserving the prestige of Virginia's iconic movie palace. Their objective is to elevate the Byrd Theatre's standing among American cinemas, serving as a hub for a diverse range of exceptional films, ensuring broad public access. The foundation's vision is to maintain this landmark position, providing a wide array of cinematic experiences that cater to various audiences.
Despite facing closures due to the COVID-19 pandemic, the foundation has demonstrated significant growth in its capacity. Utilizing funds raised in previous years, they hired their first executive director, marking a significant milestone in their development. Upon re-opening, the company introduced new revenue streams, implementing stringent health protocols and investing in the theatre's HVAC system. The maintenance work included a comprehensive cleaning of the system and installation of a triple filtration system, employing hospital-grade filters and UV lighting, aiming to minimize the spread of the virus and ensure modern maintenance. The foundation also expanded its team by hiring full-time staff members, contributing to operational stability. Moreover, they brought development activities in-house, enabling them to operate at one-third of their full capacity while prioritizing the safety of patrons and staff during the ongoing pandemic.
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Impact
October, 2024
The Byrd Theatre Foundation significantly enhances the cinematic landscape in Richmond, Virginia, by expanding the big screen experience and celebrating the art of cinema. It plays a vital role in preserving the historic Byrd Theatre, often referred to as Virginia's grand motion picture palace.
Despite challenges posed by the COVID-19 pandemic, the Foundation has made remarkable strides in capacity building. The hiring of its first executive director marked a crucial step toward operational stability, facilitating the reopening of the theatre with robust safety protocols in place. The Foundation implemented comprehensive measures, including an extensive cleaning of the HVAC system and the installation of hospital-grade filtration to ensure a safe environment for patrons.
Even under restricted capacity—maintaining operations at just one-third occupancy—the Foundation has creatively developed new revenue streams, ensuring accessibility to exceptional cinematic experiences. By employing full-time staff and bringing development activities in-house, the Foundation strengthens its operational framework, allowing for a richer cultural offering in the community. Overall, The Byrd Theatre Foundation fosters a vibrant film culture while safeguarding an iconic venue for future generations.
This information is meant to be a general summary of The Byrd 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 2024.
- Investment Income: $6,482
- Program Service Revenue: $571,249
- Gross Receipts: $2,117,802
Assets and Liabilities:
- Total Assets: $2,615,720
- Total Liabilities: $1,271,577
- Net Assets: $1,344,143
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Ticket Sales
Revenue
$513,672
Movie, game parties, a
Revenue
$57,577
Organization Details
Founding Year
2002
Principal Officer
Martin Davenport
Website
www.byrdtheatre.orgNTEE Category
Code: A61 - Arts
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