WATERTOWER THEATRE INC

EIN: 751559945 501(c)(3) Arts, Culture & Humanities

ADDISON, TX

Total Revenue
$880,393
Total Expenses
$1,098,490
Total Assets
$87,302
Net Assets
$-107,914
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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
TX
Principal Officer
SHANE PETERMAN
Phone
9724506230
Tax Period
2023-10-01 to 2024-09-30

WATERTOWER THEATRE INC, founded in 1977, is a small nonprofit in the Arts, Culture & Humanities sector that reported $880K in total revenue in fiscal year 2023. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 25% operating deficit.

Mission

TO CREATE INNOVATIVE, DIVERSE THEATRE THAT BUILDS COMMUNITY BY FOSTERING EMPATHY AND DIALOGUE.

Program Service Accomplishments

Program 1
Expenses: $967,315

THE THEATRE PROVIDES SEVERAL EDUCATIONAL OPPORTUNITIES TO THE COMMUNITY. A SUMMER CONSERVATORY IMMERSES CHILDREN IN ALL ASPECTS OF THEATRE ARTS FOR TWO WEEKS, AND AN AFTER- SCHOOL PROGRAM OFFERS A...

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THE THEATRE PROVIDES SEVERAL EDUCATIONAL OPPORTUNITIES TO THE COMMUNITY. A SUMMER CONSERVATORY IMMERSES CHILDREN IN ALL ASPECTS OF THEATRE ARTS FOR TWO WEEKS, AND AN AFTER- SCHOOL PROGRAM OFFERS A UNIQUE WAY FOR STUDENTS TO BE INTRODUCED TO THEATRE. IN ADDITION, ACTING CLASSES ARE OFFERED EACH SEASON TO AREA ACTORS. OTHER EDUCATIONAL OPPORTUNITIES CONSIST OF SUMMER INTERNSHIPS, WHICH EXPOSE YOUNG PROFESSIONALS TO THE DAY-TO-DAY OPERATIONS OF A SMALL PROFESSIONAL THEATRE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $567,155
Program Service Revenue $318,729
Investment Income $-5,491
Other Revenue $0
TOTAL REVENUE $880,393

Expense Breakdown

Grants Paid $0
Salaries & Benefits $623,851
Fundraising Expenses $34,412
Program Expenses $967,315
Other Expenses $474,639
TOTAL EXPENSES $1,098,490

Year-over-Year Comparison

2023 2022 Change
Revenue $880,393 $1,220,056 -0.3%
Expenses $1,098,490 $1,120,761 0.0%
Net Income $-218,097 $99,295 -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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Governance

Voting Members
13
Independent Members
13
Employees
3
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
1
$105,000
Total Directors
14
$105,000
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHANE PETERMAN PRODUCING ARTISTIC DIRECTOR 50
Officer Director Highest
$105,000 $0 $105,000
NADIA LOUDON DIRECTOR 2
Director
$0 $0 $0
TIMOTHY HORAN DIRECTOR 2
Director
$0 $0 $0
BARBARA DASEKE DIRECTOR 2
Director
$0 $0 $0
BRITTANY WILLIS DIRECTOR 2
Director
$0 $0 $0
CRAIG SUTTON DIRECTOR 2
Director
$0 $0 $0
TIFFANY RICHMOND DIRECTOR 2
Director
$0 $0 $0
BLAKE CLEMENS DIRECTOR 2
Director
$0 $0 $0
JAEANNETTE JOHNSON SECRETARY 2
Director
$0 $0 $0
MAGGIE VERA VICE PRESIDENT 2
Director
$0 $0 $0
ROSALIND BENJET DIRECTOR 2
Director
$0 $0 $0
BRUCE ARFSTEN DIRECTOR 2
Director
$0 $0 $0
REBECCA NEEF PRESIDENT 4
Director
$0 $0 $0
PHILIP LONGACRE TREASURER 4
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
2024 $880,393 $1,098,490 $87,302 $-218,097
2023 $1,220,056 $1,120,761 $248,534 $99,295
2022 $749,399 $820,038 $175,023 $-70,639
2021 $856,295 $739,349 $277,207 $116,946
2020 $994,722 $916,834 $294,367 $77,888
2019 $1,078,355 $1,163,457 $240,582 $-85,102
2018 $1,538,572 $1,514,291 $449,475 $24,281
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