Coconut Grove Playhouse

Nonprofit profile at a glance

EIN
596152238
IRS 990 coverage
2009–2010
Forms available
Form 990 2010
Location
Miami, FL, USA
Phone
3054422662
Rating confidence
Limited
Sector
Theater

Reported finances

Revenue
$161,123
Expenses
$159,786
Assets
$1,713,093
Liabilities
$4,655,241

Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.

Leadership & pay

10 people listed

Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To produce and present the finest quality theater for citizens of miami-dade and the state of Florida. To extend its cultural activities and reach beyond its audience through educational programming, with particular attention to theater artists and their work and to foster future life of work developed at or by the playhouse. Please note the organization was operating at a deficit for the past several years and, as such, was forced to halt its operations and to let go of all of its staff prior to the june 30, 2007 fiscal year. The organization contracted with a third party firm to aid in developing a strategic business plan in an effort to raise funding and capital in fy 2008. In preparing the organization's 990 return, we had limited access to accounting records maintained by the organization due to their current state of operations. As such, we have prepared the information herein from the records provided to us and inquiries of those actively involved in helping the organization.

What it reported doing in 2010

Regional theater offering performances to the community of south Florida. During june 2011 fiscal year end the organization continued to have financial difficulties and was focused on obtaining additional funding sources and continuing to develop a strategic business plan.

Operating model

Revenue model
Grant-funded. 97% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 70
  • Sustainability: 57
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 59th 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: 2 of 7 controls in place; rating input score 29
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.8%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 10.72; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 2.72; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 75; 75th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 154.8% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 10 of 10 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 2 filing years from 2009 to 2010
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

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

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.