Fargo Theatre Management Corporation

Nonprofit profile at a glance

EIN
450373698
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Fargo, ND, USA
Phone
7012398385
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Organizations

Official website

Reported finances

Revenue
$1,221,593
Expenses
$861,253
Assets
$2,016,423
Liabilities
$359,533

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • Kirsten Jensen (Immediate Past President)
  • Trevor Mathew (President)
  • Cody Schuler (Vice President)
  • Emily Beck (Executive Director)

Highest reported compensation

  • Emily Beck (Executive Director): $70,327 total reported compensation
  • Elizabeth Weekly-Dreessen (Finance Manager): $19,962 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To preserve the historic integrity of the Fargo Theatre while expanding the Theatre's ability to meet the artistic and entertainment needs of increasingly diverse audiences, performers and filmmakers.(Continued on Schedule O)To effectively maintain a state of the art screen and stage for critically acclaimed film and classic film, live theatre, special events and tours. To ensure a home for the mighty Wurlitzer theatre pipe organ. To serve as an anchor for a vital downtown. To honor our past providing an unbroken thread of common entertainment and educational experience for generations of Fargo-Moorhead residents and visitors.

What it reported doing in 2024

One of the missions of the Fargo Theatre is to meet the artists and entertainment needs of increasingly diverse audiences, performers, and filmmakers. A diverse slate of film and live events provides the community with a wide selection of arts programming. In Fiscal Year 24-25, the Fargo Theatre screened 41 new-release films, 12 classic films, and 24 specialty film festivals/series including the FM LGBT Film Festival and Kids' Flicks. The Theatre also hosted 58 live events including performances by local arts organizations and professional touring artists.The Theatre is open a minimum of six days a week, offering a variety of motion pictures and performances in a historic setting. The Theatre typically averages more than 67,000 audience members a year. A variety of free or low-cost programming is also offered. These opportunities include the annual Martin Luther King Jr. Day Celebration and Holiday Pipes concerts (free admission) and the Kids' Flicks movie series ($3 admission). The Theatre also hosts a free monthly Film Club to build community and foster conversation. The Fargo Theatre's long-term objective is to continue to meet the artistic and entertain needs of the community as the city's population grows. Theatre programming staff and volunteer teams ensure that the slate of programming is inclusive and offers diverse artistic voices and representation.

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.
  • 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 92
  • Accountability: 91
  • Sustainability: 68
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.8%; rating input score 41
  • Program expense ratio: 52.6%; rating input score 53
  • Fundraising efficiency: $3.42 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 29.5%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 2.34; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 10.5%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: -2% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: -0.5% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 40.8% of revenue deployed · 52.6% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $453K in reported program spending
  • Leadership: top reported pay $70K · 18 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • High — Financial Efficiency: Fundraising efficiency scored 10/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.