2024-01-30T13:56:13-06:00 2023-05-31 WITHUMSMITHBROWNPC 200 S ORANGE AVESTE 1200 ORLANDO FL 328013400 990 2022-06-01 592931698 Orlando Shakespeare Theater Inc % LAWRENCE MABREY ORLA 4074471700 812 E Rollins Street Orlando FL 32803 Lawrence Mabrey MANAGING DIRECTOR 4074471700 2024-01-27 true Lawrence Mabrey 999009999 ERIK A HALLUSKA CPA P01954172 4078491569 2 2022 2023-04-26 12:10:37Z DOUGLAS LOVE 812 E Rollins Street Orlando FL 32803 4503774 false X WWW.ORLANDOSHAKES.ORG X 1989 FL TO ENRICH OUR COMMUNITY WITH ENGAGING PROFESSIONAL THEATER, INSPIRING EDUCATIONAL EXPERIENCES AND THOUGHT-PROVOKING NEW PLAYS. 37 36 144 401 0 0 2979544 2201219 1123203 1509682 -9172 2433 266312 400286 4359887 4113620 0 0 0 0 2191516 2759271 0 0 140550 1353485 1797994 3545001 4557265 814886 -443645 6529809 6167085 753142 334327 5776667 5832758 X TO ENRICH OUR COMMUNITY WITH ENGAGING PROFESSIONAL THEATER, INSPIRING EDUCATIONAL EXPERIENCES AND THOUGHT-PROVOKING NEW PLAYS. true true 2823231 1061428 "KINKY BOOTS" REPRESENTED A RETURN TO PRODUCING LARGE, MODERN MUSICALS FOR ORLANDO SHAKES. THE PRODUCTION NOT ONLY DEALT WITH THE TIMELY MESSAGE OF TOLERANCE AND ACCEPTANCE, IT WAS A RETURN TO A PRODUCTION WITH LAVISH SETS, LIGHTS, COSTUMES AND PRODUCTION ELEMENTS ALONG WITH A FULL, LIVE ORCHESTRA. 505928 279894 "LADY DAY AT EMERSON'S BAR AND GRILL" IS A JUKEBOX STYLE MUSICAL BY LAINIE ROBERTSON. THE PRODUCTION DIVES INTO THE MUSIC AND LIFE OF BILLIE HOLIDAY IN A FICTIONALIZED VERSION OF ONE OF HER FINAL PERFORMANCES. IT EXPLORES THE LIFE, TRAGEDIES AND INFLUENCES THAT CREATED ONE OF OUR ICONIC JAZZ LEGENDS. THIS PRODUCTION ALSO SAW TYMISHA HARRIS RETURN TO OUR STAGE IN THE TITLE ROLE. 245499 168360 WE CONTINUED OUR CABARET SERIES IN OUR TENTED COURTYARD. WE EXPANDED TO FIVE CONCERTS INCLUDING PERFORMANCES BY LOCAL FAVORITES MICHAEL ANDREW, LAURA HODOS AND BECKY FISHER. THE SERIES ADDED TWO ENSEMBLE OFFERINGS THAT WERE ABLE TO EXPLORE THE MUSICAL LEGACY OF STEPHEN SONDHEIM AND THE LATINX INFLUENCE ON THE BROADWAY MUSICAL. JAZZ, SWING AND CONTEMPORARY HOLIDAY MUSIC WERE ALL CELEBRATED THROUGHOUT THE SERIES IN THIS DYNAMIC OUTDOOR VENUE. 3574658 true true false false false false false false false true true true false true false true true false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false true 128 0 true 144 true false false false false false true true false true true false false false X 37 36 false false false false false false false true false false false true true true true true true true true false X X LAWRENCE MABREY 4074471700 812 E ROLLINS STREET NO 100 ORLANDO FL 32803 DOUGLAS A LOVE BOARD MEMBER 40.0 0.0 X 99933 0 12811 RITA LOWNDES CHAIR - COMMUNITY LEADER 3.0 0.0 X X 0 0 0 Dr John Rick Schell President - Community Leader 3.0 0.0 X X 0 0 0 A Noni Holmes-Kidd Vice PRESIDENT 3.0 0.0 X X 0 0 0 Dr Jessica Vaught Aviles Vice President 3.0 0.0 X X 0 0 0 Valerie Shapiro Secretary 3.0 0.0 X X 0 0 0 Janet Ziomek Treasurer 3.0 0.0 X X 0 0 0 Susan Arkin BOARD Member 1.0 0.0 X 0 0 0 Kim Ashby BOARD MEMBER 1.0 0.0 X 0 0 0 JIM HELSINGER BOARD MEMBER 1.0 0.0 X 0 0 0 MARCIA HOPE-GOODWIN BOARD MEMBER 1.0 0.0 X 0 0 0 DR JENNIFER KEEBAUCH BOARD MEMBER 1.0 0.0 X 0 0 0 MICHAEL WAINSTEIN BOARD MEMBER 1.0 0.0 X 0 0 0 DANIEL MCINTOSH BOARD MEMBER 1.0 0.0 X 0 0 0 JEFFREY MOORE BOARD MEMBER 1.0 0.0 X 0 0 0 DR MARY PALMER BOARD MEMBER 1.0 0.0 X 0 0 0 ELLEN SNYDER BOARD MEMBER 1.0 0.0 X 0 0 0 TERRY TORRES