Friends of the Strand Inc

Nonprofit profile at a glance

EIN
200210688
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Marietta, GA, USA
Phone
7702930080
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
History Museums

Official website

Reported finances

Revenue
$2,735,055
Expenses
$2,683,317
Assets
$6,484,511
Liabilities
$2,959,396

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

Leadership & pay

25 people listed

People named in this filing

  • HOLLY TUCHMAN (CHAIR)
  • RON CARTER (MEMBER)
  • RALPH KNIGHT (MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

It is the strand's mission to enrich and engage our regional community through diverse entertainment and memorable experiences for all. See schedule o, part 1, line 1 for additional details.

What it reported doing in 2024

As the last remaining historic theatre in cobb county, the strand is a landmark steeped in history on the marietta square. Originally built in 1935 by the manning-winks theatre company as an art deco movie palace. It is currently the home of the earl and rachel smith strand theatre, a nonprofit arts organization that lights up the square with films, concerts, musicals, plays, educational programming, and community gatherings. Whether patrons are interested in stepping back in time to glimpse a bygone era or looking forward to seeing current acts of today, the strand fills a critical niche in the local cultural landscape of marietta. The strand hosts a wide variety of art forms and community gatherings and provides a historic home for arts lovers to come together as a community.

Operating model

Revenue model
Other-operating. 69% of the money available for current operations came from other operating revenue.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.1%; rating input score 89
  • Program expense ratio: 81.7%; rating input score 82
  • Fundraising efficiency: $3.73 raised per $1 spent on fundraising; rating input score 11; 11th 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 1.9%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 2.42; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.46; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 9.8% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 0.4% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: 89.1% of revenue deployed · 81.7% of spending went to programs
  • Governance: 24 of 24 board members independent · 7 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $2.2M in reported program spending
  • Leadership: top reported pay $0 · 25 people listed
  • Consistency: 27 of 27 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: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

Key Signals

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

  • High — Financial Efficiency: Fundraising efficiency scored 11/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.