City Center of Music and Drama INC

Nonprofit profile at a glance

EIN
131813808
IRS 990 coverage
2009–2016
Forms available
Form 990 2016
Location
New York, NY, USA
Phone
2128707776
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Centers

Official website

Reported finances

Revenue
$11,364,838
Expenses
$16,324,998
Assets
$89,335,978
Liabilities
$8,003,102

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

19 people listed

Highest reported compensation

  • FRANK LAVAIA (MASTER CARPENTER): $333,812 total reported compensation
  • BEN DANCYGER (PROPERTY MASTER): $319,132 total reported compensation
  • IRIS NOVACK (DIRECTOR): $280,592 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To maintain and operate the david h. Koch theater for the presentation of the performing arts, primarily dance.

What it reported doing in 2016

The david h. Koch theater and its auditorium were built in 1964 by architect philip johnson. Since 2012, New York city ballet ("city ballet") has been the sole tenant of the theater and performs in the hall for 22 weeks of each calendar year. City ballet's 163 performances and dozens of public programs annually draw hundreds of thousands of u.s. And foreign visitors. The theater is rented to other dance companies of note when city ballet is not in season. Its annual performance calendar includes residencies by the paul taylor dance company, the alvin ailey american dance theater, and the american ballet theatre. The joyce theater and the lincoln center festival also regularly present a variety of dance performances. The theater hosts other national and international performing groups during the year such as, royal danish ballet, australian ballet, miami city ballet, san francisco ballet, and the boston ballet. In addition to performing arts organizations, corporate and other non-profit organizations occasionally rent the theater for conventions, galas, and conferences.

Operating model

Revenue model
Earned-program. 78% of the money available for current operations came from fees and other program revenue.
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 most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 51
  • Accountability: 100
  • Sustainability: 38
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.5%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 68th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -43.6%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 5.47; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 10.5%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: -9.8% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -7.2% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -9.7% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.5% of spending went to programs
  • Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $13.6M in reported program spending
  • Leadership: top reported pay $334K · 19 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $298K reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes major donors, foreign activity, and executive pay
  • Filing history: 8 filing years from 2009 to 2016
  • Contacts: How to reach this organization
  • Money network: 6 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.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.