BOARD MEMBER 1.0 0.0 X 0 0 0 LINDA LANDMAN GONZALEZ BOARD MEMBER 1.0 0.0 X 0 0 0 MARITZA MARTINEZ-Guerrero BOARD MEMBER 1.0 0.0 X 0 0 0 ROSEANN HARRINGTON BOARD MEMBER 1.0 0.0 X 0 0 0 FRANCILLE MACFARLAND BOARD MEMBER 1.0 0.0 X 0 0 0 Andrew Asher BOARD MEMBER 1.0 0.0 X 0 0 0 Bernard Austin BOARD MEMBER 1.0 0.0 X 0 0 0 Scott Evans BOARD MEMBER 1.0 0.0 X 0 0 0 Dr Daniel Galante BOARD MEMBER 1.0 0.0 X 0 0 0 Suzanne Gilbert BOARD MEMBER 1.0 0.0 X 0 0 0 Grant Gribble BOARD MEMBER 1.0 0.0 X 0 0 0 Rob Henlon BOARD MEMBER 1.0 0.0 X 0 0 0 Andrea Massey-Farrell BOARD MEMBER 1.0 0.0 X 0 0 0 Shonn McCloud BOARD MEMBER 1.0 0.0 X 0 0 0 Mack McLaughlin BOARD MEMBER 1.0 0.0 X 0 0 0 Rosy Mills BOARD MEMBER 1.0 0.0 X 0 0 0 A Brian Phillips BOARD MEMBER 1.0 0.0 X 0 0 0 Sascha Rizzo BOARD MEMBER 1.0 0.0 X 0 0 0 Dr Alvin Wang BOARD MEMBER 1.0 0.0 X 0 0 0 Cheryl Zackery BOARD MEMBER 1.0 0.0 X 0 0 0 99933 0 12811 0 false false false 0 829796 628508 742915 2201219 THEATER ADMISSIONS 711110 1426420 1426420 EDUCATION INCOME 611710 83262 83262 1509682 13696 13696 0 0 190686 10 190676 0 190676 190676 235237 246500 -11263 -11263 -11263 118475 49342 69133 0 69133 0 0 0 219361 94302 125059 125059 MISCELLANEOUS INCOME 711110 15418 15418 15418 4113620 1650159 0 262242 0 0 0 0 112744 83655 23592 5497 0 2326495 1726231 486823 113441 23011 19062 3392 557 122499 101477 18057 2965 174522 126004 41042 7476 0 0 30992 30992 0 0 0 0 240804 235106 2914 2784 151595 94583 54467 2545 0 0 157315 106694 50621 35262 32117 2310 835 0 0 0 0 358620 322758 35862 64346 25034 39148 164 PRODUCTION EXPENSES 685007 678003 2718 4286 REPAIRS AND MAINTENANCE 74053 23934 50119 4557265 3574658 842057 140550 X 2872064 2913049 0 0 0 0 27484 35888 0 0 0 0 0 0 38442 8981 16580 1332 5093922 3844801 1456403 1249121 0 0 1023413 1001595 0 0 0 0 1095423 957119 6529809 6167085 103214 14463 0 0 649928 319864 0 0 0 0 0 0 0 0 0 0 0 0 753142 334327 X 3735117 3949890 2041550 1882868 5776667 5832758 6529809 6167085 X -443645 18302 481434 X X false true X true false X 1561738 1678800 2291704 2979544 2201219 10713005 0 0 1561738 1678800 2291704 2979544 2201219 10713005 501420 10211585 184882 135765 48376 166139 204372 739534 0 322862 289215 62914 220076 337836 1232903 12685442 6521013 0.80498 0.80750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 750000 750000 779861 -29861 750000 816938 120170 157247 779861 809319 27415 19796 816938 830088 -1674 19095 809319 0.20000 0.80000 false false 3997542 2984665 1012877 1030764 846617 184147 65616 13519 52097 1249121 EXCHANGE TRADED FUNDS 530664 F MUTUAL FUNDS 470931 F 1001595 INTEREST IN BLDG LEASE, NET 956595 OTHER ASSETS 524 957119 0 0 X 4275576 18302 143654 161956 4113620 4113620 4700919 143654 143654 4557265 4557265 PART V, LINE 4: The Organization's endowment consists of two individual funds established for different purposes. Its endowment includes both donor-restricted endowment funds and funds designated by the Board of Directors to function as endowments. As required by GAAP, net assets associated with endowment funds, including funds designated by the Board of Directors to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. The Organization's cultural endowment fund was established for the purpose of raising $360,000 for the Organization. This is part of the Board designated endowment. On July 21, 2014, this was matched in part by the State of Florida in the amount of $240,000, with