2024-11-13T12:22:03-06:00 2023-12-31 990 2023-01-01 452855557 THE LEGACY THEATRE INC LEGA 2032085504 128 THIMBLE ISLANDS RD BRANFORD CT 06405 JOHN L WILLIAMS TREASURER 2032085504 2024-11-13 1 2023 2024-10-15 13:58:12Z JOHN L WILLIAMS 128 THIMBLE ISLANDS RD BRANFORD CT 06405 2592811 0 X WWW.LEGACYTHEATRECT.ORG X 2011 CT THE LEGACY THEATRE IS A PROFESSIONAL THEATRE COMPANY THAT ENHANCES THE CONNECTICUT SHORELINE'S ECONOMY, EDUCATIONAL OPPORTUNITIES AND QUALITY OF LIFE THROUGH LIVE THEATRE AND RELATED PROGRAMS. THE LEGACY STRIVES TO BE A PREMIERE ARTS HOUSE FOR LOCAL ARTISTS, PROFESSIONAL COMPANIES, AND TO ENSURE ONGOING SEASONS OF UPLIFTING, INSPIRING, AND CHALLENGING PROFESSIONAL THEATRE AND THEATRE TRAINING FOR ALL. 10 10 40 0 0 0 885446 1171595 299724 1364337 2 -5232 15184 -750 1200356 2529950 0 0 0 0 418173 596133 5600 1400 194482 1091206 1111600 1514979 1709133 -314623 820817 5608178 5278545 4409750 3259300 1198428 2019245 THE LEGACY THEATRE IS A PROFESSIONAL THEATER COMPANY THAT ENHANCES THE CONNECTICUT SHORELINE'S ECONOMY, EDUCATIONAL OPPORTUNITIES AND QUALITY OF LIFE THROUGH LIVE THEATER AND RELATED PROGRAMS. 0 0 757140 452129 2023 SEASON OF PERFORMANCES AND EVENTS 18689 29049 2023 EDUCATIONAL PROGRAMS 877927 THE THEATRE COMPLETED CONSTUCTION OF ITS PREMIER ARTS HOUSE IN 2022 BY REHABILITATING AND PRESERVING A PRE-EXISTING HISTORICAL BUILDING IN STONY CREEK, CT. CONSTRUCTION OF THE THEATRE WAS NECESSARY TO ENHANCE THE SHORELINE'S ECONOMY AND PROVIDE HIGH QUALITY THEATRE AND EDUCATIONAL OPPORTUNITIES FOR THE COMMUNITY. THE PROJECT WAS SUPPORTED IN PART BY THE HISTORICAL REHABILITATION TAX CREDIT PROGRAM THROUGH THE CT STATE HISTORIC PRESERVATION OFFICE, DEPARTMENT OF ECONONIC AND COMMUNITY DEVELOPMENT. UPON COMPLETION OF THE PROJECT THE THEATRE FINALIZED ITS APPLICATION FOR THE TAX CREDIT AND RECEIVED APPROVAL. THE TAX CREDIT WAS SOLD IN 2023 AND THE THEATRE USED THE PROCEEDS TO OFFSET CONSTRUCTION COSTS. 775829 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 109 0 1 40 1 0 0 0 0 0 0 0 0 0 0 X 10 10 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CT X THE LEGACY THEATRE INC 2032085504 128 THIMBLE ISLAND RD BRANFORD CT 06405 X STEPHANIE WILLIAMS PRESIDENT 10.00 X X 3096 0 0 JANA SHEA VICE PRESIDENT 3.00 X X 0 0 0 KATHLEEN MURPHY SECRETARY 5.00 X X 0 0 0 JOHN L WILLIAMS TREASURER 5.00 X X 0 0 0 TOM SHEA TRUSTEE 3.00 X 0 0 0 KATINA GIONTERIS TRUSTEE 3.00 X 0 0 0 DAMIAN DORIA TRUSTEE 5.00 X 0 0 0 BRIAN KNUDSEN TRUSTEE 5.00 X 0 0 0 CHARLES GRADY TRUSTEE 3.00 X 0 0 0 JEFFREY PROVOST EX-OFFICIO, MANAGING DIRECTOR 40.00 X 90769 0 0 KEELY KNUDSEN EX-OFFICIO, ARTISTIC DIRECTOR 40.00 X 89199 0 0 183064 0 0 0 0 0 0 0 676 51434 1119485 463183 1171595 THEATRE RESTORATION 711110 877927 877927 PERFORMANCE, CLASS & E 711110 486410 486410 1364337 12 12 56867 56964 5147 -97 -5147 -5244 -5244 0 676 750 -750 -750 2529950 1359105 0 -750 183064 84278 67724 31062 348930 127082 168500 53348 18433 18433 45706 18468 20067 7171 3000 3000 3199 3199 19650 19650 1400 1400 11967 11967 95317 31032 47361 16924 52724 16873 26413 9438 72153 23091 36146 12916 1836 588 920 328 125132 125132 307346 98351 153673 55322 34666 11094 17366 6206 DIRECT EVENT COSTS 344994 344994 OTHER EXPENSES 39616 1545 37704 367 1709133 775829 738822 194482 242542 217810 5967701 907766 5365636 5059935 800 5608178 5278545 2400000 2000000 