PENUMBRA THEATRE COMPANY INC

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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

1986

Legal Domicile

Principal Officer

AMY THOMAS

Phone

6512886780

Tax Period

2024-07-01 to 2025-06-30

PENUMBRA THEATRE COMPANY INC, founded in 1986, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.0M in total revenue in fiscal year 2024. Expenses of $3.3M exceeded revenue, resulting in a 62% operating deficit.

Mission

PENUMBRA THEATRE COMPANY CREATES PROFESSIONAL PRODUCTIONS THAT ARE ARTISTICALLY EXCELLENT, THOUGHT PROVOKING, RELEVANT AND THAT ILLUMINATE THE HUMAN CONDITION THROUGH THE PRISM OF THE AFRICAN AMERICAN EXPERIENCE. TODAY, PENUMBRA IS EVOLVING INTO A CENTER FOR RACIAL HEALING. THE PENUMBRA OF THE FUTURE IS A DYNAMIC PERFORMING ARTS, RETREAT, AND LEARNING CENTER DEVELOPING NEW WORK, IDEAS, AND SUSTAINABLE STRATEGIES FOR SOCIAL CHANGE. BUILDING UPON ITS HISTORY, PENUMBRA WILL OFFER NEW ARTISTIC PROGRAMS, ROBUST EQUITY TRAINING, WELLNESS SERVICES AND YOUTH ENGAGEMENTS.

Program Service Accomplishments

Program 1

Expenses: $1,845,648 Revenue: $296,009

PENUMBRA'S MAINSTAGE SEASON INCLUDED: IN HONOR OF JEAN-MICHEL BASQUIAT, BLACK NATIVITY, PARADISE BLUE, AND WHEN WE WERE FOUND.

Program 2

Expenses: $117,354 Revenue: $146,773

PENUMBRA CONTINUED TO OFFER ITS EQUITY TRAINING SERVICES TO CLIENTS ACROSS THE COUNTRY. PENUMBRA'S EQUITY TRAINING COMBINES EXPERT FACILITATION, A POWERFUL EXPLORATION OF RACE IN AMERICA, MONOLOGUES FROM ARTISTS, AND OPPORTUNITIES FOR PARTICIPANTS TO USE THEATRE AS A WAY TO PROBLEM SOLVE AND MODEL. PENUMBRA ALSO EMBARKED UPON A CURRICULUM DEVELOPMENT PROCESS TO EXPAND ITS EQUITY TRAINING OFFERINGS FOR INDIVIDUALS AND ORGANIZATIONS.

Program 3

Expenses: $518,798

PENUMBRA BEGAN EARLY R&D TO INFORM PILOT WELLNESS SERVICES TESTED IN FY24. PENUMBRA ALSO CREATED CURRICULUM FOR ITS PRIDE PROGRAM FOR YOUTH AGES 2 TO 22.

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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 $1,334,583

Program Service Revenue $442,782

Investment Income $245,618

Other Revenue $9,884

TOTAL REVENUE $2,032,867

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,529,946

Fundraising Expenses $348,651

Program Expenses $2,481,800

Other Expenses $1,680,526

TOTAL EXPENSES $3,287,621

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,032,867	$2,127,399	0.0%
Expenses	$3,287,621	$3,820,105	-0.1%
Net Income	$-1,254,754	$-1,692,706	-0.3%

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

131

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

$296,601

Total Directors

$290,352

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARAH BELLAMY	PRESIDENT	40.00	Officer Director	$140,744	$12,743	$153,487
AMY THOMAS	COO	40.00	Officer	$128,478	$14,636	$143,114
LOU BELLAMY	FOUNDER, ART	10.00	Director	$136,865	$0	$136,865
MELANIE DOUGLAS	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
JEANNINE BEFIDI	FIRST VICE C	1.00	Officer Director	$0	$0	$0
MARK MCLELLAN	SECOND VICE	1.00	Officer Director	$0	$0	$0
JAVONTE ANYABWELE	TREASURER	1.00	Officer Director	$0	$0	$0
MARCUS HILL	SECRETARY	1.00	Officer Director	$0	$0	$0
PAUL ACITO	BOARD MEMBER	1.00	Director	$0	$0	$0
MARCUS FISCHER	BOARD MEMBER	1.00	Director	$0	$0	$0
DUANE JOHNSON	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN MALER	BOARD MEMBER	1.00	Director	$0	$0	$0
LAYLA NOURAEE	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFFREY N SAUNDERS	BOARD MEMBER	1.00	Director	$0	$0	$0
TIM SULLIVAN	BOARD MEMBER	1.00	Director	$0	$0	$0
JOE WALD	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID WELLIVER	BOARD MEMBER	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	$2,032,867	$3,287,621	$7,204,340	$-1,254,754
2024	$2,127,399	$3,820,105	$8,538,243	$-1,692,706
2023	$2,944,062	$3,695,941	$10,287,664	$-751,879
2022	$2,011,961	$2,341,218	$10,977,154	$-329,257
2021	$11,767,246	$1,737,930	$11,072,613	$10,029,316
2020	$2,197,350	$1,986,084	$1,615,672	$211,266
2019	$2,157,189	$2,196,710	$1,011,756	$-39,521
2018	$2,115,636	$2,061,170	$1,800,477	$54,466