MCCARTER THEATRE COMPANY

EIN: 210724198 501(c)(3) Arts, Culture & Humanities

PRINCETON, NJ

Total Revenue
$14,720,259
Total Expenses
$15,454,873
Total Assets
$36,094,924
Net Assets
$32,047,207
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Financial Trends

Organization Details

Formation Year
1960
Legal Domicile
NJ
Principal Officer
MARTIN MILLER
Phone
6092586500
Tax Period
2024-07-01 to 2025-06-30

MCCARTER THEATRE COMPANY, founded in 1960, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $14.7M in total revenue in fiscal year 2024. Net assets of $32.0M represent 26 months of operating reserves.

Mission

MCCARTER IS ONE OF THE COUNTRY'S FLAGSHIP THEATRES AND A CULTURAL ASSET FOR ALL OF CENTRAL NEW JERSEY. A NATIONALLY RENOWNED, INDEPENDENT PERFORMING ARTS CENTER LOCATED ON THE CAMPUS OF PRINCETON UNIVERSITY, THE COMPANY IS A MULTI-DISCIPLINARY CREATIVE HUB OF ARTS AND IDEAS OFFERING THEATER, MUSIC, DANCE, SPOKEN WORD, AND EDUCATIONAL PROGRAMS FOR ALL AGES. KNOWN FOR ITS COMMITMENT TO CREATIVITY AND EXCELLENCE, AS WELL AS ITS THOUGHTFUL AND ENGAGED AUDIENCE, MCCARTER HAS PROVIDED A HOME FOR ARTISTS SINCE ITS INCORPORATION. THORNTON WILDER'S OUR TOWN, KAUFMANN & HART'S YOU CAN'T TAKE IT WITH YOU, AND WILLIAM INGE'S BUS STOP, ALL HAD THEIR PREMIERES ON MCCARTER'S STAGE. THE COMPANY IS THE RECIPIENT OF THE REGIONAL THEATRE TONY AWARD, AND WON AGAIN FOR BEST PLAY FOR CHRISTOPHER DURANG'S VANYA AND SONIA AND MASHA AND SPIKE. MCCARTER IS CO-LED TODAY BY ARTISTIC DIRECTOR SARAH RASMUSSEN AND EXECUTIVE DIRECTOR MARTIN MILLER.

Program Service Accomplishments

Program 1
Expenses: $12,897,357 Revenue: $7,610,590

ARTISTIC AND EDUCATION PROGRAMSMCCARTER WELCOMED OVER 100,000 COMMUNITY MEMBERS DURING THE 2024-25 SEASON FOR 275 PERFORMANCES AND EVENTS INCLUDING THE THEATRE, DANCE AND CLASSICAL SERIES PRODUCTIONS...

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ARTISTIC AND EDUCATION PROGRAMSMCCARTER WELCOMED OVER 100,000 COMMUNITY MEMBERS DURING THE 2024-25 SEASON FOR 275 PERFORMANCES AND EVENTS INCLUDING THE THEATRE, DANCE AND CLASSICAL SERIES PRODUCTIONS AND ONE-NIGHT ONLY PERFORMANCES AND EVENTS; STUDENT PRODUCTIONS HOSTED IN PARTNERSHIP WITH THE TRIANGLE CLUB AND LEWIS CENTER FOR THE ARTS AT PRINCETON UNIVERSITY; AND EDUCATION CLASSES AND STUDENT MATINEES.THE THEATRE SERIES INCLUDED THE WORLD-PREMIERE EMPIRE RECORDS: THE MUSICAL WITH ROCK SCORE BY ZOE SARNAK AND BOOK BY CAROL HEIKKINEN, DUEL REALITY FROM ACCLAIMED CIRQUE COMPANY THE 7 FINGERS, 2024 PULITZER PRIZE FINALIST FOR DRAMA HERE THERE ARE BLUEBERRIES FROM MOISES KAUFMAN AND THE TECTONIC THEATER PROJECT, KAREN ZACARIAS'S LEGACY OF LIGHT DIRECTED BY MCCARTER'S ARTISTIC DIRECTOR SARAH RASMUSSEN, THE 2024 PULITZER PRIZE FOR DRAMA PRIMARY TRUST BY EBONI BOOTH, AND THE ANNUAL HOLIDAY CLASSIC A CHRISTMAS CAROL. THE DANCE, CLASSICAL, AND SIGNATURE SERIES PRESENTED 45 EVENTS INCLUDING CONCERTS BY RENOWNED CELLIST YO-YO MA AND GRAMMY WINNER NATALIA LAFOURCADE; EVENINGS WITH TELEVISION HOST AND COMEDIAN ROY WOOD, JR. AND NEW YORK TIMES BEST-SELLING AUTHOR ANDY BOROWITZ; DANCE PERFORMANCES FROM SEOUL-BASED BEREISHIT DANCE COMPANY AND THE TWYLA THARP DANCE (CELEBRATING 60TH ANNIVERSARY); AND FAMILY PROGRAMMING INCLUDING "QUEEN OF KIDS' MUSIC" LAURIE BERKNER.MCCARTER'S YEAR-ROUND EDUCATION CLASSES WELCOME THEATER NEWCOMERS AND SEASONED PERFORMERS, OFFERING AN ARRAY OF IN-PERSON CLASSES FOR STUDENTS GRADES K-12 AND FOR ADULTS. EACH CLASS FOSTERS A SUPPORTIVE AND CREATIVE ENVIRONMENT WHERE EVERY STUDENT IS FREE TO EXPLORE, PLAY, AND DEVELOP THEIR UNIQUE ARTISTIC VOICE.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,957,926
Program Service Revenue $7,641,235
Investment Income $2,038,670
Other Revenue $82,428
TOTAL REVENUE $14,720,259

