Totals
- Total revenue
- $1,956,145
- Total expenses
- $264,979
- Contributions and grants received
- $1,782,789
- Grants paid
- $0
- Program service revenue
- $50,788
- Investment income
- $30,426
- Other revenue
- $92,142
- Total assets, end of year
- $5,123,808
- Total liabilities, end of year
- $1,992,701
- Net assets or fund balances, end of year
- $3,131,107
- Program services expenses (Part IX)
- $98,483
- Management and general expenses
- $166,496
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $98,483
Program services were 37.2% 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.
-
1e · Government grants (contributions)
$1,440,596
-
1f · All other contributions, gifts and grants
$342,193
-
2a · Program service revenue: THEATRE EVENTS
total $49,628 · related or exempt $49,628
-
2b · Program service revenue: THEATRE RENTALS
total $1,160 · related or exempt $1,160
-
3 · Investment income
total $30,426 · excluded $30,426
-
10a · Gross sales of inventory
$9,311
-
10b · Cost of goods sold
$13,687
-
10c · Net income from sales of inventory
total -$4,376 · related or exempt -$4,376
-
11a · Other revenue: CONSTRUCTION ADMIN FEE
total $80,160 · related or exempt $80,160
-
11b · Other revenue: OTHER
total $15,038 · related or exempt $15,038
-
11c · Other revenue: HISTORIC RESTORATION F
total $1,320 · related or exempt $1,320
-
11e · Other revenue, total
$96,518
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $123,861 · program services $29,111 · management and general $94,750
-
9 · Other employee benefits
total $136 · program services $32 · management and general $104
-
10 · Payroll taxes
total $9,520 · program services $2,238 · management and general $7,282
-
11c · Fees: accounting
total $31,475 · management and general $31,475
-
12 · Advertising and promotion
total $4,836 · program services $2,142 · management and general $2,694
-
13 · Office expenses
total $5,013 · program services $1,084 · management and general $3,929
-
14 · Information technology
total $625 · program services $135 · management and general $490
-
16 · Occupancy
total $3,731 · program services $3,731
-
19 · Conferences, conventions and meetings
total $15,852 · program services $281 · management and general $15,571
-
20 · Interest
total $8,005 · management and general $8,005
-
22 · Depreciation, depletion and amortization
total $3,704 · program services $3,704
-
23 · Insurance
total $8,690 · program services $7,103 · management and general $1,587
-
24a · Other expenses: EVENT EXPENSES
total $42,582 · program services $42,582
-
24b · Other expenses: BANK AND MERCHANT SERVI
total $4,408 · program services $3,799 · management and general $609
-
24c · Other expenses: LICENSES, PERMITS, REGI
total $2,541 · program services $2,541
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $379,991 · end of year $414,692
-
2 · Savings and temporary cash investments
beginning of year $141,029 · end of year $269,079
-
3 · Pledges and grants receivable
beginning of year $463,492 · end of year $319,018
-
7 · Other notes and loans receivable
beginning of year $3,034,400 · end of year $3,034,400
-
9 · Prepaid expenses and deferred charges
beginning of year $2,616 · end of year $1,453
-
10a · Land, buildings and equipment: cost or other basis
$227,536
-
10b · Land, buildings and equipment: accumulated depreciation
$3,688
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $223,848
-
12 · Investments: other securities
beginning of year $387,557 · end of year $843,460
-
14 · Intangible assets
end of year $17,858
-
17 · Accounts payable and accrued expenses
beginning of year $278,120 · end of year $440,406
-
19 · Deferred revenue
beginning of year $600,000 · end of year $4,807
-
23 · Secured mortgages and notes payable
beginning of year $2,155,157 · end of year $1,547,488
-
27 · Net assets without donor restrictions
beginning of year $203,168 · end of year $2,799,505
-
28 · Net assets with donor restrictions
beginning of year $1,172,640 · end of year $331,602
Mission and programs · 2022
Mission
THE SPECIFIC PURPOSES FOR WHICH THE CORPORATION IS ORGANIZED ARE TO CONTRIBUTE TO DOWNTOWN REVITALIZATION AND ECONOMIC GROWTH IN WYTHEVILLE, VIRGINIA BY PURCHASING, RENOVATING AND OPERATING THE HOISTORIC MILLWALD THEATRE AS A MULTIPURPOSE ENTERTAINMENT AND EDUCATION VENUE AND TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS IN CONNECTION WITH ANY ACTIVITIES THAT ARE IN THE PURVIEW OF SECTION 501 (C) (3) OF THE CODE OR CORRESPONDING SECTIONS OF ANY PRIOR OR FUTURE LAW
Activities or mission (Part I)
TO PURCHASE, RENOVATE AND OPERATE THE HISTORICAL MILLWALD THEATRE AS A MULTIPURPOSE ENTERTAINMENT AND EDUCATION VENUE.
-
THE ORGANIZATION CONCENTRATED ITS EFFORTS TOWARD ITS MISSION OF COMPLETING THE RESTORATION AND OPENING THE THEATER. MID-SUMMER SAW THE HIRING AND TRAINING OF STAFF. CONSTRUCTION WAS ONGOING THROUGHOUT THE YEAR WITH SUBSTANTIAL COMPLETION IN NOVEMBER. THE GRAND OPENING OCCURRED ON DECEMBER 9, 2023.
Expenses $98,483 · Revenue $142,930
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Mark J BloomfieldMARK J BLOOMFIELD
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 3
-
Russell T JonesRUSSELL T JONES
VICE-CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
Rebecca JamesREBECCA JAMES
SECRETARY
- Total calculated
- $0
- Hours/week
- 3
-
Bruce StephensBRUCE STEPHENS
TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Cm WaltersCM WALTERS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Teresa HageeTERESA HAGEE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Terry BeamerTERRY BEAMER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
David ManleyDAVID MANLEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Glenda Crockett-EansGLENDA CROCKETT-EANS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Donald Martin JrDONALD MARTIN JR
BOARD MEMBER
- 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
- 2022
- Filed
- 18 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333109349301248
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