Count Basie Theatre Foundationinc

Nonprofit profile at a glance

EIN
593828864
IRS 990 coverage
2009–2015
Forms available
Form 990 2015
Location
Red Bank, NJ, USA
Phone
7322248778
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Reported finances

Revenue
$4,580,376
Expenses
$2,088,312
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

26 people listed

Executive titles in this filing

  • ADAM PHILIPSON (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • ADAM PHILIPSON (CHIEF EXECUTIVE OFFICER): $230,993 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the foundation is to provide operating support to the theatre, raise the capital needed to restore the facility and to create an endowment for the theatre.

What it reported doing in 2015

Financial development activities on behalf of the count basie theatre, inc.in the year ended june 30, 2016, count basie theatre presented 128 performances(3 country, 1 dance, 6 ethnic, 13 family shows, 7 jazz, 10 musical theater, 35 rock, 8 pop, 6 spoken word, 18 films, 13 popular culture, 4 classic pop, and 3 folk) outside promoters presented 23 concerts and 38 performances were offered by nonprofit organizations. Had 98 arts education classes with 1,046 enrolled on site and 7 bus in shows for area schools impacting 8,940 students and chaperones. Our outreach program in area schools reached 1,354 students.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 39
  • Transparency & Controls: 83
  • Accountability: 93
  • Sustainability: 54
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 27.8%; rating input score 28
  • Program expense ratio: 60.8%; rating input score 61
  • Fundraising efficiency: $5.61 raised per $1 spent on fundraising; rating input score 24; 24th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 71st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88%; rating input score 88; 19th percentile among comparable filings
  • Governance controls: 8 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 54.4%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0.8%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: -4.1% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 20.2% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: -17.7% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 27.8% of revenue deployed · 60.8% of spending went to programs
  • Governance: 22 of 25 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $231K · 26 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 11 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 7 filing years from 2009 to 2015
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 28/100.
  • High — Financial Efficiency: Fundraising efficiency scored 24/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.