MUSIC THEATRE WICHITA

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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

1972

Legal Domicile

Principal Officer

ANGELA CASSETTE

Phone

3162653253

Tax Period

2024-01-01 to 2024-12-31

MUSIC THEATRE WICHITA, founded in 1972, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.5M in total revenue in fiscal year 2024. Revenue surged 66% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.8M, a strong 24% operating margin.

Mission

MUSIC THEATRE WICHITA ADVANCES THE MUSICAL THEATRE ART FORM BY EDUCATING AND NURTURING CREATORS, ARTISTS AND AUDIENCES, PRIMARILY THROUGH THE PRODUCTION OF BROADWAY-CALIBER SHOWS.

Program Service Accomplishments

Program 1

Expenses: $4,540,288 Revenue: $2,605,187

MUSIC THEATRE WICHITA'S 2024 FISCAL YEAR FEATURED FIVE SUMMER PRODUCTIONS. ALL FIVE WERE HELD IN CENTURY II CONCERT HALL. OUR PRODUCTION OF DISNEY'S FROZEN WAS A REGIONAL PREMIERE AND ONE OF ONLY A HANDFUL OF PRODUCTIONS LICENSED THIS YEAR. THIS PRODUCTION LED THE WAY IN TICKET SALES FOR THE YEAR AND HELPED OUR NUMBERS CONTINUE TO IMPROVE. WE SOLD OVER 45,000 TICKETS THROUGH THE SEASON AND ALSO SAW CONTINUED GROWTH IN OUR YOUTH PROGRAMMING.

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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 $3,633,516

Program Service Revenue $2,634,500

Investment Income $1,146,681

Other Revenue $118,672

TOTAL REVENUE $7,533,369

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,875,767

Fundraising Expenses $285,130

Program Expenses $4,540,288

Other Expenses $2,750,138

TOTAL EXPENSES $5,704,289

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,533,369	$4,530,151	+0.7%
Expenses	$5,704,289	$5,373,808	+0.1%
Net Income	$1,829,080	$-843,657	-3.2%

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

296

Volunteers

137

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

$412,891

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREW KOVAR	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
BETH STURM	DIRECTOR	0.50	Director	$0	$0	$0
BONNIE BING HONEYMAN	DIRECTOR	0.50	Director	$0	$0	$0
BRENDA BENNING	DIRECTOR	0.50	Director	$0	$0	$0
CARLA DEWALT	DIRECTOR	0.50	Director	$0	$0	$0
CARRIE HENDRICKSON	DIRECTOR	0.50	Director	$0	$0	$0
DARCEE DATTERI	MEMBER AT LARGE	0.50	Officer Director	$0	$0	$0
GLORIA FARHA FLENTJE	DIRECTOR	0.50	Director	$0	$0	$0
JENNY CAMPBELL	DIRECTOR	0.50	Director	$0	$0	$0
JESSICA ROSELL	DIRECTOR	0.50	Director	$0	$0	$0
JIM KNIGHT	TREASURER	1.00	Officer Director	$0	$0	$0
JORDAN SICKMAN	DIRECTOR (THROUGH 6/30/24)	0.50	Director	$0	$0	$0
KATHY WEBB	DIRECTOR	0.50	Director	$0	$0	$0
KEITH ASPLUND	GOVERNANCE	0.50	Officer Director	$0	$0	$0
KEN GALE	DIRECTOR	0.50	Director	$0	$0	$0
LARRY HECK	SECRETARY	1.00	Officer Director	$0	$0	$0
MADDIE BUTLER	DIRECTOR	0.50	Director	$0	$0	$0
MARTHA LINSNER	MEMBER AT LARGE	0.50	Officer Director	$0	$0	$0
PAUL WITTE	PRESIDENT	1.00	Officer Director	$0	$0	$0
SHARON VAN HORN	DIRECTOR	0.50	Director	$0	$0	$0
SHOKO SEVART	DIRECTOR	0.50	Director	$0	$0	$0
STEVE SHARP	MEMBER AT LARGE	0.50	Officer Director	$0	$0	$0
SUZY FINN	GOVERNMENT RELATIONS	0.50	Officer Director	$0	$0	$0
TONY VEITH	DIRECTOR	0.50	Director	$0	$0	$0
SHEILA KINNARD	DIRECTOR	0.50	Director	$0	$0	$0
ANGELA CASSETTE	MANAGING DIRECTOR	40.00	Officer	$122,209	$16,912	$139,121
BRIAN MARCUM	ARTISTIC DIRECTOR	40.00	Officer	$122,610	$35,878	$158,488
KIMBERLY STORER	FINANCE DIRECTOR	40.00	Officer	$80,577	$34,705	$115,282

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	$7,533,369	$5,704,289	$15,574,643	$1,829,080
2023	$4,530,151	$5,373,808	$13,508,864	$-843,657
2022	$5,599,669	$5,681,959	$12,683,103	$-82,290
2021	$761,757	$757,772	$15,633,556	$3,985
2021	$5,103,106	$3,497,948	$15,184,626	$1,605,158
2020	$2,683,825	$1,554,791	$12,850,508	$1,129,034
2019	$8,375,936	$4,029,423	$11,073,881	$4,346,513
2018	$4,228,629	$3,988,537	$6,199,316	$240,092