Asolo Theatre Inc

Nonprofit profile at a glance

EIN
592717909
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Sarasota, FL, USA
Phone
9413519010
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$16,341,117
Expenses
$14,376,523
Assets
$52,946,708
Liabilities
$3,110,110

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

Leadership & pay

50 people listed

Executive titles in this filing

  • RANDELL JOHNSON (IMMEDIATE PAST PRESIDENT)

Highest reported compensation

  • PETER ROTHSTEIN (PRODUCING ARTISTIC DIRECTOR): $353,929 total reported compensation
  • ROSS EGAN (MANAGING DIRECTOR): $249,288 total reported compensation
  • ERIC PUGH (MARKETING DIRECTOR): $119,098 total reported compensation

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

Overview

Mission

Engage and inspire audiences with extraordinary theatrical experiences created with vision, passion and artistry and enhanced by deeply integrated education and community engagement programs.

What it reported doing in 2024

Asolo repertory's resident season creates a center for theatrical excellence for a local, regional and national community. From classics to contemporary dramas to broadway-bound musicals and newly commissioned work, all performed in the rarest form of rotating repertory. Asolo rep is a theatre district in itself. Each season, asolo rep mounts up to ten productions and two hundred fifty performances on two stages, for more than eighty thousand people annually.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 84
  • Accountability: 95
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.8%; rating input score 74
  • Program expense ratio: 81.2%; rating input score 81
  • Fundraising efficiency: $13.71 raised per $1 spent on fundraising; rating input score 47; 47th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 3.68; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 6.6%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 4.2% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 9.8% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 73.8% of revenue deployed · 81.2% of spending went to programs
  • Governance: 37 of 37 board members independent · 7 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $11.7M in reported program spending
  • Leadership: top reported pay $354K · 50 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.8M reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.