SECOND THOUGHT THEATRE (EIN 113715673) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

Greg Odegaard

Phone

2142287842

Tax Period

2024-01-01 to 2024-12-31

SECOND THOUGHT THEATRE, founded in 2004, is a small nonprofit in the Arts, Culture & Humanities sector that reported $309K in total revenue in fiscal year 2024. Revenue surged 43% from the prior year, signaling strong growth momentum. The organization ran a surplus of $93K, a strong 30% operating margin.

Mission

Second Thought Theatre provides an intimate and unique theatrical experience by empowering top local artists to take risks and by showcasing writers who boldly tackle the difficult and demanding questions of our rapidly changing world.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $264,019

Program Service Revenue $25,039

Investment Income $10,810

Other Revenue $9,620

TOTAL REVENUE $309,488

Expense Breakdown

Grants Paid $0

Salaries & Benefits $72,394

Fundraising Expenses $6,254

Program Expenses $177,229

Other Expenses $144,591

TOTAL EXPENSES $216,985

Year-over-Year Comparison

	2024	2023	Change
Revenue	$309,488	$216,632	+0.4%
Expenses	$216,985	$218,614	0.0%
Net Income	$92,503	$-1,982	-47.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$51,250

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Greg Odegaard	Board President	6.00	Officer Director	$0	$0	$0
Clayton Ellis	Secretary	3.00	Officer Director	$0	$0	$0
John Farrell	Asst Secretary	3.00	Officer Director	$0	$0	$0
Elizabeth Dacus	Treasurer	5.00	Officer Director	$0	$0	$0
Jim Nugent	Asst Treasurer	3.00	Officer Director	$0	$0	$0
Robin Lederer	Director	3.00	Director	$0	$0	$0
David Leggett	Director	3.00	Director	$0	$0	$0
Wolford McCue	Director	3.00	Director	$0	$0	$0
Lauren Slade	Director	3.00	Director	$0	$0	$0
Joshua D Terry	Director	3.00	Director	$0	$0	$0
Parker Gray	Executive Director	20.00	Director	$33,500	$0	$33,500
Carson McCain	Artistic Director	20.00	Director	$17,750	$0	$17,750
Emily Ernst	Director	3.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$309,488	$216,985	$314,082	$92,503
2023	$216,632	$218,614	$226,999	$-1,982
2022	$200,559	$187,525	$236,208	$13,034
2022	$39,975	$76,792	$217,326	$-36,817

SECOND THOUGHT THEATRE