2024 Transparency Report1/27/2025 Purpose Theater in Asylum believes transparency enables the sharing of power and responsibility. We commit to being open with how company decisions are made and money is spent. Below please find an overview of our finances in 2024. This is also on our website’s transparency page, a page we launched in 2021 as a way to showcase our finances and decision-making. Note: This is a financial summary of our work in 2024. For a non-financial review, please see our 2024 Year in Review. Big Picture Takeaways of Theater in Asylum’s 2024 Finances
2024 Major Projects & Expenses
*Theater in Asylum’s annual staff do not receive per-project stipends How We Paid People in 2024 Annual Staff The annually contracted staff listed below each received $100/month and did not receive project stipends.
**Because of Theater in Asylum’s current legal framework, payment to Paul, Katie, and Kathryn (the three partners of the LLC) are paid the company’s “profit.” Their pay, legally, is designated as “profit disbursement.” Although not legally required, all profits beyond the $100/month ($1,200 total each) administrative stipend amount were re-invested into the company. The How to Survive the End of the World Cabaret
Cold Readings
The FAUST/HOPE August Workshop
Grants We had a good year with grants! This past year we applied to:
Learnings and observations for future grant applications:
Fundraising Fundraising takes a lot of time, but we are lucky to have an incredible group of donors who continue to support our journey!
While we normally launch a fundraiser December-January in anticipation of each new year, we did not hold a December 2024-January 2025 fundraiser. We had hoped that our 501(c)3 transformation would be complete by now and that the fundraiser could have celebrated this milestone. We believe some folks who normally donate to that fundraiser donated to our general support fund instead. This may lower the amount we can raise in 2025 if we launch a mid-year fundraising campaign, because many of our donors appear to be on an end-of-year donation cycle. Ticketing 116 attended The How to Survive the End of the World Cabaret in person, with tickets on a sliding scale $0-$35.
*Keeping a free ticket option available at every event is a priority for us. We do not want cost to be a barrier to seeing our work. Free tickets are obtainable to anyone who needs one, no questions asked. Revenue Take-Away: Individual Donors Continue to be Critical to our Work Individual donations are by far our biggest income-source (70.6%). We are incredibly lucky that this is even possible, as we have a community that is both generous and able to donate a combined $15,944. Ticketing accounted for 3.9% of our income and grants accounted for 25.5% of our income this year. We are deeply grateful for all these avenues of financial support, and we acknowledge and want to praise two incredible institutions without whom we would not be able to make our work. The Episcopal Actors' Guild (EAG), where Paul works, allows us free use of their space as a perk of Paul’s employment. This saved us rehearsal costs for both the August FAUST/HOPE Workshop and the Cabaret. We also frequently host our Cold Readings at EAG, another huge saving for us. The Jalopy Theatre is another tremendous supporter, working with us to provide space that is within our budget. The amount we pay them in rental fees is, shall we say, below market. This is a true feat of generosity. Jalopy also lends us incredible trust with their lighting system, auxiliary spaces, and ticketing. EAG and Jalopy are those rare spaces in New York City where weird stuff is still happening because artists can actually afford to get in the door and make work. Read any arts publication these days, and you’ll see that the arts venue landscape is grim. Despite this, there are still true heroes tucked away in Red Hook and above a little Midtown church finding ways to truly support artists, and generously house groups like Theater in Asylum. Detailed Numbers Looking to 2025
Major Projects
Grants for FY2025 that we have applied for so far:
Ticketing
2025 Payment Structure
Thank you We are so grateful to this incredible community that continues to make so much possible. Thank you for holding us accountable and always asking us to be better. More of our transparency commitments, as well as previous years’ reports, may be found on our Transparency page. We also always invite feedback and contact info may be found on our Community page. Thank you all for making Theater in Asylum a vibrant community and fruitful for all involved. With gratitude, Paul, Katie, and Kathryn Theater in Asylum Ps. Please consider donating to Theater in Asylum!
0 Comments
Leave a Reply.Categories
All
Archives
February 2025
|
Theater in Asylum (TIA) is a New York-based theater company founded in 2010 to challenge and empower our community. TIA joyfully pursues a rigorous research and an ensemble-driven approach to theater-making. We create performances to investigate our past, interpret our present, and imagine our future. We prize space to process, space to question—asylum—for ourselves and our community.
|