Nonprofit · EIN 58-2400427
PROSPECT THEATER COMPANY INC
Tax-exempt · NEW YORK, NY 10018
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| August 31, 2025 | 990 | $574,696 | $710,512 | -$135,816 | $149,249 | $13,853 | $135,396 |
| August 31, 2024 | 990 | $760,174 | $487,673 | $272,501 | $376,448 | $105,236 | $271,212 |
| August 31, 2023 | 990 | $494,227 | $652,199 | -$157,972 | $57,456 | $58,745 | -$1,289 |
Financial details: 990 for the year ended August 31, 2025
Revenue
- Contributions, gifts and grants
- $512,737
- of which government grants
- $167,438
- Program service revenue
- $59,493
- Investment income
- $1,185
- Net income from fundraising events
- -$9,912
- Other revenue
- $1,281
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $79,790
- Other salaries and wages
- $166,300
- Salaries, compensation and benefits (total)
- $296,104
- Professional fundraising fees
- $0
- Accounting fees
- $6,082
- Occupancy
- $128,590
- Travel
- $8,291
- Depreciation
- $780
- Program services (functional)
- $560,068
- Management and general (functional)
- $106,144
- Fundraising (functional)
- $44,300
Balance sheet and other
- Total assets, start of year
- $376,448
- Total assets, end of year
- $149,249
- Total liabilities, end of year
- $13,853
- Net assets, end of year
- $135,396
- Land, buildings and equipment
- $7,349
- Net assets without donor restrictions
- $135,396
- Gross receipts
- $649,117
- Employees
- 27
- Volunteers
- 4
- Year formed
- 1998
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended August 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CARA REICHEL | BOARD MEMBER/PRODUCING ARTISTIC DIRECTOR Trustee or director, Officer | 40 | $47,703 |
| MELISSA HUBER | BOARD MEMBER/MANAGING DIRECTOR Trustee or director, Officer | 20 | $31,100 |
| PETER MILLS | BOARD MEMBER Trustee or director | 5 | $4,000 |
| JASON MA | PRESIDENT Trustee or director, Officer | 5 | $0 |
| JESSE KEARNEY | PRESIDENT (LEFT DECEMBER 2024) Trustee or director, Officer | 5 | $0 |
| TIRA HARPAZ | VICE PRESIDENT Trustee or director, Officer | 5 | $0 |
| KYLE BURKHARDT | TREASURER Trustee or director, Officer | 5 | $0 |
| JANE ABRAMSON | SECRETARY Trustee or director, Officer | 5 | $0 |
| JULIE MILLER | BOARD MEMBER Trustee or director | 5 | $0 |
| TONY VALLES | BOARD MEMBER Trustee or director | 5 | $0 |
| SOPHIE GANDLER | BOARD MEMBER Trustee or director | 5 | $0 |
| KARIN KAWAMOTO | BOARD MEMBER Trustee or director | 5 | $0 |
| CAROLINE EBER | BOARD MEMBER Trustee or director | 5 | $0 |
| ROBERT GURMAN | BOARD MEMBER Trustee or director | 5 | $0 |
| ELIZABETH CASASOLA | BOARD MEMBER Trustee or director | 5 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| FOXY SQUIRE | BOARD MEMBER Trustee or director | 5 | $0 |
990 for the year ended August 31, 2024: 14 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CARA REICHEL | BOARD MEMBER/PRODUCING ARTISTIC DIRECTOR Trustee or director, Officer | 40 | $36,527 |
| MELISSA HUBER | BOARD MEMBER/MANAGING DIRECTOR Trustee or director, Officer | 30 | $31,262 |
| JESSE KEARNEY | PRESIDENT Trustee or director, Officer | 5 | $0 |
| TIRA HARPAZ | VICE PRESIDENT Trustee or director, Officer | 5 | $0 |
| KYLE BURKHARDT | TREASURER Trustee or director, Officer | 5 | $0 |
| JANE ABRAMSON | SECRETARY Trustee or director, Officer | 5 | $0 |
| JULIE MILLER | BOARD MEMBER Trustee or director | 5 | $0 |
| TONY VALLES | BOARD MEMBER Trustee or director | 5 | $0 |
| PETER MILLS | BOARD MEMBER Trustee or director | 5 | $0 |
| JASON MA | BOARD MEMBER Trustee or director | 5 | $0 |
| SOPHIE GANDLER | BOARD MEMBER Trustee or director | 5 | $0 |
| KARIN KAWAMOTO | BOARD MEMBER Trustee or director | 5 | $0 |
| CAROLINE EBER | BOARD MEMBER Trustee or director | 5 | $0 |
| ROBERT GURMAN | BOARD MEMBER Trustee or director | 5 | $0 |
990 for the year ended August 31, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CARA REICHEL | BOARD MEMBER/PRODUCING ARTISTIC DIRECTOR Trustee or director, Officer | 40 | $35,062 | $6,000 |
| MELISSA HUBER | BOARD MEMBER/MANAGING DIRECTOR Trustee or director, Officer | 30 | $26,436 | $0 |
| JESSE KEARNEY | PRESIDENT Trustee or director, Officer | 5 | $1,500 | $0 |
| TIRA HARPAZ | VICE PRESIDENT Trustee or director, Officer | 5 | $0 | $0 |
| KYLE BURKHARDT | TREASURER Trustee or director, Officer | 5 | $0 | $0 |
| JANE ABRAMSON | SECRETARY Trustee or director, Officer | 5 | $0 | $0 |
| STEPHANIE GRAYSON | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| DAVID MILBERG | BOARD MEMBER (LEFT JULY 2023) Trustee or director | 5 | $0 | $0 |
| JULIE MILLER | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| TONY VALLES | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| PETER MILLS | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| JASON MA | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| SOPHIE GANDLER | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| KARIN KAWAMOTO | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 520 EIGHTH AVE 3RD FLOOR SUITE 307, NEW YORK, NY 10018-8643
- In care of
- % CARA L REICHEL
- Principal officer (990 for 2024)
- MELISSA HUBER, 520 EIGHTH AVE 3 FL, NEW YORK, NY 10018
- Signed the 990
- MELISSA HUBER, MANAGING DIRECTOR
- Phone
- (212) 594-4476
- Website
- WWW.PROSPECTMUSICALS.ORG
- Return prepared by
- RICH AND BANDER LLP
Mission
PROSPECT IS DEDICATED TO FOSTERING AND SHOWCASING TODAYS NEW VOICES SHAPING TOMORROWS MUSICALS. WE DEVELOP AND PRODUCE NEW WORKS, ENVISIONED AND IMPLEMENTED BY EMERGING ARTISTS. PROSPECT CREATES EDUCATIONAL AND TRAINING OPPORTUNITIES, SUSTAINS A SUPPORTIVE NETWORK WITHIN THE FIELD, AND PROVIDES A FORUM FOR ARTISTS AND AUDIENCES TO CONNECT AND LEARN FROM EACH OTHER.
