Overview
What is Theatrelab Inc?
Theatrelab Inc, located at 300 E Broad St, Richmond, VA 23219, is a small nonprofit organization dedicated to live performance art. Recognizing the power of immediacy and community-building through shared experiences, they aim to expand the Richmond theatre audience-base by presenting high-quality performances and appealing to diverse audiences. Their mission is to foster artistic talent and challenge norms through unique theatrical experiences, providing a platform for experimental works. Despite the challenges posed by the COVID-19 pandemic, TheatreLAB managed to produce one show in 2021, albeit with a truncated run due to local lockdowns.
Official website here: www.theatrelab.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 16%, Zero-Star out of Four Star rating. Theatrelab Inc has received a low score primarily due to concerns regarding its accountability and financial management practices. The rating highlights critical deficiencies, particularly the lack of independent board members and missing essential policies such as conflict of interest and whistleblower protections.
The organization has a significant liability-to-assets ratio of 790.18%, indicating potential financial instability. Additionally, only 26.70% of its expenses are allocated towards programs, raising questions about the effectiveness and impact of its operations. While it has documented board meeting minutes and lists its website on its tax forms, the overall governance structure remains concerning.
Improvements are necessary for Theatrelab Inc to enhance its accountability and transparency standards. Addressing the outlined issues could potentially lead to a better rating and increased donor confidence in the organization’s operations and financial stewardship.
This AI summary has been generated from information found on Charity Navigator.
Is Theatrelab Inc legitimate?
Theatrelab Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Theatrelab 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.theatrelab.org
What is the mission statement of Theatrelab Inc?
Theatrelab Inc, as a theatrical organization, is dedicated to providing unique and thought-provoking experiences for its audience. By leveraging the creativity of artists and fostering an environment that encourages emerging talent, the company aims to challenge conventional artistic norms. Through experimental means, TheatreLAB brings to life fresh and exciting works, fostering a collaborative exchange of ideas between artists and their audience.
Official website here: www.theatrelab.org
What is the revenue of Theatrelab Inc?
Theatrelab Inc's revenue in 2023 was $28,241.
Official website here: www.theatrelab.org
Who are the executives of Theatrelab Inc and what are their salaries?
The average compensation at Theatrelab Inc during 2023 was $20,800. There is 1 employee at Theatrelab Inc.
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.theatrelab.org
Where can I find the form 990EZ for Theatrelab Inc?
Theatrelab Inc's most recent form 990EZ was submitted in 2023 and can be accessed here.
Official website here: www.theatrelab.org
Learn more at the official website: www.theatrelab.org
Mission Statement of Theatrelab Inc
TheatreLAB Inc, as a nonprofit organization, is dedicated to fostering a collaborative exchange of ideas between artists and their audience through unique theatrical experiences. By providing a nurturing environment, TheatreLAB encourages emerging talent and challenges conventional artistic norms. Their ensemble employs experimental devices to bring new and exciting works to life, thereby contributing to the richness and diversity of the performing arts scene.
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Impact
August, 2024
Theatrelab Inc's impact lies in creating unique theatrical experiences that ignite collaboration and exchange of ideas between artists and audiences. By fostering emerging talent and challenging artistic norms through experimental works, they contribute to the vibrancy of Richmond's arts scene. Despite the challenges posed by the COVID-19 pandemic, Theatrelab Inc continues to push boundaries and build a community through shared live performances. Their mission to offer high-quality art and appeal to diverse audiences showcases their commitment to expanding and diversifying the Richmond theatre audience-base.
This information is meant to be a general summary of Theatrelab 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 2023.
- Program Service Revenue: $16,721
- Gross Receipts: $28,241
Assets and Liabilities:
- Total Assets: $21,167
- Total Liabilities: $167,258
- Net Assets: -$146,091
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Shows
Revenue
$8,599
Concessions
Revenue
$3,705
Organization Details
Founding Year
2012
Principal Officer
Matthew Bauserman
Website
www.theatrelab.orgNTEE Category
Code: A65 - Arts
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