Forum Theatre Inc

Nonprofit profile at a glance

EIN
371786041
IRS 990 coverage
2015–2016
Forms available
Form 990 2016
Location
Silver Spring, MD, USA
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$280,096
Expenses
$272,146
Assets
$19,153
Liabilities
$23,542

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Peter Kent (Vice President)
  • Christina Ritchie (President)

Highest reported compensation

  • Carl M Dove (Artistic Director): $43,615 total reported compensation
  • Kyle Jean Hamos (Managing Director): $41,538 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of Forum Theatre is to use theatre to spark dialogue and strengthen community by producing adventurous work from and for a diversity of voices.

What it reported doing in 2016

Challenging, adventurous theatre productions, produced by and for a diversity of voices, including world and regional premiers of new plays, reaching 4,000 audience members and engaging numerous local artists. Forum for All makes 51% of tickets available at each performance on a pay what you can basis.

Operating model

Revenue model
Donor-supported. 84% 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

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: 44
  • Transparency & Controls: 100
  • Accountability: 83
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.9%; rating input score 49
  • Program expense ratio: 50.4%; rating input score 50
  • Fundraising efficiency: Limited

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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.8%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 0.07; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 1.23; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 31.3%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 123.7% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 131.1% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: 178.6% per year; rating input score 100; 100th percentile among comparable filings

Details

  • Where the money goes: 48.9% of revenue deployed · 50.4% of spending went to programs
  • Governance: 8 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $137K in reported program spending
  • Leadership: top reported pay $44K · 10 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 2 filing years from 2015 to 2016
  • 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 49/100.
  • Review — Financial Efficiency: Program expense ratio scored 50/100.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 50/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.