2024-05-09T15:16:10-05:00 2023-06-30 390758449 WIPFLI LLP 170 N RADNOR-CHESTER RD SUITE 200 RADNOR PA 19087 990 2022-07-01 231715152 WALNUT STREET THEATRE CORPORATION WALN 2155743550 825 WALNUT STREET PHILADELPHIA PA 19107 BERNARD HAVARD PRESIDENT 2155743550 2024-05-09 1 BERNARD HAVARD 999009999 0 SOLOMON MARDAKHAEV P01806552 6105653930 2024-05-01 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BERNARD HAVARD 825 WALNUT STREET PHILADELPHIA PA 19107 22254947 0 X WWW.WALNUTSTREETTHEATRE.ORG X 1969 DE TO SUSTAIN THE TRADITION OF PROFESSIONAL THEATRE AND CONTRIBUTE TO ITS FUTURE VIABILITY AND VITALITY. 20 19 333 350 0 0 6772145 1757296 7661291 7173043 86468 544130 407111 580755 14927015 10055224 0 0 0 0 7388238 8285551 0 0 793103 4966796 5447610 12355034 13733161 2571981 -3677937 36002708 32066353 5368780 5027508 30633928 27038845 X THE MISSION OF WALNUT STREET THEATRE COMPANY IS TO SUSTAIN THE TRADITION OF PROFESSIONAL THEATRE AND CONTRIBUTE TO ITS FUTURE VIABILITY AND VITALITY.IT DOES SO THROUGH:- THE PRODUCTION AND PRESENTATION OF PROFESSIONAL THEATRE;- THE ENCOURAGEMENT, TRAINING AND DEVELOPMENT OF ARTISTS;- THE CULTIVATION OF DIVERSE AUDIENCES AND THE PRESERVATION AND CHRONICLING OF ITS THEATRE BUILDING, A NATIONAL HISTORIC LANDMARK 0 0 9927708 0 7525608 THEATRE SCHOOL - DURING THE 2022-2023 SEASON, OUR THEATRE SCHOOL WORKED WITH 38 TEACHERS AND 943 STUDENTS. TOURING OUTREACH SERVED 40 DISTRICTS, 88 SCHOOLS AND 28,600 STUDENTS. TWO ORIGINAL TITLES, THE P FUNK POSSE AND GOLDILOCKS.COM. THE ADOPT-A-SCHOOL PROGRAM SERVED FOUR PHILADELPHIA SCHOOLS THIS PAST YEAR. THROUGH THIS INITIATIVE, FOUR OF OUR WST TEACHING ARTISTS TAUGHT 1,928 STUDENTS. OUR RESIDENCY PROGRAM HAD 11 WST TEACHING ARTISTS SERVING 13 SCHOOLS AND REACHING 2,378 TOTAL STUDENTS. WALNUT STREET THEATRE KIDS SERIES HAD 23 STUDENTS FROM WALNUT STREET THEATRE SCHOOL AND FOUR ARTISTIC STAFF MOUNTED A FULLY STAGED ADAPTATION OF DISNEY'S FROZEN JR. 8,832 ATTENDEES CAME TO THE PERFORMANCES. DISNEY MUSICALS IN SCHOOLS HAD FOUR WST TEACHING ARTISTS AND THE WST EDUCATIONAL STAFF SERVED TWO SCHOOLS, AND 120 STUDENTS WERE ABLE TO PARTICIPATE IN THE DISNEY MUSICAL IN SCHOOLS PROGRAM. 301783 0 13183 MAINSTAGE PRODUCTIONS - DURING THE 2022-2023 SEASON, WALNUT STREET THEATRE'S MAINSTAGE PRODUCTIONS WELCOMED 153,334 ATTENDEES, INCLUDING 18,730 SUBSCRIBERS. 10229491 1 1 0 1 0 0 0 1 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 132 0 333 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 20 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ PA X X MARK SYLVESTER 2155743550 825 WALNUT STREET PHILADELPHIA PA 191075107 BERNARD HAVARD PRESIDENT AND PRODUCING ARTISTIC DIRECTOR 60.00 X X 772212 0 213962 SCOTT RANKIN BOARD CHAIR 2.00 X X 0 0 0 FRANCIS MIRABELLO VICE CHAIR 2.00 X X 0 0 0 RAMONA GWYNN VICE CHAIR / SECRETARY 2.00 X X 0 0 0 ROBERT L HARMAN TREASURER 2.00 X X 0 0 0 JEFFREY L FERRO CHAIR AUDIT COMMITTEE 2.00 X X 0 0 0 JOHN D GRAHAM CHAIRMAN EMERITUS 2.00 X X 0 0 0 LOUIS W