THEATRE NOVA

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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

2014

Legal Domicile

Principal Officer

Rebecca Fox

Phone

7346358450

Tax Period

2023-01-01 to 2023-12-31

THEATRE NOVA, founded in 2014, is a small nonprofit in the Arts, Culture & Humanities sector that reported $266K in total revenue in fiscal year 2023. Revenue surged 47% from the prior year, signaling strong growth momentum.

Mission

Theatre NOVA is dedicated to raising awareness of the value and excitement of new plays and new playwrights in a diverse and expanding audience: and providing resources and outlets for playwrights to develop their craft, by importing, exporting, and developing new plays and playwrights.

Program Service Accomplishments

Program 1

Expenses: $21,663 Revenue: $21,553

Children's theatre classes partnering with The Ann Arbor public schools Community Education and Recreation. Four summer camps and three after-school classes with a combined student count of 225

Program 2

Expenses: $221,512 Revenue: $78,075

Produced 6 in-house productions. Language Archive by Julia Cho was performed 15 times with an combined audience of 567, Splattered by Hal Davis and Carla Milarch a World Premiere was performed 15...

Produced 6 in-house productions. Language Archive by Julia Cho was performed 15 times with an combined audience of 567, Splattered by Hal Davis and Carla Milarch a World Premiere was performed 15 times with a combined audience of 418, Arabic To English by David Wells a World Premiere was performed 15 times with a combined audience of 464, Milima's Tale by Lynn Nottage was performed 15 times with a combined audience of 432 What The Constitution Means To Me by Heidi Schreck was performed 15 times with a combined audience of 715 The Year Without a Panto Claus by Carla Milarch and R. Mackenzie Lewis was performed 15 times with a combined audience of 637.

Program 3

Expenses: $12,607 Revenue: $20,000

Produced Pants by Carla Milarch, a summer touring show

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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 $109,106

Program Service Revenue $139,238

Investment Income $17,808

Other Revenue $0

TOTAL REVENUE $266,152

Expense Breakdown

Grants Paid $0

Salaries & Benefits $69,643

Fundraising Expenses $6,231

Program Expenses $255,782

Other Expenses $201,502

TOTAL EXPENSES $271,145

Year-over-Year Comparison

	2023	2022	Change
Revenue	$266,152	$180,843	+0.5%
Expenses	$271,145	$270,458	+0.0%
Net Income	$-4,993	$-89,615	-0.9%

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

N/A

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

$58,031

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Carla Milarch	President	45	Officer Highest	$39,658	$0	$39,658
David Wolber	Board Member	10	Officer	$14,500	$0	$14,500
Philip Powers	Secretary	2	Officer	$2,523	$0	$2,523
Rebecca Fox	treasurer	5	Officer	$1,350	$0	$1,350
Catherine Zudak	Board Member	0.5	Officer	$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	$266,152	$271,145	$38,574	$-4,993
2022	$180,843	$270,458	$42,305	$-89,615
2021	$207,386	$148,678	$134,285	$58,708