Loftopera Inc

Nonprofit profile at a glance

EIN
474745073
IRS 990 coverage
2016–2016
Forms available
Form 990 2016, Form 990-EZ 2015
Location
New City, NY, USA
Phone
5629649753
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Opera

Official website

Reported finances

Revenue
$719,478
Expenses
$765,622
Assets
$14,076
Liabilities
$17,018

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • KEVIN CHILDLESS (PRESIDENT)

Highest reported compensation

  • DANIEL ELLIS-FERRIS (EXECUTIVE PRODUCER): $24,922 total reported compensation
  • BRIANNA MUARY (GENERAL MANAGER): $19,724 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To bring opera to a younger, less-affluent crowd by making a new and sustainable format for production in the united states.

Operating model

Revenue model
Donor-supported. 61% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 17
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.6%; rating input score 86
  • Program expense ratio: 80.4%; rating input score 80
  • Fundraising efficiency: $4.55 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6.4%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 1.21; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 54; 54th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 127.6% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: -104.2% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 85.6% of revenue deployed · 80.4% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $616K in reported program spending
  • Leadership: top reported pay $25K · 5 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 4 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.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 17/100.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Review — Sustainability: Officer compensation ratio scored 54/100.