Grand Opera House Inc

Nonprofit profile at a glance

EIN
510116569
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Wilmington, DE, USA
Phone
3026587897
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Historical Societies, Related Historical Activities

Reported finances

Revenue
$7,450,181
Expenses
$9,936,807
Assets
$16,059,213
Liabilities
$4,693,497

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

Leadership & pay

68 people listed

Executive titles in this filing

  • FRANCIS J SKIP PENNELLA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • FRANCIS J SKIP PENNELLA (EXECUTIVE DIRECTOR): $152,262 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 grand entertains, engages, and enriches our community with diverse live performances and educational programs in a welcoming, patron-centered environment. As proud stewards, we celebrate our cherished historic theaters that create economic vitality and lift the human spirit.

What it reported doing in 2024

Grand opera house, inc. Strives to expand people's horizons by presenting a wide variety of artistically acclaimed performers and by preserving one of Delaware's architectural landmarks.its programming reflects and celebrates the cultural diversity of the community and provides educational opportunities, helping to ensure culturally literate future generations of audiences. By maintaining its architectural integrity, technical excellence, and commitment to serve as the venue of choice for Delaware's performing arts organizations, the grand exerts a continuing influence on the revitalization of downtown wilmington, Delaware, and enhances the cultural resources of the brandywine valley, and remains a nationally acclaimed restored historic theater.in january 2015, the grand opera house assumed operations of another historic theater in downtown wilmington, the dupont theatre (which was renamed the playhouse on rodney square). The playhouse opened in 1913 as one of the select theaters across the country to be included on the broadway touring circuit. Now more than 100 years old, the playhouse is the oldest, continuously-operating theater on the national circuit. Although the grand acquired the theater business and some purchased assets from dupont company, it operates the facility under a lease from the current owner.

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

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: 80
  • Transparency & Controls: 65
  • Accountability: 87
  • Sustainability: 31
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.1%; rating input score 97
  • Program expense ratio: 72.8%; rating input score 73
  • Fundraising efficiency: $4.53 raised per $1 spent on fundraising; rating input score 15; 15th 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.2%; rating input score 96; 26th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -33.4%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 1.62; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 1.5%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 1.9% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: -0.4% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 97.1% of revenue deployed · 72.8% of spending went to programs
  • Governance: 25 of 26 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $7.2M in reported program spending
  • Leadership: top reported pay $152K · 68 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.2M reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • High — Financial Efficiency: Fundraising efficiency scored 15/100.
  • High — Sustainability: Operating margin scored 4/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.