FRYMAN CHAIRMAN EMERITUS 2.00 X X 0 0 0 MATTHEW I GARFIELD CHAIRMAN EMERITUS 2.00 X X 0 0 0 RICHARD A MITCHELL IMMEDIATE PAST CHAIR 2.00 X X 0 0 0 JOHN FIDLER BOARD MEMBER 2.00 X 0 0 0 JACK GARFINKLE BOARD MEMBER 2.00 X 0 0 0 AUDREY MERVES BOARD MEMBER 2.00 X 0 0 0 PATRICK MULLEN BOARD MEMBER 2.00 X 0 0 0 TANYA RULEY-MAYO BOARD MEMBER 2.00 X 0 0 0 GENE SCHRIVER BOARD MEMBER 2.00 X 0 0 0 DANIEL J SCHULLER BOARD MEMBER 2.00 X 0 0 0 JAMES SCULLY BOARD MEMBER 2.00 X 0 0 0 ELLEN TOBIE BOARD MEMBER 2.00 X 0 0 0 DAVID WYHER BOARD MEMBER 2.00 X 0 0 0 MARK SYLVESTER MANAGING DIRECTOR 60.00 X 483777 0 17878 SIOBHAN RUANE DIRECTOR OF PRODUCTION 60.00 X 182000 0 10271 TJ SOKSO DIRECTOR OF EDUCATION 60.00 X 149000 0 34076 MICHAEL ARMENTO CONTROLLER 60.00 X 141000 0 35788 EDWARD GILCHRIST DIRECTOR OF MARKETING 60.00 X 153961 0 14608 BRIAN KURTAS ASSOCIATE ARTISTIC DIRECTO 60.00 X 114500 0 9599 1996450 0 336182 8 0 1 0 0 103 193842 138000 1425351 45254 1757296 PRODUCTION TICKET SALES 711110 6669271 6669271 THEATRE SCHOOL 711110 490589 490589 OTHER 711110 13183 13183 7173043 545270 545270 258551 51698 206853 206853 206853 11907459 11908599 -1140 -1140 -1140 65666 193842 57512 8154 8154 547662 181914 365748 365748 10055224 7538791 0 759137 1466067 1166634 188148 111285 5278465 4031897 773804 472764 806513 423589 349079 33845 734506 148734 580724 5048 1189 1189 63497 63497 49000 49000 7554 7554 399512 328612 70900 953519 953519 284120 284120 588907 588907 283036 252763 26489 3784 128052 87685 40367 357724 312778 39328 5618 245416 218474 23574 3368 SCENERY AND COSTUMES 488457 488457 CREATIVE ARTIST FEES 369242 369242 PRODUCTION 301783 301783 SUBSCRIPTIONS 254039 254039 672563 302378 212794 157391 13733161 10229491 2710567 793103 17102632 13903692 3967811 3292036 502695 0 0 474061 12657 14092 442786 439000 18077499 11336988 7063288 6740511 6910839 7202961 36002708 32066353 1227767 400628 3204273 3477778 936740 1149102 5368780 5027508 X 24146101 20101827 6487827 6937018 30633928 27038845 36002708 32066353 X -3677937 -263094 345948 X 0 1 X 1 1 1 X 5137268 4302957 7074112 6582476 1757296 24854109 14991608 8114184 169962 8006793 7173043 38455590 864305 228154 72978 251830 613328 2030595 20993181 12645295 7317052 14841099 9543667 65340294 550146 706627 559916 290773 213037 2320499 0 550146 706627 559916 290773 213037 2320499 63019795 333994 274520 28964 288684 803821 1729983 122287 8665 130952 456281 283185 28964 288684 803821 1860935 21449462 12928480 7346016 15129783 10347488 67201229 0.93780 0.94700 0.02770 0.01870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 49000 49000 0 PART II-B, LINE 1: ENGAGED A PROFESSIONAL LOBBYIST, PUGLIESE ASSOCIATES, FOR THE YEAR ENDING JUNE 30, 2023, TO LOBBY THE PENNSYLVANIA STATE LEGISLATURE FOR THE STATE APPROPRIATIONS TO CARRY OUT THE ORGANIZATION'S EXEMPT FUNCTIONAL PURPOSE. PUGLIESE ASSOCIATES PROVIDED LEGISLATIVE REPRESENTATION/LOBBYING BEFORE THE PENNSYLVANIA STATE HOUSE AND SENATE, VARIOUS AGENCIES, DEPARTMENTS, BOARDS