Overview
What is Michigan Theater Foundation Inc?
Michigan Theater Foundation Inc is a vibrant nonprofit organization situated in Ann Arbor, Michigan. Their primary focus is maintaining, operating, and restoring the iconic Michigan Theater and State Theatre. The foundation's mission is to unite diverse individuals, foster community building, promote public storytelling, and support the arts. By preserving these historic structures, they aim to enhance understanding, advance cultural experiences, and contribute to the local community. With over 111 dedicated employees, Michigan Theater Foundation Inc plays an essential role in enriching the cultural landscape of Ann Arbor.
Official website here: www.michtheater.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Stars)
The Michigan Theater Foundation Inc has received an 82% rating from Charity Navigator, indicating a solid level of accountability and transparency. The high scores reflect strong governance practices, with 94% of board members being independent and an effective audit and oversight mechanism in place. This commitment to ethical management and financial integrity is evident in their policies regarding conflicts of interest and whistleblowing.
The foundation demonstrates a responsible approach to its financial management, maintaining a low liabilities-to-assets ratio of 11.69%. However, while their program expense ratio of 62.22% is above average, there is still room for improvement, as 25 points were available in this category. This suggests that a larger portion of their budget could be allocated to direct program expenses, which would enhance their overall impact.
Overall, Michigan Theater Foundation Inc displays strong accountability and financial practices, but they may benefit from a more strategic focus on maximizing program expenditures to better serve their mission and community.
This AI summary has been generated from information found on Charity Navigator.
Is Michigan Theater Foundation Inc legitimate?
Michigan Theater Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Michigan Theater Foundation 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $237,270
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,578,341
For more financial information, click here
Official website here: www.michtheater.org
What is the mission statement of Michigan Theater Foundation Inc?
The mission of Michigan Theater Foundation Inc is centered around fostering a sense of community by bringing diverse individuals together. This is achieved through promoting public storytelling and the arts, enhancing understanding, and protecting historic buildings. The foundation's activities also aim to advance these objectives, contributing significantly to the enrichment of the arts for the benefit of the community. In essence, their mission is to serve as a cultural hub, promoting unity, learning, and preservation.
Official website here: www.michtheater.org
Who is the CEO of Michigan Theater Foundation Inc?
Russell B Collins is the Ceo/Secretar of Michigan Theater Foundation Inc. The CEO's salary of Michigan Theater Foundation Inc is $141,516 and their total compensation is $159,515.
Official website here: www.michtheater.org
What is the revenue of Michigan Theater Foundation Inc?
Michigan Theater Foundation Inc's revenue in 2022 was $5,597,881.
Official website here: www.michtheater.org
Who are the executives of Michigan Theater Foundation Inc and what are their salaries?
The average compensation at Michigan Theater Foundation Inc during 2022 was $16,357. There are 111 employees and 285 volunteers at Michigan Theater Foundation Inc.
Here are 18 key members and their salaries (Michigan Theater Foundation Inc's CEO's salary is $141,516 and their total compensation is $159,515):
- Compensation: $141,516
- Related: $0
- Other: $17,999
- Compensation: $131,000
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- Other: $6,280
- Compensation: $96,354
- Related: $0
- Other: $3,854
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Official website here: www.michtheater.org
Where can I find the form 990 for Michigan Theater Foundation Inc?
Michigan Theater Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.michtheater.org
Learn more at the official website: www.michtheater.org
Mission Statement of Michigan Theater Foundation Inc
Michigan Theater Foundation Inc's mission is centered around fostering community and promoting public storytelling and the arts. The organization strives to bring diverse individuals together, aiming to enhance understanding and foster a sense of unity. In addition to community building, Michigan Theater Foundation Inc is committed to preserving historic buildings, specifically the Michigan Theater and the State Theatre. By operating, maintaining, and restoring these venues, the foundation contributes to the arts and provides a valuable resource for the community. Ultimately, Michigan Theater Foundation Inc's mission is to joyfully bring people together, enrich cultural experiences, and protect historical architectural landmarks.
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Impact
July, 2024
Michigan Theater Foundation Inc's impact is significant in fostering community engagement, promoting understanding, advancing public storytelling and the arts, as well as preserving historic buildings. Through its operations, maintenance, and restoration efforts at the Michigan Theater and State Theatre in Ann Arbor, MI, the organization plays a crucial role in providing a space for diverse individuals to come together, enjoy arts and cultural experiences, and contribute to the vibrancy of the community. By fulfilling its mission to joyfully bring people together and protect historic landmarks, Michigan Theater Foundation Inc positively influences the cultural landscape of the region.
This information is meant to be a general summary of Michigan Theater Foundation 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: $9,888
- Program Service Revenue: $1,718,380
- Gross Receipts: $5,661,964
Assets and Liabilities:
- Total Assets: $15,897,834
- Total Liabilities: $1,254,119
- Net Assets: $14,643,715
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FILM AND EVENT INCOME
Revenue
$1,702,258
MEMBERSHIP DUES
Revenue
$16,122
Organization Details
Founding Year
1979
Phone
(734) 668-8397Principal Officer
Russell B Collins
Main Address
603 EAST LIBERTY, ANN ARBOR, MI, 48104
Website
www.michtheater.orgNTEE Category
Code: A610 - Arts
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