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Nonprofiteer
← LIBERTY RESTORATION INC

Form 990 for tax year 2023

Filed by LIBERTY RESTORATION INC.

Totals

Total revenue
$1,324,024
Total expenses
$1,404,917
Contributions and grants received
$761,244
Grants paid
$0
Program service revenue
$453,172
Investment income
$2,014
Other revenue
$107,594
Total assets, end of year
$5,157,821
Total liabilities, end of year
$267,870
Net assets or fund balances, end of year
$4,889,951
Program services expenses (Part IX)
$1,004,877
Management and general expenses
$302,540
Fundraising expenses
$97,500
Program service expenses (Part III)
$1,004,877

Program services were 71.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $84,300

  • 1e · Government grants (contributions)

    $213,388

  • 1f · All other contributions, gifts and grants

    $463,556

  • 1g · Noncash contributions included above

    $20,673

  • 2a · Program service revenue: TICKET SALES

    total $345,855 · related or exempt $345,855

  • 2b · Program service revenue: CONCESSIONS SALES

    total $75,362 · related or exempt $75,362

  • 2c · Program service revenue: THEATRE RENTAL

    total $31,844 · related or exempt $31,844

  • 2d · Program service revenue: MERCHANDISE SALES

    total $111 · related or exempt $111

  • 3 · Investment income

    total $2,014 · related or exempt $976 · excluded $1,038

  • 6a · Gross rents

    real property $138,128

  • 6b · Less rental expenses

    real property $22,115

  • 6c · Rental income or loss

    real property $116,013

  • 6d · Net rental income or loss

    total $116,013 · excluded $116,013

  • 8a · Fundraising events: gross income

    $11,400

  • 8a · Fundraising events: contributions included on line 1c

    $84,300

  • 8b · Fundraising events: direct expenses

    $21,043

  • 8c · Net income from fundraising events

    total -$9,643

  • 11a · Other revenue: OTHER REVENUE

    total $1,224 · related or exempt $1,224

  • 11e · Other revenue, total

    $1,224

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $69,990 · program services $69,990

  • 7 · Other salaries and wages

    total $323,230 · program services $182,067 · management and general $69,764 · fundraising $71,399

  • 9 · Other employee benefits

    total $79,998 · management and general $79,998

  • 10 · Payroll taxes

    total $33,958 · program services $26,467 · management and general $4,238 · fundraising $3,253

  • 11c · Fees: accounting

    total $22,218 · management and general $22,218

  • 11g · Fees: other

    total $341,961 · program services $313,394 · management and general $17,503 · fundraising $11,064

  • 12 · Advertising and promotion

    total $124,647 · program services $124,542 · fundraising $105

  • 13 · Office expenses

    total $19,891 · program services $12,167 · management and general $4,290 · fundraising $3,434

  • 14 · Information technology

    total $1,730 · program services $1,730

  • 17 · Travel

    total $6,005 · program services $3,922 · management and general $800 · fundraising $1,283

  • 20 · Interest

    total $5,892 · management and general $5,645 · fundraising $247

  • 22 · Depreciation, depletion and amortization

    total $188,486 · program services $188,486

  • 23 · Insurance

    total $24,806 · program services $119 · management and general $24,687

  • 24a · Other expenses: PRODUCTION SUPPLIES

    total $38,960 · program services $33,264 · management and general $2,246 · fundraising $3,450

  • 24b · Other expenses: UTILITIES

    total $38,035 · program services $2,927 · management and general $35,108

  • 24c · Other expenses: CONCESSIONS COGS

    total $29,486 · program services $29,486

  • 24d · Other expenses: REPAIR & MAITENANCE

    total $17,554 · program services $1,554 · management and general $16,000

  • 24e · All other expenses

    total $38,070 · program services $14,762 · management and general $20,043 · fundraising $3,265

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $170,446 · end of year $343,295