AND COMMISSIONS. THEY LOBBIED ON RCAP AND LEGISLATIVE INITIATIVES AND OTHER APPROPRIATION LINE-ITEMS AS DIRECTED. X 0 830000 374009 1204009 13008071 7817425 5190646 1210868 660391 550477 1784599 869952 2859172 -204621 6740511 ACCRUED BENEFITS 1149102 1149102 X 10364136 -263094 579560 316466 10047670 7554 7554 10055224 13959219 233612 233612 13725607 7554 7554 13733161 PART III, LINE 4: THE MISSION STATEMENT OF WALNUT STREET THEATRE INCLUDES THE PRESERVATION AND CHRONICLING OF ITS THEATRE BUILDING, A NATIONAL HISTORIC LANDMARK. WE HAVE VAST COLLECTIONS OF MEMORABILIA FROM OVER 200 YEARS OF HISTORY. THEY INCLUDE STATUES, PAINTINGS, FURNITURE AND PRINTED MATERIALS. PART X, LINE 2: THE THEATRE IS EXEMPT FROM INCOME TAX ON NET PROGRAM ACTIVITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. PROPERTY RENTAL INCOME IS NOT CONSIDERED PROGRAM ACTIVITY INCOME BY THE INTERNAL REVENUE SERVICE. THIS TYPE OF INCOME IS CONSIDERED TO BE UNRELATED BUSINESS INCOME AND MAY BE SUBJECT TO INCOME TAX WHEN RENTAL INCOME EXCEEDS OPERATING EXPENSES. THE THEATRE DID NOT HAVE UNRELATED BUSINESS INCOME TAX EXPENSE FOR THE YEARS ENDED JUNE 30, 2023 AND 2022. MANAGEMENT HAS REVIEWED TAX POSITIONS TAKEN IN FILINGS OF THE THEATRE'S FEDERAL FORMS 990 AND 990T AND BELIEVES THOSE POSITIONS WOULD BE SUSTAINED SHOULD THE FILINGS BE EXAMINED BY THE RELEVANT TAXING AUTHORITY. OPEN PERIODS SUBJECT TO AUDIT FOR FEDERAL PURPOSES ARE GENERALLY THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 51,698. COST OF GOODS SOLD 181,914. IMPAIRMENT LOSS 345,948. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 51,698. COST OF GOODS SOLD 181,914. SPRING GALA 229950 172011 57939 27233 10868 16456 LIFE IS A CABERNET FALL FUNDRAISER 29558 21831 7727 58 475 2422 259508 193842 65666 27291 11343 18878 57512 8154 X 1 1 X X X X 0 1 0 0 0 0 0 1 0 BERNARD HAVARD PRESIDENT AND PRODUCING ARTISTIC DIR 586042 0 73790 0 112380 0 212362 0 1600 0 986174 0 0 0 MARK SYLVESTER MANAGING DIRECTOR 394343 0 50000 0 39434 0 0 0 17878 0 501655 0 0 0 SIOBHAN RUANE DIRECTOR OF PRODUCTION 136000 0 46000 0 0 0 0 0 10271 0 192271 0 0 0 TJ SOKSO DIRECTOR OF EDUCATION 104000 0 45000 0 0 0 0 0 34076 0 183076 0 0 0 MICHAEL ARMENTO CONTROLLER 120000 0 21000 0 0 0 0 0 35788 0 176788 0 0 0 EDWARD GILCHRIST DIRECTOR OF MARKETING 103730 0 50231 0 0 0 0 0 14608 0 168569 0 0 0 PART I, LINE 1A THE ORGANIZATION REIMBURSES THE TRAVEL COSTS FOR THE SPOUSE OF BERNARD HAVARD, PRESIDENT AND PRODUCING ARTISTIC DIRECTOR, WHO ACCOMPANIES MR. HAVARD AS A REPRESENTATIVE OF THE ORGANIZATION, ONLY ON SPECIFIC OCCASIONS WHEN HER SERVICES ARE REQUIRED IN AN OFFICIAL CAPACITY. NONE OF THE REIMBURSEMENTS PAID TO MR. HAVARD ARE RECORDED IN HIS ANNUAL W2 FORM AS THESE PAYMENTS ARE FOR A BONA FIDE BUSINESS PURPOSE. PART I, LINE 4B BERNARD HAVARD, PRESIDENT AND PRODUCING ARTISTIC DIRECTOR, HAS AN AGREEMENT WITH THE THEATRE THROUGH JUNE 2027. THE AGREEMENT PROVIDES A MONTHLY BENEFIT EQUAL TO ONE MONTH'S COMPENSATION FOR EACH YEAR OF SERVICE