Live Bait Theatrical Company

Nonprofit profile at a glance

EIN
363622390
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Chicago, IL, USA
Phone
7738711212
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$30,579
Expenses
$22,267
Assets
$97,963
Liabilities
$7,000

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • EDWARD SALOMON (PRESIDENT)
  • JOHN RAGIR (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JOHN RAGIR (EXECUTIVE DIRECTOR): $8,000 total reported compensation
  • SHARON EVANS RAGIR (ARTISTIC DIRECTOR): $6,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organizations mission is provide production facilities to other not-for- profit and start-up theater companies; to engage the community by using art to enhance the lives of children and seniors; and to write new work.

What it reported doing in 2025

Outreach programs: 1. Teaching improvisational acting and performance techniques to senior citizens at a chicago senior center. A total of 31 classes were conducted with an average attendance of 10 players. 2 performances were held with an average audience of 30 people. 2. Teaching memoir writing classes to seniors (55 & up). 42 classes were hosted with select memoirs developed into storytelling performances. In 2025, there were 6 performances benefiting over 140 people. The program is coordinated with goodman theatres genarrations project.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
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.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 92
  • Accountability: 72
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.5%; rating input score 58
  • Program expense ratio: 75.5%; rating input score 76
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 27.2%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 4.4; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 62.9%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 1.6% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 57.5% of revenue deployed · 75.5% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $17K in reported program spending
  • Leadership: top reported pay $8K · 7 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.