FRIENDS OF THE STRAND THEATRE INC (EIN 463330177) - Form 990 Financial Analysis & Trantor Score

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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

2013

Legal Domicile

Principal Officer

ELLEN SEIDMAN

Phone

2075940070

Tax Period

2022-07-01 to 2023-06-30

FRIENDS OF THE STRAND THEATRE INC, founded in 2013, is a small nonprofit in the Arts, Culture & Humanities sector that reported $775K in total revenue in fiscal year 2022. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $1.0M exceeded revenue, resulting in a 35% operating deficit.

Mission

THE PRIMARY PURPOSE OF THE CORPORATION IS TO OWN AND OPERATE THE STRAND THEATER IN ROCKLAND MAINE FOR EDUCATIONAL PURPOSES. THE ORGANIZATION WILL: MAKE AVAILABLE CULTURAL AND CREATIVE EVENTS AND TRADITIONAL THEATER; PROMOTE AND ADVANCE SHARED CULTURAL AND CREATIVE EXPERIENCES IN THE COMMUNITY; ENHANCE THE QUALITY OF LIFE BY PRESERVING AND MAINTAINING THE STRAND THEATRE AS A HISTORIC AND VALUABLE COMMUNITY ASSET; AND ENGAGE IN ANY OTHER LAWFUL ACTIVITY THAT MAY BE AUTHORIZED BY THE BOARD OF DIRECTORS THAT IS CONSISTENT WITH SECTION 501(C)(3).

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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 (2022)

Revenue Breakdown

Contributions & Grants $388,661

Program Service Revenue $281,626

Investment Income $23,400

Other Revenue $80,921

TOTAL REVENUE $774,608

Expense Breakdown

Grants Paid $0

Salaries & Benefits $505,653

Fundraising Expenses $100,870

Program Expenses $821,984

Other Expenses $536,658

TOTAL EXPENSES $1,042,311

Year-over-Year Comparison

	2022	2021	Change
Revenue	$774,608	$991,989	-0.2%
Expenses	$1,042,311	$780,773	+0.3%
Net Income	$-267,703	$211,216	-2.3%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELLEN SEIDMAN	PRESIDENT	4.00	Officer Director	$0	$0	$0
NORMAN THOMAS	SECRETARY	2.00	Officer Director	$0	$0	$0
CANDACE VANCKO	TREASURER	2.00	Officer Director	$0	$0	$0
ROY HITCHINGS JR	DIRECTOR	0.50	Officer Director	$0	$0	$0
JOHN BIRD	DIRECTOR	0.50	Director	$0	$0	$0
JO DONDIS	DIRECTOR	2.00	Director	$0	$0	$0
JOANNE BILLINGTON	DIRECTOR	2.00	Director	$0	$0	$0
ARIEL HALL	DIRECTOR	0.50	Director	$0	$0	$0
ELYSA ROSE COSTER	DIRECTOR	0.50	Director	$0	$0	$0
WILLIAM BLACK	DIRECTOR	0.50	Director	$0	$0	$0
ELISSE WALTER	DIRECTOR	0.50	Director	$0	$0	$0
ABBY WALKER	DIRECTOR	0.50	Director	$0	$0	$0
ALICIA MALONE	DIRECTOR	0.50	Director	$0	$0	$0
WALTER REITZ	DIRECTOR	0.50	Director	$0	$0	$0
LYNN DONDIS	DIRECTOR	0.50	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$774,608	$1,042,311	$782,450	$-267,703
2023	$774,608	$1,042,311	$782,450	$-267,703
2022	$991,989	$780,773	$1,047,643	$211,216
2021	$673,632	$480,311	$942,530	$193,321
2020	$941,611	$746,039	$697,095	$195,572
2019	$782,787	$814,500	$541,102	$-31,713
2018	$739,496	$776,291	$531,663	$-36,795

FRIENDS OF THE STRAND THEATRE INC