Torn Space Theater Inc

EIN: 331159716 501(c)(3) Arts, Culture & Humanities

Buffalo, NY

Total Revenue
$984,781
Total Expenses
$417,275
Total Assets
$3,911,009
Net Assets
$3,772,277
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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
2005
Legal Domicile
NY
Principal Officer
SEAN MORROW
Phone
7164651023
Tax Period
2025-01-01 to 2025-12-31

Torn Space Theater Inc, founded in 2005, is a small nonprofit in the Arts, Culture & Humanities sector that reported $985K in total revenue in fiscal year 2025. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $568K, a strong 58% operating margin.

Mission

None

Program Service Accomplishments

Program 1
Expenses: $254,721 Revenue: $56,022

TO CREATE ORIGINAL, AESTHETICALLY INNOVATIVE PERFORMANCES; TO INTRODUCE INTERNATIONALLY-RENOWED, CONTEMPORARY PERFORMANCES TO WESTERN NEW YORK; AND TO CULTIVATE THE COLLABORATION OF ACTORS...

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TO CREATE ORIGINAL, AESTHETICALLY INNOVATIVE PERFORMANCES; TO INTRODUCE INTERNATIONALLY-RENOWED, CONTEMPORARY PERFORMANCES TO WESTERN NEW YORK; AND TO CULTIVATE THE COLLABORATION OF ACTORS, COMPOSERS, SCULPTORS, VIDEO ARTISTS AND DESIGNERS WITHIN OUR PRODUCTIONS.

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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%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $928,759
Program Service Revenue $36,865
Investment Income $7,202
Other Revenue $11,955
TOTAL REVENUE $984,781

Expense Breakdown

Grants Paid $0
Salaries & Benefits $107,515
Fundraising Expenses $0
Program Expenses $254,721
Other Expenses $309,760
TOTAL EXPENSES $417,275

Year-over-Year Comparison

2025 2024 Change
Revenue $984,781 $853,587 +0.2%
Expenses $417,275 $354,680 +0.2%
Net Income $567,506 $498,907 +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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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

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Governance

Voting Members
14
Independent Members
14
Employees
5
Volunteers
N/A

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
6
$85,200
Total Directors
14
$85,200
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHELLE WATOREK PRESIDENT 1.00
Officer Director
$0 $0 $0
DANIEL MONTANTE VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
NICHOLAS RANDELL SECRETARY 1.00
Officer Director
$0 $0 $0
SEAN MORROW TREASURER 1.00
Officer Director
$0 $0 $0
MICHAEL BANDINI DIRECTOR 1.00
Director
$0 $0 $0
DANIEL CAROSA DIRECTOR 1.00
Director
$0 $0 $0
JOHN KOLGA DIRECTOR 1.00
Director
$0 $0 $0
DAN SHANAHAN ARTISTIC DIRECTOR 20.00
Officer Director
$62,750 $0 $62,750
MELISSA MEOLA ASSOCIATE DIRECTOR 10.00
Officer Director
$22,450 $0 $22,450
CARMEN SWANS DIRECTOR 1.00
Director
$0 $0 $0
JEANNINE YAGER-AIELLO DIRECTOR 1.00
Director
$0 $0 $0
RENATA TONEY DIRECTOR 1.00
Director
$0 $0 $0
THOMAS HYDE DIRECTOR 1.00
Director
$0 $0 $0
DON ELICK DIRECTOR 1.00
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 $984,781 $417,275 $3,911,009 $567,506
2024 $853,587 $354,680 $3,213,298 $498,907
2023 $959,047 $362,977 $2,715,244 $596,070
2022 $315,532 $417,984 $2,131,851 $-102,452
2021 $1,114,691 $389,887 $2,212,247 $724,804
2019 $529,461 $358,358 $1,480,951 $171,103
2018 $1,074,489 $325,307 $1,319,920 $749,182
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