Bright Invention Inc

Nonprofit profile at a glance

EIN
452555243
IRS 990 coverage
2013–2022
Forms available
Form 990 2022
Location
Philadelphia, PA, USA
Phone
6108640317
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$72,668
Expenses
$120,992
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Benjamin Lloyd (Executive Director)
  • Jamie Cooperstein (Board President)
  • Joshua Park (Vice President)

Highest reported compensation

  • Benjamin Lloyd (Executive Director): $68,795 total reported compensation
  • Robert Stineman (Director of Finance/Acting Treasurer): $12,300 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Bright Invention, Inc. uses improvisation to empower individuals and organizations to unlock their potential.

What it reported doing in 2022

Creative Corporate Training - A program within the Bright Invention initiative that seeks to educate professionals in the corporate world on how to more effectively communicate and listen to one another through use of Bright Invention Ensemble members and improv based exercises and demonstrations. The initiative seeks to not only grow Bright Invention's brand within the community at large, but also bring the natural skills of artists into the corporate landscape to help professionals better understand how to work as a cohesive unit and increase their productivity through a better understanding of how to be an effective leader and communicator.

Operating model

Revenue model
Donor-supported. 68% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 15
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.5%; rating input score 80
  • Program expense ratio: 47.7%; rating input score 48
  • Fundraising efficiency: $110.4 raised per $1 spent on fundraising; rating input score 89; 89th 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -66.5%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 67%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -7.2% per year; rating input score 0; 36th percentile among comparable filings
  • Revenue growth: -12.7% per year; rating input score 0; 30th percentile among comparable filings
  • Asset growth: -12.5% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 79.5% of revenue deployed · 47.7% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $58K in reported program spending
  • Leadership: top reported pay $69K · 4 people listed
  • Consistency: 41 of 41 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 6 filing years from 2013 to 2022
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: Program expense ratio scored 48/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.