WITH A MAXIMUM OF TWENTY-FOUR MONTHS BASED UPON STIPULATIONS DESCRIBED IN THE AGREEMENT. TOTAL BENEFITS ACCRUED WERE $1,149,102 AND $936,740 AS OF JUNE 30, 2023 AND 2022, RESPECTIVELY. PART I, LINE 7 PART II, COLUMN (B)(II) REPORTS DISTCRETIONARY INCENTIVE AMOUNTS THAT WERE APPROVED BY THE BOARD BASED UPON PERFORMANCE. X AUCTION ITEM 110 38054 FAIR MARKET VALUE X FOOD SUPLIES 3 7200 FAIR MARKET VALUE 0 0 0 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS IN PART I, COLUMN (B). FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE. AFTER REVIEW THE FORM 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS. BEFORE FILING, A CONFERENCE CALL IS HELD WITH THE ACCOUNTING FIRM RESPONSIBLE FOR THE PREPARATION OF THE FORM 990 IN ORDER TO ADDRESS ANY QUESTIONS FROM THE BOARD. AFTER BOARD APPROVAL, THE FORM 990 IS FILED ELECTRONICALLY WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE THEATRE'S CONFLICT OF INTEREST POLICY SHALL BE PROVIDED TO VOTING MEMBERS AND EMPLOYEES, AND ANY OTHER PERSONS HOLDING POSITIONS OF RESPONSIBILITY AND TRUST ON BEHALF OF THE THEATRE, BEFORE SERVING THE THEATRE. THESE INDIVIDUALS SHALL AGREE TO ABIDE BY THE POLICY AND SHALL DISCLOSE THEIR AFFILIATIONS WITH ANY ORGANIZATION WITH WHICH THE THEATRE DOES BUSINESS BY COMPLETING THE ATTACHED CONFLICT OF INTEREST STATEMENT AND DISCLOSURE FORM. GIVEN THE POTENTIAL FOR MATERIAL CONFLICTS OF INTEREST TO ARISE, THE THEATRE REQUIRES VOTING MEMBERS TO PROVIDE A WRITTEN DISCLOSURE OF AFFILIATIONS BOTH AT THE INCEPTION OF THEIR INITIAL TERM AND ANNUALLY THEREAFTER. EMPLOYEES ALSO ARE REQUESTED TO PROVIDE WRITTEN DISCLOSURE WHEN THEIR EMPLOYMENT WITH THE THEATRE COMMENCES. IN ADDITION, BOTH VOTING MEMBERS AND EMPLOYEES HAVE A CONTINUING OBLIGATION TO DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST WHENEVER SUCH SITUATIONS ARISE. VOTING MEMBERS AND MEMBERS OF MANAGEMENT SHOULD SUBMIT ALL DISCLOSURES DIRECTLY TO THE CHAIRPERSON OF THE GOVERNANCE COMMITTEE. ALL OTHER EMPLOYEES SHOULD SUBMIT THEIR DISCLOSURES TO THE MANAGING DIRECTOR. THE THEATRE ALSO REQUIRES VOTING MEMBERS AND EMPLOYEES TO ABSTAIN FROM DECISION-MAKING ON ISSUES ABOUT WHICH THEY HAVE POTENTIAL CONFLICTS OF INTEREST. DISCLOSURE, PARTICIPATION AND ABSTENTION SHALL BE RECORDED IN THE MINUTES OF THE MEETING(S) AT WHICH THE ISSUE IS DISCUSSED AND DECIDED. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS DETERMINES COMPENSATION BY: - REVIEW AND RECOMMEND TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR APPROVAL THE PRODUCING ARTISTIC DIRECTOR CONTRACT (MULTI-YEAR). - REVIEW THE ORGANIZATION'S STAFF COMPENSATION PROGRAM ANNUALLY, INCLUDING SALARY RANGES FOR PARTICULAR POSITIONS, MERIT PAY AND BENEFITS PROVIDED AND COMMUNICATE THE COMMITTEE'S FINDINGS TO THE EXECUTIVE COMMITTEE. - COMPARABILITY DATA WAS USED TO DETERMINE THE PRESIDENT'S AND OTHER OFFICERS' COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIALS STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: IMPAIRMENT LOSS 345,948.