Illusion Theater and School Inc

Nonprofit profile at a glance

EIN
237392140
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6123394944
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Official website

Reported finances

Revenue
$915,233
Expenses
$1,048,513
Assets
$400,494
Liabilities
$287,767

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

Leadership & pay

28 people listed

Executive titles in this filing

  • Lisa Cotter (Board Vice President)
  • Keith Halperin (Board President)

Highest reported compensation

  • Michael Robins (Executive Producing Director): $55,333 total reported compensation
  • Bonnie Morris (Producing Director): $54,443 total reported compensation

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

Overview

Mission

Illusion Theater's mission is to create theater that illuminates the myths and realitites of our times and to catalyze personal and social change.

What it reported doing in 2024

Illusion presents its mainstage season at its new home, The Center for Performing Arts in the Kingfield neighborhood of Minneapolis. We produce 4 new plays a year, the Miss Richfield 1981's annual Holiday program in December, and the Fresh Ink Series in June. Illusion tours in the winter, performing for schools, universities, art series, corporations, faith organizations, and communities in its ongoing mission to develop new work that reflects and illuminates our times. Illusion has won numerous awards for creating specific work that addresses issues important to children and families. Illusion's education program is renowned throughout the state and country for its effective combination of theater and carefully crafted messaging on important issues.

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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 92
  • Accountability: 86
  • Sustainability: 17
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.7%; rating input score 90
  • Program expense ratio: 78.2%; rating input score 78
  • Fundraising efficiency: $9.83 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.9%; rating input score 93; 24th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -14.6%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.38; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.72; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 10.5%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: -3% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -2.2% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 89.7% of revenue deployed · 78.2% of spending went to programs
  • Governance: 26 of 28 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $820K in reported program spending
  • Leadership: top reported pay $55K · 28 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 9 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.