Lensic Performing Arts Center

Nonprofit profile at a glance

EIN
850448396
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Santa Fe, NM, USA
Phone
5059887050
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Philanthropy, Voluntarism, and Grantmaking Foundations N.E.C.

Official website

Reported finances

Revenue
$14,464,594
Expenses
$12,403,238
Assets
$22,713,093
Liabilities
$1,653,354

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

Leadership & pay

26 people listed

Executive titles in this filing

  • KAREN DURKOVICH (PRESIDENT)

Highest reported compensation

  • JOEL AALBERTS (EXECUTIVE DI): $271,576 total reported compensation
  • JAMES LENFESTEY (DIRECTOR LEN): $179,754 total reported compensation
  • LAURA ACQUAVIVA (MANAGING DIR): $162,745 total reported compensation

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

Overview

Mission

The historic lensic - santa fe's performing arts center - enriches lives by bringing diverse art and people together. Through its accessible and affordable programming, the lensic presents and supports locl and national artists and serves as a center for community, youth, and education events.

What it reported doing in 2024

Lensic presents programs: the lensic performing arts center has presented and produced performances of artists from around the world. The lensic's year-round programming is integral to fulfilling the organization's mission by presenting a wide-ranging, diverse series of programs and artists. Programs include popular concerts, dance shows, world music, jazz, classical music, comedy, and family-friendly programming. Lensic 360: in early 2023, in an effort to reach new and underserved audiences beyond those who are able to attend performances at the theater, we launched lensic 360. This new initiative presents a diverse array of events at other regional venues and the lensic in New Mexico, including summer scene, a 50 show free concert series.

Operating model

Revenue model
Earned-program. 63% of the money available for current operations came from fees and other program revenue.
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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 84
  • Accountability: 95
  • Sustainability: 66
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.5%; rating input score 73
  • Program expense ratio: 81.1%; rating input score 81
  • Fundraising efficiency: $4.85 raised per $1 spent on fundraising; rating input score 20; 20th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • 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; 66th 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: 14.3%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 1.83; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 7.1%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 11% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 11% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 6.6% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 72.5% of revenue deployed · 81.1% of spending went to programs
  • Governance: 21 of 21 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $10.1M in reported program spending
  • Leadership: top reported pay $272K · 26 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $109K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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.

  • High — Financial Efficiency: Fundraising efficiency scored 20/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.