Key West Theater & Community Stage Inc

Nonprofit profile at a glance

EIN
472053122
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Key West, FL, USA
Phone
4102169730
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Reported finances

Revenue
$501,583
Expenses
$586,982
Assets
$703,620
Liabilities
$279,229

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

Leadership & pay

3 people listed

People named in this filing

  • JEFFREY McDONALD (Director)
  • ANTHONY FARHAT (Director)
  • KELLY NORMAN (Executive Dir.)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Kwtcs is a theater, community stage and gathering place, that serves as a springboard to ignite creative excellence, quality entertainment, intellectual stimulation, challenge and opportunity.

What it reported doing in 2024

Key west theater and community stage provides a venue where local artists can create and explore and invite others to see. It consists of a concert series, variety shows, and locally written, directed and acted plays with the mission of providing a venue for local talent to flourish.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 98% 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 the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 68
  • Accountability: 51
  • Sustainability: 31
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.1%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 47.6%; rating input score 48; 28th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 14th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -17%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 1.2; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.4; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 3.5% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 0.7% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: -3.9% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.1% of spending went to programs
  • Governance: 2 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $488K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 26 of 28 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 48/100.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.