The Byrd Theatre Foundation

EIN: 311806232 501(c)(3) Arts, Culture & Humanities

Richmond, VA

Total Revenue
$1,982,695
Total Expenses
$1,437,414
Total Assets
$2,670,570
Net Assets
$1,395,184
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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
VA
Principal Officer
Martin Davenport
Phone
8046485008
Tax Period
2023-07-01 to 2024-06-30

The Byrd Theatre Foundation, founded in 2002, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.0M in total revenue in fiscal year 2023. Revenue surged 106% from the prior year, signaling strong growth momentum. The organization ran a surplus of $545K, a strong 28% operating margin.

Mission

TO PRESERVE THE LANDMARK BYRD THEATRE WHILE PROVIDING UNIQUE EXPERIENCES FOR ALL WITH A VISION TO ESTABLISH THE BYRD THEATRE AS A PREMIER DESTINATION FOR OUR VISITORS TO ENCOUNTER EXCEPTIONAL EXPERIENCES THAT ENGAGE, EDUCATE, MOTIVATE, AND INSPIRE.

Program Service Accomplishments

Program 1
Expenses: $459,049

CAPACITY BUILDING FOR GROWTH:THE FOUNDATION CONTINUES TO EMPLOY A PROFESSIONAL STAFF TO OVERSEE THE DAY-TO-DAY OPERATIONS OF THE THEATRE AND HAS MADE MAJOR STRIDES IN CAPACITY BUILDING. AS OF JUNE...

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CAPACITY BUILDING FOR GROWTH:THE FOUNDATION CONTINUES TO EMPLOY A PROFESSIONAL STAFF TO OVERSEE THE DAY-TO-DAY OPERATIONS OF THE THEATRE AND HAS MADE MAJOR STRIDES IN CAPACITY BUILDING. AS OF JUNE 30, 2024, THE FOUNDATION HAD SEVERAL FULL-TIME EMPLOYEES INCLUDING AN EXECUTIVE DIRECTOR, A GENERAL MANAGER, AND A DIRECTOR OF HISTORIC PRESERVATION AND CHIEF CURATOR, AND MULTIPLE PART-TIME EMPLOYEES TO COVER ACTIVITIES RANGING FROM MANAGING THE THEATRE'S SOCIAL MEDIA TO WORKING FRONT OF HOUSE AND PROJECTION POSITIONS. THE FOUNDATION RAISED AND USED FUNDS FOR THE REPLACEMENT OF AN AGED AND NON-FUNCTIONING HVAC CHILLER SYSTEM.

Program 2
Expenses: $161,306

RESTORATION AND IMPROVEMENTS TO THE THEATRE:LISTED ON THE STATE AND NATIONAL REGISTERS OF HISTORIC LANDMARKS, THE BYRD THEATRE OPENED NINETY-SIX YEARS AGO ON DECEMBER 24, 1928. IT HAS REMAINED...

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RESTORATION AND IMPROVEMENTS TO THE THEATRE:LISTED ON THE STATE AND NATIONAL REGISTERS OF HISTORIC LANDMARKS, THE BYRD THEATRE OPENED NINETY-SIX YEARS AGO ON DECEMBER 24, 1928. IT HAS REMAINED OPERATIONAL AND NEARLY UNCHANGED SINCE THE DAY CONSTRUCTION WAS COMPLETED. IN 2011, THE BYRD THEATRE FOUNDATION LAUNCHED A BOLD INITIATIVE TO RAISE THE FIRST $1,800,000 FOR PHASE ONE RESTORATION PROJECTS, MORTGAGE REDUCTION AND CAPACITY BUILDING. SIGNIFICANT ACHIVEMENTS INCLUDED REPLACEMENT OF THE ROOF, REPLACEMENTS OF THE THEATRE'S HEATING AND COOLING SYSTEMS, INSTALLATION OF A DIGITAL SERVER, INSTALLATION OF A NEW STATE-OF-THE-ART 4K PROJECTOR, ONGOING MAINTENANCE AND REPAIRS ON THE MIGHTY WURLITZER ORGRAN. MORE RECENT WORK HAS INCLUDED REPAIR AND RESTORATION OF THE THEATRE'S PLASTERWORK, INSTALLATION OF A POINT-OF-SALE SYSTEM AT THE THEATRE, REPLACEMNET OF THE THEATRE'S CENTER SECTION OF SEATS IN THE MAIN AUDITORIUM, CREATION OF A WHEELCHAIR ACCESSIBLE SEATING AREA AND CONSTRUCTION OF AN ADA FAMILY RESTROOM ON THE FIRST FLOOR OF THE THEATRE. THIS PAST YEAR, THE FOUNDATION RAISED THE NECESSARY FUNDS AND REPLACAED ITS HVAC CHILLER UNIT AS WELL AS INSTALLING A NEW BUILDING AUTOMATION SYSTEM CONTROLS WHICH WILL BE USED TO CONTROL THE HEATING AND COOLING SYSTEM REMOTELY.

