FreeFall Theatre Inc

Nonprofit profile at a glance

EIN
264251761
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Saint Petersburg, FL, USA
Phone
7274985205
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$1,680,876
Expenses
$1,512,130
Assets
$614,074
Liabilities
$661,065

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Robert O'Brion (President)
  • Eileen Sweeney (Vice President)
  • Craig Badinger (Executive Director)

Highest reported compensation

  • Craig Badinger (Executive Director): $74,520 total reported compensation

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

Overview

Mission

See Schedule O

What it reported doing in 2024

FreeFall Theatre produced five mainstage productions with a total of 119 performances, plus 32 additional concerts, programs, and other audience enrichments experiences. All together, freeFall offered 151 opportunities to engage with our programming and served a total of 15,269 ticket buyers.

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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.8%; rating input score 76
  • Program expense ratio: 75.8%; rating input score 76
  • Fundraising efficiency: $13.57 raised per $1 spent on fundraising; rating input score 47; 47th 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 10%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 0.41; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 1.08; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 75.8% of revenue deployed · 75.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $75K · 10 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.