Commonwealth Theatre Center Inc

Nonprofit profile at a glance

EIN
610902722
IRS 990 coverage
2009–2022
Forms available
Form 990 2022
Location
Louisville, KY, USA
Phone
5025890084
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$880,785
Expenses
$1,089,238
Assets
$336,347
Liabilities
$289,768

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

Leadership & pay

12 people listed

Highest reported compensation

  • IAN FRANK (MANAGING DIR): $34,745 total reported compensation

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

Overview

Mission

Developing youth and our community through excellence in comprehensive theatre education and performance.

What it reported doing in 2022

Commonwealth theatre center (ctc), formerly walden theatre/blue apple players (merged january 2015), provides a continuum of theatre education with a deep heritage of excellence, innovation, and commitment to lifelong learning. For 48 years, ctc programs have been an effective and unique part of creative, academic, social, and economic development in the greater louisville area and beyond. In fy23 ctc reached 12,485 youth and adults through our outreach, conservatory and main stage performances. Annually, ctc's outreach programs serve over 50 sites across the region, working with community centers, libraries, and many title i schools. Ctcs conservatory draws students from more than 50 local schools each year and hosts over 3,000 patrons in our nancy niles sexton theatre. Ctc's mission is to develop youth and our community through excellence in comprehensive theatre education and performance. Our continuum of learning includes blue apple outreach's touring productions as well as the interdisciplinary workshop and residency programs that enrich social, emotional, and academic growth. With a no-audition policy and financial aid for students, the walden theatre conservatory includes intensive theatre training for youth ranging from introductory to professional, student-produced and acted performances, an alumni program, professional performances, and adult acting classes.

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 99% 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

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

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 79
  • Sustainability: 15
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84%; rating input score 84
  • Program expense ratio: 67.9%; rating input score 68
  • Fundraising efficiency: $8.48 raised per $1 spent on fundraising; rating input score 32; 32nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -23.7%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 3.2%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 1% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 5.8% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 84% of revenue deployed · 67.9% of spending went to programs
  • Governance: 11 of 11 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $740K in reported program spending
  • Leadership: top reported pay $35K · 12 people listed
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2009 to 2022
  • 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.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 32/100.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Review — Transparency & Controls: Schedule G fundraiser detail did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 58/100.