Stages

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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

1978

Legal Domicile

Principal Officer

George Lancaster

Phone

7135270220

Tax Period

2024-07-01 to 2025-06-30

Stages, founded in 1978, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.4M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $7.1M left a modest 4% surplus.

Mission

Stages makes plays and tells stories that invite everyone to live more deeply and love more boldly.

Program Service Accomplishments

Program 1

Expenses: $5,741,126 Revenue: $2,459,306

Stages produces a broad scope of plays and musicals in an intimate setting. Stages nurtures an engaged and diverse patron base whose loyalty is unrivaled. During the 2024-25 season, the Organization staged 15 plays and musicals with over 32,000 audience members and provided meaningful employment to over 225 artists. Stages' acute focus on the growth of artists creates a theater that leads in the advancement of artists and practitioners, fostering the development of emerging talent and new work within the city of Houston.

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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 $5,119,306

Program Service Revenue $2,459,306

Investment Income $18,549

Other Revenue $-169,846

TOTAL REVENUE $7,427,315

Expense Breakdown

Grants Paid $1,100

Salaries & Benefits $3,743,741

Fundraising Expenses $601,905

Program Expenses $5,741,126

Other Expenses $3,268,858

TOTAL EXPENSES $7,149,574

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,427,315	$6,273,323	+0.2%
Expenses	$7,149,574	$7,005,428	+0.0%
Net Income	$277,741	$-732,105	-1.4%

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

Governance

Voting Members

Independent Members

Employees

138

Volunteers

200

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

$178,077

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Steven Owsley	Chairman	2.00	Officer Director	$0	$0	$0
George Lancaster	President	2.00	Officer Director	$0	$0	$0
Kay Brazelton Bruce	Secretary	2.00	Officer Director	$0	$0	$0
Phillip Vogelsang	Treasurer	2.00	Officer Director	$0	$0	$0
Omar Al-Aidroos	Director	2.00	Director	$0	$0	$0
Ralph Burch	Director	2.00	Director	$0	$0	$0
Kalinda Campbell	Director	2.00	Director	$0	$0	$0
Briana Conner	Director	2.00	Director	$0	$0	$0
Puja Detjen	Director	2.00	Director	$0	$0	$0
Mike Dishberger	Director	2.00	Director	$0	$0	$0
Duke Ensell	Director	2.00	Director	$0	$0	$0
Stacy Feltham	Director	2.00	Director	$0	$0	$0
Jo Furr	Director	2.00	Director	$0	$0	$0
Luis Gomar	Director	2.00	Director	$0	$0	$0
Glenda Gordy	Director	2.00	Director	$0	$0	$0
Cynthia Guill	Director	2.00	Director	$0	$0	$0
Lauren Hagerich	Director	2.00	Director	$0	$0	$0
Joanna Handel	Director	2.00	Director	$0	$0	$0
Neal Hirsch	Director	2.00	Director	$0	$0	$0
John Isgren	Director	2.00	Director	$0	$0	$0
Myrtle Jones	Director	2.00	Director	$0	$0	$0
Danny Klaes	Director	2.00	Director	$0	$0	$0
Harriet Latimer	Director	2.00	Director	$0	$0	$0
Alexander Lazar	Director	2.00	Director	$0	$0	$0
Angela Lee	Director	2.00	Director	$0	$0	$0
Jim Nicklos	Director	2.00	Director	$0	$0	$0
Angela Haraka Ramm	Director	2.00	Director	$0	$0	$0
Jessica Rossman	Director	2.00	Director	$0	$0	$0
Hans Roth	Director	2.00	Director	$0	$0	$0
Jane Crowder Schmitt	Director	2.00	Director	$0	$0	$0
Charles Walker	Director	2.00	Director	$0	$0	$0
Derek Charles Livingston	Artistic Director	40.00	Officer	$82,955	$2,795	$85,750
Gwen Watkins	Managing Director	40.00	Officer	$92,327	$0	$92,327
Debra Yeang	Finance & Administration Director	40.00	Highest	$128,027	$2,012	$130,039

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	$7,427,315	$7,149,574	$31,624,190	$277,741
2024	$6,273,323	$7,005,428	$31,898,160	$-732,105
2023	$5,229,067	$6,500,909	$32,839,702	$-1,271,842
2022	$5,949,704	$5,725,351	$35,203,862	$224,353
2021	$4,654,421	$4,290,151	$37,495,020	$364,270
2020	$10,709,964	$5,449,656	$40,249,891	$5,260,308
2019	$10,513,696	$5,006,703	$34,858,205	$5,506,993
2018	$16,289,298	$4,490,334	$21,835,268	$11,798,964