2017-07-27T09:07:13-05:00 2016-09-30 410746749 CLIFTONLARSONALLEN LLP 801 CHERRY STREET SUITE 1400 FORT WORTH TX 76102 990 2015-10-01 751559945 WATERTOWER THEATRE INC WATE 9724506230 15650 ADDISON ROAD ADDISON TX 75001 GREG PATTERSON MANAGING DIRECTOR 9724506230 2017-07-24 1 MICHAELA J CROMAR CPA P00895728 8178775000 2017-07-24 2015 2021-01-29 14:40:06Z GREG PATTERSON 15650 ADDISON ROAD ADDISON TX 75001 1770215 0 X WWW.WATERTOWERTHEATRE.ORG X 1996 TX WATERTOWER THEATRE'S MISSION IS TO OPEN MINDS WITH A DIVERSE MIX OF PLAYS AND EDUCATIONAL PROGRAMS. 17 17 82 140 4300 0 731362 855704 625011 836202 183 803 219366 -74602 1575922 1618107 0 0 0 0 934225 1041227 0 0 107412 658746 571111 1592971 1612338 -17049 5769 447725 428235 405649 375893 42076 52342 WATERTOWER THEATRE'S MISSION IS TO OPEN MINDS WITH A DIVERSE MIX OF PLAYS AND EDUCATIONAL PROGRAMS THAT INSPIRE PEOPLE TO EXPERIENCE AND EMBRACE LIVE THEATRE. 0 0 1208693 817816 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. THE THEATRE ALSO HOSTS THE ANNUAL "OUT OF THE LOOP FRINGE FESTIVAL" WHICH PRESENTS OPPORTUNITIES TO EXISTING AND EMERGING ARTISTS AND SMALLER THEATRE COMPANIES. 54040 29967 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. 1262733 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 97 0 82 1 1 1 0 0 0 0 1 1 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 1 0 0 X DELYNDA JOHNSON MORAVEC 9724506230 15650 ADDISON ROAD ADDISON TX 75001 DEREK BLOUNT CHAIRMAN 4.00 X X 0 0 0 BEN CUNNINGHAM PRESIDENT 4.00 X X 0 0 0 WADE W OWENS VICE PRESIDENT 4.00 X X 0 0 0 STAN GRANER SECRETARY 4.00 X X 0 0 0 JIMMY NIEMANN TREASURER 4.00 X X 0 0 0 ROZ BENJET DIRECTOR 2.00 X 0 0 0 MICHAEL CANTERBURY DIRECTOR 2.00 X 0 0 0 BLAKE CLEMENS DIRECTOR 2.00 X 0 0 0 ROSE COLAROSSI DIRECTOR 2.00 X 0 0 0 BARBARA DASEKE DIRECTOR 2.00 X 0 0 0 LAREE HULSHOFF DIRECTOR 2.00 X 0 0 0 MARGO KEYES DIRECTOR 2.00 X 0 0 0 JEFF LACEKY DIRECTOR 2.00 X 0 0 0 ROBERT MAYER JR DIRECTOR 2.00 X 0 0 0 CORKY PLEDGER DIRECTOR 2.00 X 0 0 0 PAUL SHULTZ DIRECTOR 2.00 X 0 0 0 DEBORAH STAGGS DIRECTOR 2.00 X 0 0 0 TERRY MARTIN EXECUTIVE DIRECTOR 50.00 X 98664 0 7891 GREG PATTERSON MANAGING DIRECTOR 50.00 X 76186 0 12581 174850 0 20472 0 0 0 0 0 123641 161000 571063 22180 855704 TICKET SALES 711110 496980 496980 PRODUCTION INCOME 711110 304955 304955 TUITION 900099 29967 29967 ADVERTISING 900099 4300 4300 836202 1068 1068 265 -265 -265 -265 22745 123641 118573 -95828 -95828 13645 8300 5345 5345 40851 24970 15881 15881 1618107 847783 4300 -89680 197386 127100 18939 51347 691256 615650 50089 25517 84007 71494 11350 1163 68578 57128 5646 5804 3469 3469 9600 9600 1480 1480 127846 127846 5219 5219 48867 48867 89096 72625 16471 23718 21771 859 1088 2095 1095 1000 14289 14289 30935 30935 SUPPLIES 99348 62651 24868 11829 PRINTING & PUBLICATIONS 42975 38920 1922 2133 CREDIT CARD & BANK FEES 28882 28882 MEALS & ENTERTAINMENT 14872 1028 5313 8531 28420 11339 17081 1612338 1262733 242193 107412 81143 85738 62977 49857 37892 258459 86327 202623 84325 5943 118298 64288 25038 447725 428235 45478 40817 329171 218076 117000 31000 405649 375893 X -143809 -117495 185885 169837 42076 52342 447725 428235 5769 3627 870 0 X 0 1 X 1 0 X 661442 611150 719995 731362 847404 3571353 