Local Theater Company

Nonprofit profile at a glance

EIN
452208855
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Boulder, CO, USA
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Reported finances

Revenue
$531,785
Expenses
$494,730
Assets
$76,664
Liabilities
$200,588

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

Leadership & pay

13 people listed

People named in this filing

  • KATHY DUDA (Director)
  • LORENZO GONZALEZ (Director)
  • WILL MISKO (BOARD CHAIR)

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

Engage audiences through innovative performances that spark camaraderie, learning, and contemplation, and provide a resourceful environment for theater artists to take creative risks and develop their work..

What it reported doing in 2024

Since 2011, local theater company (ltc) has discovered, developed, and produced exceptional new theatrical works. Artists grow their work within a fertile artistic environment. Audiences are cultivated to participate in the new play process through inclusion in every stage. With 60 staff, board, and associate artists, ltc has produced 53 new play readings at local lab, 15 fully produced world-premier productions, and educated more than 500 middle school students. In the 2024-25 season, ltc programs included various live productions, local lab new play festival, localwrites literacy residency for middle school, and the come together engagement series.

Operating model

Revenue model
Donor-supported. 88% 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 86
  • Accountability: 74
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.9%; rating input score 54
  • Program expense ratio: 57.9%; rating input score 58
  • Fundraising efficiency: $6.05 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th 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: 76.9%; rating input score 77; 17th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 0.15; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 2.62; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 9.6% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 15.9% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 15.8% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 53.9% of revenue deployed · 57.9% of spending went to programs
  • Governance: 10 of 13 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $287K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • Review — Financial Efficiency: Program expense ratio scored 58/100.
  • High — Financial Efficiency: Fundraising efficiency scored 22/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.