Grand Theater Foundation Inc

Nonprofit profile at a glance

EIN
352464040
IRS 990 coverage
2014–2020
Forms available
Form 990 2020, Form 990-N 2013
Location
Knoxville, IA, USA
Phone
6418425415
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Reported finances

Revenue
$143,461
Expenses
$162,928
Assets
$541,424
Liabilities
$14,443

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

6 people listed

Highest reported compensation

  • SEAN SKEEHAN (EXEC. DIRECT): $23,660 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Community non-profit organization organized to provide a community-based theater and local events venue

What it reported doing in 2020

Operation of a community based movie theater and events venue.

Operating model

Revenue model
Earned-program. 66% of the money available for current operations came from fees and other program 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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 37
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.1%; rating input score 95
  • Program expense ratio: 83.7%; rating input score 84
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -13.6%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 3.32; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 14.5%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 19.4% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: -2% per year; rating input score 0; 27th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 95.1% of revenue deployed · 83.7% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $136K in reported program spending
  • Leadership: top reported pay $24K · 6 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2014 to 2020
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 18/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.