24Th Street Theatre Company

Nonprofit profile at a glance

EIN
954607337
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Los Angeles, CA, USA
Phone
2137456516
Rating
85
Verdict
STRONG
Rating confidence
Standard
Sector
Theater

Official website

Reported finances

Revenue
$1,480,671
Expenses
$1,227,650
Assets
$3,183,243
Liabilities
$220,748

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • David Leuchter (President)
  • Jay McAdams (Executive Director)

Highest reported compensation

  • Debbie Devine (Ex-Officer Director): $85,383 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

24th Street Theatres mission is to engage, educate and provoke its diverse community with excellent theatre and arts education.

What it reported doing in 2024

24th Street Theatres service to the community continued in 2024/2025 with about 18,000 people served. There were 107 school field trips for 10,700 students from across LA school districts across LA County. Our free community after school programs were offered to 100 inner-city kids Mon-Fri, ages 7-18. Our Teen Leadership program continued to grow and train new teens job skills for workforce readiness. We continued our work with USC on a National Institute of Health brain research project with 25 kids. We worked with hundreds of teachers through CDOL, the Center for Distance and Online Learning at The LA County Office of Education to train educators about SEL, Culturally relevant teaching, and theatre skills. Once again, 24th Street Theatre served at least 5,000 neighborhood residents with our LIVE annual Dia de los Muertos celebration.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 100
  • Accountability: 77
  • Sustainability: 67
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.7%; rating input score 75
  • Program expense ratio: 88.9%; rating input score 89
  • Fundraising efficiency: $28.46 raised per $1 spent on fundraising; rating input score 67; 67th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 24th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 17.1%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 2.59; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 7%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: 6.8% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 12.8% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 74.7% of revenue deployed · 88.9% of spending went to programs
  • Governance: 11 of 12 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $85K · 12 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.