2026-05-12T16:47:52-05:00 2025-06-30 393647910 WIPFLI ADVISORY LLC 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2024-07-01 231715152 WALNUT STREET THEATRE CORPORATION WALN 2155743550 825 WALNUT STREET PHILADELPHIA PA 19107 BERNARD HAVARD PRESIDENT 2155743550 2026-05-11 1 1 MICHAEL J PETERSON CPA P01833529 2187224705 2026-05-11 2024 2025-03-06 01:10:19Z BERNARD HAVARD 825 WALNUT STREET PHILADELPHIA PA 19107 40737309 0 X WWW.WALNUTSTREETTHEATRE.ORG X 1969 DE TO SUSTAIN THE TRADITION OF PROFESSIONAL THEATRE AND CONTRIBUTE TO ITS FUTURE VIABILITY... AND VITALITY. 20 19 322 350 0 0 1905057 5590831 10084785 11227449 934591 950503 663940 867536 13588373 18636319 0 0 0 0 8846082 9206023 0 0 697528 6226630 6800046 15072712 16006069 -1484339 2630250 30703761 32816546 6312328 5765504 24391433 27051042 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 11388592 0 11310395 MAINSTAGE PRODUCTIONS:DURING THE 2024-25 SEASON, WALNUT STREET THEATRE MAINSTAGE PRODUCTIONS WELCOMED 167,067 ATTENDEES, INCLUDING 21,925 SUBSCRIBERS. THE COMPANY PROVIDED EMPLOYMENT TO OVER 440 WORKERS. THE SEASON INCLUDED JERSEY BOYS, ELF THE MUSICAL, DRIVING MISS DAISY, NOEL COWARD'S HAY FEVER, AND DREAMGIRLS. THE SEASON ALSO INCLUDED A HOLIDAY CONCERT FEATURING HUGH PANARO. 767904 0 467091 THEATRE SCHOOL:DURING THE 2024-2025 SEASON, OUR THEATRE SCHOOL WORKED WITH 68 TEACHING ARTISTS AND 1,238 STUDENTS. CAMP WALNUT PRODUCED SIX DIVISIONS FOR 128 STUDENTS WITH 11 TEACHING ARTISTS. CAMP HELD 12 LIVE PERFORMANCES FOR FRIENDS AND FAMILY. TOURING OUTREACH SERVED 41 DISTRICTS, 124 SCHOOLS, 239 PERFORMANCES AND 59,391 STUDENTS. THE ADOPT-A-SCHOOL PROGRAM SERVED FIVE PHILADELPHIA SCHOOLS THIS PAST YEAR. THROUGH THIS INITIATIVE, FIVE OF OUR WST TEACHING ARTISTS TAUGHT 2,247 STUDENTS. OUR RESIDENCY PROGRAM HAD 17 WST TEACHING ARTISTS SERVING 25 SCHOOLS AND REACHING 1,238 TOTAL STUDENTS. WALNUT STREET THEATRE KIDS SERIES HAD 38 STUDENTS FROM WALNUT STREET THEATRE SCHOOL, AND EIGHT ARTISTIC STAFF MOUNTED FULLY STAGED ADAPTATIONS OF A CHRISTMAS CAROL AND ALADDAN JR. THESE TWO KIDS SERIES SHOWS, ALONG WITH STUDENT GROUPS ATTENDING OUR MAINSTAGE PRODUCTION OF A CHRISTMAS STORY, WELCOMED 37,567 STUDENTS OVER THE COURSE OF THE ACADEMIC YEAR TO OUR MAINSTAGE. DISNEY MUSICALS IN SCHOOLS HAD FOUR WST TEACHING ARTISTS AND THE WST EDUCATIONAL STAFF SERVED TWO SCHOOLS, AND 71 STUDENTS WERE ABLE TO PARTICIPATE IN THE DISNEY MUSICAL IN SCHOOLS PROGRAM. 83 SCHOLARSHIPS WERE AWARDED TO DESERVING STUDENTS FOR OUR THEATRE SCHOOL PROGRAM IN 2025. OUR PROFESSIONAL APPRENTICE PROGRAM PROVIDED TRAINING FOR 23 STUDENTS. 