Foundation for the Performing Arts Center

Nonprofit profile at a glance

EIN
770129605
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
San Luis Obispo, CA, USA
Phone
8055415401
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Centers

Official website

Reported finances

Revenue
$966,800
Expenses
$1,159,316
Assets
$9,445,432
Liabilities
$75,073

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

Leadership & pay

11 people listed

Executive titles in this filing

  • TOM STRAIT (PRESIDENT)
  • KRISTIN HOOVER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KRISTIN HOOVER (EXECUTIVE DIRECTOR): $177,993 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 provide and promote an extraordinary and accessible center for the performing arts that elevates the arts in our community.

What it reported doing in 2024

Arts season - amounts paid to the cal poly arts program to sponsor their performing arts season which provides a broad program of high quality professional touring performances, exhibitions and speaking engagements, while also assisting with educational needs of students through various artist-in-residency activities and off-campus school outreach events.

Operating model

Revenue model
Donor-supported. 64% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 54% for direct work, and 46% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 42
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.1%; rating input score 94
  • Program expense ratio: 76.8%; rating input score 77
  • Fundraising efficiency: $9.01 raised per $1 spent on fundraising; rating input score 34; 34th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • 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: 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: -19.9%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 8.15; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 15.4%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 7.9% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: -3.3% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 94.1% of revenue deployed · 76.8% of spending went to programs
  • Governance: 10 of 10 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $891K in reported program spending
  • Leadership: top reported pay $178K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 34/100.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.