Friends of the Strand Theatre Inc

Nonprofit profile at a glance

EIN
463330177
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Rockland, ME, USA
Phone
2075940070
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Film, Video

Reported finances

Revenue
$1,069,362
Expenses
$1,029,665
Assets
$667,251
Liabilities
$54,286

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

Leadership & pay

12 people listed

Executive titles in this filing

  • ELLEN SEIDMAN (PRESIDENT)

People named in this filing

  • ELLEN SEIDMAN (PRESIDENT)
  • NORMAN THOMAS (SECRETARY)
  • CANDACE VANCKO (TREASURER)

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

The primary purpose of the corporation is to own and operate the strand theater in rockland Maine for educational purposes. The organization will: make available cultural and creative events and traditional theater; promote and advance shared cultural and creative experiences in the community; enhance the quality of life by preserving and maintaining the strand theatre as a historic and valuable community asset; and engage in any other lawful activity that may be authorized by the board of directors that is consistent with section 501(c)(3).

What it reported doing in 2024

The friends of the strand theatre, inc. Owns, maintains, and operates the strand theatre for the benefit of the local community of film, music, theater, and arts supporters. The theater offers a year-round program of film, live music and other special events; the theaters diverse programming shows its commitment to serving the needs of the local community. The strand's education program provides free arts programming to local students. These programs include live performances of music, theatre, and dance at the strand; virtual and in-person classroom visits from professional artists; arts learning workshops; film and hd event screenings; and historical tours of the theater. We also make low or no cost tickets available to students of any age for our regularly scheduled programs, including films, met opera broadcasts, nt live broadcasts, and live performances. Organizations throughout the community rent the strand to hold their fundraisers and other events. The friends of the strand theatre subsidizes these events by offering special discounted rates to non-profit organizations in order to support their events and fundraising efforts, and also to provide a venue on main street where such community events can be centrally located. The subsidized rates allow the renting organizations the flexibility to make their events free or low-cost as well as enabling them to re-invest the funds raised from the events into their own budgets.

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.
  • 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 86
  • Accountability: 82
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.3%; rating input score 82
  • Program expense ratio: 80.1%; rating input score 80
  • Fundraising efficiency: $6.01 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th 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: 4 of 7 controls in place; rating input score 57
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.7%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.65; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 3% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 82.3% of revenue deployed · 80.1% of spending went to programs
  • Governance: 12 of 12 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $824K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 22/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.