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Nonprofiteer
← CORNERSTONE THEATER COMPANY INC

Form 990 for tax year 2024

Filed by CORNERSTONE THEATER COMPANY INC.

Totals

Total revenue
$814,529
Total expenses
$610,966
Contributions and grants received
$746,574
Grants paid
$0
Program service revenue
$14,371
Investment income
$53,137
Other revenue
$447
Total assets, end of year
$1,779,303
Total liabilities, end of year
$42,272
Net assets or fund balances, end of year
$1,737,031
Program services expenses (Part IX)
$356,324
Management and general expenses
$156,719
Fundraising expenses
$97,923
Program service expenses (Part III)
$356,324

Program services were 58.3% 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)

    $239,788

  • 1f · All other contributions, gifts and grants

    $506,786

  • 1g · Noncash contributions included above

    $5,099

  • 2a · Program service revenue: ADMISSIONS/PERFORMANCE

    total $12,871 · related or exempt $12,871

  • 2b · Program service revenue: TUITION/TEACHING

    total $1,500 · related or exempt $1,500

  • 3 · Investment income

    total $16,814 · excluded $16,814

  • 7a · Gross sales of assets other than inventory

    securities $246,504

  • 7b · Less cost or other basis and sales expenses

    securities $210,181

  • 7c · Gain or loss

    securities $36,323

  • 7d · Net gain or loss

    total $36,323 · excluded $36,323

  • 11a · Other revenue: MISCELLANEOUS

    total $447 · excluded $447

  • 11e · Other revenue, total

    $447

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $246,182 · program services $141,118 · management and general $36,679 · fundraising $68,385

  • 7 · Other salaries and wages

    total $159,814 · program services $117,950 · management and general $26,318 · fundraising $15,546

  • 8 · Pension plan contributions

    total $3,521 · program services $2,465 · management and general $528 · fundraising $528

  • 9 · Other employee benefits

    total $14,855 · program services $14,855

  • 10 · Payroll taxes

    total $32,433 · program services $19,803 · management and general $5,579 · fundraising $7,051

  • 11b · Fees: legal

    total $7,885 · management and general $7,885

  • 11c · Fees: accounting

    total $35,903 · management and general $35,903

  • 11f · Fees: investment management

    total $12,839 · management and general $12,839

  • 11g · Fees: other

    total $11,650 · program services $7,891 · management and general $3,759

  • 12 · Advertising and promotion

    total $2,240 · program services $296 · management and general $830 · fundraising $1,114

  • 13 · Office expenses

    total $11,821 · program services $4,935 · management and general $6,107 · fundraising $779

  • 16 · Occupancy

    total $22,329 · program services $11,165 · management and general $11,164

  • 17 · Travel

    total $13,497 · program services $11,907 · management and general $1,084 · fundraising $506

  • 22 · Depreciation, depletion and amortization

    total $5,978 · program services $2,989 · management and general $2,989

  • 23 · Insurance

    total $26,759 · program services $18,731 · management and general $4,014 · fundraising $4,014

  • 24a · Other expenses: PRODUCTION COSTS

    total $2,219 · program services $2,219

  • 24b · Other expenses: BANK AND MERCHANT FEES

    total $1,041 · management and general $1,041

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $31,162 · end of year $170,505

  • 2 · Savings and temporary cash investments

    beginning of year $447,716 · end of year $301,151

  • 3 · Pledges and grants receivable

    beginning of year $163,910 · end of year $349,880

  • 4 · Accounts receivable

    beginning of year $14,837 · end of year $5,300

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

    $226,230

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

    $220,305

  • 10c · Land, buildings and equipment, net

    beginning of year $11,903 · end of year $5,925

  • 11 · Investments: publicly traded securities

    beginning of year $816,985 · end of year $915,985

  • 15 · Other assets

    beginning of year $30,557 · end of year $30,557

  • 17 · Accounts payable and accrued expenses

    beginning of year $41,772 · end of year $37,272

  • 19 · Deferred revenue

    beginning of year $5,000 · end of year $5,000

  • 27 · Net assets without donor restrictions

    beginning of year $550,087 · end of year $463,835

  • 28 · Net assets with donor restrictions

    beginning of year $920,211 · end of year $1,273,196

Mission and programs · 2024

Mission

CORNERSTONE THEATER COMPANY COLLABORATES WITH COMMUNITIES. OUR WORK REFLECTS COMPLEXITY, DISRUPTS ASSUMPTIONS, WELCOMES DIFFERENCE, AND AMPLIFIES JOY.

