Circle Theatre Inc

Nonprofit profile at a glance

EIN
751777222
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Fort Worth, TX, USA
Phone
8178773040
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$706,994
Expenses
$848,587
Assets
$627,503
Liabilities
$68,992

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

Leadership & pay

16 people listed

Executive titles in this filing

  • ERIC CANALES (PRESIDENT)
  • TIM LONG (EXECUTIVE DIRECTOR)

Highest reported compensation

  • TIM LONG (EXECUTIVE DIRECTOR): $85,250 total reported compensation

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

Overview

Mission

Circle theatre is a Texas nonprofit corporation created to establish a professional theatre in fort worth, Texas to further the development of dramatic art and to encourage the development of high literary and dramatic standards.

What it reported doing in 2024

Administration of the local aea actors umbrella which allows non-aea theatres to use aea actors.

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. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 23
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.2%; rating input score 94
  • Program expense ratio: 78.5%; rating input score 78
  • Fundraising efficiency: $22.15 raised per $1 spent on fundraising; rating input score 61; 61st 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; 63rd 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -20%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.74; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 10%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: -2.5% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 94.2% of revenue deployed · 78.5% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $666K in reported program spending
  • Leadership: top reported pay $85K · 16 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 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.

  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.