Freehold Theatre Lab Studio (EIN 911707113) - Form 990 Financial Analysis & Trantor Score

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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

1991

Legal Domicile

Principal Officer

Annie Williams

Phone

2063237499

Tax Period

2023-09-01 to 2024-08-31

Freehold Theatre Lab Studio, founded in 1991, is a small nonprofit in the Arts, Culture & Humanities sector that reported $375K in total revenue in fiscal year 2023. Revenue fell 33% from the prior year — a significant decline worth monitoring. Expenses of $631K exceeded revenue, resulting in a 68% operating deficit.

Mission

Freehold engages the artist in every human, through theatrical training, experimentation, and practice; to foster a deeper connection with themselves and with each other in pursuit of radical mutuality.

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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 (2023)

Revenue Breakdown

Contributions & Grants $177,431

Program Service Revenue $189,389

Investment Income $14,179

Other Revenue $-6,128

TOTAL REVENUE $374,871

Expense Breakdown

Grants Paid $0

Salaries & Benefits $381,509

Fundraising Expenses $49,127

Program Expenses $510,485

Other Expenses $249,446

TOTAL EXPENSES $630,955

Year-over-Year Comparison

	2023	2022	Change
Revenue	$374,871	$562,890	-0.3%
Expenses	$630,955	$489,418	+0.3%
Net Income	$-256,084	$73,472	-4.5%

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

Volunteers

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

$82,087

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Robin Lynn Smith	Artistic and Founding Partner	20	Officer	$32,800	$0	$32,800
Kelli Vitt	Managing Director (July 23 to May 24)	40	Officer	$26,840	$792	$27,632
Caroline Kangas	Managing Director (to April 23)	40	Officer	$21,655	$0	$21,655
Annie Williams	President	2	Officer Director	$0	$0	$0
Mark Johnson	Vice President	2	Officer Director	$0	$0	$0
Adam Kuglin	Secretary	2	Officer Director	$0	$0	$0
Paula Wilson Nitka	Treasurer	2	Officer Director	$0	$0	$0
Elizabeth Dorn	Director	1	Director	$0	$0	$0
Monica Ramsey	Director	2	Director	$0	$0	$0
Randy Dixon	Managing Director (from June 24)	30	Officer	$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	$374,871	$630,955	$486,216	$-256,084
2023	$562,890	$489,418	$734,266	$73,472
2022	$313,279	$516,249	$664,409	$-202,970
2021	$600,966	$421,860	$617,695	$179,106

Freehold Theatre Lab Studio