First Folio Theatre

Nonprofit profile at a glance

EIN
364091752
IRS 990 coverage
2015–2020
Forms available
Form 990 2020
Location
Oak Brook, IL, USA
Phone
6309868067
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$408,141
Expenses
$255,556
Assets
$273,162
Liabilities
$217,070

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

9 people listed

Highest reported compensation

  • DAVID M RICE (Executive Direc): $37,384 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Productions of live classic theatre for cultural enrichment of the community.

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

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: 47
  • Transparency & Controls: 92
  • Accountability: 78
  • Sustainability: 55
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 36.8%; rating input score 37
  • Program expense ratio: 58.7%; rating input score 59
  • Fundraising efficiency: $24.79 raised per $1 spent on fundraising; rating input score 58; 58th 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: 88.9%; rating input score 89; 23rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 37.4%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 1.07; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.79; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 14.6%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: -12.8% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -2.6% per year; rating input score 0; 24th percentile among comparable filings
  • Asset growth: 44% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 36.8% of revenue deployed · 58.7% of spending went to programs
  • Governance: 8 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $150K in reported program spending
  • Leadership: top reported pay $37K · 9 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 5 filing years from 2015 to 2020
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Mission deployment rate scored 37/100.
  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 58/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.