661442 611150 719995 731362 847404 3571353 77509 3493844 220 232 240 183 1068 1943 101315 101315 3674611 1768977 0.95080 0.99950 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 52067 12815 3640 62700 505 5317 54941 -2320 554 52067 1.00000 1 0 126644 12664 113980 59588 56309 3279 16391 15352 1039 118298 DEPOSITS 19721 BENEFICIAL INTEREST 5317 25038 X 1690054 3627 65844 870 70341 1619713 505 -2111 -1606 1618107 1679788 65844 2111 67955 1611833 505 505 1612338 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 WAS ESTABLISHED 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. PART X, LINE 2: 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 501(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)(1)(A)(VI)AND(VIII), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTIONS 509(A)(1)AND (3). THE THEATRE IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. THE THEATRE BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE THEATRE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. THE THEATRE'S FORM 990 AND OTHER INCOME TAX FILINGS REQUIRED BY STATE, LOCAL, OR NON-U.S. TAX AUTHORITIES ARE NO LONGER SUBJECT TO TAX EXAMINATION FOR YEARS BEFORE 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: PRIOR PERIOD ADJUSTMENT 870. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES -2,111. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 2,111. GALA 134441 123641 10800 13480 34454 10194 55448 CCP 11945 0 11945 925 729 3343 146386 123641 22745 14405 35183 10194 58791 118573 -95828 LIBERTY CAPITAL BANK BEN CUNNINGHAM IS BANK'S PRESIDENT GENERAL OPERATIONS X 117000 117000 0 1 1 117000 CHRISTOPHER MILLER SPOUSE OF EXECUTIVE DIRECTOR 63725 THE THEATRE PURCHASED ADVERTISING DURING 2016 FROM RAINMAKER ADVERTISING AGENCY, THE OWNER OF WHICH IS THE SPOUSE OF TERRY MARTIN. 0 JAMES C NIEMANN BOARD TREASURER 100000 SECURITY COLLATERAL FOR LINE OF CREDIT WITH LIBERTY CAPITAL BANK IN THE FORM OF A BANK CERTIFICATE OF DEPOSIT WITH A CURRENT VALUE OF $100,000. 0 FORM 990, PART VI, SECTION A, LINE 8B WATERTOWER THEATRE DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT OF THE FORM 990 WAS PRESENTED TO THE BOARD OF DIRECTORS AND BUSINESS MANAGER FOR REVIEW PRIOR TO FILING. AFTER APPROVAL, THE BOARD PASSES A MOTION TO ACCEPT THE FORM 990. FORM 990, PART VI, SECTION B, 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. AT PRESENT, THERE IS NO CONFLICT OF INTEREST POLICY THAT COVERS EMPLOYEES OF THE THEATER. THIS IS BEING DEVELOPED CURRENTLY. 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. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS DETERMINES THE EXECUTIVE/PRODUCING ARTISTIC DIRECTOR'S SALARY BASED UPON PERFORMANCE AND REASONABLE INCREASES IN COST OF LIVING. THE TCG'S SALARY SURVEY IS USED AS A GUIDE FOR SALARY RANGES. OTHER MANAGEMENT'S SALARIES ARE DETERMINED BY THE EXECUTIVE DIRECTOR AND ARE BASED UPON PERFORMANCE AND TENURE. THE EXECUTIVE DIRECTORS COMPENSATION WAS LAST REVIEWED IN MAY OF 2016 AS PART OF THE PROCESS OF HIRING THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 THE THEATRE'S FORM 990 IS AVAILABLE UPON REQUEST. THE ORGANIZATIONAL DOCUMENTS AND CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST TO THE BUSINESS MANAGER.