a condition of the continuation of the program. The action by the state to match has created a donor-restricted endowment, with an endowment totaling $600,000 in principal. The principal on this endowment will not be spent; however, income earned on the investment can be used to fund operations of the Organization. Risk Parameters The Organization has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowments while seeking to preserve the fair value of the original gift as of the gift date of the endowment assets. Endowment assets include those assets of donor-restricted funds that the Organization must hold in perpetuity or for a donor-specified period(s) as well as board- designated funds. Under this policy, as approved by the Board of Directors, the endowment assets are invested in a manner that is conservative and assumes a minimal level of investment risk. The Organization's goal is for its endowment fund to provide a rate of return over a market cycle (3 to 5 years) to exceed the rate of inflation (as measured by the Consumer Price Index) plus 5%. PART X, LINE 2: The Organization is a not-for-profit corporation exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. The Organization is subject to a tax on income from any unrelated business. At May 31, 2023 and 2022, the Organization did not incur any income tax liabilities from unrelated business income. Accounting principles generally accepted in the United States of America prescribe requirements for the recognition of income taxes in financial statements, and the amounts recognized are affected by income tax positions taken by the Organization in its tax returns. The Organization's status as a tax-exempt entity is defined as a tax position. While management believes it has complied with the Internal Revenue Code, the sustainability of some income tax positions taken by the Organization in its tax returns may be uncertain. There are minimum thresholds of likelihood that uncertain tax positions are required to meet before being recognized in the financial statements. Management does not believe that the Organization has any material uncertain tax positions at May 31, 2023 and 2022. In the event interest and penalties were due relating to an unsustainable tax position, they would be treated as a component of income tax expense. PART XI and XII, LINE 2D - OTHER ADJUSTMENTS $49,342 FUNDRAISING EXPENSES REPORTED WITH REVENUE $ 10 RENTAL EXPENSES REPORTED WITH REVENUE $94,302 COST OF GOODS SOLD REPORTED WITH REVENUES ---------- $143,654 GALA 118475 118475 49342 0 118475 118475 49342 49342 69133 FORM 990, PART VI, SECTION A, LINE 8B: ALTHOUGH THERE ARE SEPARATE COMMITTEES, MINUTES ARE ONLY KEPT FOR THE MAIN BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 12C: EVERY YEAR EACH BOARD MEMBER SIGNS A NEW CONFLICT OF INTEREST POLICY. THE ORGANIZATION MONITORS HOW BOARD MEMBERS ARE INVOLVED WITH THE ORGANIZATION BASED ON COMMITTEES AND VENDORS. FORM 990, PART VI, SECTION B, LINE 15: COMPENSATION OF KEY EXECUTIVE EMPLOYEES OF THE ORGANIZATION ARE APPROVED IN ADVANCE BY THE BOARD OF DIRECTORS OR A COMMITTEE OF THE BOARD OF DIRECTORS WHO DO NOT HAVE A CONFLICT OF INTEREST USING APPROPRIATE RELEVANT COMPARABILITY DATA TO DETERMINE THE COMPENSATION AMOUNT. RELEVANT COMPARABILITY DATA INCLUDES COMPENSATION PAID BY SIMILAR ORGANIZATIONS FOR COMPARABLE POSITIONS, AVAILABILITY OF SIMILAR SERVICES IN THE GEOGRAPHIC AREA, CURRENT COMPENSATION SURVEYS COMPILED BY INDEPENDENT FIRMS AND ACTUAL WRITTEN COMPETING OFFERS FOR THE INDIVIDUAL'S SERVICES. INFORMATION TO DETERMINE THE COMPENSATION IS GATHERED AND THE DECISION IS DOCUMENTED IN THE BOARD MINUTES AND IN THE EMPLOYEE'S FILE. