THE OCEAN COMMUNITY UNITED THEATRE… - Form 990 Financial Data

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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

BARRY OKUN

Phone

4013152030

Tax Period

2023-01-01 to 2023-12-31

THE OCEAN COMMUNITY UNITED THEATRE INC, founded in 2013, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.3M in total revenue in fiscal year 2023. Expenses of $2.2M left a modest 5% surplus.

Mission

BY UTILIZING HISTORIC THEATRE BUILDINGS IN DOWNTOWN WESTERLY, RI, THE THEATRE PRESENTS AND/OR PRODUCES CULTURALLY SIGNIFICANT WORKS OF LIVE THEATRE, DANCE, MUSIC AND FILM; AS WELL AS PROVIDING EDUCATIONAL PROGRAMS, WORKSHOPS, SYMPOSIA AND LECTURE SERIES EVENTS TO FOSTER AN APPRECIATION FOR THEATER AND CINEMA AS ART FORMS. THE THEATRE PROVIDES LOCAL ARTS ORGANIZATIONS WITH SPACE FOR TEACHING, REHEARSING AND PERFORMING.

Program Service Accomplishments

Program 1

Expenses: $1,332,628 Revenue: $881,977

THE THEATRE PRESENTS AND/OR PRODUCES CULTURALLY SIGNIFICANT WORKS OF LIVE THEATRE, DANCE, MUSIC AND FILM AS A REGIONAL CENTER FOR THE ARTS AND ARTS EDUCATION. THE THEATRE ALSO PROVIDES EDUCATIONAL...

THE THEATRE PRESENTS AND/OR PRODUCES CULTURALLY SIGNIFICANT WORKS OF LIVE THEATRE, DANCE, MUSIC AND FILM AS A REGIONAL CENTER FOR THE ARTS AND ARTS EDUCATION. THE THEATRE ALSO PROVIDES EDUCATIONAL PROGRAMS, WORKSHOPS, SYMPOSIA AND LECTURE SERIES IN FOSTERING AN APPRECIATION FOR THEATER AND CINEMA AS ART FORMS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,319,772

Program Service Revenue $681,884

Investment Income $129,296

Other Revenue $177,791

TOTAL REVENUE $2,308,743

Expense Breakdown

Grants Paid $0

Salaries & Benefits $840,628

Fundraising Expenses $64,515

Program Expenses $1,332,628

Other Expenses $1,354,792

TOTAL EXPENSES $2,195,420

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,308,743	$2,153,940	+0.1%
Expenses	$2,195,420	$2,006,579	+0.1%
Net Income	$113,323	$147,361	-0.2%

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

$126,502

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARMELA LUZZI	DIRECTOR	1.00	Director	$0	$0	$0
CAROLYN GREENSPAN	DIRECTOR	1.00	Director	$0	$0	$0
CHUCK ROYCE	CO-CHAIR	4.00	Officer Director	$0	$0	$0
COLE WILSON	DIRECTOR	1.00	Director	$0	$0	$0
COLLEEN FERGUSON CLARK	VICE CO-CHAIR	1.00	Officer Director	$0	$0	$0
DAN KING	DIRECTOR	1.00	Director	$0	$0	$0
DAVID BEAUCHESNE	DIRECTOR	1.00	Director	$0	$0	$0
DEBORAH LAMM	DIRECTOR	1.00	Director	$0	$0	$0
DONNA SIMMONS	DIRECTOR	1.00	Director	$0	$0	$0
FRED ALLARDYCE	TREASURER	3.00	Officer Director	$0	$0	$0
GERRY GORMAN	DIRECTOR	1.00	Director	$0	$0	$0
HARVEY DEMOVICK	OUTGOING DIRECTOR	1.00	Director	$0	$0	$0
HEIDI C PEARLSON	VICE CO-CHAIR	1.00	Officer Director	$0	$0	$0
HEIDI MCWILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN KELLY	DIRECTOR	1.00	Director	$0	$0	$0
LISA KONICKI	DIRECTOR	1.00	Director	$0	$0	$0
MAUREEN N FITZGERALD	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL MCDONALD	DIRECTOR	1.00	Director	$0	$0	$0
NICHOLAS MOORE	CO-CHAIR	1.00	Officer Director	$0	$0	$0
PATRICIA W CHADWICK	DIRECTOR	1.00	Director	$0	$0	$0
PETER L LEWISS	DIRECTOR	1.00	Director	$0	$0	$0
TOM LIGUORI	SECRETARY	2.00	Officer Director	$0	$0	$0
WILL VOGT	DIRECTOR	1.00	Director	$0	$0	$0
BARRY OKUN	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT MURRAY	DIRECTOR	1.00	Director	$0	$0	$0
CLAUDIA KELLY	DIRECTOR	1.00	Director	$0	$0	$0
CARLY CALLAHAN	EXECUTIVE DIRECTOR	40.00	Officer	$126,502	$0	$126,502

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	No data	No data	No data	No data
2023	$2,308,743	$2,195,420	$17,324,400	$113,323
2022	$2,153,940	$2,006,579	$16,934,392	$147,361
2021	$2,613,717	$994,022	$16,634,005	$1,619,695
2020	$1,569,363	$385,716	$18,493,659	$1,183,647
2019	$5,633,034	$268,739	$14,054,591	$5,364,295
2018	$5,852,350	$166,978	$8,596,107	$5,685,372

THE OCEAN COMMUNITY UNITED THEATRE INC