Heartstrings Theatre Inc
Nonprofit profile at a glance
- EIN
- 853812413
- IRS 990-EZ coverage
- 2023–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2022
- Location
- Albuquerque, NM, USA
- Phone
- 5059759115
- Rating
- 64
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $126,514
- Expenses
- $119,782
- Assets
- $14,661
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- MARC PALEY (PRESIDENT)
People named in this filing
- MARC PALEY (PRESIDENT)
- MICHELLE SWALLOWS (VICE PRESIDE)
- NICHOLE CHRISTIANSEN (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-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
At heartstrings theatre company, students of all ages perform a variety of shows from literature to adaptations of films to original pieces. The result is professional-quality productions, which are engaging and entertaining for the whole family. We believe that theatrical arts are for everyone, so we have established a diverse organization where any child can participate and feel welcome
What it reported doing in 2024
Theatrical arts
Operating model
- Revenue model
- Earned-program. 100% 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 - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 52
- Transparency & Controls: 82
- Sustainability: 34
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 51%; rating input score 51
- Program expense ratio: 53.9%; rating input score 54
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 5.3%; rating input score 48; 48th percentile among comparable filings
- Total-asset coverage ratio: 0.12; rating input score 13; 13th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: -19.1% per year; rating input score 0; 10th percentile among comparable filings
- Revenue growth: 24% per year; rating input score 100; 87th percentile among comparable filings
- Asset growth: 59.6% per year; rating input score 100; 95th percentile among comparable filings
Details
- Where the money goes: 51% of revenue deployed · 53.9% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $65K in reported program spending
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 2 filed schedules
- Filing history: 2 filing years from 2023 to 2024
- Contacts: How to reach this organization
- 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: Mission deployment rate scored 51/100.
- Review — Financial Efficiency: Program expense ratio scored 54/100.
- High — Growth: Program expense growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 13/100.
- Moderate — Sustainability: Operating margin scored 48/100.