Overview
What is Prospect Theater Company Inc?
Prospect Theater Company Inc, situated in New York, New York, is a vibrant nonprofit organization dedicated to nurturing and showcasing emerging musical talents. They actively develop and produce new works, enabling up-and-coming artists to bring their visions to life. The company's mission extends beyond creation, providing educational and training opportunities to further foster growth in the field. Prospect Theater Company Inc also maintains a supportive network within the industry and serves as a platform for artists and audiences to engage and learn from one another. Recently, they showcased a song cycle production, "NOTES FROM NOW," at 59E59 Theater A, which attracted over 2100 attendees during its 19 performances. The company, with a workforce of 44 dedicated individuals, is based at 520 Eighth Avenue in New York City. Their mission statement, as mentioned in the information, is "Prospect is dedicated to fostering and showcasing today's new voices shaping tomorrow's musicals. We develop and produce new works, envisioned and implemented by emerging artists. Prospect creates educational and training opportunities, sustains a supportive network within the field, and provides a forum for artists and audiences to connect and learn from each other."
Official website here: www.prospecttheater.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75%, Three-Star out of Four Star rating.
Prospect Theater Company Inc has received a solid Three-Star rating from Charity Navigator, indicating a reliable performance in terms of accountability and finance. The rating is based entirely on a comprehensive evaluation of key financial and governance practices, which highlights the organization's commitment to transparency and responsible management of resources.
The organization boasts a strong governance structure with 76% of its board members being independent, ensuring diverse perspectives in decision-making. Furthermore, the absence of material diversion of assets and the presence of several essential policies, such as conflict of interest and whistleblower policies, add to its credibility. The company also demonstrates effective financial management, with a program expense ratio of 79.37%, indicating that a significant portion of its funds is directed towards its mission.
While the organization's rating reflects positively on its operations and governance, it is essential for potential supporters to consider the broader impact of its programs and community engagement beyond just financial metrics. Overall, Prospect Theater Company Inc appears to be a well-managed organization committed to fulfilling its mission responsibly.
This AI summary has been generated from information found on Charity Navigator.
Is Prospect Theater Company Inc legitimate?
Prospect Theater Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Prospect Theater Company 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: $58,822
Professional Fundraising Fees: $0
Other Salaries and Wages: $114,800
For more financial information, click here
Official website here: www.prospecttheater.org
What is the mission statement of Prospect Theater Company Inc?
Prospect Theater Company Inc is committed to nurturing and showcasing emerging talents shaping the future of musical theater. They specialize in developing and producing new works, overseen by budding artists. The organization offers educational and training opportunities, fostering a supportive environment within the field. Prospect Theater Company Inc also maintains a network within the industry, providing a platform for artists and audiences to engage and learn from each other.
Official website here: www.prospecttheater.org
Who is the CEO of Prospect Theater Company Inc?
Melissa Huber is the Board Member/Producing Artistic Director of Prospect Theater Company Inc.
Official website here: www.prospecttheater.org
What is the revenue of Prospect Theater Company Inc?
Prospect Theater Company Inc's revenue in 2022 was $516,430.
Official website here: www.prospecttheater.org
Who are the executives of Prospect Theater Company Inc and what are their salaries?
The average compensation at Prospect Theater Company Inc during 2022 was $3,946. There are 44 employees and 10 volunteers at Prospect Theater Company Inc.
Here are 13 key members and their salaries:
- Compensation: $35,542
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- Other: $0
- Compensation: $24,017
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- Other: $0
- Compensation: $3,333
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- Compensation: $1,500
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.prospecttheater.org
Where can I find the form 990 for Prospect Theater Company Inc?
Prospect Theater Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.prospecttheater.org
Learn more at the official website: www.prospecttheater.org
Mission Statement of Prospect Theater Company Inc
Prospect Theater Company Inc is committed to nurturing and showcasing the emerging talents shaping the future of musicals. This nonprofit organization focuses on developing and producing new works, spearheaded by budding artists. Prospect Theatre Company fosters an environment that encourages learning and growth, providing educational and training opportunities for aspiring artists. The company also works to establish a supportive network within the field, offering a platform for artists and audiences to engage and learn from one another. In essence, Prospect Theater Company Inc serves as a hub for the cultivation of tomorrow's musical theatre pioneers.
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Impact
July, 2024
Prospect Theater Company Inc's impact lies in fostering and showcasing today's new voices shaping tomorrow's musicals. By developing and producing new works envisioned and implemented by emerging artists, Prospect is instrumental in pushing the boundaries of musical theater and providing a platform for fresh and diverse perspectives. Through educational and training opportunities, sustaining a supportive network within the field, and creating a forum for artists and audiences to connect and learn from each other, Prospect contributes significantly to the growth and evolution of the arts scene. With initiatives like the production "Notes From Now," featuring a song cycle of commissioned works by various talented individuals, Prospect Theater Company Inc continues to enrich the cultural landscape in New York City and beyond.
This information is meant to be a general summary of Prospect Theater Company 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: $64,535
- Gross Receipts: $540,992
Assets and Liabilities:
- Total Assets: $167,991
- Total Liabilities: $11,308
- Net Assets: $156,683
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACTED SERVICES
Revenue
$21,500
TICKET SALES
Revenue
$43,035
Organization Details
Founding Year
1998
Phone
(212) 594-4476Principal Officer
Melissa Huber
Main Address
520 EIGHTH AVE 3 FL, NEW YORK, NY, 10018
Website
www.prospecttheater.orgNTEE Category
Code: A650 - Arts
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