Local Philanthropic

THE FLORIDA THEATRE
Using data as of: September 2015

Rating: RECOMMEND

About
Built in 1927, The Florida Theatre holds more than 200 events each year at their location in downtown Jacksonville. Events range from ballet and opera to concerts of all musical genres to comedy acts. They also host graduations, awards ceremonies, lectures, business meetings and charity events that support the community’s schools, churches, hospitals and civic groups. It is regarded as one of the finest concert venues in the Southeast and is listed on the National Register of Historic Places.

Ticket sales and other revenue make up 70% of their budget; the remainder is raised through outside contributions.

More information on the Florida Theatre can be found here:
http://floridatheatre.com/

The Florida Theatre Facebook:
https://www.facebook.com/FloridaTheatre/

Our Analysis

The Florida Theatre brought in $7.28 million in revenue according to their latest report, which is a slight deficit from their $7.39 million in expenses. Slight deficits are common, according to historical filings.

The majority of the $7.3 million in revenue came from their operations, which added $5.7 million. A little more than $500 thousand was contributed by donors and a little more than $100 thousand came from fundraisers.

It’s difficult to evaluate a nonprofit like the Theatre like a regular nonprofit since they operate so differently. We like to see charities spend at least 75% on their mission, which the Theatre does, and the bulk of the admin costs come from employee salaries.

Spending on mission
5,846,286 ÷ 7,387,940 = 79.1%

Spending on administrative costs
1,508,579 ÷ 7,387,940 = 20.4%

Spending on fundraising
33,075 ÷ 7,387,940 = 0.5%

Our Conclusion
The Florida Theatre is difficult to analyze like a regular nonprofit since they operate so differently. They appear to be well run, but continued modest deficits suggest the need for more donations. We give them a RECOMMEND rating.

The Florida Theatre also has different recognition levels depending on the size of your donation.
http://floridatheatre.com/donate-now/friends-of-the-ft/

Contact:
Florida Theatre
128 East Forsyth Street
Jacksonville, FL 32202
(904) 355-5661

Form 990: LINK

Financial information comes from the latest Form 990 filing. This review is the opinion of Local Philanthropic and is provided for general information purposes only. Please conduct your own due diligence before donating to any nonprofit.