Korsa Musical Theater

Nonprofit profile at a glance

EIN
341990661
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Berkeley, CA, USA
Phone
5105955514
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Performing Arts Organizations

Official website

Reported finances

Revenue
$662,860
Expenses
$688,979
Assets
$169,497
Liabilities
$26,322

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

Leadership & pay

10 people listed

Highest reported compensation

  • Jennifer Boesing (Producing Artistic Director): $112,038 total reported compensation

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

Overview

Mission

Korsa Musical Theater produces professional caliber musical theater while providing exceptional theater training to students 7th grade and above. We bring together talented and dedicated young singer/actors with professional directors, designers, and musicians to create theater that takes on challenging and sophisticated musical and dramatic themes, accompanied by a live orchestra.

What it reported doing in 2024

Musical Theater Productions. During 2024-25, Korsa Musical Theater mounted four productions. The productions involved about 30 to 40 students in each production either on or off stage, being trained by and working alongside 10 to 15 theater professionals. The productions were accompanied by between 8 and 32 professional live musicians. The productions spanned a rehearsal period ranging from 8 to 10 weeks each and were presented with a total of 19 performances for the public.

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: 79
  • Transparency & Controls: 92
  • Accountability: 77
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85%; rating input score 85
  • Program expense ratio: 81.5%; rating input score 81
  • Fundraising efficiency: $13.09 raised per $1 spent on fundraising; rating input score 46; 46th 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: 77.8%; rating input score 78; 17th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.9%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 0.25; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 16.3%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 8.7% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 6% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 85% of revenue deployed · 81.5% of spending went to programs
  • Governance: 7 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $561K in reported program spending
  • Leadership: top reported pay $112K · 10 people listed
  • Consistency: 42 of 42 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2013 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 46/100.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.