12156496 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 0 0 0 0 0 0 0 0 0 1 156 0 322 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 19107 BERNARD HAVARD PRESIDENT & PRODUCING ARTISTIC DIR 60.00 X X 838171 0 3385 FRANCIS MIRABELLO BOARD CHAIR 2.00 X X 0 0 0 PATRICK MULLEN VICE CHAIR & SECRETARY 2.00 X X 0 0 0 ROBERT L B HARMAN TREASURER/CHAIR FINANCE 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 GARFIELD CHAIRMAN EMERITUS 2.00 X X 0 0 0 SCOTT RANKIN IMMEDIATE PAST CHAIR 2.00 X X 0 0 0 JEFFREY FERRO CHAIR AUDIT COMMITTEE 2.00 X 0 0 0 JOHN FIDLER BOARD MEMBER (THRU APR 2025) 2.00 X 0 0 0 JACK R GARFINKLE BOARD MEMBER 2.00 X 0 0 0 MELITA J JORDAN BOARD MEMBER 2.00 X 0 0 0 TANYA RULEY-MAYO BOARD MEMBER 2.00 X 0 0 0 RICHARD A MITCHELL CHAIR INVESTMENT COMMITTEE 2.00 X 0 0 0 JENNIFER MERVES ROBBINS 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 D SCULLY JR BOARD MEMBER 2.00 X 0 0 0 ELLEN TOBIE BOARD MEMBER 2.00 X 0 0 0 JOSEPH VILLANI 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 526128 0 18298 STEPHEN RAPP DIRECTOR OF MARKETING & PR 60.00 X 326116 0 12319 SIOBHAN RUANE DIRECTOR OF PRODUCTION 60.00 X 191000 0 10520 TJ SOKSO DIRECTOR OF EDUCATION 60.00 X 154000 0 29247 MICHAEL ARMENTO CONTROLLER 60.00 X 145500 0 36954 JEFFREY COON DIRECTOR OF DEVELOPMENT 60.00 X 157000 0 12589 2337915 0 123312 8 0 1 0 INTECH CONSTRUCTION LLC 3020 MARKET STREET PHILADELPHIA PA 19104 CONSTRUCTION 2136871 HARMELIN MEDIA 525 RIGHTERS FERRY RD BALA CYNWYD PA 19004 MARKETING & ADVERTISING 418637 CAPACITY INTERACTIVE CONSULTING PO BOX 50019 NEWARK NJ 07101 MARKETING & ADVERTISING 386799 MUSIC THEATRE INTERNATIONAL 423 WEST 55TH STREET 2ND FL NEW YORK NY 10019 SHOW LICENSING 342712 THEATRICAL RIGHTS WORLDWIDE 1180 AVENUE OF THE AMERICAS SUITE NEW YORK NY 10036 SHOW LICENSING 240955 15 2500 264236 2968027 2356068 5590831 PRODUCTION TICKET SALES 711110 10712596 10712596 THEATRE SCHOOL 711110 467091 467091 47762 47762 11227449 950175 950175 280602 0 280602 280602 280602 21779119 21778791 328 328 328 130724 264236 94975 35749 35749 777261 227224 550037 550037 1148 1148 1148 18636319 11777486 0 1268002 1458523 1050171 313970 94382 5894882 4247052 1264111 383719 250809 173101 67991 9717 999596 689892 270979 38725 602213 415630 163253 23330 8055 8055 96349 96349 54600 54600 9413 9413 499778 405584 94194 1035551 1035551 238344 238344 832929 832929 244567 217719 23492 3356 205670 130770 74900 591361 526440 56805 8116 372986 332040 35828 5118 PRODUCTION 576317 527821 48496 SCENERY AND COSTUMES 478070 478070 CREATIVE ARTIST FEES 373567 373567 REPAIRS AND MAINTENANCE 347832 18095 329737 834657 702064 1528 131065 16006069 12156496 3152045 697528 12543489 8728219 3333533 3472297 0 3179415 42351 26327 6145 18761 340975 609524 20596098 11967543 6730622 8628555 7706646 8153448 30703761 32816546 1392939 845239 3724323 3677397 1195066 1242868 6312328 5765504 X 17782679 21384903 6608754 5666139 