VIRGINIA MUSICAL THEATRE INC

EIN: 541588760 501(c)(3) Arts, Culture & Humanities

VIRGINIA BEACH, VA

Total Revenue
$1,209,413
Total Expenses
$1,231,644
Total Assets
$328,178
Net Assets
$-468,412
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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
VA
Principal Officer
MARK HUDGINS
Phone
7573405446
Tax Period
2023-07-01 to 2024-06-30

VIRGINIA MUSICAL THEATRE INC, founded in 1991, is a small nonprofit in the Arts, Culture & Humanities sector that reported $776K in total revenue in fiscal year 2017. Revenue decreased 8% compared to the prior year.

Mission

LEADING THEATRE COMPANY DEDICATED TO NURTURING ARTISTS IN A CREATIVE ENVIRONMENT. VMT IS DRIVEN BY AN INNOVATIVE SPIRIT THAT CONSTANTLY SEEKS NEW MANAGEMENT AND ARTISTIC MODELS. CURRENT HALLMARKS OF ITS MANAGEMENT ARE RESOURCEFULNESS AND COLLABORATION. IN ADDITION TO PRODUCING MUSICAL THEATRE REVIVALS AND NEW WORKS, VMT PRIDES ITSELF ON A WIDE VARIETY OF COMMUNITY OUTREACH INITIATIVES AND EDUCATIONAL PROGRAMS.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $433,369
Program Service Revenue $630,987
Investment Income $1,100
Other Revenue $143,957
TOTAL REVENUE $1,209,413

Expense Breakdown

Grants Paid $0
Salaries & Benefits $124,953
Fundraising Expenses $0
Program Expenses $1,031,424
Other Expenses $1,106,691
TOTAL EXPENSES $1,231,644

Year-over-Year Comparison

2023 2022 Change
Revenue $1,209,413 $913,945 +0.3%
Expenses $1,231,644 $1,048,452 +0.2%
Net Income $-22,231 $-134,507 -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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Governance

Voting Members
13
Independent Members
12
Employees
63
Volunteers
20

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
6
$76,650
Total Directors
14
$76,650
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARK HUDGINS MANAGING DIR 40.00
Officer Director
$76,650 $0 $76,650
KIM MELNYK PRESIDENT N/A
Officer Director
$0 $0 $0
KAREN CROWLEY 1ST VICE PRE N/A
Officer Director
$0 $0 $0
NANCY CREECH 2ND VICE PRE N/A
Officer Director
$0 $0 $0
ROBIN BIANCO TREASURER N/A
Officer Director
$0 $0 $0
TONIE WALLACE MEMBER N/A
Director
$0 $0 $0
BARBARA LEWIS MEMBER N/A
Director
$0 $0 $0
DR JIM MARCHIGIANI MEMBER N/A
Director
$0 $0 $0
BRENDA REID MEMBER N/A
Director
$0 $0 $0
MARTHA MCCLEES SECRETARY N/A
Officer Director
$0 $0 $0
MOLLY HOBBS MEMBER N/A
Director
$0 $0 $0
JENNIFER BURROUGHS MEMBER N/A
Director
$0 $0 $0
SHANNON KNIGHT MEMBER N/A
Director
$0 $0 $0
SAMANTHA RUBIN SULLY MEMBER N/A
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 $1,209,413 $1,231,644 $328,178 $-22,231
2023 $913,945 $1,048,452 $369,372 $-134,507
2022 $648,568 $845,273 $428,462 $-196,705
2021 $412,376 $205,821 $121,918 $206,555
2020 $822,350 $652,455 $124,465 $169,895
2019 $805,176 $854,025 $2,399 $-48,849
2018 $776,393 $852,074 $1,088 $-75,681
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