Lark Theatre Company Inc

Nonprofit profile at a glance

EIN
133779197
IRS 990 coverage
2009–2022
Forms available
Form 990 2022
Location
New York, NY, USA
Phone
2122462676
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$72,097
Expenses
$959,174
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • COLIN GREER (president/TRUSTEE)
  • LESLEY MALIN (VICE PRESIDENT)

People named in this filing

  • COLIN GREER (president/TRUSTEE)
  • LESLEY MALIN (VICE PRESIDENT)
  • JORGE ORTOLL (TRUSTEE)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The lark play development center provides american and international playwrights with indispensable resources to develop their work, nurturing artists at all stages in their careers, and inviting them to freely express themselves in a supportive and rigorous environment. The lark accomplishes this through a variety of programs, residencies, and partnerships locally, nationally, and globally.

What it reported doing in 2022

In January of 2022, the Lark decided to cease operations. Under a plan of dissolution approved by the state of New York all assets have been distributed as of June 30, 2023.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 88
  • Accountability: 94
  • Sustainability: 10
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.7%; rating input score 98; 57th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1,230.4%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -4.1% per year; rating input score 0; 43rd percentile among comparable filings
  • Revenue growth: -3.3% per year; rating input score 0; 51st percentile among comparable filings
  • Asset growth: -5.8% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98% of spending went to programs
  • Governance: 16 of 16 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $940K in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 14 filing years from 2009 to 2022
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • 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 — Sustainability: Operating margin scored 5/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.