Activities or mission (Part I)

CORNERSTONE THEATER COMPANY COLLABORATES WITH COMMUNITIES.CORNERSTONE THEATER COMPANY COLLABORATES WITH COMMUNITIES. OUR WORK REFLECTS COMPLEXITY, DISRUPTS ASSUMPTIONS, WELCOMES DIFFERENCE, AND AMPLIFIES JOY. BY COMBINING THE ARTISTRY OF PEOPLE WITH MANY LEVELS OF THEATRICAL EXPERIENCE, WE ACT UPON THE CONVICTION THAT ARTISTIC EXPRESSION IS CIVIC ENGAGEMENT AND THAT ACCESS TO A CREATIVE FORUM IS ESSENTIAL TO THE WELLNESS AND HEALTH OF EVERY INDIVIDUAL AND COMMUNITY.

  • CORNERSTONE'S MAIN PROGRAMMING OBJECTIVE IS TO COLLABORATE WITH COMMUNITIES AND MAKE ART THAT IMAGINES JUSTICE, CONSPIRES DISCOURSE, MANIFESTS EXPANSIVE JOY, AND CREATES CHANGE. THE COMPANY APPROACHES THIS OBJECTIVE FROM DIFFERENT POINTS OF ENTRY, AND OUR PROCESS PLAYS ITSELF OUT IN YEAR-ROUND PROGRAMMING. CORNERSTONE'S COMMUNITY COLLABORATIONS CULMINATE IN FULLY PRODUCED THEATRICAL PRODUCTIONS BUT BEGIN WITH PARTICIPATORY ENGAGEMENTS - STORY CIRCLES, WORKSHOPS, SKILL SHARES AND CREATIVE MUTUAL AID. CORNERSTONE'S COMMUNITY COLLABORATIONS UNFOLD ACROSS YEARS OF INTIMATE, CREATIVE LABOR THAT INCLUDES THE PUBLIC AT EVERY JUNCTURE AS A NECESSARY PARTNER IN THE DEVELOPMENT PROCESS. THE COMPANY BELIEVE IN A "PUBLIC DRAMATURGY" THAT POSITIONS AUDIENCES -- OFTEN COMPOSED OF WIDER COMMUNITY MEMBERS, FRIENDS AND FAMILY -- IN DIALOGUE WITH THE WORK AS IT DEVELOPS.

    Expenses $356,324 · Revenue $14,371

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Elizabeth Kennedy

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Sarah Lang

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Leanna Hallman

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Margaret Irwin

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Tena Yatroussis

    DIRECTOR (UNTIL 12/5/24)

    Total calculated
    $0
    Hours/week
    1

  • Annie Yee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ruth Alyce

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melody Kanschat

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Matthew Rowland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Megan Wanlass

    MANAGING DIRECTOR

    Total calculated
    $113,556
    From this org
    $97,325
    From related orgs
    $0
    Other
    $16,231
    Hours/week
    50

  • Charlotte Brathwaite

    CO-ARTISTIC DIRECTOR (UNTIL 01/31/25)

    Total calculated
    $63,839
    From this org
    $60,607
    From related orgs
    $0
    Other
    $3,232
    Hours/week
    30

  • Sunder Ganglani

    CO-ARTISTIC DIRECTOR

    Total calculated
    $61,564
    From this org
    $61,222
    From related orgs
    $0
    Other
    $342
    Hours/week
    30

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
2024
Filed
15 May 2026
IRS schema version
2024v5.5
Source object
202601359349310750

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