NCT earns approximately 65% of its revenue through the sale of tickets, tuition for camps and classes and the rental of its home, The Martin Center. The remaining 35% of the revenue is acquired through individual, corporate, foundation and government sources. For the past two fiscal years, NCT has operated with a balanced budget using no line of credit or cash reserve (other than annual dividend from investment income at CFMT).
In FY18, the organization will be investing in a corporate sponsorship campaign with the assistance of outside consultants. In addition, we will recruit a fundraising consultant to help the internal development team analyze the current annual individual campaign to determine appropriate steps to grow this percent of contributed income. Over a period of five fiscal cycles (through FY22) NCT aims to grow its contributed revenue from approximately $560K to $750K in a reliably recurrent model.
Additionally, the company will be working to reschedule fundraising events and efforts to relieve overtaxing our patrons at one period of the year, while building an improved stewardship model.
Blankenship CPA Group, PLLC, the audit firm hired by Nashville Children's Theatre, had no findings or deficiencies to report for the FY17 audit.
NCT's audited financial statements include the depreciation of building and leasehold improvements, theatre equipment, furniture and fixtures. In FY17, the depreciation was $223,646. (In FY16, it was $225,075; in FY15 it was $245,627). For FY17, when depreciation is factored out (because it is a non-cash accounting transaction), our final position is a loss of $1,742.00. Although this is a small loss, we are functionally balanced in that $1,742 is 0.09% of our functional expenses.
FY17 Audit and 990
Form 990 | Audited Financial Statements