Festival of New American Musical Theater Foundation

Nonprofit profile at a glance

EIN
141915493
IRS 990-EZ coverage
2013–2024
Forms available
Form 990-EZ 2024, Form 990-N 2022
Location
Hollywood, CA, USA
Rating
91
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Reported finances

Revenue
$27,552
Expenses
$55,511
Assets
$68,538

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

Leadership & pay

15 people listed

Executive titles in this filing

  • Noelle Hicks (Vice President & Director)
  • Michael Donovan (President & Director)

People named in this filing

  • Marty Iker (Treasurer & Director)
  • Deirdre Marlowe (Secretary & Director)
  • Noelle Hicks (Vice President & Director)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

FNAM is dedicated to educating mentoring and showcasing the next generation of musical theater creators for stage screen and new and emerging platforms.

What it reported doing in 2024

ShowSearch is FNAMs juried competition for new short musicals by high school and college creators. ShowSearch starts with an online competition in which unedited 10-minute videos of musicals in development are submitted to the Foundation. Submissions are judged on storytelling musicality and originality by professional judges. Six finalists are selected: three from the high school age group 13 to 17 and three from the college age group 18 to 25. Each finalist is paired with a top musical theater professional for a month-long intensive mentorship. The mentored short musicals have a staged reading cast produced and directed by top Los Angeles musical theatre professionals. All ShowSearch winners receive cash awards.In addition to the $5,000 grant received in 2024 from Wells Fargo some grant money received in 2023 was used to fund the 2024 competition and performance. Number of persons benefited: 36 creators; 12 actors & musicians; 196 attendees

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 94
  • Transparency & Controls: 100
  • Sustainability: 26
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.1%; rating input score 85

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -101.5%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 1.23; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -3.6% per year; rating input score 0; 39th percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 15.7% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 3 filed program accomplishments · $47K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2013 to 2024
  • 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.

  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.