2009750 1259300 4409750 3259300 X 1149978 2019245 48450 0 1198428 2019245 5608178 5278545 820817 0 X X 0 1 X 0 0 X 127019 202654 999577 897391 1171595 3398236 27265 12771 299665 302963 486410 1129074 154284 215425 1299242 1200354 1658005 4527310 74915 93164 466756 580650 465549 1681034 0 74915 93164 466756 580650 465549 1681034 2846276 1209 369 2 12 1592 1209 369 2 12 1592 877927 877927 155493 215425 1299611 1200356 2535944 5406829 0.52640 0.43020 0.00030 0.00050 X PART III, SHORT YEAR EXPLANATION 2020 FORM 990 IS SHORT YEAR FOR 7/1/2020- 12/31/2020 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 130000 130000 4806142 333589 4472553 938723 522473 416250 92836 51704 41132 5059935 LINE OF CREDIT 1250000 GIFT CERTIFICATES 9230 SALES TAX PAYABLE 22 CT MY SAVINGS CONTRIBUTION 48 1259300 2530698 750 750 2529948 2 2 2529950 1709881 750 750 1709131 2 2 1709133 PART XI, LINE 2D - OTHER ADJUSTMENTS: NET DIRECT FUNDRAISING EXPENSES PART XI, LINE 4B - OTHER ADJUSTMENTS: ROUNDING DIFFERENCE PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES DEDUCTED FROM REVENUE PART XII, LINE 4B - OTHER ADJUSTMENTS: ROUNDING DIFFERENCE SCH D PART XI & PART XII LINES 2D & 4B 990 REVENUE IS REPORTED NET OF DIRECT FUNDRAISING EXPENSES OF $750 990 EXPENSES DO NOT INCLUDE THE $750 AS IT DIRECTLY REDUCED INCOME ROUNDING DIFFERENCE OF $2 BETWEEN 990 AND AUDITED FINANCIAL STATEMENTS JOHN AND STEPHANIE WILLIAMS (OAK TREE MANAGEMENT) TRUSTEES PROPERTY X 400000 400000 0 1 1 JOHN AND STEPHANIE WILLIAMS TRUSTEES THEATER RENOVATION LINE OF CREDIT X 2000000 1600000 0 1 1 2000000 X 300 THRIFT SHOP VALUE X 3 56867 COMPARABLE MARKET PRICE X DEBT FORGIVENESS 1 400000 FMV X OFFICE SUPPLIES & FURNITURE 11 6016 COMPARABLE SALE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 STEPHANIE (PRESIDENT) AND JOHN WILLIAMS (TREASURER) ARE MARRIED. TOM (TRUSTEE MEMBER) AND JANA SHEA (VICE PRESIDENT) ARE MARRIED. BRIAN (TRUSTEE MEMBER) AND KEELY KNUDSEN (ARTISTIC DIRECTOR OF ORGANIZATION) ARE MARRIED. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED 990 IS EMAILED TO THE BOARD OF DIRECTORS FOR REVIEW AFTER COMPLETE OVERVIEW HAS BEEN MADE BY THE FINANCE COMMITTEE FOR COMMENT BEFORE SUBMITTING THE DOCUMENT TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY ADOPTED BY THE ORGANIZATION AT ITS ONSET IS REVIEWED AT THE ANNUAL BOARD MEETING BY ALL DIRECTORS AND EACH PERSON MUST FILL OUT A FORM THAT DISCLOSES ANY CONFLICT TO BE MADE KNOWN AND DISCUSSED AMONG THE BOARD. THESE FORMS ARE KEPT ON FILE WITH THE ORGANIZATION'S RECORDS. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATIONS ARE DETERMINED BY COMPARABLE COMPENSATIONS MADE WITHIN THE FIELD AS DETERMINED BY THE THEATRE GROUP COMMUNICATIONS, INC. WHICH PUBLISHES AN ANNUAL ACCOUNT OF RANGES OF PROFESSIONAL THEATER COMPANIES THROUGHOUT THE NATION AND THEIR COMPENSATION RANGES, BASED ON SIZE, OUTREACH, AND SCOPE. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST, AS STATED ON THE ORGANIZATION'S WEBSITE AND ARE ALSO AVAILABLE THROUGH PUBLIC INSPECTION THROUGH SITES SUCH AS GUIDESTAR. PAGE 7 PART VII COMPENSATION FOR STEPHANIE WILLIAMS, PRESIDENT IS UNRELATED TO WAGES EARNED AS PRESIDENT AND INCLUDES WAGES EARNED AS A PERFORMER AS PART OF THE ACTORS' EQUITY ASSOCIATION. FORM 990 PART XII LINE 2C BOARD OF TRUSTEES VOTES ON AUDITOR AND TO REVIEW AND ACCEPT AUDITOR REPORT