Overview
What is Watertower Theatre Inc?
Watertower Theatre Inc, located in Addison, Texas, is a nonprofit organization dedicated to enriching the community through various educational opportunities. Their summer conservatory immerses children in the world of theatre arts for two weeks, while their after-school program offers a unique introduction to theatre for students. Additionally, acting classes are available throughout the year for local actors. Beyond these programs, Watertower Theatre Inc provides summer internships, providing young professionals with hands-on experience in a small professional theatre setting. The organization's mission is to create innovative, diverse theatre that fosters empathy and dialogue within the community, thereby building a stronger community.
Official website here: www.watertowertheatre.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (73%, Two-Star out of Four Star rating)
Watertower Theatre Inc has received a rating of 73% from Charity Navigator, indicating that there is room for improvement in its operations and accountability. The organization excels in its culture and community metrics, scoring a perfect 100 in that area. Notable strengths include a fully independent board and strong financial oversight, but the lack of a whistleblower policy and document retention protocols has been pointed out as significant gaps.
User feedback from Great Nonprofits highlights the community's positive perception of the theater, with volunteers praising its role in the Dallas arts scene. One reviewer mentioned the growth of the theater in recent years, emphasizing creative programming and strong leadership, which contributed to its increasing recognition and support among local champions of the arts.
Despite its strengths, the organization faces challenges, particularly in financial health, as indicated by a liabilities to assets ratio of 115.04%. This could pose potential risks if not addressed. Overall, while Watertower Theatre Inc shows promise in engaging the community and maintaining an independent governance structure, it must focus on improving its financial practices and policy compliance to enhance its standing.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Watertower Theatre Inc legitimate?
Watertower Theatre Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Watertower 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: $76,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $437,851
For more financial information, click here
Official website here: www.watertowertheatre.org
What is the mission statement of Watertower Theatre Inc?
Watertower Theatre Inc's mission is centered around creating innovative and diverse theatre productions that serve to foster empathy and promote dialogue within the community. By doing so, the theatre aims to build a stronger, more connected community. In addition to their performance-based efforts, Watertower Theatre Inc offers various educational opportunities to the community, such as a summer conservatory for children, an after-school program, acting classes, summer internships, and acting classes for local actors. These educational initiatives provide a unique platform for individuals to engage with theatre arts and develop their skills.
Official website here: www.watertowertheatre.org
Who is the CEO of Watertower Theatre Inc?
Shane Peterman is the Managing Director of Watertower Theatre Inc.
Official website here: www.watertowertheatre.org
What is the revenue of Watertower Theatre Inc?
Watertower Theatre Inc's revenue in 2022 was $749,399.
Official website here: www.watertowertheatre.org
Who are the executives of Watertower Theatre Inc and what are their salaries?
There 18 volunteers at Watertower Theatre Inc.
Here are 14 key members and their salaries:
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Official website here: www.watertowertheatre.org
Where can I find the form 990 for Watertower Theatre Inc?
Watertower Theatre Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.watertowertheatre.org
Learn more at the official website: www.watertowertheatre.org
Mission Statement of Watertower Theatre Inc
Watertower Theatre Inc is committed to creating innovative and diverse theatre that fosters empathy and dialogue, thereby building community. Their mission is to utilize the power of theatre to engage the community and encourage open discussions. To achieve this, they offer various educational opportunities, such as a summer conservatory for children, an after-school program for students, acting classes for local actors, summer internships for young professionals, and ongoing acting classes throughout the season. These initiatives aim to introduce individuals to the world of theatre and provide them with a platform to express themselves and engage with others in a meaningful way. By fostering empathy and dialogue through theatre, Watertower Theatre Inc contributes to a more connected and understanding community.
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Impact
July, 2024
Watertower Theatre Inc's impact lies in creating innovative and diverse theater that fosters empathy and dialogue within the community. Through its various educational programs, such as the Summer Conservatory for children, after-school programs, acting classes, and summer internships, the theatre provides valuable opportunities for individuals to engage with and learn about all aspects of theatre arts. By offering these educational initiatives, Watertower Theatre Inc not only helps individuals develop their artistic skills but also contributes to building a more vibrant and culturally enriched community in Addison, TX.
This information is meant to be a general summary of Watertower 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: $104,939
- Gross Receipts: $749,399
Assets and Liabilities:
- Total Assets: $175,023
- Total Liabilities: $201,355
- Net Assets: -$26,332
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Ticket Sales
Revenue
$104,939
Organization Details
Founding Year
1977
Principal Officer
Shane Peterman
Main Address
15650 Addison Road, Addison, TX, 75001
Website
www.watertowertheatre.orgNTEE Category
Code: A650 - Arts
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