  • 2 · Savings and temporary cash investments

    beginning of year $3,684 · end of year $35,257

  • 3 · Pledges and grants receivable

    beginning of year $107,540

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,359

  • 10a · Land, buildings and equipment: cost or other basis

    $7,925,160

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,171,395

  • 10c · Land, buildings and equipment, net

    beginning of year $4,892,998 · end of year $4,753,765

  • 11 · Investments: publicly traded securities

    beginning of year $23,301 · end of year $25,504

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,124 · end of year $6,794

  • 19 · Deferred revenue

    beginning of year $18,920 · end of year $145,811

  • 22 · Loans and payables to officers and key people

    beginning of year $110,000

  • 25 · Other liabilities

    beginning of year $112,440 · end of year $115,265

  • 27 · Net assets without donor restrictions

    beginning of year $4,962,378 · end of year $4,889,951

  • 28 · Net assets with donor restrictions

    beginning of year $8,466

Mission and programs · 2023

Mission

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION'S MISSION: THE LIBERTY THEATRE IS A COMMUNITY GATHERING SPACE OFFERING A VARIETY OF PERFORMING ARTS EXPERIENCES. 26,000 ATTENDEES YEARLY. EDUCATIONAL PROGRAMMING THROUGH KIDS MAKE THEATRE: AFTER-SCHOOL, WEEKEND, AND CAMPS YEAR ROUND, FREE WORKSHOPS, FIELD TRIPS, AND LOW-COST PERFORMANCES. 2,900 STUDENTS SERVED YEARLY. DUE TO COVID-19, THE THEATRE WAS CLOSED TO PUBLIC EVENTS FOR NEARLY 18 MONTHS, RESULTING IN A SHORTFALL FROM LOST MARKETING, RETURNED TICKET FEES, REDUCED AUDIENCES, AND PERFORMANCE DEPOSITS. THEATRE DID NOT FULLY REOPEN UNTIL OCTOBER 2021. AUDIENCES WERE SLOW TO RETURN DUE TO UNCERTAINTY ABOUT THE VIRUS. HIGHER PROGRAM COSTS DUE TO REDUCED ENTERTAINMENT TOURING INDUSTRY AND HIGH COSTS OF PERFORMANCE FEES AND MARKETING.

Activities or mission (Part I)

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: THE ORGANIZATION IS RESTORING AND MAINTAINING A HISTORIC THEATRE WHICH PROVIDES A FORUM FOR PERFORMING ARTISTS AND COMMUNITY EVENTS. AS A VITAL COMMUNITY PARTNER, THE HISTORIC LIBERTY THEATRE IS A REGIONAL GATHERING PLACE OFFERING A VARIETY OF PERFORMING ARTS EXPERIENCES AND EDUCATIONAL PROGRAMS.

  • COMMUNITY GATHERING SPACE OFFERING A VARIETY OF PERFORMING ARTS EXPERIENCES. 17,000 ATTENDEES YEARLY. DUE TO COVID-19 THE THEATRE WAS CLOSED TO PUBLIC EVENTS AS OF MARCH 13, 2020, RESULTING IN A SHORTFALL FROM LOST MARKETING, RETURNED TICKET FEES, REDUCED AUDIENCES, AND PERFORMANCE DEPOSITS. THEATRE DID NOT FULLY REOPEN UNTIL OCTOBER, 2021. AUDIENCES WERE SLOW TO RETURN DUE TO UNCERTAINTY ABOUT THE VIRUS. HIGHER PROGRAM COSTS DUE TO REDUCED ENTERTAINMENT TOURING INDUSTRY AND HIGH COSTS OF PERFORMANCE FEES AND MARKETING.

    Expenses $783,829 · Revenue $1,081,526

  • THE LIBERTY THEATRE IS A COMMUNITY GATHERING SPACE OFFERING A VARIETY OF PERFORMING ARTS EXPERIENCES. 26,000 ATTENDEES YEARLY. EDUCATIONAL PROGRAMMING THROUGH KIDS MAKE THEATRE: AFTER-SCHOOL, WEEKEND, AND CAMPS YEAR AROUND, FREE WORKSHOPS, FIELD-TRIPS, AND LOW COST PERFORMANCES. 2,900 STUDENTS SERVED YEARLY.

    Expenses $83,708 · Revenue $122,790

  • MAINTENANCE AND RENOVATION OF STAGE SUPPORT AREAS TO INCREASE INFRASTRUCTURE AND PROGRAMMING ABILITY OF OUR HISTORIC THEATRE. THEATRE DID NOT FULLY REOPEN UNTIL OCTOBER, 2021 WITH CAPITAL CAMPAIGN AND IMPROVEMENTS LARGELY SUSPENDED UNTIL 2023.

    Expenses $137,340 · Revenue $141,573

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jennifer Crockett

    EXECUTIVE DI

    Total calculated
    $69,991
    From this org
    $69,991
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Ryan Blum

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mike Brosius

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Brett Estes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Norma Hernandez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nathan Lampson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Maura Lederer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    8

  • Julie Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Josh Stellmon

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Deborah Stenvall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dulcye Taylor

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • Katherine Watson

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202521359349308007

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