George Street Playhouseinc

Nonprofit profile at a glance

EIN
237361588
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
New Brunswick, NJ, USA
Phone
7322587549
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$5,965,598
Expenses
$5,382,883
Assets
$2,238,715
Liabilities
$1,574,610

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

Leadership & pay

19 people listed

Executive titles in this filing

  • PENELOPE E LATTIMER (PRESIDENT)
  • SHARON KARMAZIN (VICE PRESIDENT)
  • EDGAR HERRERA ARIZMENDI (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DAVID SAINT (ARTISTIC DIRECTOR): $301,920 total reported compensation
  • EDGAR HERRERA ARIZMENDI (EXECUTIVE DIRECTOR): $241,710 total reported compensation
  • GANAPATHI KAMATH (DIRECTOR OF FINANCE): $130,758 total reported compensation

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

Overview

Mission

The mission is to enrich people's lives by producing quality theatre with challenging new works, re-imagined classics, and theatre education programs.

What it reported doing in 2024

George street playhouse (gsp) is a professional regional theatre company located in new brunswick, nj. Our mission is to "enrich people's lives through world-class theatre." each season, we demonstrate our commitment to producing new and re-imagined works through our world-class mainstage series of plays and musicals.gsp is proud to have premiered several plays that have gone on to successful New York broadway and off-broadway runs, garnering national attention. Gsp's education department offers theatre classes for youth and adults, cultivating the next generation of american theater voices, makers, and supporters.

Operating model

Revenue model
Donor-supported. 69% 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 - 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.3%; rating input score 75
  • Program expense ratio: 83.4%; rating input score 83
  • Fundraising efficiency: $16.29 raised per $1 spent on fundraising; rating input score 53; 53rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 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: 9.8%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.7; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 19.6%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 30th percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 75.3% of revenue deployed · 83.4% of spending went to programs
  • Governance: 13 of 13 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4.5M in reported program spending
  • Leadership: top reported pay $302K · 19 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 10 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 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.

Key Signals

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

  • Review — Financial Efficiency: Fundraising efficiency scored 53/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.