Expense Breakdown

Grants Paid $0
Salaries & Benefits $8,711,760
Fundraising Expenses $1,021,802
Program Expenses $12,897,357
Other Expenses $6,743,113
TOTAL EXPENSES $15,454,873

Year-over-Year Comparison

2024 2023 Change
Revenue $14,720,259 $13,907,448 +0.1%
Expenses $15,454,873 $14,568,107 +0.1%
Net Income $-734,614 $-660,659 +0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
26
Independent Members
26
Employees
235
Volunteers
26

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
11
$828,650
Total Directors
28
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DANIELA BONAFEDE-CHHABRA PRESIDENT 10.00
Officer Director
$0 $0 $0
ASHLEY AITKEN-DAVIES VICE-PRESIDENT 2.00
Officer Director
$0 $0 $0
NEHA DESAI SHAH VICE-PRESIDENT 2.00
Officer Director
$0 $0 $0
BEN HAMMOND VICE-PRESIDENT 2.00
Officer Director
$0 $0 $0
JAMES P HERRING VICE-PRESIDENT 2.00
Officer Director
$0 $0 $0
ELLIOT ASARNOW TREASURER 2.00
Officer Director
$0 $0 $0
RITA MCGRATH SECRETARY 2.00
Officer Director
$0 $0 $0
RHONDA ADAMS-MEDINA TRUSTEE 1.00
Director
$0 $0 $0
JAMES BARROOD TRUSTEE 1.00
Director
$0 $0 $0
CLAUDINA BONETTI TRUSTEE 1.00
Director
$0 $0 $0
CARMELO CINTRON TRUSTEE 1.00
Director
$0 $0 $0
JOHN CLARKE TRUSTEE (THRU 1/25) 1.00
Director
$0 $0 $0
ANDREW FARRIS TRUSTEE 1.00
Director
$0 $0 $0
BONNIE GUTH TRUSTEE 1.00
Director
$0 $0 $0
ERIC HAGIN TRUSTEE 1.00
Director
$0 $0 $0
ELIZABETH MCNEILLY TRUSTEE 1.00
Director
$0 $0 $0
ROHIT MEHROTRA TRUSTEE 1.00
Director
$0 $0 $0
ROBERT A MINTZ TRUSTEE (THRU 6/25) 1.00
Director
$0 $0 $0
AQUATIA L OWENS TRUSTEE 1.00
Director
$0 $0 $0
DOUGLAS PALMER TRUSTEE (THRU 6/25) 1.00
Director
$0 $0 $0
PAMELA PRUITT TRUSTEE 1.00
Director
$0 $0 $0
RICHARD QUINN TRUSTEE 1.00
Director
$0 $0 $0
W ROCHELLE CALHOUN TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL ROSE TRUSTEE 1.00
Director
$0 $0 $0
KIM SWANN TRUSTEE 1.00
Director
$0 $0 $0
MARK THIERFELDER TRUSTEE (THRU 1/25) 1.00
Director
$0 $0 $0
JESSE TREU TRUSTEE 1.00
Director
$0 $0 $0
DAVID WALKER TRUSTEE 1.00
Director
$0 $0 $0
SARAH RASMUSSEN ARTISTIC DIRECTOR 40.00
Officer
$328,439 $50,931 $379,370
MARTIN MILLER EXECUTIVE DIRECTOR 40.00
Officer
$335,966 $17,552 $353,518
SUDHA IYER CFO (THRU 9/24) 40.00
Officer
$84,911 $10,851 $95,762
TONI MARIE DAVIS DIRECTOR OF FINANCE (FROM 1/25) 40.00
Officer
$0 $0 $0
JOE PEACOCK DIRECTOR OF DEVELOPMENT 40.00
Highest
$145,064 $12,973 $158,037
KELLY RYMAN DIRECTOR OF MKTG & AUDIENCE STRATEGY 40.00
Highest
$145,049 $31,443 $176,492
PAULA ABREU DIRECTOR OF PRESENTED PROGRAMMING 40.00
Highest
$141,110 $31,923 $173,033
DEBBIE BISNO DIRECTOR OF UNIVERSITY & ARTISTIC PARTNERSHIPS 40.00
Highest
$138,160 $17,199 $155,359
DIXIE UFFELMAN DIRECTOR OF PRODUCTION 40.00
Highest
$118,993 $32,101 $151,094
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
2025 $14,720,259 $15,454,873 $36,094,924 $-734,614
2024 No data No data No data No data
2023 $9,197,183 $13,817,604 $37,715,976 $-4,620,421
2022 $14,338,092 $11,363,913 $43,142,569 $2,974,179
2021 $7,589,397 $5,031,427 $42,200,271 $2,557,970
2020 $11,621,825 $11,861,824 $28,336,036 $-239,999
2019 $12,229,189 $13,174,085 $30,224,958 $-944,896
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