THEATREWORKS USA CORPORATION

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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

1967

Legal Domicile

Principal Officer

MICHAEL HARRINGTON

Phone

2126471100

Tax Period

2022-07-01 to 2023-06-30

THEATREWORKS USA CORPORATION, founded in 1967, is a community nonprofit in the Arts, Culture & Humanities sector that reported $6.9M in total revenue in fiscal year 2022. Revenue decreased 9% compared to the prior year.

Mission

THEATERWORKSUSA CREATES EXCEPTIONAL, TRANSFORMATIVE THEATRICAL EXPERIENCES FOR YOUNG AND FAMILY AUDIENCES IN DIVERSE COMMUNITIES THROUGHOUT NEW YORK CITY AND NORTH AMERICA.

Program Service Accomplishments

Program 1

Expenses: $5,939,109 Revenue: $5,098,188

NATIONAL TOURING/THEATRE ACCESSTWUSA PRODUCES PROFESSIONAL THEATER FOR YOUNG AND FAMILY AUDIENCES AND THEN TOURS THESE PRODUCTIONS TO NEARLY 500 SCHOOLS, COMMUNITY CENTERS, AND THEATERS ACROSS NORTH AMERICA. THIS PROGRAM REACHES OVER 1.2 MILLION CHILDREN, EDUCATORS, AND FAMILIES ANNUALLY (MORE THAN 100 MILLION INDIVIDUALS CUMULATIVELY SERVED IN THE ORGANIZATION'S LIFETIME), INCLUDING MANY UNDERSERVED YOUTH AND COMMUNITIES. FREE AND SUBSIDIZED TICKETS ARE DISTRIBUTED TO CHILDREN AND SCHOOLS IN NEED IN AN ATTEMPT TO MAKE LIVE THEATER AS ACCESSIBLE AS POSSIBLE. SPECIAL, FREE PERFORMANCES FREQUENTLY TAKE PLACE IN CHILDREN'S HOSPITALS AND AREAS AFFECTED BY TRAGEDY.

Program 2

Expenses: $242,511 Revenue: $140,000

NEW WORK DEVELOPMENTNEW WORK DEVELOPMENT IS THE ARTISTIC ENGINE OF TWUSA WHICH COMMISSIONS, DEVELOPS, AND PRODUCES NEW WORKS OF THEATER FOR YOUNG AND FAMILY AUDIENCES EVERY YEAR. WE ENGAGE...

NEW WORK DEVELOPMENTNEW WORK DEVELOPMENT IS THE ARTISTIC ENGINE OF TWUSA WHICH COMMISSIONS, DEVELOPS, AND PRODUCES NEW WORKS OF THEATER FOR YOUNG AND FAMILY AUDIENCES EVERY YEAR. WE ENGAGE PROFESSIONAL, CREATIVE AND PERFORMING ARTISTS TO CREATE WORK THAT IS RELEVANT TO OUR AUDIENCE MEMBERS IN THEIR EDUCATIONAL, SOCIAL-EMOTIONAL, AND CREATIVE DEVELOPMENT. IN ITS LIFETIME, TWUSA HAS DEVELOPED A REPERTOIRE OF 141 NEW PLAYS AND MUSICALS ADAPTED FROM LITERATURE, HISTORICAL EVENTS, AND VARIOUS ASPECTS OF WORLD CULTURE.

Program 3

Expenses: $99,620 Revenue: $84,577

ACADEMY & COMMUNITY ENGAGEMENTTWUSA IS WHERE ARTS AND EDUCATION MEET TO ENHANCE COMMUNITIES AND ENLIGHTEN STUDENTS TO SEE THEIR FULL INSPIRED POTENTIAL. WE WORK IN SCHOOL DISTRICTS (BOTH DURING...

ACADEMY & COMMUNITY ENGAGEMENTTWUSA IS WHERE ARTS AND EDUCATION MEET TO ENHANCE COMMUNITIES AND ENLIGHTEN STUDENTS TO SEE THEIR FULL INSPIRED POTENTIAL. WE WORK IN SCHOOL DISTRICTS (BOTH DURING SCHOOL HOURS AND WITH AFTER-SCHOOL PROGRAMS) WITH CUSTOMIZABLE PROGRAM STRUCTURES AND LESSON PLANS THAT UNIQUELY INSTILL CONFIDENCE AND PRIDE IN EVERY STUDENT. EXAMPLE OFFERINGS INCLUDE MAKE A STORY!, MAKE A SONG!, ON BROADWAY, MAKE A DESIGN!, AND ENSEMBLE THEATER SPORTS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,273,365

Program Service Revenue $5,279,242

Investment Income $47,660

Other Revenue $284,142

TOTAL REVENUE $6,884,409

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,107,236

Fundraising Expenses $138,899

Program Expenses $6,281,240

Other Expenses $4,275,120

TOTAL EXPENSES $7,382,356

Year-over-Year Comparison

	2022	2021	Change
Revenue	$6,884,409	$7,602,436	-0.1%
Expenses	$7,382,356	$4,524,874	+0.6%
Net Income	$-497,947	$3,077,562	-1.2%

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

305

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

$405,917

Total Directors