2023-12-08T20:51:19-05:00 2022-09-30 873593414 JConner PO Box 111 Haslet TX 76052 990 2021-10-01 751559945 Watertower Theatre Inc WATE 15650 Addison Road Addison TX 75001 Shane Peterman Managing Direct 9724506230 2023-11-28 false Shane Peterman XXX-XX-XXXX Marie Conner P01802340 2145199988 2023-12-08 0 00 AAL1 IAL1 2021 2023-04-26 12:10:37Z Shane Peterman 749399 false X www.watertowertheatre.org X 1977 TX TO CREATE INNOVATIVE, DIVERSE THEATRE THAT BUILDS COMMUNITY BY FOSTERING EMPATHY AND DIALOGUE. 13 13 0 18 0 0 739059 648054 114286 104939 21 0 2929 -3594 856295 749399 0 0 463323 561478 0 155682 276026 258560 739349 820038 116946 -70639 277207 175023 155819 201355 121388 -26332 TO CREATE INNOVATIVE, DIVERSE THEATRE THAT BUILDS COMMUNITY BY FOSTERING EMPATHY AND DIALOGUE. false false 495743 THE THEATRE PROVIDES SEVERAL EDUCATIONAL OPPORTUNITIES TO THE COMMUNITY. A SUMMER CONSERVATORY IMMERSES CHILDREN IN ALL ASPECTS OF THEATRE ARTS FOR TWO WEEKS, AND AN AFTER- SCHOOL PROGRAM OFFERS A UNIQUE WAY FOR STUDENTS TO BE INTRODUCED TO THEATRE. IN ADDITION, ACTING CLASSES ARE OFFERED EACH SEASON TO AREA ACTORS. OTHER EDUCATIONAL OPPORTUNITIES CONSIST OF SUMMER INTERNSHIPS, WHICH EXPOSE YOUNG PROFESSIONALS TO THE DAY-TO-DAY OPERATIONS OF A SMALL PROFESSIONAL THEATRE. EACH SEASON, WATERTOWER THEATRE PRODUCES A PROFESSIONAL LIVE THEATRE SEASON, EACH OFFERING A DIVERSE ARRAY OF PLAYS AND MUSICALS. THE PRODUCTIONS CONSIST OF A UNIQUE BUT FAMILIAR BLEND OF CLASSIC AND CONTEMPORARY. 495743 true true false false false false false false false true true false false false false true true false false false false false false false false false false false false false false false false true false false false false false false false false false false false false false true 0 0 0 true false false false false false false false false false false false false false false X 13 13 false false false false false false false true false false false true true true true false false true false false X Earl Griggs 9724506230 15650 Addison Road Addison TX 75001 Shane Peterman Managing Director 50.00 0.00 X 7900 0 0 Nadia Loudon Director 2.00 0.00 X 0 0 0 Timothy Horan Director 2.00 0.00 X 0 0 0 Barbara Daseke Director 2.00 0.00 X 0 0 0 Brittany Willis Director 2.00 0.00 X 0 0 0 Craig Sutton Director 2.00 0.00 X 0 0 0 Tiffany Richmond Director 2.00 0.00 X 0 0 0 Blake Clemens Director 2.00 0.00 X 0 0 0 Jeannette Johnson Secretary 2.00 0.00 X 0 0 0 Maggie Vera Vice President 2.00 0.00 X 0 0 0 Rosalind Benjet Director 2.00 0.00 X 0 0 0 Bruce Arfsten Director 2.00 0.00 X 0 0 0 Rebecca Neef President 4.00 0.00 X X 0 0 0 Philip Longacre Treasurer 4.00 0.00 X X 0 0 0 7900 0 0 0 false false false -2055 378476 271633 648054 Ticket Sales 711110 104939 104939 104939 -2055 Other Loss -3594 -3594 -3594 749399 101345 0 0 76000 76000 437851 303697 31582 102572 13959 1450 830 11679 33668 1500 32168 17299 17299 27540 562 5220 21758 18959 18959 5316 5316 29747 10074 19673 11630 11630 54723 54723 Supplies 36994 34541 2453 Merchant ProcBank Fees 23964 23714 250 Equipment Rental 6589 6589 Other Expenses 7861 7861 17938 13616 4322 820038 495743 168613 155682 140260 114380 12006 58090 4918 205611 156283 50521 49328 16330 6397 277207 175023 41312 52404 81338 141022 6930 33169 999 155819 201355 X 121388 -26332 121388 -26332 277207 175023 -70639 -77081 0 X false true X true false X 867655 485517 717165 739059 749399 3558795 867655 485517 717165 739059 749399 3558795 255413 3303382 3558795 0.92820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6397 6397 5269 1378 250 6397 5343 176 250 5269 5488 155 300 5343 5382 406 300 5488 true false 126644 85764 40880 52139 52139 26828 18380 8448 49328 X 797810 48411 48411 749399 749399 868449 48411 48411 820038 820038 Endowment funds intended uses (Part V, line 4) THE THEATRE ESTABLISHED A NON-ENDOWMENT FUND DESIGNATED FOR THE BENEFIT OF THE THEATRE WITH COMMUNITIES FOUNDATION OF TEXAS (CFT). THE FUND WASESTABLISHED UNDER A FORMAL AGREEMENT TO PROVIDE INCOME AND SUPPORT TO THE THEATRE. UNDER THE TERMS OF THE AGREEMENT, THE THEATRE CONVEYED TO CFT VARIANCE POWER OVER THE FUND, WHICH ENTITLES THE TRUSTEES OF CFT TO ULTIMATELY CONTROL THE ADMINISTRATION OF THE FUND AND DISTRIBUTION OF ITS CORPUS AND EARNINGS BASED ON THE TRUSTEES ASSESSMENT OF THE NEEDS OF THE COMMUNITY OR AREA SERVED. Footnote for uncertain tax position under FIN 48 (Part X) WATERTOWER THEATRE, INC. IS ORGANIZED AS A TEXAS NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION S0l(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTIONS 170(B}(l}(A)(VI} AND (VIII}, AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTIONS 509(A)(l) AND (3). THE THEATRE IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS, IN ADDITION, THE THEATRE IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO ITS EXEMPT PURPOSE. THE THEATRE FILES AN EXEMPT ORGANIZATION BUSINESS INCOME TAWITH THE IRS TO REPORT ITS UNRELATED BUSINESS TAXABLE INCOME.THE THEATRE BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONSTAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVEANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS.THE THEATRE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATEDTO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCHINTEREST AND PENALTIES ARE INCURRED. Shane Peterman Managing Director Purchase of sound eq X 10437 6930 false true false 6930 Committee meeting documentation Part VI line 8b WATERTOWER THEATRE DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. Form 990 governing body review Part VI line 11 THE DIRECTOR OF FINANCE AND ACCOUNTING, THE MANAGING DIRECTOR AND BOARD TREASURER REVIEW THE RETURN BEFORE IT IS PRESENTED TO THE BOARD OF DIRECTORS PRIOR TO FILING THE RETURN. Conflict of interest policy compliance Part VI line 12c EACH BOARD OFFICER AND DIRECTOR IS REQUIRED TO SIGN THE CONFLICT OF INTEREST DISCLOSURE ANNUALLY. EVERY DIRECTOR OR OFFICER WITH ANY PERSONAL INTEREST IN A CONTRACT OR TRANSACTION BETWEEN THE ORGANIZATION AND THAT PERSON MUST DISCLOSE ALL MATERIAL FACTS CONCERNING THE TRANSACTION, INCLUDING ALL POTENTIAL PERSONAL BENEFIT AND POTENTIAL CONFLICTS OF INTEREST, TO THE OTHER DIRECTORS OF THE BOARD OR OTHER GROUP AUTHORIZING THE TRANSACTION. THE TRANSACTION MUST BE APPROVED BY A MAJORITY OF THE UNITERERESTED DIRECTORS OR OTHER GROUP WITH THE AUTHORITY TO AUTHORIZE THE TRANSACTION OR CONTRACT. THE EMPLOYMENT AGREEMENT BETWEEN ITS MANAGING DIRECTOR AND THE THEATER CONTAINS SPECIFIC LANGUAGE MANDATING THAT ANY PERCEIVED OR POTENTIAL CONFLICTS OF INTEREST THAT HE MAY HAVE MUST BE REPORTED IMMEDIATELY TO THE BOARD OF DIRECTORS. THERE IS ALSO A CONFLICT OF INTEREST POLICY IN THE EMPLOYEE HR MANUAL THAT COVERS ALL EMPLOYEES OF THE THEATRE. CEO executive director top management comp Part VI line 15a THE BOARD OF DIRECTORS DETERMINE THE MANAGING AND ARTISTIC DIRECTORS SALARIES BASED UPON PERFORMANCE AND REASONABLE INCREASES IN COST OF LIVING. THE TCGS SALARY SURVEY IS USED AS A GUIDE FOR THE SALARY RANGES. THE MANAGING AND ARTISTIC DIRECTORS COMPENSATION PACKAGES WERE LAST REVIEWED IN MAY OF 2016 AS PART OF THE PROCESS OF HIRING THE(NOW FORMER)MANAGING DIRECTOR AND IN JUNE 2017 AS PART OF THE HIRING PROCESS FOR THE ARTISTIC DIRECTOR. OTHER MANAGEMENT SALARIES ARE DETERMINED BY THE MANAGING DIRECTOR AND ARE BASED ON PERFORMANCE AND TENURE. Governing documents etc available to public Part VI line 19 THE THEATRES FORM 990 IS AVAILABLE UPON REQUEST. THE ORGANIZATIONAL DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST TO THE DIRECTOR OF FINANCE AND ADMINISTRATION.