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT DID NOT CHANGE FROM THE PRIOR YEAR. FORM 990, PART VI, LINE 11: THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM. ONCE COMPLETE, THE DRAFT FORM IS SENT TO THE BOARD FOR COMMENTS AND EVALUATION. ONCE AGREED UPON THE FINAL DRAFT VERSION OF THE FORM 990, THE CPA FIRM THEN FILES THE TAX RETURN WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART III, LINE 2 KINKY BOOTS and JUKEBOX STYLE MUSICAL WERE STARTED DURING THE FISCAL YEAR 05/31/2023. FORM 990, PART III, LINE 3 THE THEATER'S 33RD SEASON PROGRAM and DARK COMEDY PROGRAM CEASED DURING THE FISCAL YEAR 05/31/2023. Form 990, Part XI, Line 8: RESTATEMENT TO PREVIOUSLY ISSUED FINANCIAL STATEMENTS The Organization's previously issued financial statements for the year ended May 31, 2022 have been restated for a material misstatement related to the recognition of support received which was deferred instead of recognized in the year received. As a result, the following line items from the statement of financial position were impacted as follows: deferred support and revenue and total current liabilities were overstated by $481,434 and net assets without donor restrictions and total net assets were understated by $481,434. Additionally, the following line items from the statement of activities (without donor restrictions and total) were impacted as follows: support and revenue - designated gifts from United Arts, total support - United Arts, total support, total support and revenue, change in net assets before depreciation and amortization, change in net assets, and net assets-end of year were understated by $448,308. Additionally, the following line items from the statement of cash flows were impacted as follows: change in net assets were understated by $448,308 and change in deferred support and revenue was overstated by $448,308. Additionally, the opening balance of net assets without donor restrictions and total net assets as of June 1, 2021 was understated by $33,126. As a result of the restatement, the following financial statement line items from the statement of financial position for the year ended May 31, 2022 were restated as follows: deferred support and revenue and total current liabilities decreased by $481,434 and net assets without donor restrictions and total net assets increased by $481,434. Additionally, the following line items from the statement of activities (without donor restrictions and total) for the year ended May 31, 2022 were restated as follows: support and revenue - designated gifts from United Arts, total support - United Arts, total support, total support and revenue, change in net assets before depreciation and amortization, change in net assets, and net assets-end of year increased by $448,308. Additionally, the following line items from the statement of cash flows for the year ended May 31, 2022 were restated: change in net assets were increased by $448,308 and change in deferred support and revenue was decreased by $448,308. Additionally, the opening balance of net assets without donor restrictions and total net assets as of June 1, 2021 was increased by $33,126.