Program accomplishments
- THE OSCAR MICHEAUX PROJECT Music by ALPHONSO HORNE Co-Book & Co-Lyrics by JESSE L. KEARNEY, JR. Co-Lyrics and Additional Music by PETER MILLS Co-Book by CARA REICHEL Development of a new musical which included a staged reading in January 2025, demo recordings of songs from the show and a workshop production of a jazz musical theater work presented at the Baruch Performing Arts Center in June 2025. 6 performances 558 attendeesExpenses $293,464 · revenue $11,840
- IGNITE CONCERT FESTIVAL A series of concerts and special events presented March and April 2025 showcasing works in progress musical theater works including: Friday, March 28 2025 @ 7:30p: Marguerite, In Concert Saturday, March 29 2025 @ 7:30p: Broadway Barkada, In Concert Sunday, March 30 2025 @ 3p: Women of WICKED - Panel Discussion Wednesday, April 2 2025@ 7:30p: Cherry Orchard, In Concert Saturday April 5 2025 @ 7:30p & Sunday April 6 @ 3p: We Foxes, In Concert presented with Actor Therapy New Works & Very Intense Productions Thursday, April 10 2025 @ 7:30p: The Battle of Blythe Road, In Concert prpresented with On The Quays Sunday, April 13 2025 @ 2p: Amberland, In Concert presented with Ring of Keys 8 performances 1057 AttendeesExpenses $136,305 · revenue $21,985
- MAYA - THE MUSICAL IN CONCERT Book & Music by CHEEYANG NG Book & Lyrics by ERIC SORRELS Directed by J. MEHR KAUR A concert of the New Musical presented by Prospects IGNITE Series in partnership with National Asian Artists Project THURSDAY, NOVEMBER 21 2024 @ 7PM, Symphony Space 1 performance 409 AttendeesExpenses $46,147 · revenue $20,232
- Other program services included the Annual Musical Theater Lab: Jump Cut and Projects in Development. Jump Cut presented ten-minute musical works by multiple composer and writer teams in one public performance on February 20, 2025 serving 358 attendees. Projects in Development included concerts, staged readings, artist talks, work shares, and direct support for composers creating new musical theater works, ncluding Yukon, Ho!, The Troupe, and Songs for Hands on a Thursday. Collectively, these programs served approximately 534 attendees.Expenses $84,152 · revenue $5,436
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in August, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | August 31, 2026 | January 15, 2027 | Not due yet |
| 2024 | August 31, 2025 | January 15, 2026 | 990 on file |
| 2023 | August 31, 2024 | January 15, 2025 | 990 on file |
IRS record
- EIN
- 58-2400427
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1998
- Accounting year ends
- August
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A650)
- Assets (IRS master file)
- $149,249
- Income (IRS master file)
- $649,117
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | August 2025 | $574,696 | $710,512 | $149,249 | XML |
| 990 | August 2024 | $760,174 | $487,673 | $376,448 | XML |
| 990 | August 2023 | $494,227 | $652,199 | $57,456 | XML |
| 990 | August 2022 | $516,430 | $560,802 | $167,991 | IRS |
| 990 | August 2021 | – | – | – | IRS |
| 990 | August 2020 | – | – | – | IRS |
| 990 | August 2019 | – | – | – | IRS |
| 990 | August 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 58-2400427).
Questions about PROSPECT THEATER COMPANY INC
- What is the EIN of PROSPECT THEATER COMPANY INC?
- The employer identification number (EIN) of PROSPECT THEATER COMPANY INC is 58-2400427.
- Is PROSPECT THEATER COMPANY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to PROSPECT THEATER COMPANY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PROSPECT THEATER COMPANY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PROSPECT THEATER COMPANY INC due?
- The return for tax year 2025 (the year ending August 31, 2026) is due January 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PROSPECT THEATER COMPANY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended August 2025.
- Who is the principal officer of PROSPECT THEATER COMPANY INC?
- The 990 for the year ended August 31, 2025 names MELISSA HUBER.
- Who are the officers and directors of PROSPECT THEATER COMPANY INC?
- The 990 for the year ended August 31, 2025 lists 16 people; 3 received compensation from the organization, the highest $47,703 (CARA REICHEL, BOARD MEMBER/PRODUCING ARTISTIC DIRECTOR).
- How much revenue does PROSPECT THEATER COMPANY INC have?
- On its 990 for the year ended August 31, 2025 it reported revenue of $574,696, expenses of $710,512 and total assets of $149,249 at year end.
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