Corinth Theatre-arts Inc

Nonprofit profile at a glance

EIN
237021473
IRS 990-EZ coverage
2017–2018
Forms available
Form 990-EZ 2018
Location
Corinth, MS, USA
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Theater

Reported finances

Revenue
$34,877
Expenses
$81,358
Assets
$24,904
Liabilities
$546

Source: IRS Form 990-EZ. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • CLAY NAILS (PRESIDENT)

People named in this filing

  • CLAY NAILS (PRESIDENT)
  • JAMES STRACHAN (V.P. - PRODU)
  • BRAD ESSARY (V.P. - OPERA)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To produce and present theatrical performances which will benefit northeast Mississippi and surrounding areas.

What it reported doing in 2018

The organization produces theatrical performances which include comedies, musicals, and dramas. It encourages community participation in all aspects.

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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 82
  • Sustainability: 19
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -133.3%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 23.1% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: -116.3% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -96% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $81K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2017 to 2018
  • Contacts: How to reach this organization
  • 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.

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 — Sustainability: Operating margin scored 6/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.