Paper Mill Playhouse (EIN 221550515) - 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

1938

Legal Domicile

Principal Officer

MICHAEL STOTTS

Phone

9733793636

Tax Period

2024-07-01 to 2025-06-30

Paper Mill Playhouse, founded in 1938, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $31.4M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $28.2M left a modest 10% surplus.

Mission

Paper Mill Playhouse brings its audiences the best in musical theatre, from celebrated revivals to groundbreaking new works. See SCHEDULE O.

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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 $8,998,240

Program Service Revenue $20,225,210

Investment Income $1,845,798

Other Revenue $287,167

TOTAL REVENUE $31,356,415

Expense Breakdown

Grants Paid $9,500

Salaries & Benefits $16,084,408

Fundraising Expenses $2,267,408

Program Expenses $22,948,273

Other Expenses $11,879,161

TOTAL EXPENSES $28,173,069

Year-over-Year Comparison

	2024	2023	Change
Revenue	$31,356,415	$28,554,805	+0.1%
Expenses	$28,173,069	$29,887,431	-0.1%
Net Income	$3,183,346	$-1,332,626	-3.4%

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

881

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

$767,093

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL STOTTS	EXECUTIVE DIRECTOR	40.0	Officer	$360,537	$23,912	$384,449
MARK S HOEBEE	Artistic Director	40.0	Officer	$374,619	$8,025	$382,644
LAURA GREEN	DIRECTOR OF PRODUCTION	40.0	Highest	$160,562	$23,580	$184,142
Cody A Andrus	DirECTOR of Marketing	40.0	Highest	$138,711	$37,197	$175,908
JOSHUA COHEN	DIRECTOR OF FINANCE	40.0	Highest	$139,191	$30,657	$169,848
ANDREW KAWCZYNSKI	HEAD ELECTRICIAN	40.0	Highest	$140,324	$26,963	$167,287
THOMAS BRENNAN	MASTER CARPENTER	40.0	Highest	$138,365	$23,764	$162,129
CAROLYN FEROLITO	Chair	3.0	Officer Director	$0	$0	$0
TED BOURKE	Vice-Chair	3.0	Officer Director	$0	$0	$0
HOWARD HIRSCH	Vice-Chair	3.0	Officer Director	$0	$0	$0
DEBORAH KENNEDY	Vice-Chair	3.0	Officer Director	$0	$0	$0
Glenn Yarnis	Secretary	3.0	Officer Director	$0	$0	$0
Joan Palermo	Treasurer	3.0	Officer Director	$0	$0	$0
Howard Albert	BOARD MEMBER	1.0	Director	$0	$0	$0
BOB ALLISON	BOARD MEMBER	1.0	Director	$0	$0	$0
AUDREY BARTNER	board Member	1.0	Director	$0	$0	$0
RUTHI BYRNE	Board Member	1.0	Director	$0	$0	$0
ROBERT CLARKE	Board Member	1.0	Director	$0	$0	$0
CUONG DO	BOARD MEMBER	1.0	Director	$0	$0	$0
JAMES FAKULT	Board Member	1.0	Director	$0	$0	$0
JANE HIGGINS	BOARD MEMBER	1.0	Director	$0	$0	$0
Josh Jacobstein	BOARD MEMBER	1.0	Director	$0	$0	$0
DALE LAZAROVITCH	BOARD MEMBER	1.0	Director	$0	$0	$0
ALEXANDER MCDONALD	BOARD MEMBER	1.0	Director	$0	$0	$0
IAN MOUNT	BOARD MEMBER	1.0	Director	$0	$0	$0
NUNO RODRIGUES	BOARD MEMBER	1.0	Director	$0	$0	$0
RITA SALLIS	BOARD MEMBER	1.0	Director	$0	$0	$0
Maida Tansey	Board Member	1.0	Director	$0	$0	$0
ELSA THOMAS	BOARD MEMBER	1.0	Director	$0	$0	$0
Beth Vartuli	BOARD MEMBER	1.0	Director	$0	$0	$0
Lana Gold Walder	BOARD MEMBER	1.0	Director	$0	$0	$0
Nancy Weeks	BOARD MEMBER	1.0	Director	$0	$0	$0
Matthew Wilcox	Board Member	1.0	Director	$0	$0	$0
Kevin Worley	Board Member	1.0	Director	$0	$0	$0
Paula Alston	Board Member	1.0	Director	$0	$0	$0
Sofia Cocoziello	Board Member	1.0	Director	$0	$0	$0
Rick Davis	Board Member	1.0	Director	$0	$0	$0
Meghan Farley-Astrachan	Board Member	1.0	Director	$0	$0	$0
Christian Giordano	Board Member	1.0	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
2025	$31,356,415	$28,173,069	$60,409,575	$3,183,346
2024	$28,554,805	$29,887,431	$54,148,559	$-1,332,626
2023	$32,536,218	$31,724,303	$53,443,307	$811,915
2022	$43,681,310	$19,532,770	$40,080,075	$24,148,540
2021	$8,770,993	$6,806,559	$20,009,816	$1,964,434
2020	$16,157,800	$17,490,705	$17,732,014	$-1,332,905
2019	$21,161,654	$19,360,109	$19,298,883	$1,801,545
2018	$21,982,734	$19,808,043	$16,695,441	$2,174,691

Paper Mill Playhouse