Free Street Theater

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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

Caroline OBoyle

Phone

7737727248

Tax Period

2024-09-01 to 2025-08-31

Free Street Theater, founded in 1969, is a small nonprofit that reported $515K in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $438K left a modest 15% surplus.

Mission

Free Street Theater creates afforable, inclusive and innovative theater in communities across Chicago Seeking new and effective ways to challenge racial and economic segregation through the arts.

Program Service Accomplishments

Program 1

Expenses: $127,028 Revenue: $6,065

Theater: The Organization works with people across Chicago to create an original ensemble performance that tells the complicated stories of the City. The Organization creates 6-8 shows per year that are performed in Pulaski Park, Back Of The Yards, public parks And community centers. These shows are made by resident ensembles or artists-in-residence through the in-house program.

Program 2

Expenses: $97,275 Revenue: $5,300

Community Engagement: The Organization offers a wide range of workshops, classes and training for people of all ages to develop their skills as artists and change-makers. The Organization offers...

Community Engagement: The Organization offers a wide range of workshops, classes and training for people of all ages to develop their skills as artists and change-makers. The Organization offers these workshops for free at community centers or in homes in Pulaski Park and Back Of The Yards. Located at 43rd and Ashland in Chicago, the Organization offers its Storyfront as a hub for performance, cultural events and community storytelling. The Organization also specializes in bringing people together to discuss difficult issues in fun, complicated and deeply human ways through Free Street Talk.

Program 3

Expenses: $89,911

Arts Education: The Organization trains youth ages 5-24 in writing, acting, ensemble and critical thinking skills. The Organization has two resident youth ensembles and operates a park program for...

Arts Education: The Organization trains youth ages 5-24 in writing, acting, ensemble and critical thinking skills. The Organization has two resident youth ensembles and operates a park program for kids ages 5-12 at Pulaski Park.

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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 $505,134

Program Service Revenue $11,365

Investment Income $0

Other Revenue $-1,566

TOTAL REVENUE $514,933

Expense Breakdown

Grants Paid $0

Salaries & Benefits $230,743

Fundraising Expenses $72,195

Program Expenses $314,214

Other Expenses $207,329

TOTAL EXPENSES $438,072

Year-over-Year Comparison

	2024	2023	Change
Revenue	$514,933	$434,319	+0.2%
Expenses	$438,072	$444,227	0.0%
Net Income	$76,861	$-9,908	-8.8%

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

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

$67,853

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Katrina Dion	Executive Dir.	40.00	Officer	$67,853	$0	$67,853
Caroline OBoyle	President	2.00	Officer Director	$0	$0	$0
Lillian Gorman	Secretary	2.00	Officer Director	$0	$0	$0
Tricia Hersey	Director	1.00	Director	$0	$0	$0
Aaron Aptaker	Director	1.00	Director	$0	$0	$0
Jacob Coz	Director	1.00	Director	$0	$0	$0
Devin Childs	Director	1.00	Director	$0	$0	$0
Nina DAngier	Director	1.00	Director	$0	$0	$0
Taria Abram	Director	1.00	Director	$0	$0	$0
Kevin King	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	$514,933	$438,072	$547,844	$76,861
2024	$434,319	$444,227	$404,356	$-9,908
2023	$350,638	$347,125	$416,093	$3,513
2022	$483,236	$474,398	$402,748	$8,838
2021	$400,011	$334,316	$398,700	$65,695
2020	$304,162	$322,117	$331,947	$-17,955
2019	$518,793	$353,552	$341,556	$165,241