MUSICAL THEATRE WEST

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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

1952

Legal Domicile

Principal Officer

PAUL GARMAN

Phone

5628561999

Tax Period

2023-01-01 to 2023-12-31

MUSICAL THEATRE WEST, founded in 1952, is a community nonprofit in the Arts, Culture & Humanities sector that reported $5.9M in total revenue in fiscal year 2023. Revenue surged 216% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 19% operating margin.

Mission

PRESERVING MUSICAL THEATRE AS A UNIQUE ART FORM AND ENRICHING THE CULTURAL LIFE OF THE COMMUNITY THROUGH THE PRESENTATION OF ESTABLISHED MUSICALS, DEVELOPMENT OF NEW WORKS, AND YOUTH ENRICHMENT PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $2,971,541 Revenue: $4,268,161

MUSICAL PRODUCTIONS - THE ORGANIZATION PRESENTS FOUR LIVE MUSICAL MAIN STAGE SHOWS AND SEVERAL SMALLER CONCERT-STYLE PERFORMANCES READING SERIES FOR THE COMMUNITY THROUGHOUT THE YEAR. SERVES MORE...

MUSICAL PRODUCTIONS - THE ORGANIZATION PRESENTS FOUR LIVE MUSICAL MAIN STAGE SHOWS AND SEVERAL SMALLER CONCERT-STYLE PERFORMANCES READING SERIES FOR THE COMMUNITY THROUGHOUT THE YEAR. SERVES MORE THAN 110,000 PATRONS ANNUALLY.

Program 2

Expenses: $176,467

YOUTH EDUCATION AND OUTREACH - THIS PROGRAM BRINGS THE JOY AND MAGIC OF MUSICAL THEATER TO OVER 17,000 CHILDREN EACH YEAR THROUGH SPECIAL STUDENT MATINEES MORNING PERFORMANCES, IN-SCHOOL ASSEMBLIES...

Program 3

Expenses: $265,761

TRAVEL CLUB - DURING 2023, THE ORGANIZATION TOOK 124 TRAVELERS TO CITIES ACROSS THE COUNTRY AND AROUND THE WORLD TO DINE, SIGHTSEE, AND SEE GREAT THEATER. EACH YEAR THE TRAVEL CLUB TAKES TWO TRIPS TO...

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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 $3,394,751

Program Service Revenue $2,314,527

Investment Income $96,832

Other Revenue $72,363

TOTAL REVENUE $5,878,473

Expense Breakdown

Grants Paid $3,000

Salaries & Benefits $2,173,957

Fundraising Expenses $148,727

Program Expenses $3,413,769

Other Expenses $2,608,415

TOTAL EXPENSES $4,785,372

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,878,473	$1,861,018	+2.2%
Expenses	$4,785,372	$1,905,039	+1.5%
Net Income	$1,093,101	$-44,021	-25.8%

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

295

Volunteers

276

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

$150,363

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL GARMAN	EXECUTIVE DIRECTOR	050.00	Officer	$145,000	$5,363	$150,363
BARBARA BLACKWELL	BOARD MEMBER	000.50	Director	$0	$0	$0
PATTY BURNS	GUILD PRESIDENT	000.50	Director	$0	$0	$0
JIM CHOURA	BOARD MEMBER	000.50	Director	$0	$0	$0
JANICE FRANK	TREASURER	001.00	Officer Director	$0	$0	$0
RANDALL GODDARD	BOARD MEMBER	001.00	Director	$0	$0	$0
BARBARA GOEN	BOARD MEMBER	002.00	Director	$0	$0	$0
JANA KELLY	EXECUTIVE COMMITTEE	003.00	Director	$0	$0	$0
ROXANNE KORZENIOWSKI	FOOTLIGHTERS PRESIDENT	000.50	Director	$0	$0	$0
MARNOS LELESI	BOARD MEMBER	001.00	Director	$0	$0	$0
ENRIQUE LUNA	BOARD MEMBER	000.50	Director	$0	$0	$0
MARCIE MART	BOARD MEMBER	000.50	Director	$0	$0	$0
GAIL MEREDITH	BOARD MEMBER	001.00	Director	$0	$0	$0
JOHN MONTGOMERY	BOARD MEMBER	000.50	Director	$0	$0	$0
JANE NETHERTON	PRESIDENT	003.00	Officer Director	$0	$0	$0
JOHN PRIMROSE	BOARD MEMBER	000.50	Director	$0	$0	$0
KEITH SOMERS	BOARD MEMBER	000.50	Director	$0	$0	$0
CYNTHIA TERRY	BOARD MEMBER	002.00	Director	$0	$0	$0
BRANDON WOODWARD	SECRETARY	001.00	Officer Director	$0	$0	$0
JAN HALL ZOLIN	BOARD MEMBER	002.00	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
2024	No data	No data	No data	No data
2023	$5,878,473	$4,785,372	$6,929,964	$1,093,101
2022	$4,291,859	$3,220,378	$5,817,832	$1,071,481
2021	$2,795,058	$1,602,296	$5,869,609	$1,192,762
2020	$2,779,381	$3,294,304	$4,253,447	$-514,923
2019	$4,949,959	$4,998,279	$3,711,423	$-48,320
2018	$4,237,332	$4,004,387	$3,693,260	$232,945