24391433 27051042 30703761 32816546 2630250 29359 0 X 0 1 X 1 0 X 7147090 6772145 1757296 1905057 5590831 23172419 169962 7661291 7173043 10084785 11227449 36316530 0 345502 547662 618266 777261 2288691 7317052 14778938 9478001 12608108 17595541 61777640 559916 290773 213037 227019 322501 1613246 0 559916 290773 213037 227019 322501 1613246 60164394 146557 288684 803821 1234220 1230777 3704059 146557 288684 803821 1234220 1230777 3704059 0 7826 8154 25903 35749 77632 1148 1148 7463609 15075448 10289976 13868231 18863215 65560479 0.91770 0.92220 0.05650 0.04430 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 54600 54600 0 PART II-B, LINE 1: ENGAGED A PROFESSIONAL LOBBYIST, LONG NYQUIST & ASSOCIATES, FOR THE YEAR ENDING JUNE 30, 2025, TO LOBBY THE PENNSYLVANIA STATE LEGISLATURE FOR THE STATE APPROPRIATIONS TO CARRY OUT THE ORGANIZATION'S EXEMPT FUNCTIONAL PURPOSE. LONG NYQUIST & 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 13860622 8459755 5400867 1426217 1145943 280274 1784599 2320651 2361845 1743405 8628555 ACCRUED BENEFITS 1242868 1242868 X 18937055 29359 29359 18907696 9413 -280790 -271377 18636319 16277446 280790 280790 15996656 9413 9413 16006069 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, 2025 AND 2024. 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 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -53,566. COST OF GOODS SOLD -227,224. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 227,224. FUNDRAISING EXPENSES 53,566. SPRING GALA 335570 225659 109911 42250 13500 28900 LIFE IS A CABERNET FALL FUNDRAISER 59390 38577 20813 375 3163 6787 394960 264236 130724 42625 16663 35687 94975 35749 X 1 1 X X X X 0 1 0 0 0 0 0 1 0 BERNARD HAVARD PRESIDENT & PRODUCING ARTISTIC DIR 609483 0 105000 0 123688 0 0 0 3385 0 841556 0 0 0 MARK SYLVESTER MANAGING DIRECTOR 410116 0 75000 0 41012 0 0 0 18298 0 544426 0 0 0 STEPHEN RAPP DIRECTOR OF MARKETING & PR 140000 0 186116 0 0 0 0 0 12319 0 338435 0 0 0 SIOBHAN RUANE DIRECTOR OF PRODUCTION 136000 0 55000 0 0 0 0 0 10520 0 201520 0 0 0 TJ SOKSO DIRECTOR OF EDUCATION 104000 0 50000 0 0 0 0 0 29247 0 183247 0 0 0 MICHAEL ARMENTO CONTROLLER 120000 0 25500 0 0 0 0 0 36954 0 182454 0 0 0 JEFFREY COON DIRECTOR OF DEVELOPMENT 155000 0 0 0 2000 0 0 0 12589 0 169589 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 W-2 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 $1,242,868 AND $1,195,066 AS OF JUNE 30, 2025 AND 2024, RESPECTIVELY. PART I, LINE 7 PART II, COLUMN (B)(II) REPORTS DISCRETIONARY INCENTIVE AMOUNTS THAT WERE APPROVED BY THE BOARD BASED UPON PERFORMANCE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE. AFTER REVIEWING, 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 FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.