Lubbock Community Theatre

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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

Phone

8067492416

Tax Period

2022-07-01 to 2023-06-30

Lubbock Community Theatre is a small nonprofit in the Arts, Culture & Humanities sector that reported $505K in total revenue in fiscal year 2022. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $611K exceeded revenue, resulting in a 21% operating deficit.

Mission

Provide cultural and performing arts programs for our community.

Program Service Accomplishments

Program 1

Expenses: $610,684

LCT typically produces 5-6 main season shows. These consist of a mixed slate of comedies, dramas, and musicals. We usually employ upwards of 300 contract laborers/artists. We typically sell seats...

LCT typically produces 5-6 main season shows. These consist of a mixed slate of comedies, dramas, and musicals. We usually employ upwards of 300 contract laborers/artists. We typically sell seats between 6,000-8,000.

Program 2

LCTs youth program is focused on student-led productions where children are cast and crew. Young people with help from mentors Stage Manage, run the board, box office, and the show. They also have a student led board where they help make decisions on what shows, workshops, and community service projects they will support.

Program 3

LCT has year-round programming that includes more than just performances. Auxiliary programming includes LCT's Big Move, SingPlayLearn, Sip & Paint, and Summer Classes.

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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 (2022)

Revenue Breakdown

Contributions & Grants $308,306

Program Service Revenue $196,613

Investment Income $0

Other Revenue $0

TOTAL REVENUE $504,919

Expense Breakdown

Grants Paid $0

Salaries & Benefits $227,728

Fundraising Expenses $0

Program Expenses $610,684

Other Expenses $382,956

TOTAL EXPENSES $610,684

Year-over-Year Comparison

	2022	2021	Change
Revenue	$504,919	$696,144	-0.3%
Expenses	$610,684	$545,434	+0.1%
Net Income	$-105,765	$150,710	-1.7%

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

N/A

Employees

N/A

Volunteers

N/A

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

Total Directors

$48,830

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HEATHER MAY	Executive Dir.	40.00	Director	$48,830	$0	$48,830
TREVA DRONES-ELLISON	Director	1.00	Director	$0	$0	$0
RACHEL BALLARD	Treasurer	1.00	Director	$0	$0	$0
MEGAN COPELAND	Vice President	1.00	Director	$0	$0	$0
JED MARTIN	Director	1.00	Director	$0	$0	$0
DANIEL BALLARD	Director	1.00	Director	$0	$0	$0
LANCE STANDFORD	President	1.00	Director	$0	$0	$0
DANA COULSON	Director	1.00	Director	$0	$0	$0
DARRELL ELLISON	Director	0.00	Director	$0	$0	$0
KAYLEE YOUNG	Secretary	0.00	Director	$0	$0	$0
RENEE MORALES	Director	0.00	Director	$0	$0	$0
ANN IVERY	Director	0.00	Director	$0	$0	$0
SUMMER JOHNSON	Director	0.00	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
2023	$504,919	$610,684	$1,043,152	$-105,765
2022	$696,144	$545,434	$1,180,461	$150,710
2021	$281,383	$169,793	$255,733	$111,590
2020	$210,531	$190,966	$124,552	$19,565