Theatre Puget Sound

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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

1998

Legal Domicile

Principal Officer

Shobhit Agarwal

Tax Period

2023-01-01 to 2023-12-31

Theatre Puget Sound, founded in 1998, is a small nonprofit in the Arts, Culture & Humanities sector that reported $337K in total revenue in fiscal year 2023. Expenses of $487K exceeded revenue, resulting in a 45% operating deficit.

Mission

TPS works to foster and advocate for a robust and equitable theatre community in the Puget Sound Region.

Program Service Accomplishments

Program 1

Expenses: $187,535 Revenue: $194,787

Through Space4Arts TPS provides affordable and deeply discounted space, including three performance spaces, six rehearsal studios, and one conference room (approximately 25,000 square feet) to be...

Through Space4Arts TPS provides affordable and deeply discounted space, including three performance spaces, six rehearsal studios, and one conference room (approximately 25,000 square feet) to be used by any artists or arts organization, for any arts related purpose. This program is possible in partnership with Seattle Center.

Program 2

Expenses: $56,401

Gregory Awards - 2023 brought back the Gregory Awards recognizing outstanding achievement by theaters in the Puget sound region. Eight peoples choice awards were presented at the online event. In...

Gregory Awards - 2023 brought back the Gregory Awards recognizing outstanding achievement by theaters in the Puget sound region. Eight peoples choice awards were presented at the online event. In 2024 we hope to bring back a fully audited slate of 34 awards.

Program 3

Expenses: $54,048 Revenue: $600

TPS Membership and Programming - The TPS membership website acts as a central message board for auditions, workshops, educational employment opportunities and more. The TPS website and newsletter...

TPS Membership and Programming - The TPS membership website acts as a central message board for auditions, workshops, educational employment opportunities and more. The TPS website and newsletter also promote theatre organizations and performances around the Puget Sound.

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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 $128,972

Program Service Revenue $206,336

Investment Income $548

Other Revenue $1,296

TOTAL REVENUE $337,152

Expense Breakdown

Grants Paid $0

Salaries & Benefits $251,150

Fundraising Expenses $32,707

Program Expenses $330,268

Other Expenses $222,352

TOTAL EXPENSES $487,462

Year-over-Year Comparison

	2023	2022	Change
Revenue	$337,152	$312,561	+0.1%
Expenses	$487,462	$282,685	+0.7%
Net Income	$-150,310	$29,876	-6.0%

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

$83,160

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Crystal Yingling	Executive Director	40.00	Officer	$83,160	$0	$83,160
Arika Matoba	Board Member since 22023	1.00	Director	$0	$0	$0
Matthew Sythandone	Board Member since 32023	1.00	Director	$0	$0	$0
Janet Hayatshahi	Board Member since 22023	1.00	Director	$0	$0	$0
Deanna Martinez	Board Member since 22023	1.00	Director	$0	$0	$0
Ry Amstrong	Board Member since 122023	1.00	Director	$0	$0	$0
Miriam Tobin	Board Member since 122023	1.00	Director	$0	$0	$0
Alexei Cifrese	Board Member since 32023	1.00	Director	$0	$0	$0
Barbara Callander	Board Member since 112023	1.00	Director	$0	$0	$0
Marcus Gorman	Board Member	1.00	Director	$0	$0	$0
Doug Boling	Board Member	1.00	Director	$0	$0	$0
Kristin Bowen	Board Member	1.00	Director	$0	$0	$0
Cassandra Leon	Board Member since 22023	1.00	Director	$0	$0	$0
Emily Harvey	President till 22023	5.00	Officer Director	$0	$0	$0
Mark Emerson	Secretary	3.00	Officer Director	$0	$0	$0
Caroline Rensel	Treasurer till 72023	5.00	Officer Director	$0	$0	$0
Max Furukawa	Vice President	3.00	Officer Director	$0	$0	$0
Rebecca ONeil	PresidentTreasurer	10.00	Officer 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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$337,152	$487,462	$208,863	$-150,310
2022	$312,561	$282,685	$344,802	$29,876
2021	$178,012	$107,396	$273,890	$70,616
2020	$359,851	$323,842	$263,636	$36,009
2019	$543,289	$397,063	$162,344	$146,226