Overview
What is Virginia Musical Theatre Inc?
Virginia Musical Theatre Inc, located at 265 KINGS GRANT ROAD, Virginia Beach, VA 23452, is a leading theatre company dedicated to fostering artistic talent in a nurturing environment. With an innovative spirit, the organization continually seeks new management and artistic models, showcasing traits such as resourcefulness and collaboration. Beyond producing musical theatre revivals and new works, Virginia Musical Theatre Inc takes pride in its extensive community outreach initiatives and educational programs. The nonprofit directly supports and expands the arts, providing training and education for aspiring performers, while also increasing art awareness within their community. With a workforce of 21 individuals, the theatre company is committed to enriching the lives of its community members through the power of performance.
Official website here: www.vmttheatre.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54% (One-Star out of Four Star Rating)
Virginia Musical Theatre Inc has received a score of 54%, which indicates significant areas for improvement in its accountability and finance practices. The organization boasts a high percentage of independent board members, demonstrating a commitment to governance through an independent board structure. However, it lacks crucial financial transparency, as it has not provided financial statements or tax forms on its website, which has negatively impacted its overall score.
The organization has shown strength in its program expense ratio, allocating 72.52% of its budget towards program activities. This suggests that a substantial portion of its resources is directed towards its core mission of providing musical theatre, which is a positive aspect for potential donors. However, the absence of essential policies such as a conflict of interest policy and a whistleblower policy raises concerns about its governance practices.
Overall, while Virginia Musical Theatre Inc shows a commitment to its programs, the lack of financial transparency and missing governance policies indicate areas that require immediate attention to improve trust and accountability with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Virginia Musical Theatre Inc legitimate?
Virginia Musical Theatre Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia Musical Theatre 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: $67,900
Professional Fundraising Fees: $0
Other Salaries and Wages: $42,865
For more financial information, click here
Official website here: www.vmttheatre.org
What is the mission statement of Virginia Musical Theatre Inc?
Virginia Musical Theatre Inc serves as a leading theater company, committed to fostering artistic growth in a creative environment. Driven by an innovative spirit, the company consistently explores new management and artistic models. Marked by resourcefulness and collaboration, its management is a significant highlight. Beyond producing musical theater revivals and new works, Virginia Musical Theatre Inc is renowned for its extensive community outreach initiatives and educational programs. These programs aim to nurture and support both the artistic community and the wider public.
Official website here: www.vmttheatre.org
Who is the CEO of Virginia Musical Theatre Inc?
Mark Hudgins is the Managing Dir of Virginia Musical Theatre Inc.
Official website here: www.vmttheatre.org
What is the revenue of Virginia Musical Theatre Inc?
Virginia Musical Theatre Inc's revenue in 2022 was $648,568.
Official website here: www.vmttheatre.org
Who are the executives of Virginia Musical Theatre Inc and what are their salaries?
The average compensation at Virginia Musical Theatre Inc during 2022 was $5,275. There are 21 employees at Virginia Musical Theatre Inc.
Here are 12 key members and their salaries:
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Official website here: www.vmttheatre.org
Where can I find the form 990 for Virginia Musical Theatre Inc?
Virginia Musical Theatre Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.vmttheatre.org
Learn more at the official website: www.vmttheatre.org
Mission Statement of Virginia Musical Theatre Inc
Virginia Musical Theatre Inc, as a leading theatre company, is committed to fostering artistic growth in a creative environment. Driven by an innovative spirit, the organization is always seeking new management and artistic models. A notable characteristic of its management is resourcefulness and collaboration. Beyond producing musical theatre revivals and new works, Virginia Musical Theatre Inc takes pride in its wide array of community outreach initiatives and educational programs. These initiatives are designed to nurture artists and contribute positively to the community.
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Impact
July, 2024
Virginia Musical Theatre Inc's impact is evident in its role as a leading theatre company dedicated to nurturing artists in a creative environment. The organization's innovative spirit drives it to constantly seek new management and artistic models, showcasing resourcefulness and collaboration. By producing musical theatre revivals and new works, VMT not only supports and expands the arts but also provides valuable training and education for aspiring performers. Through a wide variety of community outreach initiatives and educational programs, VMT strives to increase art awareness and engage with the local community, making a significant impact on the cultural landscape of Virginia Beach, VA.
This information is meant to be a general summary of Virginia Musical Theatre 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.
- Program Service Revenue: $272,245
- Gross Receipts: $686,924
Assets and Liabilities:
- Total Assets: $428,462
- Total Liabilities: $740,136
- Net Assets: -$311,674
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TICKET/SUBSCRIPTION SALES
Revenue
$251,420
PLAYBILL AD SALES
Revenue
$20,825
Organization Details
Founding Year
1991
Phone
(757) 340-5446Principal Officer
Mark Hudgins
Main Address
265 KINGS GRANT ROAD, VIRGINIA BEACH, VA, 23452
Website
www.vmttheatre.orgNTEE Category
Code: A68Z - Arts
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