Indiana Repertory Theatre Inc

Nonprofit profile at a glance

EIN
351186290
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Indianapolis, IN, USA
Phone
3176355277
Rating
85
Verdict
STRONG
Rating confidence
Standard
Sector
Theater

Reported finances

Revenue
$7,909,342
Expenses
$8,348,623
Assets
$43,449,206
Liabilities
$862,218

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

Leadership & pay

32 people listed

Highest reported compensation

  • Suzanne C Sweeney (Managing Director): $232,623 total reported compensation
  • Benjamin Hanna (Artistic Director): $200,579 total reported compensation

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

Overview

Mission

Rooted in the heart of Indiana, Indiana Repertory Theatre is committed to building a vital, vibrant, and informed community through the transformational power of live theatre. The Indiana Repertory Theatre produces inclusive, top-quality, professional theatre and community programming to engage, surprise, challenge and entertain members of the whole community.

What it reported doing in 2024

The Indiana Repertory Theatre has stood as an artistic institution in the state of Indiana for more than 50 years, a recognized leader in both inclusive artistry and fiscal responsibility. IRT's artistic and educational programming, ranging from theatrical classics to the most compelling new works, serves audiences from across the state, including school districts in more than 50 Indiana counties each year, an impact unequaled by our Indiana theatrical peers. IRT seeks to provide experiences that will engage, challenge, and entertain ALL of Indiana, a state composed of an ever-changing population of ethnicities, backgrounds, and cultures, all with rich histories and dynamic points of view. IRT provides this diverse population with a place where their stories can be presented and shared, where issues of social justice that center on culture and race can be explored. (Continued on Schedule O)

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

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 95
  • Accountability: 95
  • Sustainability: 49
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.8%; rating input score 89
  • Program expense ratio: 77.5%; rating input score 77
  • Fundraising efficiency: $3.83 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.6%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 5.2; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: 1.7% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: 3.1% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 7.2% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 88.8% of revenue deployed · 77.5% of spending went to programs
  • Governance: 30 of 30 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $6.5M in reported program spending
  • Leadership: top reported pay $233K · 32 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.
  • 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 — Financial Efficiency: Fundraising efficiency scored 12/100.
  • High — Sustainability: Operating margin scored 19/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Officer compensation ratio scored 52/100.