THE NORTH CAROLINA THEATRE

EIN: 561072874 501(c)(3)

RALEIGH, NC

Total Revenue
$3,493,103
Total Expenses
$4,331,424
Total Assets
$1,771,256
Net Assets
$-952,052
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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
1983
Legal Domicile
NC
Principal Officer
JAMES LEE
Phone
9198316941
Tax Period
2022-01-01 to 2022-12-31

THE NORTH CAROLINA THEATRE, founded in 1983, is a community nonprofit that reported $3.5M in total revenue in fiscal year 2022. Expenses of $4.3M exceeded revenue, resulting in a 24% operating deficit.

Mission

TO PRODUCE PROFESSIONAL THEATRE PRODUCTIONS AND OPERATE A YOUTH TRAINING PROGRAM.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,974,259
Program Service Revenue $1,444,220
Investment Income $24,491
Other Revenue $50,133
TOTAL REVENUE $3,493,103

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,969,004
Fundraising Expenses $341,887
Program Expenses $3,397,614
Other Expenses $2,362,420
TOTAL EXPENSES $4,331,424

Year-over-Year Comparison

2022 2021 Change
Revenue $3,493,103 $3,580,122 0.0%
Expenses $4,331,424 $2,994,738 +0.4%
Net Income $-838,321 $585,384 -2.4%
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

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Governance

Voting Members
18
Independent Members
18
Employees
82
Volunteers
100

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
$187,435
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ELIZABETH DORAN PRESIDENT & CEO 50.00
Officer
$166,462 $20,973 $187,435
DEBBIE HAMMERSLA CHAIR OF BOARD 0.50
Officer Director
$0 $0 $0
JEFF WEATHERSPOON FORMER BOARD CHAIR 0.50
Officer Director
$0 $0 $0
ANNA CHURCHILL VICE CHAIR OF BOARD AND CHAIR OF GOVERNANCE 0.50
Officer Director
$0 $0 $0
JOHN ZALOOM SECRETARY 0.50
Officer Director
$0 $0 $0
JILL HEATH TREASURER AND CHAIR OF FINANCE COMMITTEE 0.50
Officer Director
$0 $0 $0
CATHERINE DAUBERT CHAIR OF DEVELOPMENT COMMITTEE 0.50
Director
$0 $0 $0
CARLA FREDERICK CHAIR OF EDUCATION COMMITTEE 0.50
Director
$0 $0 $0
MERRITT ATKINS BOARD MEMBER 0.50
Director
$0 $0 $0
EMILY FAUSCH BOARD MEMBER 0.50
Director
$0 $0 $0
LAWRENCE QUINCY MARSHALL MEMBER AT LARGE 0.50
Director
$0 $0 $0
CHANDA JANINE BRANCH BOARD MEMBER 0.50
Director
$0 $0 $0
CHRISTOPHER D SALEH BOARD MEMBER 0.50
Director
$0 $0 $0
ALLEN MASK MD BOARD MEMBER 0.50
Director
$0 $0 $0
JAYMES FOSTER BOARD MEMBER 0.50
Director
$0 $0 $0
JOANNE M FRUTH MD BOARD MEMBER 0.50
Director
$0 $0 $0
ANABEL ROSA BOARD MEMBER 0.50
Director
$0 $0 $0
KEN SMITH BOARD MEMBER 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
2022 $3,493,103 $4,331,424 $1,771,256 $-838,321
2021 $3,580,122 $2,994,738 $3,174,252 $585,384
2020 $1,830,229 $2,601,012 $2,275,947 $-770,783
2019 $4,495,276 $5,168,954 $2,639,585 $-673,678
2018 $4,625,713 $5,159,610 $3,279,401 $-533,897
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