WALNUT STREET THEATRE CORPORATION (EIN 231715152) - 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

1969

Legal Domicile

Principal Officer

BERNARD HAVARD

Phone

2155743550

Tax Period

2024-07-01 to 2025-06-30

WALNUT STREET THEATRE CORPORATION, founded in 1969, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $18.6M in total revenue in fiscal year 2024. Revenue surged 37% from the prior year, signaling strong growth momentum. Expenses of $16.0M left a modest 14% surplus.

Mission

TO SUSTAIN THE TRADITION OF PROFESSIONAL THEATRE AND CONTRIBUTE TO ITS FUTURE VIABILITY... AND VITALITY.

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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 $5,590,831

Program Service Revenue $11,227,449

Investment Income $950,503

Other Revenue $867,536

TOTAL REVENUE $18,636,319

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,206,023

Fundraising Expenses $697,528

Program Expenses $12,156,496

Other Expenses $6,800,046

TOTAL EXPENSES $16,006,069

Year-over-Year Comparison

	2024	2023	Change
Revenue	$18,636,319	$13,588,373	+0.4%
Expenses	$16,006,069	$15,072,712	+0.1%
Net Income	$2,630,250	$-1,484,339	-2.8%

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

322

Volunteers

350

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

$1,385,982

Total Directors

$841,556

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BERNARD HAVARD	PRESIDENT & PRODUCING ARTISTIC DIR	60.00	Officer Director	$838,171	$3,385	$841,556
FRANCIS MIRABELLO	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
PATRICK MULLEN	VICE CHAIR & SECRETARY	2.00	Officer Director	$0	$0	$0
ROBERT L B HARMAN	TREASURER/CHAIR FINANCE COMMITTEE	2.00	Officer Director	$0	$0	$0
JOHN D GRAHAM	CHAIRMAN EMERITUS	2.00	Officer Director	$0	$0	$0
LOUIS W FRYMAN	CHAIRMAN EMERITUS	2.00	Officer Director	$0	$0	$0
MATTHEW GARFIELD	CHAIRMAN EMERITUS	2.00	Officer Director	$0	$0	$0
SCOTT RANKIN	IMMEDIATE PAST CHAIR	2.00	Officer Director	$0	$0	$0
JEFFREY FERRO	CHAIR AUDIT COMMITTEE	2.00	Director	$0	$0	$0
JOHN FIDLER	BOARD MEMBER (THRU APR 2025)	2.00	Director	$0	$0	$0
JACK R GARFINKLE	BOARD MEMBER	2.00	Director	$0	$0	$0
MELITA J JORDAN	BOARD MEMBER	2.00	Director	$0	$0	$0
TANYA RULEY-MAYO	BOARD MEMBER	2.00	Director	$0	$0	$0
RICHARD A MITCHELL	CHAIR INVESTMENT COMMITTEE	2.00	Director	$0	$0	$0
JENNIFER MERVES ROBBINS	BOARD MEMBER	2.00	Director	$0	$0	$0
GENE SCHRIVER	BOARD MEMBER	2.00	Director	$0	$0	$0
DANIEL J SCHULLER	BOARD MEMBER	2.00	Director	$0	$0	$0
JAMES D SCULLY JR	BOARD MEMBER	2.00	Director	$0	$0	$0
ELLEN TOBIE	BOARD MEMBER	2.00	Director	$0	$0	$0
JOSEPH VILLANI	BOARD MEMBER	2.00	Director	$0	$0	$0
DAVID WYHER	BOARD MEMBER	2.00	Director	$0	$0	$0
MARK SYLVESTER	MANAGING DIRECTOR	60.00	Officer	$526,128	$18,298	$544,426
STEPHEN RAPP	DIRECTOR OF MARKETING & PR	60.00	Highest	$326,116	$12,319	$338,435
SIOBHAN RUANE	DIRECTOR OF PRODUCTION	60.00	Highest	$191,000	$10,520	$201,520
TJ SOKSO	DIRECTOR OF EDUCATION	60.00	Highest	$154,000	$29,247	$183,247
MICHAEL ARMENTO	CONTROLLER	60.00	Highest	$145,500	$36,954	$182,454
JEFFREY COON	DIRECTOR OF DEVELOPMENT	60.00	Highest	$157,000	$12,589	$169,589

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	$18,636,319	$16,006,069	$32,816,546	$2,630,250
2024	No data	No data	No data	No data
2023	$10,055,224	$13,733,161	$32,066,353	$-3,677,937
2022	$14,927,015	$12,355,034	$36,002,708	$2,571,981
2021	$7,380,897	$4,688,298	$35,930,137	$2,692,599
2020	$12,756,429	$12,373,305	$34,512,054	$383,124
2019	$26,516,023	$17,072,983	$32,653,231	$9,443,040
2018	$17,056,850	$16,611,917	$24,488,214	$444,933

WALNUT STREET THEATRE CORPORATION