Program 3
Expenses: $247,179 Revenue: $581,136

EVOLVING THE BYRD AS A CENTER FOR FILM, FILM LITERACY, AND PROGRAM EXPANSION:THE FOUNDATION HAS WORKED HARD TO EXPAND ITS AUDIENCE REACH. TO ACHIEVE THIS GOAL, THE FOUNDATION HAS PARTNERED WITH...

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EVOLVING THE BYRD AS A CENTER FOR FILM, FILM LITERACY, AND PROGRAM EXPANSION:THE FOUNDATION HAS WORKED HARD TO EXPAND ITS AUDIENCE REACH. TO ACHIEVE THIS GOAL, THE FOUNDATION HAS PARTNERED WITH MULTIPLE FILM FESTIVALS AS THE HOST VENUE, INCLUDING THE RICHMOND INTERNATIONAL FILM FESTIVAL AND THE RICHMOND ANIMATION FESTIVAL. EACH FILM FESTIVAL BRINGS IN HUNDREDS OF PATRONS TO THE THEATRE EACH YEAR. DURING THE PAST YEAR, THE FOUNDATION SUCCESSFULLY COMPLETED A CONTRACT WITH AN ARCHITECTURAL FIRM THAT PRODUCED A MECHANICAL, ENGINEERING, AND PLUMBING REPORT AND A CONCEPT AND FEASIBILITY STUDY, BOTH OF WHICH WILL BE USED TO REHABILITATE THE THEATRE. AND, FINALLY, THE THEATRE HAS CONTINUED TO COLLABORATE WITH THE CARYTOWN MERCHANTS ASSOCIATION TO PROGRAM ACTIVITIES FOR THE COMMUNITY.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,095,582
Program Service Revenue $571,249
Investment Income $6,482
Other Revenue $309,382
TOTAL REVENUE $1,982,695

Expense Breakdown

Grants Paid $0
Salaries & Benefits $695,107
Fundraising Expenses $260,403
Program Expenses $867,534
Other Expenses $742,307
TOTAL EXPENSES $1,437,414

Year-over-Year Comparison

2023 2022 Change
Revenue $1,982,695 $962,885 +1.1%
Expenses $1,437,414 $1,457,125 0.0%
Net Income $545,281 $-494,240 -2.1%
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
19
Independent Members
19
Employees
27
Volunteers
20

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
4
$70,365
Total Directors
19
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Martin Davenport Chair 5.00
Officer Director
$0 $0 $0
Frank Rizzo Vice Chair/Treasurer 5.00
Officer Director
$0 $0 $0
Chris Banta Secretary 2.00
Officer Director
$0 $0 $0
Jeannie Welliver Director 2.00
Director
$0 $0 $0
Robin Ashworth Director 2.00
Director
$0 $0 $0
Dr Keith Miller Director 2.00
Director
$0 $0 $0
James Munsey Director 2.00
Director
$0 $0 $0
Clement Teden Director 2.00
Director
$0 $0 $0
John Spacek Director 2.00
Director
$0 $0 $0
Kevin Brandt Director 2.00
Director
$0 $0 $0
Bob Ulrich Director 2.00
Director
$0 $0 $0
Wayne Dementi Director 2.00
Director
$0 $0 $0
Larry Davis Director 2.00
Director
$0 $0 $0
Dick Luck Director 2.00
Director
$0 $0 $0
Laura Bacon Director 2.00
Director
$0 $0 $0
Lin Lunde Director 2.00
Director
$0 $0 $0
Liz Tyler Director 2.00
Director
$0 $0 $0
Virginia Bertholet Director 2.00
Director
$0 $0 $0
Larry Mills Director 2.00
Director
$0 $0 $0
Ben Cronly Executive Director 40.00
Officer
$68,989 $1,376 $70,365
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 No data No data No data No data
2024 $1,982,695 $1,437,414 $2,670,570 $545,281
2023 $962,885 $1,457,125 $2,094,923 $-494,240
2022 $1,416,918 $1,110,075 $2,615,720 $306,843
2021 $563,364 $640,642 $1,935,860 $-77,278
2020 $676,854 $549,961 $2,157,495 $126,893
2019 $722,736 $244,179 $1,837,940 $478,557
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