Overview
What is Hennepin Theatre Trust?
Hennepin Theatre Trust is a Minneapolis-based nonprofit organization dedicated to enhancing downtown Minneapolis through arts and culture. They are known for bringing Broadway's leading professional productions to Minnesota, with popular shows like Hamilton, Wicked, Frozen, Dear Evan Hansen, and Come From Away drawing approximately 350,000 people to the area each year. Their three historic theaters also attract diverse musical, dance, and comedic talent, contributing significantly to the local creative economy. The Trust's mission is to bring people, businesses, and organizations together to create and enjoy cultural experiences. As leaders of the Hennepin Theatre District, they develop public-private partnerships to address challenges such as business vacancies, homelessness, safety, and youth unemployment. With a team of over 60 employees, they drive cultural and economic vitality in Minnesota.
Official website here: www.hennepintheatretrust.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
Hennepin Theatre Trust has achieved a strong Four-Star rating on Charity Navigator, indicating a high level of accountability and financial health. The organization scored 94% overall, with its score primarily reflecting its outstanding performance in accountability and finance metrics. This includes a fully independent board and robust financial oversight, as evidenced by high marks in several key areas such as board independence and conflict of interest policies.
The organization demonstrates effective financial management, with a program expense ratio of 84.52%, suggesting that a significant portion of its funds is directed towards fulfilling its mission. This commitment to efficiency is backed by comprehensive policies related to auditing, document retention, and whistleblower protections, which further enhance its credibility and operational integrity.
One area of concern noted in the metrics is the liabilities to assets ratio at 57.95%, which may suggest potential financial risk. However, given the overall positive score and strong governance structures in place, Hennepin Theatre Trust appears to be well-positioned to manage its resources effectively while continuing to deliver on its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Hennepin Theatre Trust legitimate?
Hennepin Theatre Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hennepin Theatre Trust 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: $651,497
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,602,073
For more financial information, click here
Official website here: www.hennepintheatretrust.org
What is the mission statement of Hennepin Theatre Trust?
Hennepin Theatre Trust aims to instigate positive change through the arts by uniting individuals, businesses, and organizations. They accomplish this mission by spearheading the lively Hennepin Theatre District in Minnesota and providing educational programming that reaches every corner of the state. Their five historic venues, which include the Orpheum, State, Pantages, and Dudley Riggs Theatres, as well as the Hennepin Event Center, showcase top-tier entertainment, from Broadway productions to a diverse range of arts programming. The trust is a non-profit organization, with a focus on fostering cultural and economic vitality in Minnesota.
Official website here: www.hennepintheatretrust.org
Who is the CEO of Hennepin Theatre Trust?
Mark Nerenhausen is the CEO of Hennepin Theatre Trust The CEO's salary of Hennepin Theatre Trust is $66,250 and their total compensation is $71,600.
Official website here: www.hennepintheatretrust.org
What is the revenue of Hennepin Theatre Trust?
Hennepin Theatre Trust's revenue in 2024 was $38,925,572.
Official website here: www.hennepintheatretrust.org
Who are the executives of Hennepin Theatre Trust and what are their salaries?
The average compensation at Hennepin Theatre Trust during 2024 was $86,808. There are 49 employees and 32 volunteers at Hennepin Theatre Trust.
Here are 31 key members and their salaries (Hennepin Theatre Trust's CEO's salary is $66,250 and their total compensation is $71,600):
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- Compensation: $180,000
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- Compensation: $83,335
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- Compensation: $66,250
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- Compensation: $113,000
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- Other: $10,220
Official website here: www.hennepintheatretrust.org
Where can I find the form 990 for Hennepin Theatre Trust?
Hennepin Theatre Trust's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.hennepintheatretrust.org
Learn more at the official website: www.hennepintheatretrust.org
Mission Statement of Hennepin Theatre Trust
Hennepin Theatre Trust, a renowned nonprofit organization, strives to instigate positive change in Minnesota through the arts. By acting as a catalyst, the Trust brings together various individuals, businesses, and institutions to create and experience cultural events. Hennepin Theatre Trust's commitment extends beyond its dynamic Hennepin Theatre District in downtown Minneapolis, reaching every corner of the state through its educational programming.
The Trust's five historic venues - the Orpheum, State, Pantages, and Dudley Riggs Theatres, as well as the Hennepin Event Center - are the beacons that illuminate Hennepin Avenue with top-tier entertainment. These venues play host to the best of Broadway and an eclectic array of arts programming, offering a rich and diverse cultural landscape for the community. The Trust's nonprofit status as a 501(C)(3) organization underscores its dedication to enriching the lives of Minnesotans through the transformative power of the arts.
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Impact
October, 2024
Hennepin Theatre Trust creates a vibrant cultural landscape in Minneapolis by bringing people together through the arts. Its influence extends far beyond the stage, as it serves as a catalyst for community engagement and economic revitalization in the historic Hennepin Theatre District.
With its commitment to showcasing top-tier entertainment, such as Broadway hits like "Hamilton," "Wicked," and "Frozen," the Trust attracts nearly 350,000 attendees each year, making downtown Minneapolis a lively hub for both locals and visitors. In total, more than 600,000 individuals experience various performances, including music, dance, and comedy, as the Trust diversifies its programming to feature acclaimed artists and productions.
Beyond entertainment, Hennepin Theatre Trust plays a significant role in contributing millions to the local creative economy, supporting local artists and technicians. By fostering public-private partnerships and collaborating with diverse stakeholders, it addresses pressing urban challenges, including business vacancies, homelessness, safety concerns, and youth unemployment.
Through its five historic venues, the Trust not only preserves the cultural heritage of the area but also enhances the overall experience of those who live, work, and play in downtown Minneapolis, ultimately driving both cultural and economic vitality throughout Minnesota.
This information is meant to be a general summary of Hennepin Theatre Trust. 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: $503,412
- Program Service Revenue: $33,287,543
- Gross Receipts: $39,059,385
Assets and Liabilities:
- Total Assets: $31,187,926
- Total Liabilities: $17,917,206
- Net Assets: $13,270,720
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SHOW REVENUE
Revenue
$30,830,344
COMMUNITY PROGRAMS
Revenue
$2,297,535
EVENT CENTER RENTAL REVENUE
Revenue
$91,366
MARKETING INCOME
Revenue
$68,298
Organization Details
Founding Year
2000
Principal Officer
Todd Duesing
Website
www.hennepintheatretrust.orgNTEE Category
Code: A65 - Arts
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