THE LEGACY THEATRE 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

2011

Legal Domicile

Principal Officer

JOHN L WILLIAMS

Phone

2032085504

Tax Period

2024-01-01 to 2024-12-31

THE LEGACY THEATRE INC, founded in 2011, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.1M in total revenue in fiscal year 2024. Revenue decreased 18% compared to the prior year. Expenses of $1.9M left a modest 8% surplus.

Mission

THE LEGACY THEATRE IS A PROFESSIONAL THEATER COMPANY THAT ENHANCES THE CONNECTICUT SHORELINE'S ECONOMY, EDUCATIONAL OPPORTUNITIES AND QUALITY OF LIFE THROUGH LIVE THEATER AND RELATED PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $1,156,139 Revenue: $422,191

WE HAD A TREMENDOUS 2024 SEASON OF PERFORMANCES AND EVENTS. THERE WERE 11,394 TICKETS SOLD, WE HOSTED 118 TICKETED EVENTS, HAD AUDIENCES FROM 34 STATES AND 5 COUNTRIES. THE SEASON HIGHLIGHTS INCLUDE FOUR MAIN STAGE PRODUCTIONS, SIX FAMILY SERIES PRODUCTIONS, SEVEN SUNDAY BROADWAY CONCERT SERIES PERFORMANCES, A HOLIDAY SHOW AND MANY OTHER PERFOMANCES, PRODUCTIONS AND EVENTS. OUR THEATER GAINED MUCH ATTENTION IN 2024 WHEN THE WELL KNOWN DAME JULIE ANDREWS DIRECTED ONE OF OUR MAIN STAGE PERFORMANCES WHICH BROUGHT IN RAVE REVIEWS.

Program 2

Expenses: $26,617 Revenue: $29,963

WE HELD VARIOUS EDUCATIONAL PROGRAMS IN 2024. THESE PROGRAMS INCLUDE EDUCATIONAL PARTNERSHIPS WITH SURROUNDING ORGANIZATIONS AND TOWNS AND INCLUDE INDIVIDUALS OF AGE GROUPS RANGING FROM TODDLERS TO SENIOR CITIZENS. WE HOSTED CLASSES, WORKSHOPS, INTENSIVES, CONSERVATORY PROGRAMS AND CLASS FIELD TRIPS. WE ALSO HELD PROGRAMS FOR OUR WHEEL LIFE THEATRE TROUPE WHICH ALLOWS PEOPLE WHO AMBULATE WITH CRUTCHES OR WHEELCHAIRS TO PARTICIPATE IN EDUCATIONAL THEATRE PROGRAMS.

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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 $1,601,001

Program Service Revenue $451,709

Investment Income $-29

Other Revenue $20,712

TOTAL REVENUE $2,073,393

Expense Breakdown

Grants Paid $0

Salaries & Benefits $704,115

Fundraising Expenses $185,168

Program Expenses $1,182,756

Other Expenses $1,204,765

TOTAL EXPENSES $1,911,730

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,073,393	$2,529,950	-0.2%
Expenses	$1,911,730	$1,709,133	+0.1%
Net Income	$161,663	$820,817	-0.8%

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

$3,402

Total Directors

$89,274

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHANIE WILLIAMS	PRESIDENT	10.00	Officer Director	$3,402	$0	$3,402
JANA SHEA	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
JOHN L WILLIAMS	TREASURER	5.00	Officer Director	$0	$0	$0
TOM SHEA	TRUSTEE	3.00	Director	$0	$0	$0
KATINA GIONTERIS	SECRETARY	5.00	Officer Director	$0	$0	$0
DAMIAN DORIA	TRUSTEE	5.00	Director	$0	$0	$0
BRIAN KNUDSEN	TRUSTEE	5.00	Director	$0	$0	$0
CHARLES GRADY	TRUSTEE	3.00	Director	$0	$0	$0
KEELY KNUDSEN	EX-OFFICIO, ARTISTIC DIREC	40.00	Director	$85,336	$0	$85,336
SONJA LABARBERA	TRUSTEE	5.00	Director	$0	$0	$0
MARY PEPE	TRUSTEE	3.00	Director	$0	$0	$0
JAMES RODAY RODRIGUEZ	TRUSTEE	3.00	Director	$536	$0	$536
JEFFRY PROVOST	FORMER EX-OFFICIO, MD	40.00		$119,500	$0	$119,500

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
2024	$2,073,393	$1,911,730	$4,949,418	$161,663
2023	$2,529,950	$1,709,133	$5,278,545	$820,817
2022	$1,200,356	$1,514,979	$5,608,178	$-314,623
2021	$1,296,962	$1,020,675	$5,919,572	$276,287
2020	$211,426	$185,818	$4,637,379	$25,608
2020	$150,844	$221,751	$2,545,854	$-70,907
2019	$1,228,117	$231,028	$1,682,063	$997,089